Card type, credit limits, and issuance criteria are set according to the Bank's Policy (40% of net salary divided by settlement percentage).
Credit Limits per Card Type:
Gold Minimum limit is KD 100
Platinum Minimum limit is KD 500
Signature Minimum limit is KD 750
Infinite Minimum limit is KD 1000
**Max limit for each credit card is subjected to bank terms & conditions
Fees & Commissions Available in 2 payment methods:
Credit Card: Payment is done in installments, payments are made monthly at a minimum of 8.3% plus interest.
Charge Card: full outstanding amount is settled monthly..
Credit Cards monthly interest rate is subject to: (Central Bank discount rate + 2.5% + 6%) ÷ 12
All Visa Cards are issued free the first year as long as the Card Holder doesn’t cancel:
- Gold (Free for 1st year + renewal KD 20/-)
- Platinum (Free for 1st year + renewal KD 60/-)
- Signature (Free for the 1st year + renewal KD 70/-)
- Infinite (Free for 1st year + Renewal KD 100/-)
- When the cards are used in currency transactions different from the currency of the card, 2.5% commission on foreign exchange variance will be added.
- Over limit charge is 1% (min 2 KD) once outstanding amount exceeds the credit limit. (% on over limit amount)
- Late charge is 1% (min 2 KD) if the due amount was not settled fully before end of month. (% of the unsettled installment amount)
- Worldwide acceptance at over 24 million outlets, Cash withdrawals in the local currency of the country from more than 1 million ATMs worldwide.
- ATMs Cash advances are subject to a flat Fee of 5% Minimum KD 2/-.