Somehow, after coming onto mouthshut, I have begun to consider myself quite an expert in every field under the sun! I never knew that I knew so much! Ahem!
Whoever has a job or doesnt, nowadays is sure to have a bunch of cards in his/her wallet! More than thinking if a card is practical, it is based on curiosity that a lot of us end up with pockets full of cards! Hey, thats what I did! As soon as I landed my first job, I got myself a SBI Visa, A HSBC Master, An American Express green, and 5 debit cards! So now I was hot property. Then, started the struggle. 40% of cash limit on these cards was too good to ignore and the interest was ignored!
This review is not to crib about my woes, but if one fella sitting out there is at the same stage, I hope to shed some light!
What to look for while going for a card
Dont fall for colourful product campaigns and ad lingos especially if this is to be your first card. Go for something simple and sweet- Ensure that the card hails from a local bank, i.e. a bank which has a branch in your city, so you can get in touch for any query and bills also can be paid in person. My woes with an american express card would make a 3hr long comedy! Some bills were wrong and to rectify them, god only knows how much I had to spend on STD to clarify, as their centres are only in metros. Also, try for the first level of a card, eg., silver or classic and not something fanciful. After a year of using the card, we can decide to change into gold etc.
This is strictly in accordance with my limited experience and inevitably, most of the multi national credit cards customer service is NOT friendly. When we speak to them, it is as if they have 2 small horns poking from their head! Grow up people, it is on us that you are surviving! I honestly felt that my HSBC card was the easiest to deal with and they are quite professional and user friendly. Especially, in most cities, EDC machines have been supplied by HSBC and hence, your card gets accepted in a jiffy. One word of caution- DO not go for an american express card if they dont have a centre in your city! So with other MNC’s.
Although Andhra Bank and Bank of Baroda were the first banks in India to come out with credit cards, it is pitiable that they would undoubtedly be running in close competition for the last place in the ratings. God help our institutions.
One more thing- keep your credit limit in check and read thru the instructions in detail before applying for a card.
Happy shopping