The credit card is, at the end of the day an instrument for borrowing against your account and card and you'll have to pay back your debt, which is the amount you spent. In the event of not meeting deadlines, it could result in a default, which will affect your creditworthiness as well as CBI value. In addition, you will incur accruing interest on your expenses.
Although everything isn't perfect. However, credit cards remain an ideal opportunity to facilitate your transactions. Which credit card do you need? Let's take a closer examine the various products offered by the cards to find out what benefits customers are receiving.
Top 5 Bank Credit Cards in Bangladesh:
1. The City Bank Amex Card:
City Bank is one of the few banks to offer Amex cards to its customers. It is Visa and Mastercard could be the most used transaction channels however the Amex card has its niche within Bangladesh for local as well as international transactions. The regular APR is 27%, while the grace period is up to 45 to 60 days. The renewal fees are slightly higher, ranging between 1500 BDT and 25000 BDT based on the card's features. There is an outstanding 5% fee and no installment options available on this card.
2. Standard Chartered Bank Credit Card:
Being one of the oldest and most international banks in the country. The Standard Chartered Bank is very popular. It offers a selection of credit cards that are based on credit creditworthiness of a client. The limits of this card vary as well as other amenities. However, the typical APR is 26% for all cards.
A grace period of up to 45 days is available and the fee for renewals and maintenance is between 1500 BDT and 10000 BDT. Standard Chartered provides an installment facility that is a benefit. It also offers a credit card that is subject to charge.
3. BRAC Bank Credit Card:
BRAC Bank is another pioneering bank in Bangladesh. The primary motive for BRAC Bank is to boost the accessibility of the banking industry by making banking accessible to those living in rural areas as well as the economically disadvantaged segments of our society.
Through the years the bank has widened its service offerings and introduced various cards. The cost of renewal for the cards ranges from 1500 BDT up to 25000 BDT. You can, however, avoid this cost by performing at least 18 transactions per year. The APR is 27%, and there is a grace time of 45 days. Additionally, you can avail of installment options as well as a supplementary card. This one is completely free for use.
4. Eastern Bank Credit Card:
One of the most lucrative features of EBL cards is the possibility to with EBL SkyLounge on trips across the globe. This alone can entice an individual to EBL. It offers a typical APR rate of 27 percent, a grace period of 45 days, as well as installment options. Additionally, you can avail of their supplementary credit card, subject to more fees.
5. DBBL Credit Card:
The first Bangladesh joint venture bank DBBL is the mainstay in the development of ATM service in Bangladesh. The bank has made banking accessible through agent points as well as ATMs that are accessible even in remote locations. They also offer attractive benefits, which makes them among the most reputable credit issuers on the list.
The APR is extremely low at just 15%, and as an added benefit you will also get a 50-day grace period. If you have a card that you choose, you can also receive exemptions from the renewal fees. There aren't installment options, but you can receive a second card for no cost.
Conclusion:
In the past, we've reviewed the most popular credit cards available in Bangladesh. It is apparent that every bank offers services they excel at. Standard Chartered will focus on providing you with a consistent experience, DBBL offers low APR, and With EBL as well as City Amex you are getting many benefits from transactions such as access to lounges.
But, the process of issuance of cards isn't the sole element that determines the effectiveness of the cards. In reality, it is all about your personal preferences and expectations from your bank. Of course, many other financial institutions are working together to add superior services.
If the cardholders aren't with the cards, banks aren't likely to acquire any money. To get the most value from your credit card options as a customer, you should determine the objective of your credit card. The landscape of credit cards in the United States is growing at the speed of light and if you're willing to and have the funds to support it, you must consider the services.
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