Credit card has been introduced by western market to facilitate individuals to meet their financial needs. Due to its small size, it is an excellent tool to diversify bank's credit portfolio and the chances of willful default are minimal.

As the result of high risk associated with single borrower, the premium charged by the banks is on the higher side.

Rough estimate depicts that it is nearing 19-25% more than average lending rate prevailing between banks. Despite heavy cost bourn by the customer, it is of marvelous success. There are ten banks providing credit card facilities to the nation and quite a few ready to launch their distinguished products.

Due to record breaking spreads, the banks are loosing its focus on the traditional lending market of the economy.

State Bank of Pakistan is formulating policies to set floor of lending to each industry by member banks. Significant budgets pertaining to credit card market have given boost to once sunken advertisement industry of Pakistan.

 Frequently Asked Questions (FAQ)
Credit cards are one of the main credit products available to meet the emergency needs of the consumers. It is also carried to avoid carrying cash and to be used in emergency.

Eligibility Criteria
The understate are by and large conditions applied by different banks to evaluate the prospective customer

• Resident of Pakistan

• Minimum verifiable income of PKR 15,000/- usually verified by bank statement

• Six Months bank statement

• 21 years of age with CNIC (Computerized National Identity Card

• Two references

• One landline number

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