The Faysal Bank credit card has always been an industry leader in terms of features and benefits, and the new credit card from Faysal Bank continues this tradition.
Faysal Bank Credit Card Benefits, Eligibility, Discounts
The card comes with plenty of perks, some of which are brand new additions that have never been seen before on any other credit card in Pakistan. Find out what’s new with the Faysal Bank credit card by reading through this guide.
Faysal Bank (Introduction)
What You Can Get From a Faysal Bank Credit Card The whole point of having a credit card is to make purchases and then pay them off each month, thus avoiding interest charges and racking up rewards points or cash back. So if you don’t plan to make any purchases with your credit card, why bother applying for one?
Because there are many other benefits that come along with owning a card—especially if it’s issued by Faysal Bank. The bank has long been known for offering excellent rates and great customer service.
What Are The Annual Fees
The typical annual fee for credit cards range from $0-$200. Annual fees can be paid monthly, quarterly, or even yearly depending on a card’s terms and conditions. Also, there is usually a grace period of 1-6 months where you won’t have to pay an annual fee until your next billing cycle begins.
The length of these grace periods vary greatly by issuing bank as well as card type (credit cards vs prepaid). On top of that, if you’re not using your credit card regularly, it is in your best interest to avoid having an account with any annual fees attached to it. This is because once you’ve let your account go dormant after paying annual fees, no more bill payments will be charged to keep your balance at zero.
This means that if at some point you decide to use the card again, whether it’s many years later or only a few years later; all previous purchases will come back onto your new statement which could bump up against limits. If those purchases were big enough they could put you over limits resulting in costly late payments and possible damage to future credit scores.
How Much Are The Interest Rates
One of Faysal Bank’s biggest benefits is its interest rates, which are among Pakistan’s lowest. The bank offers three main credit cards: gold (17.99 percent), platinum (14.99 percent) and classic (11.99 percent). If you transfer a balance from another card to your Faysal Bank credit card before making a purchase.
You’ll have an introductory period of six months where you pay only interest. In addition, if you put down a deposit equal to 30 times your monthly payment amount within 60 days of opening your account, your introductory rate period will be increased to 12 months.
This means that if you make $100 per month in payments, you can get up to one year free of interest charges. But remember that in order for your zero-interest deal to last longer than six months, you must have completed at least one full cycle with Faysal Bank after opening your account—in other words, charged one purchase and paid it off—before transferring a balance or setting up automatic payments.
Is There A Balance Transfer Fee
Another great benefit of a credit card is that it helps you balance transfer high-interest debt. Your credit card offers low interest rates, but there’s one catch: You need to pay off your credit cards in full every month. Interest accrued over time is what usually results in higher interest rates.
If you can’t make your payments every month, using a credit card with an introductory 0% APR period to pay off debts with a high interest rate might help. But that doesn’t mean you should be taking advantage of a balance transfer fee. Balance transfer fees are often 3%-5% of your balance, and they can even add up to hundreds of dollars depending on how much debt you have.
Do They Charge Late Payment Fee
No! You will not be charged a late payment fee for your credit card. It is easy to avoid missing payments by setting up automatic payments through your bank, but if you fail to do so, you can always pay online or at any branch of EBL. If you don’t have time to make it in person, they also allow payment by phone.
Just call +966-11-4467510 and follow their instructions; your transaction will take less than 30 seconds! Remember that although you won’t be charged a late fee, your minimum payment might still accrue interest charges. So pay early and save money.
Does The Credit Card Have Any Other Fees
All banks tend to charge a lot of fees. This is particularly true when it comes to fees for other services such as using ATMs that are not owned by them. However, it’s possible to get credit cards without paying any annual fee or many other types of fees.
The exact no fee credit card will vary from bank to bank so you’ll have to do some research into what your options are before signing up for one. You can start with our list of credit cards without annual fees here or search for specific banks via Google.
Faysal Bank Credit Card Benefits
Faysal Bank has always stood out among Pakistani banks with respect to its wide variety of credit cards. The bank offers special benefits and discounts for its Platinum, Gold, and Classic credit card users. If you are an existing credit card holder and want to know what’s new in your respective package, then continue reading. Read our comprehensive guide below to find out all details about new benefits from recent times.
From bonus points promotion to cash back deals, everything is included here. Also check out other recent updates via fb link shared at end of post section. Make sure that no offer or deal remains unrevealed!
In addition, don’t forget to ask any queries via comments box which appears at end of page . (It would be published along with answers from some experts) (Discussing more issues on different pages) For example: 1- What should I do if there is no change in my limit since last 4 years?
Faysal Bank Credit Card Eligibility
For those living in Saudi Arabia, you can apply for a credit card from Faysal Bank. This bank operates just like any other bank, but serves Saudi citizens and expats who live in Saudi Arabia. Even if you don’t live in Saudi Arabia, you can still apply for a credit card with them; however, you must do so through their regional offices located outside of Saudi Arabia.
All things considered, there are plenty of great benefits to being a member of Faysal Bank—especially when it comes to traveling abroad. If you want more information about how to open an account with them or how they operate as a financial institution, feel free to check out their website. At the very least, you’ll find some informative articles that will make managing your money much easier.
A great place to start is by reading up on ways to save money using your Faysal Bank credit card. You’ll soon see that saving money is quite easy—all you have to do is use your card responsibly. Simply take advantage of rewards points or cash back bonuses whenever possible and watch your savings pile up!
To get started, look at what customers are saying about their experiences with customer service (one customer gave them five stars after finding out she was approved for a line of credit within minutes). And while we’re here: don’t forget to visit fb credit card status online-com!
Faysal Bank Credit Card Discounts
Discounts are a great way to make big purchases more affordable. And, if you take advantage of them all, you can save a substantial amount of money over time.
That’s why it’s important to have a good understanding of what cards come with what benefits, as well as how to take advantage of your discounts each and every month. Let’s take a look at some recent changes made by Faysal Bank credit card holders!
Faysal Bank Credit Card Offers
Hassle free visa credit card application, Upgrade your credit limit within 24 hours, Improve your credit score through over limit transactions, No annual fee for first year. Get a new visa platinum card from Faysal bank only with 20 thousand taka prepaid payment.
How to earn extra points using online and offline transactions, How to pay for retail purchases & utility bills such as DTH recharges using your Faysal bank card at discounted rates. What are the eligible retail outlets for cash back offers , Check out our latest customer survey results.
Faysal Bank Noor Credit Card
Here are some new benefits that come with your Faysal Bank Noor credit card. One of them is Noor-e-ishq — an exciting new customer loyalty program which offers you a host of privileges and perks. To enjoy these benefits, you’ll have to enroll in noor-e-ishq from your credit card account page. It’s easy and free, so do it now!
Also Read: Bank Al Falah Credit Card Benefits, Eligibility, Discounts
As you can see, there are benefits to both. What’s best for you depends on your lifestyle and your spending habits. If you need help deciding which card is right for you, contact one of our credit counselors or check out our FAQ page. And good luck!