The useful part of a credit card statement is rarely page 1. It is the Most Important Terms and Conditions (MITC) — APR printed as 3.49% and 41.88%, a minimum due that is not “5% always,” a 50-day interest-free claim that is really a range, and fees that stack.
This hub is the index. Each link is a short explainer written from typical public MITC language (illustrative numbers such as 3.49% p.m., ₹250 MAD floor, ₹99 paper, ₹299 cash-at-branch). Your schedule of charges wins if it differs.
Start here (the three numbers on page 1)
- What is credit card APR in India? How 3.49% per month becomes 41.88%
Monthly rate × 12. Not a yearly 3.49%. - How is Minimum Amount Due calculated?
Highest of ~5%, or EMIs + fees + over-limit + 1% principal, or ₹250 — plus unpaid previous MAD. Pay-only-MAD can take ~6.5 years on ₹10,000. - Interest-free period: why it is 18–55 days, not “50 days always”
Due date is usually 18–25 days after statement date. Full pay required. Cash never gets grace.
Fees that are not interest
- Late payment charges are a slab, not one flat number
Bands such as ₹0 / ₹100 / ₹500 / ₹700 / ₹800. EMI and balance transfer can each take a fee. - Cash advance: 3% fee, ₹300 minimum, interest from day one
ATM cash is not a purchase. Cash limit sits inside credit limit. - Forex markup: 3.5% even when interest is 0%
Conversion fee, not APR. Merchant registered overseas can still add ~1%. Choose local currency at POS. - Petrol and railway surcharge
Often ₹10 or 1% (fuel), ₹25 or 2.5% (rail), whichever is higher. Small tickets feel worse. - Over-limit: ₹500 or 2.5%, and the swipe may still approve
Minimum ₹500 per instance. Over-limit principal often goes into MAD in full. Bank can also cut the limit. - Annual fee waiver: year-end review, primary card only
Fee is billed first; reversal later (often within 60 days). Pay it until the credit posts.
Paying the bill (and proving you got the bill)
- Paper statement charges: e-statement is free; extra paper often is not
Duplicate paper ~₹99/month on old tariffs. Email is deemed received when triggered. - Paying the card bill in cash at a branch
Repayment fee ~₹299, not a cash advance. Agent pickup can add ₹100. Prefer UPI / auto-debit. - Cheque bounce ~₹500, plus late fee if MAD never landed
Per instance. Electronic pay the same day you see the return.
Liability, bureau, and “the bank shut me down”
- Default and CIBIL: missing MAD even once, and what 150 days means
One missed minimum can go to CICs in the monthly file. 150 days is the defaulter classification. History is not erased. - Lost or stolen card: liable until the helpline is informed
India helpline reference beats “I locked the app maybe.” Destroy plastic you find later. - Add-on / supplementary card: jointly and severally liable
One limit, one MAD, primary’s CIBIL. Hotlist the extra card the day the relationship ends. - Overseas forex trading on a resident card
Not a markup. Banks threaten closure of all accounts and a regulator report. Different from travel spend.
How to use a statement in 60 seconds
- Box Total Amount Due, Minimum Amount Due, due date, statement date.
- Subtract statement date from due date → your short grace.
- Scan for finance charges, late fee, cash, forex, fuel, over-limit, annual fee.
- Auto-pay TAD two working days early. Use MAD only as a last resort.
- Lost card or fraud: helpline first, then dispute (~21 days). Keep paying undisputed MAD.
Quick “which fee is this?”
| You see | Usually it is | Read |
|---|---|---|
| 3.49% and 41.88% on the same page | Same rate, monthly vs APR | APR |
| Small “amount due” vs big “new balance” | MAD vs TAD | MAD |
| Finance charge after you paid something | Paid only MAD / cash / late post | Grace |
| ₹500–₹800 after due date | Late slab | Late fee |
| ATM + 3% + interest immediately | Cash advance | Cash |
| Foreign hotel, full pay, still ~3.5% extra | Markup | Forex |
| Petrol ₹10 or IRCTC extra % | Category surcharge | Fuel / rail |
Hub page for educational explainers, not a bank document or personal advice. Figures are typical public MITC patterns and go stale. Confirm on your latest statement, issuer website, and RBI customer-rights material.
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