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Credit Card Loan Interview Questions & Answers - Learning Mode
COOLINTERVIEW.COM LOAN INTERVIEW QUESTIONS CREDIT CARD LOAN INTERVIEW QUESTIONS QUESTIONS & ANSWERS - LEARNING MODE

Credit Card Loan Interview Questions & Answers - Learning Mode

Credit cards serve many useful functions, including the ability to pay for purchases when you don't have cash on hand. The credit card issuer essentially loans you the money to make the purchase, and you will be able to repay that loan at a later date while being charged a certain interest rate. Credit cards serve many useful functions, including the ability to pay for purchases when you don't have cash on hand. The credit card issuer essentially loans you the money to make the purchase, and you will be able to repay that loan at a later date while being charged a certain interest rate. Advantages of a Loan on Credit Card: Most of the credit card loans are pre-approved and unsecured. You don't have to submit any documents or collateral to avail a loan on credit card. With loan on credit card, you have the option to convert your expensive purchases to easy monthly installments.

Try Credit Card Loan Interview Questions & Answers - Exam Mode

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Credit Card Loan Interview Questions & Answers - Learning Mode
Try Credit Card Loan Interview Questions & Answers - Exam Mode
Question: What is "Household Income" in case of applying for Credit Cards?

Answer: While evaluating applications for joint cards, banks take into account household income or the total income of all earning members in a household, which is called Household Income. Source: CoolInterview.com
Question: What is Card Holder Agreement for Credit Cards?

Answer: Card Holder Agreement for Credit Cards is the fine print statement of terms and conditions that a card holder signs on getting a card. Source: CoolInterview.com
Question: What is Issuing Bank for a Credit Card?

Answer: The issuing bank for a credit card, or issuer, as the term goes, refers to the banks that issue cards. Source: CoolInterview.com
Question: What is Credit Limit for a Credit Card?

Answer: Credit Limit for a Credit Card is the maximum amount that a card holder can spend on the card. The maximum spending limit is determined by the kind of card you own. Check with your bank on what your credit limit is. Source: CoolInterview.com
Question: What is the Lost Card Liability for a Credit Card?

Answer: If you lose your card or if it gets stolen, you must report the incident to the bank immediately in order to deactivate your card and prevent fraud. Liability fee on a lost or stolen card is payable on the expenses incurred during the period between the loss and your informing the bank. Source: CoolInterview.com
Question: What is the Monthly Interest Rate for a Credit Card?

Answer: Monthly Interest Rate for a Credit Card is the rate of interest charged for funds withdrawn from ATMs or funds carried forward beyond the free credit period. It can be anywhere between 2.5% to 4% per month. Source: CoolInterview.com
Question: What is Annual Percentage Rate (APR) for a Credit Card?

Answer: The interest rate that reflects the yearly cost of the interest the outstandings on your card is called the annual percentage rate. This rate is charged to the card holder on the amounts carried forward beyond the due date for the payment of balances. Most card issuers will tell you their monthly rate of interest. It might sound low at 3%, but when you look at the interest rate over the year, it turns out to be as high as 43%. Source: CoolInterview.com
Question: What is Entrance Fee for Credit Cards?

Answer: The entrance fee or the joining fee for Credit Cards is payable on approval of your application form. Again this fee varies depending upon the issuing bank and the type of card requested and is somewhere between Rs 100 to Rs 400. More often than not, this fee is waived. Source: CoolInterview.com
Question: What is Previous Balance for a Credit Card?

Answer: Previous Balance for a Credit Card is the method by which some card-issuing banks base their charges on the amount owed at the end of the previous billing cycle. Source: CoolInterview.com
Question: What is Cash Advance Facility in Credit Cards?

Answer: Cash Advance Facility in Credit Cards is the facility of using a credit card to withdraw cash from an ATM or Automatic Teller Machine. Source: CoolInterview.com
Question: What is the meaning of the Automation framework especially in SilkTest?

Answer: PIN or the Personal Identification Number is unique to every card and is a combination of numbers. It is normally a 16 digit number with the first 8 digits reserving information about the card issuer and the country. The next 8 stores customer information like the category of the member ( whether is a businessman, individual or NRI ). The PIN serves as a key, which allows you to avail certain services like cash withdrawal from automatic teller machines. This number is very important and must be Source: CoolInterview.com
Question: What is the Introductory/Intro Rate for a Credit Card?

Answer: Introductory/Intro Rate for a Credit Card is a special rate charged by a bank for the initial launch period of a card. It is normally lower and with specific intention to entice new users and existing card users to switch between cards. Source: CoolInterview.com
Question: A certain current source has the values IS = 4 ?A and RS = 1.2 M. The values for an equivalent voltage source are A. 4.8 V, 1.2 M B. 1 V, 1.2 M C. 4.8 V, 4.8 M D. 4.8 V, 1.2 M

Answer: Card issuing banks lend a specific sum of money to a card holder and allow that sum to be borrowed again once it has been repaid. Most credit cards offer revolving credit. Source: CoolInterview.com
Question: What are Offline Debit Cards?

Answer: Offline debit cards debit the amount spent to a card holder's bank account. A transaction using the offline debit card creates a debit against the card holder's bank account. But unlike with a traditional debit card, no PIN is required during the transaction - all that is required is the user's signature. These cards are generally issued by credit card companies in association with the bank in which the account is held. Source: CoolInterview.com
Question: Does CIBIL consider credit card defaults as bad loans?

Answer: Yes, your credit card account is treated as a non paying asset or NPA if you do not fully repay the minimum due amount within 90 days from the due date as mentioned in your credit card statement. So make sure that you repay all your credit card payments fully within 90 days from the due date
as mentioned in your credit card billing cycle. If you fail to repay the stipulated due amount on time, your credit card default will be considered at par with a loan default which can spoil your credit s Source: CoolInterview.com
Question: If the RC time constant of an integrator is increased, as the time constant is increased A. the capacitor charges more during a pulse and discharges less between pulses B. the capacitor charges less during a pulse and discharges more between pulses C. the capacitor charges more during a pulse and discharges more between pulses D. the capacitor charges less during a pulse and discharges less between pulses

Answer: When payments are not made in time and according to the agreement signed by the card holder, the account is said to be in default. If you are in default, the bank that has issued you your card is entitled to charge you a higher interest rate for that particular billing period as a penalty. Source: CoolInterview.com
Question: What is International Credit Card?

Answer: An International Credit Card entitles you to use your card overseas. You spend in the currency of the location that you are in and settle the dues in Indian rupees. Expenditure can be incurred up to your pre-fixed credit limit or up to the Basic Travel Quota (BTQ) guidelines that are set by the RBI. Source: CoolInterview.com
Question: What is General Insurance Cover for a Credit Card?

Answer: Every credit card user is automatically covered for a certain sum of money by the issuing bank. This General Insurance is paid to a card holder's family in the untimely event of death. General Insurance covers vary between bank to bank and also depend on the type of card owned. Source: CoolInterview.com
Question: What are Co-Branded Credit Cards?

Answer: Co-Branded Credit Card is a card that is offered by two organizations, one a lending institution, the other a non-financial group. Airlines, hotels and retail chains are known to offer co-branded cards. Special offers and discounts are the popular benefits of co-branded cards. Some non-financial groups that offer such cards also offer loyalty points on purchases made through the card. Source: CoolInterview.com
Question: What is Balance Transfer in case of Credit Cards?

Answer: Moving from one issuer to another with all unpaid credit card dues is called Balance transfer. To lure card holders away from their competitors in order to transfer their balances over to them and to ensure that their own customers stay within their fold, card issuers often offer attractive interest rates and payment facilities. Source: CoolInterview.com

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