Did you get called at you office to join this scheme of free card for life?
Did you grab that offer?
Well... you just have been ’’had’’.
One must understand that there is nothing called a Free Credit Card. They will get your money somehow. In this case, heavy interest rates, late fees, phases of moon charges, direction of wind charges and soon enough you will end up paying more money than an average annual charge of a decent card.
Now you might say that you will pay your dues well in advance and keep good tab on your expenses.
Did you know that in a city like Bangalore, there are only a few payment outlets for Manhattan cards? By the time you locate one and make your payment, you are already too late (whoosh goes your 300Rs!). Next time you try the same place, but it is closed, or they have moved it out to some other place. They would go to various lengths to make you pay for the ’’Free’’ plastic they gave you. I should not even talk about their interest rates!
Agreed that they have a very chatty (read friendly) customer care, but your final outlay from the pocket is all that finally matters.
I sincerely request everyone, not to fall into this trap, unless you are a StanChart customer. I have transferred all the balance to another card since I was tired of paying interest on interest. Now I live a happy life!! (atleast until I have to pay my minimum usage penalty charges).