In the digital world where every click counts, trust is essential. Think of OTP as your personal secret code. It is the lock that keeps your online transactions safe. With OTP by your side, each tap or click is like a shield, protecting your money from the bad guys. When you transact online with your Credit Card, it does not end with just entering your card details and password.

While performing online transactions using your Lifetime-Free Credit Card, the card issuer must be sure it is you. That is where a One-Time Password comes in. After entering your card details, the bank sends a special code to your phone. It includes confidential OTP and changes each time you make a transaction. After entering your traditional password and PIN, it acts as a second layer of authentication.

Old techniques

Earlier, buying things online with a Credit Card was risky as it did not include OTPs. Fraudsters could steal your card details through data breaches or trap people in scams. This led to much money being lost and people not trusting online payments. Hence, OTPs were introduced to add a layer of security by ensuring that only you, with access to your phone, can complete the transaction.

It is a code that only you and your bank know, keeping your online purchases secure. OTPs are like secret codes between you and your bank when you use your Credit Card to make online transactions. After choosing what to buy online, fill in your Credit Card details for payment. Before the transaction is approved, the bank sends you a unique number to your phone, also called an OTP. It is valid only for one transaction for a short duration.

Once you receive the OTP on your phone, type it into the website section, where you are asked to input the OTP to make the purchase. After entering the correct OTP, the website knows you are making the purchase. So, they approve the transaction, and the purchase is done!

How to manage payments?

After a month of using your Lifetime-Free Credit Card, you get the statement on your registered mobile number or email address. It includes details like your Credit Card number, cardholder’s name, address, contact details, the number of purchases made, transactions, the total amount payable, the outstanding amount, due date, interest charges, etc.

It is advised to pay fully while paying your Credit Card bill. If you plan to break significant purchases into equated monthly instalments, you can do so by using the Credit Card EMI calculator. Enter variables in the respective fields, such as the Loan amount, interest rate, and tenure. The calculator later displays your monthly EMI, total interest paid, and total repayment amount.

Conclusion

Your Lifetime-Free Credit Card does not require you to pay annual fees. You can use it without worrying about recurring charges. However, standard fees like late payment or over-limit fees may apply if you misuse the card.