Well I got a Manhattan Card almost a year before and since I was paying my bills regularly on time, I really didn’t have any problems with it. . My credit limit was over 1L and I had swiped the card for~70k and had paid~56k.
To my surprise I got a SMS from them informing that I had utilized 90% of my credit limit. I was alarmed, thought someone has misused my card and contacted the customer care.
The lady who spoke was not really informative. She informed my outstanding as my total credit Limit(!). After some time she informed me that my credit limit was decreased to 16k(!).
What a way to develop business!. With a person with good knowledge on the credit card industry I was totally surprised.
1) They should have informed me this before. If they can send me an SMS on my usage, why didn’t they inform me of the decrease in credit line. Payment information is SMS-ed and decrease in credit line is posted! why?
2) If I were in a foreign country and relied on this card, what would have been the situation?
3) I was informed that there were certain policies due to which the limit has been decreased. Seems like there is a different policy for different person(!) bcoz some of my friends who bought the card along with me did not get any information!.
4) Most importantly, when I asked the customer care abt the procedures to close the card, she didn’t even bother to persuade me. instead she asked to pay my dues and inform them so that they will close the card. Seems like they don’t bother about the customer at all.
So ppl, think twice before you get a Manhattan. The initial stages might be ok, but you never know what can happen later. Unilateral decisions and undocumented policies are sure to taunt you to make your life hectic. I believe even people in Stand Chart will think twice or thrice before going for this card. -)