The local card market of Pakistan over the year since its inception has missed one thing; a card that is can be of utility around the world. For Pakistani consumers, this was the first of its kind when it was introduced in August 2014. Individuals who find themselves frequently in different corners of the world do not have to resort to other means such as the possession of cash, to be able to shop or dine in any foreign country. Askari Bank Limited brings you the Askari World Master Credit Card for the convenience of such consumers under the ambit of MasterCard.
Highlight of Key Features
Askari World Master Card is a card of the premium category that is primarily introduced for high net worth customers such as the likes of Executives of Corporate world. Such users, when traveling globally, are dealt with special privileges. They also have access to approximately 500 VIP lounges of LoungeKey in over 300 International Airports irrespective of the class they are traveling in. Moreover, they are also offered special discounts in all seasons of the year along with special arrangements as well.
The Annual Percentage Rate (APR) is a tool that reflects the cost of interests for all loans in a given year. The Annual Percentage Rate (APR) for the Askari World Master Card is currently 38.4%.
The Askari World Master Card comes under the category of premium credit cards targeted for international usage. This card is engineered for such consumers seeking special benefits. It is primarily in place for elite features that users can access across the globe.
Key Benefits and Discounts
The Askari World Master Card offers various unique benefits to the card holders. It starts with invitations to exclusive events and access to airport lounges to priority reservations at top restaurants around the globe. Furthermore, Askari World Master card holders will get travel, accident and medical insurance as well as extended warranties on certain items along with purchase protection.
Before acquiring this card, consumers must thoroughly go through the details of this product. Be advised of the schedule of charges and the terms and condition for the card holders. For example, the annual fee on the card is only waived if a specific amount is used in the first two months.
Associated Costs and Fees
The basic cost or fee this card entails a 3% service charge per month on all retail transactions. The Annual fee of Basic card holders is free for the 1st year but charges will of PKR 9,280 (out of which PKR 8,000 is taken by the bank and PKR 1280 goes towards Govt. taxation) per annum is applicable from the 2nd year. For Supplementary card holders, the annual fee is free for the 1st year but charges will be PKR 4,640 per annum is applicable from the 2nd year. However, a waiver on the Annual fee is subject to the spending of PKR 50,000 on Basic card and PKR 20,000 on the Supplementary card during the first two months of its issuance or renewal. For more details, please check the Askari bank website and product pricing.
Key Applicant Requirements
A potential applicant must fulfill the criteria of submitting an application for the Askari World Master Card. The minimum and maximum age of the applicant is 21 and 70 years respectively. If an applicant is a Salaried individual or Armed official, then his minimum annual income must be PKR 0.5 million. If he is a Self Employed Professional (SEP) or a Self Employed Businessman (SEB), then his minimum income must be PKR 2 million. If an applicant fulfills the aforementioned requirements, then he/she must fill out an application form along with a copy of CNIC/NICOP/Valid Passport. A salary slip of salaried individuals/Armed official must be attached with the application. In a case of Self Employed Professional (SEP) or Self Employed Businessman (SEB), a 6-month personal bank statement is required. In such a case, a proof of Business document must be attached as well.
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