Demystifying Credit Card Jargon: From APR to Reward Points

Are you baffled whenever you read credit card terms and conditions? Well, worry not! Here’s a simple breakdown on all those jargons!

APR

Short for Annual Percentage Rate, is the interest rate on the card levied ONLY if you don’t pay the bills in full or on time.

MAD

The Minimum Amount Due (MAD) is the minimum amount that you can pay on the credit card bill and carry forward the remaining dues to the next billing cycle.

Revolving credit

Paying the MAD and carrying forward the outstanding credit card balance is called revolving credit. APR is levied on the revolved amount.

Forex mark-up fee

This ‘foreign exchange’ fee is levied on international transactions. Expressed as a percentage, it is charged on every card payment made abroad.

Accelerated reward points

These are higher reward points earned on specific transactions. For e.g., many Metra Trust Credit Cards offer 10x reward points on purchases made on birthdays.

You can enjoy low forex markups, never-expiring Reward Points, and APRs starting from 9% with Metra Trust Credit Cards!