QIIB has announced the launch of the “latest and distinctive features” on credit cards, allowing customers to avail themselves of a monthly payment plan equivalent to 5% of the due amount on the credit card.
Users can also collect QIIB Points that may be redeemed for travel tickets on more than 900 airlines worldwide, the bank said in a press statement.
Mohamed AlMawlawi, GM, chief of business development and marketing at QIIB, said: “The launch of the 5% monthly payment plan for QIIB’s credit cards comes within the framework of innovation and in response to customer requirements. We hope the features-packed QIIB credit cards will meet the various needs of our customers in different categories and that they will find these easily accessible and most convenient.
“The advantages and benefits of QIIB credit cards are many. Besides the option of a monthly payment plan, equivalent to 5% of the total due amount on the credit card, our customers can also earn QIIB Points that may be redeemed for tickets on more than 900 airlines worldwide. Also, QIIB credit cards are accepted worldwide.”
AlMawlawi explained that the holders of QIIB credit cards with the 5% monthly payment plan need to pay 1% as monthly profit rate. They are entitled to Takaful coverage of up to QR100,000 at “competitive charges in the sad event of a death,” he noted, adding that QIIB customers have the option to settle credit card payments by instalments or as a lump sum. In case they choose to settle the whole amount, the 1% monthly profit rate will not be applied.
The official urged the bank’s customers to make use of the features of the QIIB credit cards, which would “help them fix their priorities and settle their obligations at the lowest cost possible.”
Flexible payment options will help customers who due to various reasons may not be able to pay and clear their outstanding amount immediately.
AlMawlawi also expressed confidence that the various innovative features of the credit cards would be accepted and acclaimed by a wide range of QIIB customers.
Existing customers or newer customers who wish to avail themselves of the features may visit any of the bank’s branches.