Glossary of terms commonly used in the Wallet


5 Information

automatic insurance

The insurance service that comes with a credit card when it is issued is called supplementary insurance. The card issuer is the policyholder and the cardholder is the insured, and this service is provided as a benefit when signing up for a credit card.

maximum interest rate

The maximum interest rate is the upper limit of the lending interest rate set by law. The two most common laws that stipulate the maximum interest rate are the Interest Rate Restriction Act and the Capital Subscription Law.


Pre-authorization is the act of obtaining permission in advance to use an amount in excess of the credit card’s established limit. Once pre-authorization is obtained, the amount exceeding the credit limit can be used. This is mainly used for high-cost purchases and overseas travel.

sales on credit

Sales on credit refers to the process of checking a consumer’s credit report and paying for the purchase based on the circumstances. When you apply for a purchase using sale on credit, you then pay the amount in installments.

shopping insurance

Shopping insurance is an insurance policy that provides coverage for items purchased with a credit card if they are damaged or stolen. It is a type of automatic credit card coverage, which means that you are automatically insured when your card is issued.

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