Alfalah VISA Classic Credit Card Comprehensive Guide

 

Content Outline

1. Introduction to Alfalah VISA Classic Credit Card
2. List of Benefits and Drawbacks
3. Distinctive Features
4. Eligibility and Documentation
5. Financial Details
6. 
   
   
   
   

Advantages

• Zero-cost credit privilege extending up to 51 days
• Boundless rebates on various services and products
• Reward accumulation via Orbit Points
• Special installment schemes for acquiring lifestyle items and domestic appliances
• Facility for minimum monthly payments
• Option for cash advance against credit limit

Disadvantages

• Potential for late fee charges
• Risk of accruing significant debt through overuse
• Elevated interest rates despite attractive associated perks

Specifications

• Extensive global acceptance across over 30 million ATMs
• Exclusive savings on retail, gastronomy, and voyages
• Varied installment options available from 3 to 36 months for balance settlement
• Assurance of zero liability on prompt notification of unauthorized transactions
• Opportunity to request additional cards
• Credit allotment ranging from PKR 25,000 to PKR 125,000 for employed individuals
• Minimal procedural requirements for documentation

Eligibility Requirements For Employed Applicants:

• Salary base: Minimum PKR 25,000
• Age criteria: 21 to 60 years
• Mandatory documents: National ID, employment verification, financial statements, and employer's letter

For Entrepreneurs:

• Income benchmark: At least PKR 50,000 monthly
• Age range: 21 to 70 years
• Essential documentation: National ID, National Tax Number, business authenticity proof, and banking records

Financial Terms

• Interest/Annual Percentage Rate: 45%
• Membership Fee: PKR 2,000 annually

Frequently Asked Questions

Q1: Can the Alfalah VISA Classic Credit Card be utilized for international transactions?

A1: Yes, the card is universally recognized, allowing for seamless transactions at over 30 million ATM locations globally, ensuring that cardholders enjoy extensive financial flexibility while abroad.

Q2: How can cardholders earn and use Orbit Points?

A2: Orbit Points are gathered with each transaction made using the Alfalah VISA Classic Credit Card. These points can subsequently be redeemed for a variety of rewards, offering cardholders a chance to enjoy additional benefits and savings on services and purchases.

Q3: What does the zero loss liability feature entail?

A3: The zero loss liability feature protects cardholders against unauthorized transactions. Should any fraudulent activity be promptly reported to the bank, the cardholder is absolved from any financial responsibility for those transactions, thereby safeguarding their assets.