Credit Cards in Sri Lanka
Top Credit Card News!
Today, credit cards come with all kinds of horns and whistles to allure as many solvent customers as possible. The fact is we are so busy in our everyday life that we simply have no clue that some of our plastics offer generous perks. To apply for a super-great credit card is not enough to maximize your credit card benefits - you should know how to make the most of those credit perks on your plastics. Some of these credit deals have limitations and restrictions, the others should be used at certain merchants only. The big question is - how to maximize credit benefits on your card?
Click here to read more...Let us be honest, for most of us choosing a new credit card is a time-consuming process. A man of indecision is the scene one can hardly find charming. First and foremost, you should determine the type of the card you would like to obtain, then you should choose the best rate. When it comes to interest rates, the amount of the rate is not the only concern of credit cardholders. The difference between variable and fixed interest rates is really significant. Now that the prime rate is extremely low, more and more people prefer obtain variable-rate cards. Let's take a closer look at fixed and variable credit rates and find out how they work.
Click here to read more...Initially, plastics were designed for those customers who seek for more convenience when spending their money. Now that a credit card is a necessity rather than a privilege, cardholders want to see more options on their plastics. Today card companies offer credit products that meet the expectations of various consumer groups - from college students to sports fans and art-lovers. In other words, they allow getting more benefits when making eligible purchases at your favorite merchant. And what about plastics that enable people to save?
Click here to read more...For most cardholders, a solid credit history is the aim they're trying to achieve by working hard on their credit. While some people manage to acquire a good credit rating without any particular efforts, the others suffer badly from their damaged credit history.
Probably, bad credit is not so bad itself. It would be better to say that interest rates and other charges associated with credit are far from ideal. One may have excellent financial habits, but if he or she has never obtained a loan, it may be a big problem for creditors. Bad credit may be a result of financial failures and credit card misuse. No matter what's the reason of your low credit score, the shortcut to low rates is a high credit score. Learn how you can fix it!
Click here to read more...Credit Card Dream - No Interest Rates, No Penalties!
If you were asked to describe the credit card of your dreams, how would you do that? Most probably, every cardholder would love to see low or no interest rates, more rewards, and no late fees on his/her credit card. For credit users in Sri Lanka, it's no dream, it's real. The ABC Barakah credit card issued by ABC Investment Limited comes with no interests or penalties for being late. On the one hand, this plastic is the one you can only dream about. On the other, it's not clear how banks benefit from cardholders. Is there any catch here?
Nope, it's no catch. It's a credit card that goes hand by hand with religious teachings. Take for example credit interest rates or late charges, they are forbidden under Islamic laws. That's why this plastic goes with no interests.
The question is, how banks benefit from their clients? The point is, the banking system in Sri Lanka is based on profit sharing. This way, if you are a depositor, your money will be invested by the bank in profit generating investments. So, if the bank gains profit, a depositor will also get his share in accordance with a predefined ratio. By all means, it's rather risky, but this system works.
First and foremost, this card should be used for Halal purchases only, i.e. permissible under Islamic laws. You can hardly buy cigarettes or alcoholic drinks with this plastic. Moreover, one cannot use it in casinos and nightclubs. We must acknowledge the fact that the cases of credit card misuse typically result in heavy charges.
While US creditors stimulate our buying by offering a bunch of credit perks, lenders in Sri Lanka keep an eye of consumer credit card spending. In Sri Lanka, if you happen to misuse the card, it will be immediately withdrawn, as this card is created in accordance with Islamic rules. Creditors will screen credit activity of cardholders, and if they see that a cardholder has made a forbidden purchase, he will be warned. If this goes unheeded, creditors will have to cancel the credit card.
Interestingly, but the issuers of this card will clear up all the dos and don'ts of credit card usage before a cardholder signs up for a credit card agreement. Isn't it a good chance to educate potential clients about smart credit use?
It must be said that initially ABC Barakah will be offered to established customers of ABC, or to those who have close relationship with it. The card will be secured with a deposit. The minimum credit card payment is supposed to be 25% of the loan. It will come in various categories, including Gold, Platinum, Elite, and more. The credit limit on a Gold credit card will be about 50,000 rupees, and as for Elite card, it will be up to half a million rupees.
It would be great to have a card with no inetersts!
I thought xtian bible also prohibits lending money for profit: Deuteronomy 23:19 "You shall not charge interest to your countrymen: interest on money, food, or anything that may be loaned at interest." Americans consider themselves xtians, and some of them believe that bible is to be taken literally. So - why all the loan rip-offs?
Another one, from Exodus 22:25 "If you lend money to My people, to the poor among you, you are not to act as a creditor to him; you shall not charge him interest." Yet the poorest of the poor usually have to pay the highest interest on any loan, and they were set up by predatory xtian lenders to take the adjustable rate mortgages, which were promptly adjusted UP.
And you people call yourselves xtians? You don't know what xtian is, if it swam up and bit you in your collective rear end.
I need get credit card. pls tell me how can i be get it via online
I would like to get credit card. Please lt me know how?
| If you have something to say, please leave your comments below. |
