Who's doing what
The credit card market is getting cluttered. There is some new offering or the other every other day. With so much action, it has become all the more important to stand out and fight for mind-space. You got to innovate, run to stand in the same place.Take Citibank `Convenience Cheques'. It allows cardholders to issue cheques against credit cards for payment of utility bills, school fees, college fees, medical and insurance expenses and other bills.
These are no different from cheques issued from savings and current bank accounts, and have 30 days of interest-free credit factored in.
Three convenience cheques can be issued for any amount up to Rs 3,001 totalling Rs 9,003, and there are reward points as well on the amount withdrawn.
At HSBC, you are implored to “chew” your credit card.
Freak out at 154 restaurants like at The Oberoi's `Bay View', The Taj President’s ‘El Mexicano’ and at ‘Copa Cabaana’ while in Mumbai or at New Delhi’s Maurya Sheraton `Pavilion' and Radisson Hotel’s ‘I’ching’ even as you get 15 to 20 per cent discounts on food and beverages. Add-ons include a slogan contest, and if you win, you could gorge on more. This time free!
Again, what happens if you are not a frequent flier: you get no benefits? You can with a StanChart card. The Bank’s ‘Travel Cash Back’ scheme is one of the best around. StanChart has structured this facility in association with Cox & Kings. Cardholders can get 3.5 and 6.5 per cent off on basic domestic and international air fares, respectively.
This is how it works: Fly six times on the Mumbai-Delhi route costing you around Rs 60,000 and save Rs 1,560. And that more than covers your annual fee on a StanChart `Executive' card at Rs 675. All this, over the phone.
On ANZ Grindlays Bank’s Gold card you could win a 52-diamond studded necklace specially made by Bhagwan Dass Khanna Jewellers, a leading outfit based in New Delhi.
This promo is not spend-driven, but referral driven: you earn a point for every new cardmember you manage to enroll in the ‘Silver’ category and three points for a `Gold' cardmember. You to win a Casio electronic data bank for a point earned, a Philips cordless headphone for 10-15 points, a Kenstar microwave for 31-40 points.