In its test launch version, Rahul Khosla, country manager, South Asia, Visa International, writes: ``This guide primarily focusses on how you can use your credit card to your advantage as a safe, secure and convenient financial management tool.'' The guide is being updated to include global cards, a significant area for customers, before it arrives for circulation. Planned as a free product, it will be available at Visa member banks, ATM centres and other select venues.

Targeted at potential and existing card holders, this guide may emerge to be an answer to all consumer woes related to the credit card. In this context, it may be interesting to recall a credit card survey conducted by the Credit Card and Management Consultancy (CCMC) about a year ago. Hundreds of creditcard users were interviewed for the survey, and a majority of the answers showed a complete lack of awareness about the product. CCMC had at that point stressed the need for an awareness campaign, telling the consumer the various features of a credit card in a clear and simple manner.

It was also pointed out by CCMC then that the West had also had to go through a period of turmoil and uncertainty regarding `plastic money' before it became a way of life. Behind the success of `plastic' in the West was a movement to make it acceptable and a campaign to spread awareness among the consumers. In all this, therefore, the message for the Indian card issuers was: Guide the consumer. And now Visa International has taken a step in that direction.

The guide takes up questions, both simple and complex, and addresses them in a competent manner. For instance, it explains the concept of a credit card and that of a charge card. Very basic, it might seem to some, but for others it's vital information.

It says that acredit card is a payment card that offers the option of revolving credit. ``This means that when you have a credit card, you have the option of paying only a part of the amount billed and carrying forward the balance amount, on which you pay interest.'' As opposed to that, the guide explains a charge card as something that requires you to pay off the entire amount billed to you. ``There's no option for revolving credit,'' it says. After it has pointed out the difference between a credit and a charge card, the guide talks about the similarities. ``A credit card can serve as a charge card if you settle the entire amount billed to you.'' But there's no way that you can do the reverse. That is, the charge card can never be used like a credit card.

One of the striking features of this booklet is a box that defines terms like joining fee, annual fee, interest/service charge, cash advance fee and late payment charge. Interest/service charge is explained as a monthly interest rate that is levied on the outstandingbalance and calculated on the daily balance. On the other hand, late payment charge is a nominal fee that is levied if payment for the full amount or minimum amount due is not settled by the due date.

Among the other issues handled in the booklet are what you should look for when choosing a card; acceptance of cards; eligibility criteria; the usefulness of a card; how a card works, and card protection.

Plus, there are some useful tips on how to manage your finances and credit. It tells you, for example, to make a list of regular expenses, and add it up, and compare the total with the after-tax income. Then it asks you to work out the savings. The difference between your savings and expenses can be used for other purchases, it says. But don't forget the unplanned expenses!

And if you want to do a check on your creditworthiness, the Visa Payment Guide has a set of questions for you: