We have taken it upon ourselves to provide product reviews on each and every credit card available for Pakistani’s. The team at Karlocompare.com.pk looks at various credit card offers available and assess them on four broad criteria’s (i.e. APR/BTF, Fees/Waivers, Travel benefits, & lastly loyalty/benefits). Today we are covering Askari Bank’s Platinum credit card before we get into the details about the card it is important to look at eligibility.
If you have been reading all our reviews, you would have come across the same point we are going to make in the upcoming sentence. fat los pills We know this is getting old but we feel obliged to let you know what’s going on.
Similar to its piers Askari Bank does not explicitly inform its potential customers about how much they need to be earning to qualify for an Askari Bank Platinum card. On their website, you will find generic criteria’s to apply for a credit card. Unfortunately, if you are looking only to apply for the platinum credit card there is no way to find out whether you will be eligible or not till you apply. So if you only want the Platinum Card, you will have to apply to find out or speak to a sales representative (which we all know is quite old fashioned). For those of you who are interested in knowing the minimum criteria to apply you need to have the monthly salary of Rs. 25,000 if you are a salaried individual. Or alternatively, if you are self-employed individual/professional then you need to be making a monthly income of Rs. 50,000.
Now that it is evident that a generic trend of not disclosing the actual criteria for each card type exists across most bank’s websites, let’s get into evaluating Askari Bank’s Platinum Master Credit Card.
APR & BTF Rate:
APR or the annual percentage rate of Askari Bank Platinum Credit Card is 3.20% per month or 38.4% per year. The card offers its users a balance transfer rate (BTF) of 24% per year which can be broken down to a monthly rate of 2%. Askari Bank Platinum Credit Card has been rated Good due to its low APR and BTF rates.
Fees and Waiver:
The annual maintenance fees of the card are Rs. 5,000 which has to be paid every year. Since its maintenance fee is somewhat similar to other financial institutions, therefore, we have rated the card Good, again.
Askari Bank offers the discount on more than 100 outlets across Pakistan. The outlets vary from food and retail to lifestyle. Such outlets include, but are not limited to, Johnny Rockets, Brands Highway, Fat Burger, Café Zero Degree. In light of the cards discounts in place Askari Bank’s Platinum Credit Card has been rated EXCEPTIONAL.
Askari Bank’s Platinum Credit Card travel benefits are rated WEAK due to comparatively lower offerings. Similar to other platinum credit cards, the Askari Bank Platinum Credit Card gives access to CIP lounges at Karachi and Islamabad airports. However, the card falls short of providing actual travel benefits like air miles, discounted tickets or hotel deals.
Loyalty Program and Benefits:
In comparison with other banks, Askari Bank’s Platinum Credit Card offers POOR loyalty program and benefits to its customers.
About Askari Bank
Askari Bank was incorporated in Pakistan on October 9, 1991, as a public limited company. It commenced operation on April 1, 1992, and is principally engaged in the business of banking, as defined in the Banking Companies Ordinance, 1962. Corporate Social Responsibility is an integral part of the way we do business.
Disclaimer: The above review 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.