Best Credit Cards Available in Pakistan: With the myriad number of credit cards currently on offer, choosing one that caters to your preferences can be a daunting prospect. Though it may not be the most important financial decision that you will ever make, a credit card can be very useful. It may seem like a mere marketing gimmick, but many credit cards offer extra perks and discounts that can benefit you if you plan your purchases “strategically”. However, contrary to what many retail banks would have you believe, there is no “one size fits all” credit card that is perfect for everyone.
Best Credit Cards Available in Pakistan
Whether or not a specific card is right for you can depend on several individualized criteria and not just its Annualized Percentage Rate (APR). But there are a few general standards which can be used to judge whether one credit card is better than another.Following up on that notion, here is a list of the best credit cards available in Pakistan.
With an APR of only 25 percent, no annual fees and a generous Reward Points system, the Bank Al-Habib Gold Credit Card is a versatile option if you are strapped for cash. It is globally acceptable and the points can be redeemed in foreign countries (once you have accumulated at least 2500 points), which makes it ideal for frequent travellers. Additionally, the credit card provides full insurance coverage in case of loss or theft and a free credit window of 51 days. But there is a (minor) catch.
When you register for the card, you need to verify that your monthly earnings exceed a certain amount. This amount is determined by whether you are salaried or self-employed, with a higher minimum earnings requirement in the latter case. Fortunately, the minimum earnings requirement is not unreasonable, even if you are self-employed. Overall, the Bank AL Habib Gold Credit Card is definitely one of the best budget cards in the market.
2- The Bank Al-Habib Silver Credit Card
Another offering from Bank Al-Habib makes this list. And for good reason. Though not as versatile as the Gold Credit Card, the Silver Credit Card offers a range of attractive discounts with no annual fees and the same APR. The discounts be as high as 25 percent and can be availed at various salons, restaurants and health centres and on purchases of Gulf Air Tickets. Just like Gold Credit Cardholders, Silver Credit Cardholders can benefit from the MasterCard payment network and receive redeemable Reward Points on each purchase.
Similarly, they are guaranteed full coverage in case of loss or theft and a 51 day free-credit window. Unlike the gold card, however, the Silver Credit Card does not offer CIP lounge privileges or the facility to spend your Reward Points abroad so it is not as useful for travellers. To sum it up, the silver card is a great option for people who like the Gold Credit Card but would eschew the latter’s travel-related benefits for other perks.
3- The Allied Visa Gold Credit Card
In spite of the fact that it has a slightly higher APR (20 percent) and an annual fee of 2,000 rupees, registering for the Allied Visa Gold Credit Card is less of a hassle. Unlike Bank Al-Habib’s offerings, there is no minimum salary requirement which makes it much more accessible to the masses. Besides that, it provides other great facilities such as the ability to withdraw up to 50 percent of the Cash Advance limit and a competitive Bank Transfer Facility (BTF) rate of 1.67 % per month. Moreover, the credit card is globally acceptable and you can pay for the credit you have used through instalments. In conclusion, the Allied Visa Gold Credit Card is a decent option if you constantly find yourself short of cash but it isn’t something a shopaholic would find very useful.
4- The UBL Silah Milla Visa Credit Card
Though its 33 percent APR is a little on the high side, UBL’s Silah Milla Visa Cedit Card offers a generous rate break of up to 6 percent. A massive credit limit of 2 million rupees and a competitive BTF rate of 1.75 % are two of the reasons why it is on this list. However, there are extra costs involved if you wish to avail the services of this credit card. The chip maintenance fee alone is 1,000 rupees. In a nutshell, the Silah Milla Visa Credit Card may not be right for you if you are on a budget but it is a must-have if you are an extravagant spender.
5- The Faysal Bank Titanium Credit Card
With an annual fee of 6,000 rupees and an exorbitant APR of 38 percent, the Faysal Bank Titanium Credit Card can seem like an unnecessary Luxury. However, this premium is justified by the unmatched perks and benefits it provides. Being a Titanium Credit Cardholder entitles you to free access to dozens of VIP and CIP lounges in airports all around the word and discounts that can slash the cost of travel related purchases by up to half. And that’s not all. For each Titanium Credit Card, you can get up to 5 supplementary cards for family members.
Furthermore, with each purchase you can receive a generous number of Reward Points which can be redeemed at more than 800 retail outlets. Also, there is an option to repay your credit in instalments at no extra cost. Putting that aside, this is not a card for the frugal buyer as the extra perks and discounts are only worth it if you like to splurge on things like first class tickets and luxury brands.
6- The Faysal Bank MC Credit Card
A slightly cheaper version of the Titanium Credit Card. Though it does not give you as much value for your money, it is slightly more affordable with a 1,000 rupee lower annual fee. It also offers similar benefits such as supplementary cards for family members and discounts at select restaurants. Additionally, MC Credit Cardholders receive Reward Points which they can redeem at various outlets, and they are offered the facility to pay the annual fee in instalments. Overall, this is a decent choice if you want a Titanium Credit Card but are willing to compromise on a few extra perks to save money.
7- The Faysal Bank Platinum Credit Card
The Faysal Bank Platinum Credit Card is essentially the premium version of the Titanium Credit Card. Though it has a high annual fee of 8,000 rupees and a usurious 38 % APR, it offers a few unique benefits that could be very useful if you are a heavy spender. For Platinum Credit Cardholders who use it to spend more than 3 million rupees over the course of a year, the annual fee will be waived. As an added bonus, they are given access to luxury Airport Lounges in more than 300 cities around the world and a complimentary 3 year member ship to the priority pass program.
All of this comes packaged with a host of discounts and special deals at various restaurants across the country and free valet parking at certain locations. Additionally, they are provided full insurance coverage in case of fraud and receive all the benefits of the MasterCard Payment network. The Faysal Bank Platinum credit card can seem like an overpriced option to the average shopper, but it offers countless benefits if you have deep pockets and are willing to shell out the cash.
8- The HBL Platinum Credit Card
Although the HBL Gold Credit Card is the most expensive option on this list with an annual fee of 10,000 rupees and an APR of 39 percent, the number of extra perks it offers will not leave you disappointed. It is the quintessential “Luxury Traveller’s” credit card as it gives you generous discounts at various five star hotels and access to VIP airport lounges worldwide, free of cost. As an added bonus, you can also bring two guests to special airport lounges in Pakistan for free.
Besides this, you can avail discounts of up to 10 percent on grocery and cosmetics, and you can receive 15 percent extra credit on purchase amounts between 5,000 and 10,000 rupees. You can also receive a higher number of Reward Points with each purchase which can be redeemed at various outlets. The number of points you receive increases drastically if you use foreign currency for your purchases. You also benefit from the VISA payment network.
9- The HBL Gold Credit Card
The HBL Gold Credit Card is significantly cheaper than the Platinum Credit Card, and, arguably, it gives you a lot more bang for your buck. Though it has an APR of 39 percent, its annual fee is almost half of the latter. But this doesn’t mean that it doesn’t give you all the frills the Platinum Credit Card does. With a plethora of discounts and deals at restaurants, hotels, golf courses, health centres and clothing, grocery and cosmetics stores on offer, the Gold Credit Card is a great bargain. In addition to free access to CIP lounges worldwide, the Gold Credit Card offers up to six supplementary cards for family members and a 51-day free credit window. Additionally, you get to take part in their generous Reward Points system, which, like the Platinum Credit Card, credits to you with one point for every 25 rupees spent with it.
10- The HBL Green Credit Card
This is probably the most economical credit card currently offered by HBL. Though it has a high APR, this is offset by its low annual fee of 3,000 rupees and the various benefits that almost every shopper could find useful. Being a cardholder, you can benefit from the Visa Payment network and a host of discounts on groceries, cosmetics and dental appointments. Additionally, you can receive a credit bonus of up to 25 percent on purchases exceeding 1,000 rupees. Just like Gold Credit Cardholders, you can also participate in their lucrative Reward Points system spent and are given access to CIP lounges in various airports across the world
Best Credit Cards Available in Pakistan – The Top 10 List
- The Bank Al-Habib Gold Credit Card
- The Bank Al-Habib Silver Credit Card
- The Allied Visa Gold Credit Card
- The UBL Silah Milla Visa Credit Card
- The Faysal Bank Titanium Credit Card
- The Faysal Bank MC Credit Card
- The Faysal Bank Platinum Credit Card
- The HBL Platinum Credit Card
- The HBL Gold Credit Card
- The HBL Green Credit Card