Credit Card Reviews

Over the last 3 years, I've used a lot of credit cards. This, unfortunately, goes to show that I have poor financial planning. But, these days, I am waaaaaaaaaaaay better off in terms of my money management skills. So well wishers - relax. I wont come knocking at your doors asking you to bail me out of my debt crisis!
;)

I'm gonna take this opportunity to talk about the pros and cons of the cards I've used so far.


~~~~~~~~~
Manhattan
~~~~~~~~~

Pros:
.1. It comes with a 1 year free "Manhattan Club Membership". This membership entails you to a lot of smooth and saucy offers. Like invites to Page 3 events, hassle-free booking of Movie Tickets - and that too on the opening day, good offers, etc.
.2. Balance Transferring on this card is a joy. Unlike other credit card companies, Manhattan assigns a new account number to your Balance Transfer requests. Therefore, you can shop on your card while you still have a balance transfer ongoing with them. When you make the payment - you get to specify how much percentage of the amount being paid goes to which account.
.3. Manhattan Credit Card Bill Payment Drop Boxes were scattered across the city. Also, one could drop the cheques at Standard Chartered ATM's. Ergo, repayment dues was a hassle free process.

Cons:
.1. My credit limit was pretty low - only Rs. 15,000/-. So, I found it inconvenient when I wanted to use my credit card for transactions of a larger value.
.2. After the first year, one has to pay Rs. 750/- if you want to continue the "Manhattan Club Membership".


~~~~~~~~~~~
HDFC Silver
~~~~~~~~~~~

Pros:
.1. Petrol Surcharge waivered at HP petrol pumps.

Cons:
.1. Credit Limit was lower still - only Rs. 20,000/-. So, I found it inconvenient when I wanted to use my credit card for transactions of a larger value.
.2. No special offers, nor discounts, etc offered on this card.


~~~~~~~~~
HSBC Gold
~~~~~~~~~

Pros:
.1. Prompt and very friendly customer service.
.2. Give a lot of importance to customer having a "Wonderful Experience".
.3. A grace period of 2 - 3 days permitted for Credit card repayment.
.4. 0 % Interest Balance transfer option available.
.5. Customer Service also features a feature loaded IVR system. This avoids the need to wait for a Customer Service Representative to be available.
.6. Online Banking available.
.7. Attractive gifts available while redeeming Reward Points.

Cons:
.1. Credit Limit is not enhanced even if the customer is a long standing one.
.2. If you avail the balance transfer option, any purchases done on the card will attract an interest component, @ 3% p.m, of the total retail purchase value - till the time the outstanding on the balance transfer is not cleared. In effect, it becomes suicidal to shop on you HSBC card if you have availed/plan to avail a Balance Transfer option.


~~~
SBI
~~~

Pros:
.1. Railway Ticket Booking - 2nd A/C upwards - entitles you to a discount of 10%
.2. Credit Limit is higher - Rs. 68,000/-

Cons:
.1. Very inefficient, rude, and defunt customer service.
.2. Doesn't give importance to customer experience.
.3. Drop Boxes are far and few in between.
.4. Can't drop credit card payment cheques at SBI ATM's.


~~~~~~~~~
HDFC Gold
~~~~~~~~~

Pros:
.1. Higher Credit Limit
.2. Membership to a variety of offers/discounts schemes with various vendors across cities.
.3. Online Banking available.

Cons:
.1. Billing Statements are not sent on time.


~~~~~
ICICI
~~~~~

Pros:
.1. Online Banking Available
.2. Very friendly customer service
.3. Option to link Savings-Banking-Demat-Credit Card-and-Loan Account.
.4. Mobile Banking possible.
.5. Online Bill Payment options available.

Cons:
.1. Credit Limit slightly lower than needed - Rs. 70,000/-


~~~~~~~~~
CITI Gold
~~~~~~~~~

Pros:
.1. 1% Cash Back on all purchases
.2. Very High Credit Limit - Rs. 1,20,000/-
.3. Options to increase credit limit over phone.

Cons:
.1. Repayment cheques have to be dropped only at CITI Bank ATM's - which are far and few in between.