An ideal card with no hassles. Review on Tata Card

TATA CREDIT CARD seems to be one of the hassle free cards. I am 101% satisfied with the card in all aspects. No complaints after 6+ months of usage. Very Good. 5 rating.

Hope you enjoy my reviews. I keep on writing about the products and services I use on a day day life. This is a short review on the TATA Credit Card, which I have been using for a while and found it a hassle free one. When you think of a credit card, you would primarily think about its hassles. (That's what a middle class and society fearing man would do !! ). And then you would come on its benefits and rewards. If yes, you are a successful finance manager.

This credit card comes in 2 variants. Premier and Previlege. I don't know what mine is . (Belive me !!). The brochure / phamplet spoke about joining fee of Rs. 1000 and annual renewal fee also. But as I work for one of the TATA entities, the rep promised me that I have to pay neither. And he kept his word. It was true.

The brand TATA shows the perfection in its services. This card also brough me an offer of 250 Empower points if I spend Rs. 1000 in the first billing cycle of this card. I did it for Rs. 5600+ at a swipe in my favourite Sumangali Jewellery when I redeemed my jewel saving money in the form of 8 grams ear steds for my wife. The remaining was the bill I paid for 5.6k.

TATA kept its word and credited the assured 250 welcome points in the next 60 days. For each 100 rupees I spend, I get a reward point which fetches Re. 1 of purchase at TATA partner outlets and tie-ups. I've not utilised any even though I have around 500 points now.

I've used this card only in Sumangali Jewellery and not anywhere else. Hnce this has become my gold fetching card as I have Citi Titanium (Indian Oil) and HDFC Platinum Plus Chip for my other spends. They too are equally good cards. I have reviews on them too. If interested, please go through them.

CREDIT CARDS can basically be compared to a knife, in my opinion. As a knife can be used to cut vegetables and also to commit a crime, similarly a CREDIT Card can be a boon or a bane to one and this completely depends on the way he utilizes and the way he pays the credit back IN TIME. If I fail to pay in time, I am taken for a toss. The credit card company will bill me Interest on the outstanding amount + late payment charges+ over limit (if applicable) and also interest on the subsequent purchases and spends till the outstanding is settled in full. This is somewhat I am not in favour of. As the saying goes - "Prevention is better than cure", I prevent rather than to cure.

My TATA Credit Card gets billed on every 10th day of the month and the due date falls on 30th of the same month, which I am little uncomfortable with. I called up the Customer Care to get the due date moved to any day after 1st of next month as I get my salary paid on the last working day of the month (31st, mostly). But TATA Credit Card Customer Service couldn't help me in that. I don't know why. When Citi moved my due date from 28th to 1st of the next month, why TATA couldn't.

But this incident did not impact me in anyway as I am a financially disciplined man and I know what I spend and what I owe and on which date I am due to pay each of my card bills. Moreoever for TATA Card payment, I keep surplus money in my another private Bank account ready to pay on 30th, which is a way before my salary being creditd.

My Suggestions to Credit Card Users

1. Do spend on what you can financially afford for. Do not go beyond limits in anything.

2. Remember how much you outstand for on each of your cards.

3. Remember the due date ( either as a reminder in your cell phone or computer or anywhere). There will be SMS and EMails sent out by the credit card company.

4. Pay the whole outstanding before due date and well in advance if possible, to avoid last minute rush ups.

5. Avoid depositing cheques. All banks now offer very comfortable zone for paying the bills online using Netbanking, Debit Cards of same bank you hold the credit card with or even other bank accounts too. Utilise that. Cheques may be cleared in delay and cause confusion.

6. If you make a purchase for a bulk amount which you cannot pay in a single shot, convert the same into EMI by calling your credit card service provider within stipulated time period. Get it done on the same day if possible. Even Merchants offer EMI option at a charge. There are offers at times with certain merchants who provide you with 0% EMI option which will be more comfortable.

7. In some unavoidable circumstances whre you are not in a position to pay the full amount due, please make sure you pay the minimum due amount showsn in the bill or the sms sent for the same as this would save on your late payment charges which are bulky. You will be charged only the interest on the remaining unpaid balance. That would be far better than paying all unwanted charges. Normally the Minimum Amount due should be 5% of your total outstanding with a minimum amount say Rs. 100 or Rs. 200, whichever is more.

8. Please do not even take bad payment records easy as this would hit bad on your Credit History. (Even Indians have Credit History and Credit Scores like Americans). If there is a negative remark on your credit history, it will raise a question mark on lenders when you apply for a loan or a credit with any organisation.

There is something called CIBIL, which keeps tracking your financial information, no. of accounts held by you, loans, credit cards, your payment records and everything. So if you miss on a credit card payment and show a negative track, your Credit Card company is pretty sure to append your name and details to CIBIL records, post which it will be very difficult and in most cases, impossible to get any further loans from any bank.

Hope this was pretty useful. If I feel like adding any more suggestions, I would keep updating.

Thanks for reading.

Yours.

Kumar