A Review of Bank Alfalah Platinum Credit Card

Bank Alfalah is the 5th largest private bank in Pakistan with dynamic products portfolio. It continues to serve its clientele with dedication and integrity. Bank Alfalah provides optimal solutions to the consumer problems especially to the high end customers through its Bank Alfalah Platinum Credit Card. They are offering broad spectrum of products and services for their customers. These services include: consumer banking and credit cards, Islamic financing, corporate and investment banking, SME and agricultural financing.

Bank Alfalah is offering multiple credit cards for its wide consumer base. Bank Alfalah Platinum Credit Card is the most exquisite card in terms of benefits and rewards. It gives its user an experience of personalized banking. With Alfalah Platinum credit card you can enjoy the privileged banking services coupled with the unmatched services and discounts. Alfalah Platinum credit card is designed for the affluent market segment who loves to travel frequently and want to enjoy platinum benefits.

Let’s review the Bank Alfalah Platinum Credit Card in detail.

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Advantages of Bank Alfalah Platinum Credit Card  

Advantages of the Bank Alfalah Platinum credit card are as follows:

Rewards

Alfalah bank is offering orbit rewards system for its platinum card holders. The customer can earn orbits on multiple purchases such as  online transaction, e-statements, shopping, personal loans, and on their accounts even. They can redeem these orbits on wide range of products. Starting from appliances, gadgets, billing and vouchers. Alfalah bank is offering 4 tier reward system which is as follows: orbit, orbit 3, orbit 6 and orbit 9. Each orbit carries the face value of 1 Rupee. All the orbits earned must be redeemed within 180 days after that it will collapse and doesn’t hold any value.

Discounts  

Bank Alfalah platinum credit card is offering amazing discounts on various products. Holding Alfalah Platinum credit card means you will be having significant discounts on dine-in, various luxury brands, on travelling and fashion accessories. The platinum credit card is catering your needs from all perspective and provides you exclusive items.

Free Access to CIP Lounge

You can enjoy free CIP lounge access from Karachi, Lahore and Islamabad airports. If your flights are delayed due to any reason you can wait in the luxurious lounges with free buffet of snacks and beverages. Adding to this, free connectivity and entertainment option available. To be precise, Alfalah Platinum credit card will provide you a hassle-free traveling experience.

Global Acceptability   

Alfalah platinum credit card holds the visa logo which ensures its worldwide acceptability at approximately 30 million establishments and 1.5 million ATMs.

Priority Pass

With priority pass you can access almost 600 VIP airport lounges in 275 cities. Coupled with this, you can access all ease of doing business facilities in a relaxed and luxurious environment. Alfalah Platinum credit card offers priority pass membership to the card holder’s family as well at minimum fee.     

SBS Installment Plan    

Through Alfalah Platinum credit card you can access to SBS installment plan, which allows you to purchase anything you want and make the payment on installment basis. The repayment span ranges from 3 to 36 months. You can convert any of your retail transaction above PKR 3000/- into installment plan.

Zero Loss Liability  

Bank Alfalah Platinum Credit Card also protects you against theft and robbery. If you lost your card or is being stolen you can report to the concerned authorities as soon as possible. Besides this, the bank makes sure that no fraudulent transaction can place from your card.

Drawbacks of Bank Alfalah Platinum Credit Card  

Bank Alfalah Platinum Credit Card is holding wide ranging benefits, however, there is an associated cost attached with all of them. If you have the Platinum credit card and you are not taking advantage of its benefits, these costs which you are paying against them all will be wasted.

Additional Reading: A Review of HBL Platinum Credit Card

 

Fees and Charges  

The following chart will give you an idea about the fees and charges of the Bank Alfalah Platinum Credit Card:

Fees and Charges	PKR
Annual Fee (basic)	4000
Supplementary Fee	2000
BTF processing Charges	500 or 2.5% of the transaction whichever is higher
Annual Percentage Rate	39%
Voucher Retrieval fee	Local 350 and International 800
Arbitration Charges for Disputed Transactions	USD 500
Card Replacement Fee	200
Cash Advance Issuance Fee	25/ transaction
Banker’s Cheque Book Issuance Fee	300
Foreign Transaction Charges	Up to %5 over existing market rate as per SBP instructions
Card Replacement Fee	200/-
Returned Cheque Charges	800/-
SMS Alert Fee	50/-

 

There are few service charges as well, which are as follows:

Service Charges
Transaction Service Charges	3% of the transaction amount
Balance Transfer Facility Service Charges	24%
Cash Advance Service Charges	3.33% per month
Rejected Cheque Charges	PKR 800/-

 *Note: These rates are subject to change at any time as per the bank’s policy, it is advised that before going for the card, do cross check the rates with the bank as well.  

Conclusion

Bottom line is Alfalah Platinum credit card is providing you personalized banking experience, but there is an associated cost attached to all those benefits offered by Alfalah Platinum Credit card. Visit Mawazna.com to compare all platinum credit cards and choose the best for yourself.

“Mawazna Karein Apne Liye, Apno key Liye”