MoneyLens/Credit cards/Sample card

MoneyLens / Credit cards

Your card, explained.

Credit card · Tapti Rewards Card · Tapti Bank Ltd · ••••4417

Illustrative

Your card EMI

EMIConfirmation

EMI

₹10,442

6 months

Converted

₹60,000

Sold as no-cost

What it costs

₹712

Interest, GST and fees

APR

3.9%

Real yearly cost

This "no-cost" EMI costs ₹712

Myra's most important observations

What Myra found for you

From your documents · each figure opens its finding

You could save

Your choice: options, not added together

Six questions, answered

Tap an answer for the detail

01Product identity

ProductTapti Rewards Card
IssuerTapti Bank Ltd
Card••••4417
DocumentsKey Fact Statement · MITC / schedule of charges · EMI conversion

02What this is

A purchase of ₹60,000 on your Tapti Bank Ltd card converted into 6 EMIs of ₹10,442, sold as no-cost.

03Key numbers

Card in use

Interest a month

3.60%

As the card states it

Interest a year

52.9%

43.2% simple

Annual fee

₹999

Waived on ₹1,50,000 spend

Foreign currency

3.50%

Markup + GST

Cash withdrawal fee

2.50%

At least ₹500

04Important findings

Most important first · tap to expand

08What Myra could not verify

Latest card statement

The amount due, minimum due, interest and every charge this month

09Suggested questions

05What you're committing to

Pay the total amount due by the due date each month to keep the interest-free period
The minimum due avoids a late fee, not interest
₹999 annual fee + GST each year unless you spend ₹1,50,000
Check each statement's charges against the card's terms

06What can change

ChargesOnly those in the card's KFS or MITC; the issuer must tell you before changing them
Credit limitCan't be raised without your consent
Billing cycleYou can ask to change it (at least once)
InterestStarts on all purchases once part of a bill is carried over

07Closing the card

Closing the cardWithin 7 working days of your request once dues are paid; after that the issuer pays you ₹500 a day
Card EMIClosing it early costs 3.00% of what's left + GST
Credit reportCheck after about a month that it shows the card closed