UBL Visa Platinum Credit Card: An In-Depth Guide

Table of Contents

• Advantages and Disadvantages
• Principal Features
• Qualification Criteria
• Frequently Asked Questions (FAQs)

1. Advantages and Disadvantages

Advantages:

• A grace period of 51 days on credit, free of charge.
• A bounty of limitless rebates and accumulation of reward points.
• The facility to make minimum payments against the total due amount.

Disadvantages:

• A caution regarding penalties for tardy payments.
• Potential for accruing significant debt through unrestrained spending.

2. Principal Features

• Exclusive, complimentary entry to over 1,000 VIP airport lounges globally, including CIP lounges in Pakistan.
• Discounts on shopping, hotel stays, and golf club memberships worldwide.
• Access to cash advances and balance transfers at minimal interest rates.
• The convenience of settling outstanding balances in affordable monthly installments.
• The opportunity to redeem Airmiles for flight tickets.
• Global acceptance of the Platinum card.
• Provision for obtaining supplementary cards for family members.

3. Qualification Criteria

Salaried Employees:

• The bank has not specified a minimum salary requirement.
• Age range: 21 - 60 years.
• Required documents include a National ID card, recent salary slips, a bank statement, and a letter from the employer.

Entrepreneurs/Self-Employed Individuals:

• No declared income threshold.
• Age range: 21 - 65 years.
• Necessary documentation encompasses a National ID card, National Tax Number, proof of business, and a bank statement.

Other Crucial Details

• Maximum Credit Limit: Up to 5-6 times the monthly salary.
• Interest-Free Period: 51 days.
• Balance Transfer Rate: 28%.
• Annual Cash Advance Fee: PKR 1000 or 3%, whichever is higher.
• Cash Advance Interest Rate: 41.99%.
• Rewards Scheme: Airmiles Reward Points, with 3 international and 1 local point per PKR 50 spent.
• Late Payment Charge: PKR 1600.
• International Transaction Fee: 4.5%.

4. Frequently Asked Questions (FAQs)

Q1: What unique benefits does the UBL Visa Platinum Credit Card offer?

A1: The card stands out with its free access to over 1,000 VIP airport lounges worldwide, the potential for unlimited discounts and rewards, and flexible payment options for managing the balance.

Q2: Who is eligible for the UBL Visa Platinum Credit Card?

A2: Both salaried and self-employed individuals can apply, with age and documentation being the main criteria. Specific income requirements have not been disclosed by the bank.

Q3: How does the rewards program work?

A3: The Airmiles Reward Points program allows cardholders to accumulate points on both international and local expenditures, which can then be redeemed for air tickets, enhancing the card’s appeal to frequent flyers and those seeking discounts.