ini card. Mighty punch.

That is how the Standard Chartered Bank web site described one of its credit cards. The Mini Card is aimed at the under 30 age group and is the only funky card of its kind in this category.

Mini? They said so. I believe them. 

Mighty punch? I decided to figure that out for myself.

I began by going to the web site to find out what's hot (and not) about this card.

It's free!

My very first question was: How much would it cost me?

I loved the answer.

Nothing. Absolutely nothing. Zero entrance fee and low annual fees.

Oh, oh! Was my happiness to be short-lived? What about the annual fee? Well, I do end up paying a renewal fee down the road. After a year, I would be expected to pay an annual fee of Rs 349 and a renewal fee of Rs 499 thereafter.

Which is not a bad deal when compared to the other cards offered by Standard Chartered. If I opted for, say, the Classic Card, I would pay Rs 100 as the entrance fee and Rs 700 as a renewal. The Wild Life Card appealed to me but its entrance fee (Rs 1,299) didn't, though they peg it as a four-year fee. The Cricket Card has no entrance fee but it does have an annual fee of Rs 1,500 (valid for four years). There's no way I'm parting with that kind of money.

You get cheap money!

What could be more interesting? Well, if I am revolving credit on another card (which basically means I've spent too much, am in debt with my card company and paying interest because I can't pay what I owe them when I should), I can transfer that amount to this card.

Transfer your outstanding balance from any other credit card to the Standard Chartered global credit card at a special rate of only 1.75 percent per month instead of the 2.95 percent per month you are currently paying.

Boy! Was I excited.

I clicked on the Locator link (under the picture on the left hand navigation bar), tracked down the customer service number and gave them a call. I just had to confirm the great news. The sweet voice on the other end told me she would check and revert. She did and said the rate of interest was not 1.75 percent but 0.99 percent per month.

This was even better. But I like to err on the side of caution.

I told her what I read on the web site, sure she would realise her mistake and I would wake up from this dream. She apologetically replied, "The web site may not be updated."

Pinch me someone; I think I'm dreaming!

For how long? I ask her.

Six months. Then the rate of interest reverts to normal (2.95 percent per month).

All right. You have me hooked.

It's a globally accepted Visa card as well!

Before I put the phone down, two statements caught my eye.

Also, the Standard Chartered Visa Mini card is a companion card to your regular size Standard Chartered Credit Card. Which means you enjoy twice the benefit, both from the Mini card and the regular one.

"What does it mean?" I asked her.

"Oh, it means you cannot use the Mini card at certain shops or ATMs!"

Due to its miniature size (which is also its USP), the Mini can only be swiped. It can be used in most stores, but cannot be used in places which require a manual imprint of the card to complete a transaction. Neither can it be used at ATMs where the terminals require the card to be inserted rather than swiped.

"That's why," explained the Standard Chartered customer service executive, "we offer a companion card."

The companion card is a regular-sized Standard Chartered Credit Card that comes along with the Mini Card (Strange! I don't have a companion but my credit card does). I am to use the companion when Mini fails.

So why would I want a Mini card? The web site answered that question. Because it is cool and hip. It comes in various colours and can be clipped to my cell phone or my key chain. And its more more efficient counterpart could reside in my handbag.

Nah! Not enticing enough.

Here come the deals (and the contests)!

By now, I was losing interest. Then I came across this sweetener: Over 150 cool offers.

Not bad. I decided to check them out.

I discovered that, if you are fortunate enough to be living in Mumbai, Delhi or Bangalore, you could get some pretty cool deals. Other cards have deals too. But if you are like me and love to eat out, visit pubs, shop for books or are considering enrolling in a gym, then these offers are a 'must look'.

That does not mean my friends in other cities are excluded. Some of the 'national' include Dominos Pizza, Levi's, Switcher and Globus.

But 150?

I decided to count the deals listed on the web site. I counted 82 (Delhi: 29, Bombay: 27, Bangalore: 26) and four national offers. All right, maybe all were not listed.

Regular interactive SMS and e-mail contests with solid prizes.

Sounds good. Except for the fact that I hate contests. I never win!

So what else is in it for me?

Well, they told me what was not in it. Insurance.

Standard Chartered VISA Mini Cards do not offer an insurance cover.

Other cards offer insurance. Depending on the type of cards, you will get an insurance cover for accidental death (air, rail, road, pedestrian), hijacking risk, flight delay, lost card insurance, global purchase protection, delayed or lost baggage and loss of travel documents. 

Anyway, eternal optimist that I am, I don't think I will need it.

I decided to verify everything again (I told you I am cautious) and promptly called customer service.

This time I happened to get hold of a young (and even more helpful) man.

I began by asking him the rate of interest on balance transfer (remember, this card allows you to transfer outstanding credit from other cards?). His prompt reply, "0.99 per cent per month." He didn't even have to check! 

This guy knew his stuff. He explained that, in a normal scheme, this rate of interest is applicable for six months. But if I took the festival offer, it would be valid for 36 months (revolving credit can be transferred for just 0.99 per cent per month for 36 months!).

"How long is the festival offer on for?" I gasped breathlessly.

He wasn't sure of the exact date but was pretty the scheme would be on till the end of the month.

Well, I guess that made up my mind. So what if it means carrying two cards!

 Want it?

It's free. It's funky. And it has a great business proposition if you are revolving credit on your card. 

If you want to check it out, walk into any Standard Chartered Bank branch. Else, go to their web site.

On this page, you will find an Apply Now link (just above the Important Info table). It leads you to a page where you have to fill in certain details. The bank will then get in touch with you.

Image: Dominic Xavier