Standard Chartered Islamic Credit Card

TechMan (TechMan) 2019-10-25 22:20:00 +0500 #1

Anyone using Standard Chartered Islamic Credit Card? Do you pay Rs.3000 monthly fee or is it waived off?

Moderator (Moderator) 2019-10-26 10:10:59 +0500 #2

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TechMan (TechMan) 2019-10-26 11:54:18 +0500 #3

Pakistani banks are bloody looters and they will not offer any service in which they cannot earn "chaar paisa". If profit is only "do paisa" then wont offer that service.
That's why no other bank offer Islamic credit card and only Standard Chartered does this but charges Rs. 3000 monthly fee (in addition to yearly fee) which according to their SOC can be waived off upon bank's discretion.

dms664 2019-10-26 17:34:25 +0500 #4

what is difference between normal credit card and islamic credit card

faridahmed (Farid) 2019-10-26 18:03:17 +0500 #5

wow 3k monthly is just too much
why not opt for alfalah CC? it doesnt have any monthly or yearly fee

TechMan (TechMan) 2019-10-26 23:41:21 +0500 #6

No interest is charged in Shariah-compliant card.

TechMan (TechMan) 2019-10-26 23:41:37 +0500 #7

That is interest based card. I don't want it.

dms664 2019-10-26 23:50:34 +0500 #8

no interest is charged in normal card as well if you pay the bill before due date.

chinyoti (Murtaza Shahid) 2019-10-26 23:51:23 +0500 #9

Please recheck your standard chartered card. And please post a monthly charge we would like to see that too.

Alfalah credit cards are interest free and have a one time joining fee. Interest is charged if you fail to pay in time. ( a late fee charge in other words).

TechMan (TechMan) 2019-10-27 00:08:57 +0500 #10

I know no interest is charged if you pay on time BUT when you apply for credit card, you enter into an agreement that in case of late payment you will pay interest. Even entering into such contract is haram.

Here is SOC for Saadiq Visa Credit Card by Standard Chartered.

qwertypoiu (qwertypoiu) 2019-10-27 00:53:33 +0500 #11

What need a credit card ? Aren’t you happy with debit card? Itnay halal haram ka aur itni tension.. its crazy

pwuser155091178738 (Omar Asim) 2019-10-27 02:36:49 +0500 #12

@TechMan I'm using Standard Chartered Emirates Skywards Infinite Credit Card, actual fees for the card is 30,000/- but it has been waived for me due to being a priority client of SCB

TechMan (TechMan) 2019-10-27 07:17:05 +0500 #13

Debit Card doesnt work on all sites.

TechMan (TechMan) 2019-10-27 07:18:23 +0500 #14

This is great to hear. Is this monthly fees that is waived or yearly?
I have also emailed SC, let's see what they say.

k-four-nine 2019-10-27 10:16:59 +0500 #15

3 thousands a month sounds a bit too extreme!

I pay 750 rupees + taxes per annum for my Silver VISA Debit Card (Meezan Bank*) which equates to roughly 65 rupees a month.

I can withdraw upto 50,000 rupees per day from ATM machines, which is more than enough for me. Plus, I can always write a cheque if I want to withdraw more as there's no transaction limit on cheques, as per SBP.

https://www.meezanbank.pk/visa-debit-card/

TechMan (TechMan) 2019-10-27 10:31:47 +0500 #16

This is why I said banks are looting in the name of Islamic credit cards by either not offering at all because may be profit is low or by charging exorbitant amount like Standard Chartered.

dms664 2019-10-27 11:25:21 +0500 #17

use prepaid cards like ubl wiz or mcb lite

TechMan (TechMan) 2019-10-27 11:51:06 +0500 #18

They don't work on all sites especially where there is recurring billing or use first and pay later type setup.

pwuser155091178738 (Omar Asim) 2019-10-27 13:02:19 +0500 #19

This is the yearly fees which has been waived however other than no monthly fees or any service fee over the transactions is being charged to me.

I'll advice you to visit your branch and meet your relationship manager, I'm sure he can manage to waive the fees or any charges.

mgalaxy3 (MGalaxy Z) 2019-10-28 18:30:41 +0500 #20

can you tell what's the credit limit on infinite card?