MCB Credit Card

MCB Credit Card (Visa Platinum) – Product Review
May 24, 2016 Mrs. K Compare

MCB Credit Card (Visa Platinum)

 

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MCB Credit Card (Visa Platinum) is a card for customers with a distinguished profile. The card is acceptable at over 30 million merchants and vendors across 150 countries.

If you are interested in applying for the Platinum credit card at MCB, you will most likely face some challenges in determining whether you will be eligible. We tried to find out how much you are expected to earn to be eligible for the MCB Platinum Visa Credit card by calling the MCB contact center. Unfortunately, the contact center staff only had the basic requirement to apply for the card in question. They only had the basic criteria for applying for a card which is the monthly income of PKR 30,000 if you are salaried and 40,000 if you are self-employed. Furthermore, if you are self-employed you will need to demonstrate your monthly income by submitting a 6-month bank statement reflecting a healthy transaction history.

Now that we have the eligibility requirements out of the way let’s take a look at how the Platinum credit card performs across our 4 main assessment criteria’s.

APR & BTF Rate:

MCB Credit Card (Visa Platinum) annual percentage rate (APR) is 3.25% per month which comes out to 39% annually. One unique feature that the card offers customers is a reducing rate if you only pay the minimum payment every month. The card also offers a low balance transfer rate (BTF) in case you are looking at transferring balances from your other cards to the MCB credit card. The balance transfer rate is 1.88% which comes out to an annual rate of 22.5%. We rate the MCB Credit Card (Visa Platinum) as GOOD as the rates are lower than rates provided by other financial institutions in Pakistan.

Fees and Waiver:

One of the great things about this card is that it has no annual charges. The waiver is not conditional like many other providers. Based on this we rate the card EXCEPTIONAL.

Salient Discounts:

Over 80+ outlets (including Dining and Retail outlets) across Pakistan are offering discounts on MCB Visa Platinum Credit Card. Some of the notable discounts that the card boasts are at the Baby shop, Bareezé, Sab Salon. The discount program of MCB Credit Card (Visa Platinum) is rated AVERAGE as the number of partner merchants are higher than many other platinum card providers.

Travel Benefits:

The travel benefits offered by MCB Credit Card (Visa Platinum) are average not because of the offerings of course but due to the reason that other banking institutions have been providing the similar –if not same –offers. The Platinum Credit Card has given access to CIP lounges across Pakistan. In addition to this, the credit card also offers priority pass which grants access to more than 600 international airports. Priority Pass is a charged service, like every other bank.

Loyalty Program and Benefits:

MCB Credit Card (Visa Platinum) has a similar loyalty program and benefits to other banks’. The carrier may get 20% off cash back at selected eateries across Pakistan. Similarly, on international lodging, the card offers 5% cash back. The card holders are entitled to triple reward points in case of international spending. Our team has rated the card as AVERAGE due to similar offerings in the market by other banking institutions.

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Abou MCB Bank

MCB Bank Limited is one of the oldest and leading banks in Pakistan. It was incorporated on July 9 in 1947. MCB Bank was nationalized along with other private banks in 1974 as part of Government of Pakistan’s economic reform movement and was later privatized in 1991. The Bank has journeyed a remarkable tenure of more than half a century of competitively edged and well-positioned heights of success by deploying quality banking, heads on technological developments, professionally leading management and prudent and ethical work methodologies.


Disclaimer: The above review about MCB Credit Card (Visa Platinum) is non-sponsored. The views expressed in this article is of the Karlocompare.com.pk content team and does not represent the bank and/or its employees. Application requirements, features, fees, may be subject to change depending on the bank’s policy and regulatory requirements from time to time.

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Summary
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Reviewed Item
MCB Credit Card (Visa Platinum)
Author Rating
51star mcb credit card - 1star - MCB Credit Card (Visa Platinum) – Product Review1star mcb credit card - 1star - MCB Credit Card (Visa Platinum) – Product Review1star mcb credit card - 1star - MCB Credit Card (Visa Platinum) – Product Review1star mcb credit card - 1star - MCB Credit Card (Visa Platinum) – Product Review1star mcb credit card - 1star - MCB Credit Card (Visa Platinum) – Product Review

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