MCB is a dynamic bank offering wide ranging services to its customers. Among its all services, platinum credit card is the most exquisite one, as it offers highest rewards and amazing discounts to its card holders. MCB Platinum credit card offers a unique experience of personalized banking to its customers. MCB Platinum credit card is designed specifically for upper-class clientage. As, this product serves their needs.
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MCB Visa Platinum credit card is the most competitive and value-added card in terms of providing services to its customers. The reason why MCB platinum card is the high-end consumer card because of the customer profile who own this and also the benefits it offers to these card holders. This card is beneficial to such esteemed consumers who want to experience a hassle free life style. Let’s have a look on the advantages and drawbacks of the MCB platinum credit card.
Additional Reading: A Quick Review of MCB Bank Credit Cards
Advantages of MCB Platinum Credit Card
MCB platinum card offers wide ranging benefits to its customers, which are as follows:
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Access to CIP Lounge
You can avail the effortless comfort of the CIP lounges without any cost by using your MCB platinum credit card across 600 lounges in the world’s biggest airports.
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Priority Pass-a Master Key
Priority pass gives you an access of almost 600 airport CIP lounges in approximately 300 cities and in 100 countries. With the help of this pass you can enjoy a hassle-free day at airport in CIP lounges and enjoy free of cost refreshments.
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Earn Rewards
It is also offering multiple rewards and discounts on varying products, which includes triple reward points on international spending. You can also avail amazing discounts on multiple brands with whom MCB are partnered with.
i-Revolve
I-Revolve provides its user with lower rate interest rate on older purchases of almost 6 months old. The attraction for the customers is, the more you revolve-your rate will be lower.
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i-Secure
I-Secure gives its customer a satisfaction of safe and sound transaction. They can use their card without the tension of the data being copied or stolen or even hacked while doing any kind of transaction. As it protects the customer against scam and fraudulent transaction.
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i-Switch
Another benefit to pay-off your outstanding debts by transferring it to your MCB platinum card against a small fee and you can still use the other card.
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i-dial
This offers its customers an instant loan just a phone call away.
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i-Educate
This will help you in funding your kid’s education by giving you an opportunity to pay in installments.
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i-Plan
You can split your payment above PKR 3000/- into maximum installments of 36 months.
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i-Cash
You can withdraw approximately 75% of their credit limit or a specified amount transfer to yourself in hour of need.
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i-Bill
you can pay off multiple payments or a single payment with the help of wide range of utility suppliers
For more information: MCB Credit Card
Potential Drawbacks
MCB platinum card is designed especially for executives so that they can take advantage of its services and offers. These offers and services benefits come on shopping and travelling reward points and so on. However, these benefits are not free, there is an associated cost with them. For example, to avail the benefit of I-Educate you have to pay 18% service fee APR per annum. Similarly, against I-Plan you are paying 3% service fee converted into per annum 36% APR. As a card-holder you need to ensure that you always make a good use of the services and if you are not taking full advantage of the benefits, this card staying idle in your wallet and may cost you a lot of money.
Fees and Charges
The following chart will you the idea about the fees and Charges of the MCB Platinum credit card, which is as follow:
|
Fees and Charges |
Amount in PKR |
|
Joining Fee |
Free |
| Annual Fee |
Free |
| Maintenance of Chip Fee |
4000/- Per Annum. |
| Supplementary Annual Fee |
Free |
| Supplementary Chip Maintenance Dues |
Free |
| Charges on Late Payment |
1200/- |
| Cash Advance Fee |
3% or 750 of the cash advance transaction amount whichever is higher |
| Retrieval Fee for Voucher |
250/- for local document 800/- for foreign document |
| Arbitration Charges for Disputed Transaction |
USD 500 and equivalent to this amount |
| Replacement Fee for Card |
500/- |
| Cheque Return Dues |
Up to 750/- |
| Foreign Transactions |
Up to 3.5% or 200/- on foreign transactions |
*Note: These amounts are subject to change with the time and as per the policy of the bank. It is advisable to still confirm with the bank for the latest charges and fees.
Conclusion
In a nutshell, MCB Platinum credit card is providing varying value-added services to its high-end consumers that allows them to have a tailored experience where ever they go. At Mawzana.com we provide you an opportunity to compare different credit cards services, benefits and prices. So, that you avail the best of the best product for yourself.
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