Looking for a credit card that cost you zero joining fee and free annual fee? Look no further as Bank Islam Alumni Platinum MasterCard Card-i has arrived at your school.
Am I eligible if Im 22 years old?
Anyone of 21 years of age and above from all walks of lives can get their hands on this credit card. If you have beneficiaries, they must be 18 years old to qualify for the supplementary card. Financially-speaking, the principal cardholder must have an income of RM24,000 annually.
Accessible line of credits
Student life can be costly; but it is impossible to escape them, right? Say you need money for a new textbook but it is too pricey that it eats up your pocket for the month. You can swipe your credit card OR withdraw cash from your credit card to pay for the book.
If you swiped but are unable to pay it back so soon, you can convert the balances into monthly payments. With Bank Islam EPP and IPP, you are stretching the big amount into smaller instalments and pay them between 3 to 36 months. Plus, there is no interest and no upfront handling fee to do so.
Zakat payment made easy
You can spare yourself from the long queue at the Zakat counter and perform you Zakat (tithe) obligation as conveniently as possible via deduction from your credit card. All you need to do is to check on Bank Islam’s website for Zakat centers that accept this payment method.
FREE Takaful protection
Who doesn’t like FREE stuff that is teeming with benefits? Under this Takaful plan, you will be covered with personal accident benefits while traveling for up to RM1,000,000 apart from third party liabilities and compensation for travel inconveniences.
That’s not all, there is also a FREE Takaful coverage on outstanding balance and funeral expenses, if something unexpected befell on you while you’re not traveling.
What to watch out for?
Well, if you fail to finance your debts timely, you will be slapped with tiered profit rates on the remaining amount. Depending on how discipline are you in meeting your statement due date, the profit rate could go as high as 17.5%. To enjoy the lowest profit rate of 13.5%, you should make at least 10 prompt payments in a year.