A way to ensure peace of mind with flexibility

SHABBIR H. KAZMI, Special Correspondent
Sep 11 - Sep 17, 2006

Bank Alfalah credit card is often considered an important partner because it is accepted globally at locations displaying the VISA logo. It is accepted at nearly 30 million merchants and one million ATMs in more than 150 countries around the globe and over 14,000 establishments in Pakistan. Alfalah card allows the cardholder to pay for shopping, travel, entertainment, meals and much more. Cardholders are facilitated through a number of promotions. In addition, there are a number of strategic business partnerships with leading local and international brands.

Alfalah credit card lets the cardholder pay for his/her hopping, travel, entertainment, meals and much more. The cardholder has access to cash at more than one million ATMs around the world and hundreds of 1Link ATMs in Pakistan. The cardholder can generate PIN through IVR (interactive voice response). The cardholders are advised in their best interest to ensure secrecy of PIN. In case it gets known to someone else the holder should report the matter to the Bank for avoiding its unauthorized use. With Alfalah card and PIN (Personal Identification Number) one can withdraw any amount up to 75% of your assigned credit limit. The cardholder also has the option of withdrawing cash by requesting an over-the-counter cash advance at financial institutions worldwide or at any Bank Alfalah branch or participating VISA member banks in Pakistan.


Rs 9 million

Rs 250,000

Rs 300 million

Rs 8.9 million

Alfalah card offers card the option of paying only 5% of the outstanding balance by the payment due date. Service charges are levied on the balance unpaid and carried forward. These charges are calculated on a daily basis from the transaction date for all cash and retail transactions. The following month cardholder has the option of either paying the full amount or paying only the minimum amount due and revolving credit again.

Transactions conducted outside Pakistan are converted from the transaction currency to US Dollars, based on international exchange rate prevailing on that date (Currency Conversion rate is a rate selected by VISA from the range of rates available in wholesale currency markets for the applicable processing date, which may vary from the rate VISA itself receives, or the government-mandated rate in effect for the applicable processing date in each instance, plus or minus any adjustment determined by the issuer). In order to assist card members, all transactions are converted to Pakistani Rupee for payment. This conversion is based on the market exchange rate quoted by authorized money changers and in accordance with the Bank's Procedures applicable from time to time.

All Bank Alfalah basic card holders can apply for supplementary cards in separate categories including son's card, daughter's card (children who are above 13 years of age) and house staff's card. This feature has been introduced for the first time in Pakistan, yet another pioneering feature by Bank Alfalah. In addition, supplementary cards can be issued to anyone the cardholder wishes, giving complete freedom of choice.

Each supplementary card category contains its own specific design of card. These card designs have been specifically designed keeping in view the trends and tastes of the modern day young generation who has the desire to look exclusive. Not only that one can get supplementary cards in unique designs for his/her son, daughter and house staff, but any other person can also enjoy this privilege.

Not only the card designs are unique, the basic card member can also assign a separate percentage or amount of the total credit limit of the credit card account to each of the supplementary cards. Whether it is the son who needs his monthly pocket money or the daughter needs to make school fees payments, or chef, chauffeur or maid, who buys all the groceries it is the basic cardholder who decides how much credit each of them gets.

The credit card helps in controlling household expenses. That is reason it is often considered the best suited card available in the market. By using this card, one can control son and/or daughter's spending habits. It also helps in controlling household expenses by giving a supplementary card to the house staff responsible for day to day shopping. It allows the cardholder to just forget about the need for keeping a record all the time of each expense made from your household budget, your monthly statement will show the detail of each transaction. Giving cards to the children with fixed spending limit keeps one free of the tension of giving them allowances and then monitoring their spending habit.

Bank Alfalah offers the cardholders innovative and powerful protection against the uncertainties of life. In the unfortunate event of prolonged illness, disability or death, it's reassuring to know that with credit cover one has no cause to worry about monthly credit card payments. This cover offers a range of features designed to protect the cardholder from the setbacks of life, at affordable rates.

As a credit cardholder (Basic cardholder up to the age of 65) can protect him/her self with credit cover that offers as low a rate of 0.50% of the outstanding amount in each monthly credit card statement as "credit cover premium" to insure the credit balance. In the unfortunate event of terminal illness, permanent disability or death, the entire outstanding balance amount on the card is waived off without causing any inconvenience to the near and dear ones.

Additionally, all supplementary credit card balances will also be waived. No worry-just peace of mind. In the unfortunate event of temporary disablement due to an injury or illness for a period exceeding 45 days, the bank pays the minimum outstanding on credit card. That is just the way of ensuring that cardholder enjoys complete peace of mind with flexibility.