From the “Important Information Document” bundled along with the Manhattan Platinum Credit Card application:
Death and Insolvency of a Cardholder: The entire outstanding dues in the Card account shall become payable in full by your successors or assignees in the event of your death or insolvency or winding of your business.
Credit APR = 37.20%
Cash APR = 41.88%
I doubt if the “death and insolvency” condition is even legal. Unless you personally guarantee something by putting down your signature, how on Earth can you be implicitly held responsible for paying someone else’s unsecured debt?
The interest rates are closer to “extortion,” but the Card Issuer (Standard Chartered Bank) claims that these are special rates on offer. Makes me wonder what their non-special rates are!
The only good thing about this credit card is that it self-destructs (i.e. becomes invalid) automatically unless you choose to explicitly renew it after a year (by paying an annual fee of Rs 999).