Comparing Classic Credit cards – which ones to use in Pakistan?

With rapid innovations and technological advances making tasks simpler in almost every sector of the economy, there are inventions in the banking sector as well that have created several benefits for its stakeholders.

While most banks operate a  business model of borrowing money from those who have excess funds and lending it to those in need, they also provide us with various complementary services that have made everyday activities a lot easier. One such invention of the 21st century is the Credit Card – a plastic that allows the holder to borrow and make payments on credit and subsequently return the borrowed money later. It is basically a substitute to paying by cash on the spot and are provided by almost every other bank in Pakistan.

The charges may vary as per your chosen bank; however, if the credit amount is paid within the allotted time frame limit, there shall be no interest charges. There are commonly three different types of credit cards; Platinum, Gold and Classic. Each of them caters to the needs of different income groups with supplementary features. This article focuses on the Classic credit card and compares three of the top cards in Pakistan.

What is a Classic Credit card?

A Classic credit card provides only an entry level incentive. It usually has consumers with income that fall in the low to medium category. It is primarily sold for infrequent spenders and value added features are scarce. Common features include:

  • Liability free guarantees in case of fraud
  • Interest free days which are less than those offered by Gold and Platinum cards
  • No transaction fee – no transaction fee is applicable for your purchases
  • No additional annual fee
  • Some banks may provide exclusive offers such as discounts on particular purchases

Silver Credit Cards, Easycash Credit cards and standard credit cards are similar to Classic credit cards, mainly because they offer the same rewards and benefits and target the same audience.

Which are the best Classic Credit cards available?

Three of the most popular classic credit cards in terms of their benefits, rewards and lowest charges as follows:

  1. MasterCard Easy Credit Cards – Standard Chartered Bank: It caters to the need of customers who are under severe financial constraints. It provides the customers with the convenience of cash withdrawal of up to 90% of your cash advance limit. In addition, it offers an “Asaan” installment plan that facilitates your monthly budget. Easy Credit cards have an additional feature of Chip card technology that mitigates chances of frauds to a great extent.
  2. Classic Credit Card – Bank Alfalah: It aims to serve young and salaried individuals who are looking for more benefits to avail on their credit cards. It has the feature of revolving credit with the option of paying only 5% of your outstanding balance by the payment due date. It provides a satisfactory SBS installment plan with up to 36 months for repayment.
  3. Classic/Gold Credit Card – MCB: It offers a basket full of remarkable features such as I-Revolve, for its Visa Credit cards. With I-revolve, markup rate on previous month’s retail transactions reduces every month up to 6 months. Similar features such as I-Bill, I-Cash, I-Reward, I-insure etc. can be obtained easily as part of your package.

Here is a brief table that shows an easy comparison of the common features of these Classic Credit Cards:


Credit cards are a great invention of the modern era. With increased competition among banks and due to the threat of new entrants such as Cyrptos, credit cards are under increasing pressure to reduce prices and offer incentives to the customers. However, customers should carefully evaluate terms and conditions before using these instruments on a day to day basis.

Also read, Debit card Vs. Credit card – which one should you use?