MoneyLens · Credit cards
Your credit card, explained.
Why interest was charged, whether every fee on your statement is allowed, what paying only the minimum really costs, and what a “no-cost” EMI costs, worked out by code from your own statement and your card's terms.
Statement checksMinimum-due studioLate-fee and charge checks
Check your credit cardPrivate
Choosing between two cards? Put their costs side by side Statements are often password-protected: Myra asks for the password, uses it once and forgets it.
Or see a sample: where are you with the card?
Open the sample report →Card numbers are kept as the last 4 digits only. Myra never asks for your CVV, PIN or OTP, and never shares your documents. Once a statement is read you can delete it and keep only the figures.
What you see first
Your statement, read line by line.
Your card statement
Statement5 Oct
Total amount due
₹35,126
By 25 Oct 2026 · 7 days left
Minimum due
₹1,756
Avoids a late fee, not interest
Interest this month
₹1,250
+ GST · 3.60% a month
Card rate a year
52.9%
3.60% a month, compounded
23.4% of your ₹1,50,000 limit used₹1,14,874 available
Pay ₹35,126 by 25 Oct 2026 to stop further interest. Paying only the minimum would take 22 years 1 month and cost ₹1,34,361 in interest and GST.
Myra's most important observations
Six questions, answeredSample: monthly statement · Tapti Bank Ltd
Q1How much do I need to pay, and by when?₹35,126by 25 Oct · minimum ₹1,756Q2What does paying only the minimum cost?₹1,34,361over 22 yrs 1 moQ3Why was I charged interest?₹1,250part of the bill carried overQ4Are the charges on this statement right?2 to check₹1,399 in questionQ5What does the card really cost?52.9%interest a year, compoundedQ6What can Ask Myra help me with?4 answers readyCited from your documents
What Myra finds
In rupees, from the documents.
On the samples: money you may be owed, could save, or have at risk. Each figure is a finding's own, with its calculation and source; options are never added together.
01 · The minimum-due trap
What paying only the minimum really costs.
The minimum avoids a late fee, not interest. Move the sliders: the balance, the card's rate, the minimum, or a fixed amount instead. Free, no sign-in.
Minimum due · how long and what it costs
Prefilled from Statement p.1, Account summary · Statement p.1, Statement summary
₹35,126
3.60%
5.0%
₹3,500
Only the minimum (₹1,756 now)
22 yrs 1 mo₹1,34,361 interest + GST
₹3,500 every month
1 yr 1 mo₹9,132 interest + GST
Balance left each month · minimum only (black) vs fixed amount
₹0
₹0
₹0
Interest and GST until the balance is cleared
Assumptions & limits. No new spending; the first payment is made now, then interest at the monthly rate on what's left plus 18% GST (the card charges it daily from each transaction, so real figures are close, not exact). Minimum due: 5.0% of everything due, at least ₹200. Late fees and annual fees are left out.
02 · On every statement
Eight checks, one report.
Each one runs only when your documents support it, cites the line it used, and says what's still to confirm.
— 01Late fee though the minimum was paidIf at least the minimum reached the bank by the due date, the account wasn't past due: no late fee.
Sample: Monthly statementOpen →
— 02Late fee too early, or on the whole billOnly once a payment is more than 3 days late, and only on what was unpaid after the due date.Sample: Monthly statementOpen →
— 03Charges your card doesn't discloseEvery fee on the statement against the card's KFS and MITC, with a ready email for anything that isn't there.Sample: Monthly statementOpen →
— 04Interest, rebuiltThis month's interest rebuilt from your two latest statements and their transactions (read, totalled, not kept), against what was charged.Sample: Monthly statementOpen →
— 05Does the statement add up?Previous balance, payments, purchases, interest, fees and GST against the total due, and GST at 18% of the interest and fees.Sample: Monthly statementOpen →
— 06Balance transfer: keep it or move itAnother card's offer against keeping the balance: its fee and GST, the rate after the offer months, paying the same each month.Sample: Monthly statementOpen →
— 07Cash withdrawalsA fee, its GST, and interest from day one: what ₹10,000 for a month really costs.Sample: New cardOpen →
— 08“No-cost” EMIsThe interest comes back as a discount; the GST and processing fee don't.Sample: Card EMIOpen →
03 · Card EMIs
Is the “no-cost” EMI really free?
Sample: This "no-cost" EMI costs ₹712.
Card EMI · what converting costs
Prefilled from EMI conversion p.1
₹60,000
15.0%
6 months
₹199
“No-cost” EMI · 6 × ₹10,442
₹712Total cost · APR 3.9%
Carry it on the card, paying ₹10,442 a month
₹7,008Interest + GST over 7 months
The interest is given back, but the GST on it and the processing fee aren't, so this "no-cost" EMI costs ₹712.
Assumptions & limits. Reducing-balance EMI; the card bills 18% GST on each month's interest and on the processing fee. "No-cost" here means the interest comes back as an upfront discount, the usual way it's given. Carrying the balance instead: the card's 3.60% a month on what's left after each payment, paying the same amount, no new spending.
India-specific rules
Rules, not search results.
RBI's credit-card directions, applied by the date of your statement. Myra never calls a charge wrong without saying which rule and which line of your statement it used.
| Area | What Myra checks on your card |
|---|---|
| Late-payment charges | Only when the account is past due for more than 3 days from the due date, and only on the amount unpaid after it, not the total due. |
| Interest | Only on the outstanding amount, adjusted for payments, refunds and reversals. The interest-free period is suspended while any of the last bill is unpaid. |
| Charges | Only those in the card's Key Fact Statement and MITC. Unpaid charges and taxes can't be turned into balance that earns interest. |
| Minimum amount due | Each statement warns that paying only the minimum stretches repayment and compounds interest. |
| Credit limit and cards | No limit increase without your consent, and no card sent unasked. |
| Closing the card | Within 7 working days of your request once dues are paid, or ₹500 a calendar day to you; the credit report updated. |
| Complaints | Write to the bank first. After 30 days, or an unhelpful reply, the RBI Ombudsman, free. |
Applied byStatement dateCard issuer: bank or NBFCThe card's KFS and MITCRule effective date
Ask Myra
Questions cardholders actually ask.
Answered from your statement and the card's terms, with the line, the calculation and what's still unconfirmed. Drafts an email to the bank when one would help; you send it.
Your statement
Choosing a card
A reason to check every statement.
Personal credit cards from banks and NBFCs. The samples use an invented bank.