Credit Cards in Alexandria
Just as in any other major city in the world, credit cards hold an important part of the life of people in Alexandria too. Though the post-Mubarak Egypt is experiencing political instability, financial activities are still being carried out though at a low ebb.
The invention of plastic money aka credit card has changed the way people think about spending their money. Credit cards let you make purchases of your choice when and where you want but this is great so long as you keep your expenses well below the approved limit of your card.
Use your credit cards wisely
Credit cards are for people with a determined mindset that helps them control their whims and fancies when it comes to using their cards. The cards are very helpful in times of need but you have to make sure that you don’t go overboard and land yourself in a bad situation wondering how to repay your credit card debt.
When the credit card holders use their cards for making purchases, the card-issuing-bank records the transaction thus tracking the monthly card expenses of the customer. At the end of each month, the banks bill the card holders for these expenses.
The merchant you shop with is reimbursed with the bill amount by the bank which then collects the payment from you after a month. This period can even be longer if you learn to use your credit cards wisely. Your credit cards are charged with joining fee, annual fee, late fee, cash withdrawal fee and over-the-limit fee.
Types of credit cards
Several types of credit cards with special features and benefits are offered by the banks in Alexandria:
Standard credit card which offers no extra benefits or perks
Balance transfer credit card which offers an initial rate of interest on balance transfers
Rewards credit card which offers rewards on all your purchases
Premium credit card that offers numerous benefits and perks
Retail credit card which can be used only at specific stores
Secured credit card which necessitates a deposit against the balance
While the above credit cards offer the said benefits to its customers, they have different names when issued by the different banks in the region.
The Application process
You need to submit copy of your National ID card if you are an Egyptian; or a resident visa if you are an immigrant. Besides, other documents such as your most recent bank statement, salary certificate and proof of age need to be submitted along with your application form.
In order to enhance the probability of getting a new credit card, you should ensure that your credit history is free of issues that would mar your reputation as a potential borrower. You can effectively manage your credit cards in Alexandria by:
- Transacting within your card limit
- Recording all your credit transactions
- Making timely payment of your card bills
- Paying keen attention to email and SMS alerts that update your credit transactions
- Keeping your PIN a secret
- Never loan your credit card
- Report the loss or theft of your credit cards immediately to the bank
MoneyGulf is just the place to go to in order to gather all the information pertaining to credit cards offered by the Alexandria banks. When you are not able to decide on the most advantageous credit card offer by banks, MoneyGulf does its part in helping you to take the right direction and make the most of the Alexandria credit cards.
Get in touch with MoneyGulf today and a representative will soon respond with the necessary assistance.