Pushpendra Mehta, consultant, CCMC, says that it is India's first onlinesuitable credit card selection service for existing and prospectivecardholders across the country. Mehta says: ``It is a process of makingindividuals aware that there is a particular method of opting for the rightcredit card, just as there is a way of selecting an appropriate personalfinance product, insurance policy or mutual fund.''

Mehta explains the process of selection of a credit card. Prospective andexisting cardholders need to fill up a form, which is designed for thispurpose, says Mehta. This form is available online at CCMC's website. Oncethe form is submitted online, CCMC analyses the form and customises itsadvice based on the individual's needs, requirements and financials, keepingin mind CCMC's internal credit criteria, he adds.

The recommendations will be e-mailed to you within 48 hours of submission ofthe form at CCMC's website, says Mehta. So in just about two days, all yourworries regarding the right credit card will be taken care of. Adds Mehta:``The recommendations will be purely advisory in nature and is anotherendeavour on our behalf to create a well-informed card base in the country.''But what does CCMC actually ask you before it decides on the right card foryou? Mehta says that the form requests individuals to answer inquisitions indetail under various categories: tell us about yourself; your work; yourincome and expenses, including monthly payment of loans and other creditcards; your main bank; your views on various aspects of cards. The lastcategory includes 20 questions in the form of an on-going survey to find outan individual's preferences while selecting or using a card.

Don't have any fears on the confidentiality of the process. Says Mehta:``CCMC believes that maintaining the privacy of every individual's responsesis imperative and all such responses via the form filling exercises byindividuals will be kept strictly confidential, used primarily to recommendan appropriate credit card to an individual.''

And since it's a job close to CCMC's heart, it's likely to do it well. Mehtasays: ``CCMC's recommendations on appropriate credit card selection is basedon its one-stop expertise in card consulting and research assignments,holistic comparison of key areas and functions of cards management/operations of card issuing banks/organisations in the country, etc.''Talking about the objective behind the new service, Mehta says that it hasbeen found by CCMC's in-house research that a large section of individualsopt for a particular card because of word-of-mouth referrals, visibility ofthe card, or because they are aware of only a few cards.

He adds: ``Most of them miss out on the imperative comparison between thefine print details of the card and their financials and requirements.'' Theend result? A mismatch between the individual's profile and a particularcard's offerings, says Mehta. Therefore, it is necessary to choose a cardwith care, in conformity with an individual's expectations, requirements andability to repay, he stresses.

Mehta explains the danger of selecting the wrong card with examples. Forone, you could get stuck in an emergency. Or you could spend more than youcan repay. Or probably face embarrassment or problems when the card isdeemed unacceptable. Or end up paying more interest on outstandings orborrowings. The list is never-ending, and sometimes even the so-calledbenefits may not be so rewarding. For instance, you may end up with arewards programme with little benefit to you, says Mehta.

Quite certain that the online card selection service will be a big hit withpeople, Mehta says that the response has already been terrific. He reasonsthus: ``Customised advice for selecting credit cards has been a long feltneed of consumers.'' And to prove CCMC right, individuals have logged infrom Japan, Mumbai, Delhi, Calcutta, Bangalore, Chennai, Coimbatore, Jaipur,Indore, Vadodara, Pune, Calcutta, Hyderabad, Ahmedabad, Jamshedpur, Surat,Bangalore, Nagpur, Varanasi, Visakhapatnam, Udaipur and Ludhiana to avail ofthe service!