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Credit Card FAQ’s


  1. What is a Credit Card?
  2. A Credit Card is a plastic card assigned to a cardholder, usually with a credit limit, that can be used to purchase goods and services on credit or to obtain cash advances. Credit Card is a facility provided by a bank, to eligible individuals on applying for the same.

  3. What information a bank is required to provide to a person when he/she applies for a Credit Card?
  4. The bank is required to explain the relevant terms and conditions such as fees, charges and applicable interest rates, billing and payment, method of computation of overdue amount, renewal and termination terms and procedures and any other information that may be required to operate the card.

  5. How to track whether credit card has been dispatched to customer?
  6. Informative SMS and Email is sent to customer’s registered mobile and mail id wherein the Airway Billing number (AWB number) is provided so as the customer can track his consignment.

  7. How would the customer activate the Card?
  8. The card is issued in “Active” Status. The PIN has to be generated through Customer Web Module (CWM).

  9. How to generate the PIN for Credit Card?
  10. Our Bank has adopted Green PIN for Credit Card from Day 1 and shall not be sending any physical PIN Mailers to the Customers. The card holder has to register himself at: 


    After registration, the customer has to login and click on “Green PIN” button for generating 4 digit PIN in few easy steps.

  11. How to retrieve USER ID, if forgotten?
  12. The customer has to click on “Forgot Password” and follow easy steps as guided by the CWM. On the reset password page, the “USER ID” will be displayed in green colour on top of the screen.

  13. What is the concept of Balance Outstanding/ Available Credit Limit/ Cash Limit/ Total Amount Due/ Minimum Amount Due with relates to Credit Card?
    • Balance Outstanding-– This is the amount customer owes on his transactions made through credit card. It is the amount outstanding for repayment on or before due date as mentioned on credit card statement.
    • Available Credit Limit – This is the difference between your credit limit and total amount due. If your credit limit is Rs. 25,000/- and you have spent Rs. 5,000/-, your available credit limit will be Rs. 20,000/-. This amount is calculated after considering both the Billed and Unbilled Transactions.
    • Cash Limit – This pertains to the maximum amount which can be withdrawn in Cash through ATMs using your Credit Card.
    • Total Amount Due – This is the amount payable for the transactions done through the card and billed up-to the Billing Date. This amount may or may not be equal to the Outstanding Balance on the Card depending on the Transaction dates.
    • Minimum Amount Due – This is the amount which is required to be paid to ensure that the Credit Card facility remains in force.



  14. What is the cash limit available against the Credit Card?
  15. The Cash Limit is restricted to a maximum of 40% of the Credit Card Limit. For Secured Credit Card Product, the cash limit is 100% of the Credit Card Limit.
    The Cash Limit shall be reflected in the Card Welcome Letter as well as in the Card Statement.

  16. What is Billing Period?
  17. Billing period pertains to a 1 month cycle for recording Credit Card Transactions. For PMC Bank Credit Cards, the Billing period is set to start from 13th of the month and shall end on 12th of subsequent month.
    For PMC Bank Secured Credit Card, the Billing period is set to start from 18th of the month and shall end on 17th of subsequent month.

  18. What are Billing Date and Due Date?
  19. Billing Date shall be the end of the Billing Period i.e. 12th of every month for PMC Bank Unsecured Credit Card and 17th of every month for PMC Bank Secured Credit Card. The monthly credit card statement shall be generated on these dates, depending upon the product selected by the customer.
    Due date is the date by which the Card holder shall have to make the payment of the Credit Card dues. This date shall be 20 days after the Billing Date.

  20. How are Total Amount Due (TAD) and Minimum Amount Due (MAD) calculated?
  21. Every Credit Card Statement shall reflect 2 types of Amount Dues i.e. the Total Amount Due (TAD) and Minimum Amount Due (MAD)
    Total Amount Due (TAD) is calculated as under:

    Outstanding Balance of Previous Month
    Add: Amount of spends during the billing period (settled Transactions)
    Add: EMI for the Current Month (pertaining to transactions done in earlier billing periods)
    Add: Interest Charges (if any)
    Add: Charges (if any)
    Less: Amount of transactions converted to EMI mode (pertaining to transactions done in current billing period)
    Less: Payment received during the billing period

    Minimum Amount Due (MAD) is calculated as under:
    5% of total outstanding amount (i.e. TAD) subject to Minimum Rs. 200/- + All applicable taxes + EMI (in case of EMI based transactions) + over-limit amount (if any)

  22. When is interest chargeable on the Card?
  23. If payment for the Total Amount Due (TAD) is made before the Payment Due Date, then no interest charges are applicable. Hence, the Card holder can enjoy an interest-free credit from the date of purchase to the date on which the payment is due. The interest –free period could range from a minimum of 15 days to a maximum of 50 days depending on the date of purchase.
    Interest shall be charged if the Card holder does not pay the Total Amount Due (TAD) by the payment due date. In such cases, the Interest shall be charged from the transaction date on the Total Amount Due (TAD) and on all new transactions till such time as the previous outstanding amounts are paid in full. Also interest will be levied on all cash advances from the date of transaction until the date of settlement.

  24. When is Late Payment Fees chargeable on the Card?
  25. Late payment fee is charged on the credit card in the following scenarios:

      • If the minimum amount due is received after the due date
      • No payment is received
      • Payment received till the due date is less than the minimum amount due
    Statement Date – 12th of every month
    Transaction Done and Settled Between 13-01-2018 till 12-02-2018
    Retail Purchase of Rs. 5000 on 15-01-2018
    Online Purchase of Rs. 10,000 on 25-01-2018

    Assuming no previous balance is carried forward from the statement dated 12-01-2018, the cardholder will get his statement dated 12-02-2018 showing transactions of Rs. 15,000. The Cardholder needs to make payment against the outstanding by 04-03-2018 (i.e. Due date 20 days from the Statement Date), for anything between the entire amount or Minimum Amount Due. If the cardholder does not make the payment of the Minimum Amount Due or more by 04-03-2018, he would be charged a Late Payment Charges as per extant policy + taxes as applicable on late payment charges.


  26. How is the finance charges i.e. interest on the Credit Card Calculated?
  27. The following illustration will indicate the method of calculating finance charges
    Assume that you have paid all previous dues in full, and do not have any amount outstanding in your Credit Card Account, and your monthly statement is generated on the 12th of every month.
    You have purchased household goods for Rs. 25,000 on 4th Dec 2018 and withdrawn cash of
    Rs. 5000 from an ATM on 7th Dec 2018.
    Your monthly statement generated on 12th Dec 2018 shall have the following entries:

    Date Transaction Type Amount Explanation
    04-12-2018 Purchase Rs. 25,000 Purchase made on Credit Card
    07-12-2018 Cash Withdrawal Rs. 5,000 Cash Withdrawal on Credit Card
    12-12-2018 Cash Withdrawal Fee Rs. 100 5000 x 1% = Rs. 50, subject to minimum of Rs. 100
    12-12-2018 Finance Charge Rs. 9.90 Cash withdrawal done Rs. 5000 x 6 days x 1.00% x 12 months / 365 days = Rs. 9.90
    12-12-2018 GST on Finance Charge Rs. 1.78 9.90 x 18% = Rs. 1.78
    12-12-2018 GST on Cash W/d Fee Rs. 18 100 x 18% = Rs. 18.00
    Total Payment Due Rs. 30,129.68

    Actual finance charges calculation would vary based on the individual purchase and revolve behaviour and the applicable interest rate. Your payment due date for the 12th Dec 2018 statement is 1st Jan 2019.
    If you pay Rs. 5,000 on 1st Jan 2019 and you also make a fresh purchase of Rs 10,000 on 2nd Jan 2019, your monthly statement generated on 12th Jan 2019 shall have the following entries:
    Date Transaction Type Amount Explanation
    Opening Balance Rs. 30,129.68
    01-01-2019 Payment Received Rs. 5,000.00
    02-01-2019 Purchase Rs. 10,000.00
    12-01-2019 Finance Charges Rs. 399.12 Break Up of Finance Charges Given Below i.e. (a+b+c+d)
    Finance charges on Rs. 25,000 @ 1.00% p.m. from 4th Dec 2018 to 12th Jan 2019 (40 days) is 25000 x 1.00% x 39 days x 12 months / 365 days = Rs. 328.76
    Finance charges on Rs. 5,000 @ 1.00% p.m. from 13th Dec to 1st Jan 2019 (20 days) is 5000 x 1.00% x 20 days x 12 months/ 365 days = Rs. 32.88
    Finance charges on Rs. 10,000 @ 1.00% p.m. from 2nd Jan 2019 to 12th Jan 2019 (11 days) is 10000 x 1.00% x 11 days x 12 months/ 365 days = Rs. 36.16
    Finance charges on Rs. 129.68 (Finance charges + Cash Withdrawal Fee+ GST as levied in statement dated 12th Dec 2018) @ 1.00% p.m. from 13th Dec 2018 to 12th Jan 2019 (31 days) is 129.68 x 1.00% x 31 days x 12 months/ 365 days = Rs. 1.32
    12-01-2019 GST Rs. 71.84 Rs. 399.12 x 18%
    Total Payment Due Rs. 35,600.64

    Actual interest calculation would vary based on the individual purchase and revolve behaviour and the applicable interest rate.

    Please note that the Finance Charges and other charges are subject to change at the discretion of Punjab and Maharashtra Co-operative Bank Limited (PMC BANK).

  28. How is Over-limit Fees Charged to Customer?
  29. If outstanding dues exceeds the sanctioned credit limit then over-limit fees gets charged to cardholders account. Over-limit status may also be applied because of fees, surcharge and/or finance charges.
    For example, Mr. A having credit limit of Rs. 20,000/- does POS transaction of Rs. 18,000/- and withdraws cash from ATM for Rs. 2000/-. Here, Rs. 100 will get charged as Cash withdrawal fee, hence limit usage will be Rs. 20,100/-. The system will check and charge Rs. 500 as over-limit fees as customer has exceeded the credit limit.

  30. What is your credit card billing statement?
  31. A billing statement is a periodic (monthly) statement that lists all the purchases, payments and other debits and credits made to your credit card account within the billing cycle. At the very least, it’s a statement showing your balance, minimum payment, total payment due and the list of transactions made to your account.
    The customer should go through his statement carefully and all contents of the statement will be deemed to be correct and accepted if the Cardholder does not inform PMC Bank of the discrepancies within 60 days of the Statement Date in writing.

  32. How can the customer view his Card Statement?
  33. The cardholder can view the Card Statement by logging to his Card Account through the web portal by using his/her login credentials.

  34. How can the customer retrieve past statements/ earlier transaction details?
  35. The cardholder can view statements and transaction details up to last 12 months on the web portal.

  36. How can the payment of Credit Card Dues be made?
  37. The Credit Card Bills can be paid through various options such as Transfer Cheque from existing PMC Bank Account, Auto Debit from PMC Bank Account, Other Bank Cheque/ PO/DD Deposit, NEFT, Mobile Banking and IMPS.
    The cardholder must quote his /her 16 digit card number as beneficiary account number at the time of initiating payment.
    IFSC code – PMCB0000002 has to be used while making payments through NEFT, Mobile Banking and IMPS.
    Cheque/PO/DD Drawn on any other Bank should be deposited at least 3 working days prior to the payment due date to ensure timely credit to your card account and avoid levy of penal charges.

  38. What is the auto debit facility?
  39. The auto debit is a facility available to PMC Bank account holders. It takes care of your Credit Card bill payments. If you register for the Auto Debit facility, your outstanding amount towards credit card will be automatically debited from PMC Bank Account on your payment due date every month. The payment will be credited in your Credit Card Account on same day. The customer is required to maintain sufficient balance for the same on or before 10:00 am of due date.

  40. What happens if payment made exceeds the Total Amount Due (TAD)?
  41. The excess payment over and above the Total Amount Due (TAD) shall reflect as a Credit balance in Card Account and can be utilized by Card Holder for future purchases.

  42. How do I receive information for my transactions?
  43. The Cardholder shall be receiving transaction alerts through SMS and Email in respect of all transactions done through the Credit Card irrespective of the amount. The transaction SMS would mention the Place of Transaction (Merchant Name), Transaction Amount and Transaction Date with Time.
    Alternatively, the Cardholder can also access the transaction data in Customer Web Module.

  44. Are EMI options available? How to convert to EMI mode? What are the charges?
  45. A Cardholder can opt for converting the transaction to an EMI Mode. POS and E-com Transactions above Rs. 1000/- can be converted into EMIs for 3, 6, 9, 12 and 24 months.
    The request for EMI Conversion has to be done through email to cards.customercare@pmcbank.com
    Cardholder has to send the below details for quick resolution

    • Date of Transaction
    • Amount of Transaction
    • EMI Tenure
    • Customer ID and last 4 digit of Card Number

    • Interest is charged @1%pm (12%pa) as per reducing balance method on conversion to EMI transaction. There are no other incidental charges presently. The Cardholder has the option to pre-close the EMI facility and pay the balance amount in the next billing statement. Request for pre-closure of EMI has to be made by the Cardholder through email only to cards.customercare@pmcbank.com 
      First EMI installment (Principle and interest as two separate transactions) will be posted to card account on EMI processing day and subsequent EMI installment will be posted on first day of subsequent billing cycle i.e. 13th of every month (for unsecured product) and 18th of every month (for Secured product). There will be 3 components for each EMI i.e. Principle, Interest and GST on Interest Component. 
      EMI conversion depends upon the settlement of the transaction from acquirer bank, which is normally 7 working days from the date of transaction. 
      EMI conversion is available on transaction done and applied for 10 days prior to respective billing date.


  46. Who can apply for EMI Conversion of Transaction?
  47. Primary Cardholder can only apply for EMI Conversion of Transactions. Cash Transactions are not eligible for EMI facility.

  48. What is EMI pre-closure?
  49. Primary Cardholder can opt for pre-closure of EMI, wherein he has to sent a request mail to cards.customercare@pmcbank.com The EMI will be pre-closed and debited to his card account. This will be billed fully in his next statement and be part of ‘Minimum Amount Due’ in full.

  50. Can the Card be used for International transactions?
  51. Yes, the Card can be used for International Transactions. However, the Card shall be inactive for international use by default at the time of card issuance, unless it is specifically marked to the contrary in the Card Application Form.

  52. What are the charges for the International transactions?
  53. There will be mark up of 3.50% with respect to the international transactions done on the Credit Card plus taxes as applicable.

  54. Can the Primary Card Holder avail Add-on Cards Facility?
  55. The Card holder can opt for availing a maximum of 3 Add-on Cards against the Primary Card Account in his/her name. The Add-on Cards can be granted to family members i.e. Spouse, Parents, Siblings (above 18 years of age) and Children (above 18 years of age) of the Card holder. The cardholder needs to make separate application for the same.
    Transaction Alerts in respect of the transactions done by the Add-on Card holder shall be received by Primary Card holder.

  56. How to report a transaction dispute incurred using credit card?
  57. A disputed transaction can be reported by filling up the dispute form and informing the Bank through Email at cards.customercare@pmcbank.com or by calling the customer care centre to report the transaction dispute. The form is readily available on our official website.

  58. What is the time frame to report Credit Card transaction disputes?
  59.    Credit Card transaction dispute needs to be reported in writing within 60 days from the statement date in which the said transaction appears..

  60. What happens in the event of the unfortunate Death of Card holder?
  61. Without prejudice to anything contained herein, in the event of death of a card holder, PMC Bank reserves the right to pursue all courses available to it under law and equity to recover any card outstanding, including recovery of the card outstanding from any applicable insurance or from heirs/ executors/ administrators/ family members of the card holder or from the account by the way of lien or set-off of all the card outstanding dues against the credit balances available in any of the accounts.

  62. What is fuel surcharge levied on fuel purchases?
  63. A surcharge of 1% is charged (minimum Rs. 10) + applicable taxes by petrol pumps for fuel purchased through credit card, which is debited by the acquirer bank to issuer during settlement. Government of India as part of digital initiative gives cash back of 0.75% of transaction amount which is passed on to customer post settlement. Fuel surcharge is not applicable on co-branded credit cards which are specially issued for fuel purchases.
    Note: The rate of surcharge may vary depending on the fuel station and their acquirer bank.

  64. What is CVV?
  65. CVV is a 3 digit number printed on the back side of the card to the right of the signature panel. The CVV is required for authenticating E-Com transactions and is unique to each card. This number is pre-printed on the Card and cannot be changed by cardholder.

  66. When is card Hot-listing?
  67. A Credit card is Hotlisted when it is lost, stolen or damaged.

  68. How to hotlist the Credit Card?
  69. In case the Credit Card is lost or stolen then the cardholder can hotlist his/her Card through the Web Portal or by sending SMS (24X7) or by contacting the Customer Care Centre between 8am to 11pm.
    The customer has to send SMS text as BLOCK (SPACE) LAST 4 DIGIT OF CARD NUMBER to 9773251313 and hot mark the Credit Card. For example, BLOCK 1234 to 9773251313. Confirmation Response SMS and E-mail will be sent to registered mobile number and Email id of cardholder post hotlisting.
    The feature of this service is as under:

    • a) Customer can hotmark Credit Card through his/her registered mobile number only.
    • b) Add-on Cardholders can also hotmark his/her Credit Card linked to his/her registered mobile number.
    • c) Status of the card cannot be changed once hotmarked.
    • d) The card is hotmarked on Real Time Basis.

  70. How to raise request for Replacement of Card?
  71. The cardholder has to request for replacement of Credit Card through Web Portal or by contacting the Customer Care Centre if his card is Hotlisted due to “Card Lost” or “Card Stolen”. For any other reason, customer has to be guided to email at cards.customercare@pmcbank.com for placing request towards replacement of Card.

  72. How would new card be processed on expiry of existing card?
  73. The existing credit card will be valid for the period of 48 months from the card issue month. The credit card will be automatically renewed one month prior to the existing card expiry date and the new Card will be send to the customer registered mailing address.

  74. How to contact the Customer Care Centre?
  75. The Bank has set up dedicated Customer Care Centre with toll free number 1800 223 993. Alternatively, the Card holder can also reach the Bank (Credit Card Division) by communicating through email only - cards.customercare@pmcbank.com

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