When you see a financial offer that sounds too good to be true, you should always read the fine print.

For example, a recent issue of Outlook Money carried an ad from Kotak Mahindra Bank that touts a 48-day interest free period on cash withdrawals done using the Kotak Fortune Gold [Credit] Card in lieu for a flat-fee of Rs 199. Sounds too good to be true right? I mean…no interest for 48-days and just Rs 199…wow!

But, on the 49th day, when you receive your credit card bill, you discover that

1. There is a flat-fee of Rs 199 for every Rs 10,000 withdrawn.
2. There is a service tax @ 12.36% on this flat-fee.

So, you’re being charged approximately Rs 223.60 for every Rs 10,000 that you withdraw! And where exactly were these details provided? In the fine print (printed in microscopic fonts)! How often do you stop to read the fine print?

Such practices are what I hope to expose through The Hidden Rupee series.

On a different note, this credit card is aptly named — just that you are not the one who’s making the fortune. How can you? Especially when this credit card encourages you to use it for

• Personal emergencies, and
• Business emergencies.

If that’s what you actually use your credit card for, you seriously need to rethink your finances.