MCB Classic Credit Card: Enhancing Your Financial Freedom

Table of Contents

• Pros and Cons
• Exclusive Benefits
• Eligibility Criteria
• Detailed Overview
• Frequently Asked Questions (FAQs)

Pros and Cons

Pros:

• Benefit from a no-cost credit period of up to 51 days.
• Enjoy limitless discounts and accrue rewards points on purchases.
• Withdraw cash up to 75% of your credit limit.
• Complimentary access to CIP lounges for a luxurious travel experience.
• Redeem accumulated rewards points through the i-shop catalogue for a variety of products.
• Cons:
• Late payment fees underscore the importance of timely bill management.
• Vigilance is advised to mitigate the risk of credit card fraud.

Exclusive Benefits

• Utilize the credit facility for 51 days without any additional charges.
• Leverage online shopping deals and receive exceptional discounts.
• Consolidate debt from other credit cards into manageable monthly installments at a competitive interest rate, ranging from 3 to 36 months.
• Comprehensive insurance coverage safeguards against travel inconveniences, life emergencies, document loss, and fraudulent transactions.
• Option to repay outstanding balances in easy monthly installments, enhancing financial flexibility.

Eligibility Criteria

For Salaried Employees:

• The bank does not specify a minimum salary requirement.
• Age Range: 21 - 60 years.
• Necessary Documentation: National ID card, recent salary slips, bank statements, and an employer's letter of confirmation.

For Self-Employed Individuals and Business Owners:

• No explicit income criteria provided by the bank.
• Age Range: 21 - 65 years.
• Necessary Documentation: National ID card, Tax Identification Number, proof of business ownership, and bank statements.

Detailed Overview

• Credit Limit: Not specified
• Markup-Free Period: 51 Days
• Balance Transfer Interest Rate: 22%
• Annual Cash Advance Fee: PKR 750 or 3%, whichever is higher
• Cash Advance Interest Rate: 40%
• Rewards Program: MCB i-Reward, offering 1 point for every PKR 50 spent
• Late Payment Fee: PKR 1,500
• International Transaction Fee: 3%
• Intended Audience: Employed and self-employed professionals
• Minimum Age: 21 years
• Supplementary Cards: Information not provided
• Payment Network: VISA
• Lounge Access: VIP lounges

Frequently Asked Questions (FAQs)

Q1: How can I utilize the 51-day interest-free period offered by the MCB Classic Credit Card?

A1: The 51-day interest-free period is automatically available to all cardholders, allowing them to make purchases and defer payment without incurring interest for up to 51 days.

Q2: What steps should I take to safeguard against credit card fraud?

A2: To protect against fraud, always monitor your account activity, never share your card details, and report any suspicious transactions to the bank immediately.

Q3: Can I use my rewards points for anything other than products from the i-shop catalogue?

A3: The primary use of rewards points is for redeeming products from the i-shop catalogue. For additional redemption options, please consult MCB's customer service for the latest offers and partnerships.