Overview of the Standard Chartered Visa Platinum Offering

Content Outline

• Introduction to the Visa Platinum Card by Standard Chartered
• Highlighting the Benefits and Potential Drawbacks
• Distinctive Features of the Card
• Eligibility Criteria for Applicants
• Detailed Financial Implications and Rewards

Advantages:

• Avail a zero-interest period up to 51 days on purchases.
• Access to CIP and global lounge facilities enhances travel experiences.
• Enables a cash advance up to 30% of the credit limit for emergencies.

Drawbacks:

• A higher annual fee is applicable.
• Prone to significant debt accumulation if used irresponsibly.
• Late payment fees can escalate costs.

Key Attributes:

• Exclusive access to more than 20 international and CIP lounges across Pakistan, offering serene travel pauses.
• The Platinum Travel Desk service simplifies your accommodation and flight arrangements.
• Eligibility for supplementary cards allows extending benefits to family members.
• Ensures worldwide use with its global acceptance.
• Facilitates balance transfers from other credit cards at competitive rates.

Qualification Requirements:

Employed Individuals:

• The bank has not disclosed specific salary requirements.
• Age Range: 21 - 60 years.
• Required Documents: CNIC, proof of income via salary slips, bank statement, and employer's letter.

Entrepreneurs and Self-Employed Individuals:

• No clear income criteria provided.
• Age Range: 21 - 65 years.
• Required Documents: CNIC, NTN, business verification, and bank statement.

Further Details:

• Credit Limit Maximum: Not specified.
• Interest-Free Period: Up to 51 days.
• Balance Transfer Annual Percentage Rate (APR): 42%.
• Annual Fee for Cash Advances: Higher of Rs. 1,000 or 3% of the amount.
• Cash Advance APR: 42%.
• Rewards Program: Earn reward points on expenditures.
• Earning Reward Points: Receive 5 points for every 200 PKR spent.
• Late Payment Charge: Rs. 1,200.
• Fee on Foreign Transactions: 3.5%.
• Intended Audience: Designed for both salaried and entrepreneurial individuals.
• Minimum Income Requirement: Not specified by the bank.
• Ideal for: Wealthy individuals seeking premium benefits.
• Minimum Age Requirement: 21 years.
• Supplementary Cards Availability: Details not provided.
• Payment Network: VISA.
• Lounge Access: Includes CIP lounge facilities.
• Exclusive Offers: Enjoy discounts up to 50% at selected dining, wellness, and retail venues.

Frequently Asked Questions

1. In what way does the Visa Platinum Card from Standard Chartered enhance travel experiences?

The card distinguishes itself by providing free access to a selection of more than 20 CIP and international lounges in Pakistan, coupled with a dedicated travel desk for hassle-free booking of flights and hotels, elevating the overall travel convenience and luxury.

2. What are the financial considerations associated with this card?

Cardholders should be mindful of the higher annual fee, the risk of incurring substantial debt from excessive use, and the impact of late fees on overall costs. Responsible usage is key to maximizing the benefits while minimizing potential financial downsides.

3. What are the prerequisites for applying for the Visa Platinum Card, and which documents are required?

The card is accessible to both salaried and self-employed applicants without strict income prerequisites. Essential documentation includes CNIC, salary slips or business proof, and bank statements, accommodating a wide range of potential cardholders seeking to augment their financial resources.