Midland Bank Launches Visa Signature Credit Card With Limit of Up to Tk 4 Million
Midland Bank has launched a new Visa Signature credit card for customers, combining premium lifestyle, travel, dining and payment benefits. The card was unveiled at a ceremony at a hotel in Dhaka recently, the bank said in a press release.
The card was inaugurated by Midland Bank's managing director and chief executive officer Imtiaz U Ahmed. Deputy managing directors Md Zahid Hossain and Md Nazmul Huda Sarkar, head of cards Md Abed-Ur-Rahman and other senior officials were present at the ceremony.
According to the release, the Visa Signature credit card has been introduced to give customers a premium and attractive payment experience. As competition grows for premium customers in the banking sector, the card has been designed with that segment in mind.
Cardholders will receive a credit limit of up to Tk 4 million. The card also offers an interest-free period of up to 45 days, meaning purchases carry no interest if the bill is paid within the stipulated time.
Every purchase on the card earns eight times reward points. It also carries dual-currency facility, allowing transactions in taka at home and in foreign currency abroad with the same card.
For travel-loving customers, the card offers access to airport lounges at home and abroad. It also includes convenient airport pick-up and drop services, easing journeys at the start and end of foreign trips.
As a health benefit, cardholders will also receive health check-up facilities. Lifestyle benefits include 'buy one get one' offers at selected hotels, buffet dining and special privileges on hotel stays.
On the transaction side, cardholders can transfer up to 95 percent of funds. The card can also be used to pay insurance premiums, online shopping bills, tuition fees and utility bills, the release said.
Everyday conveniences include mobile top-up and NFC contactless payment — paying by simply tapping the card. Money can also be added to the card free of charge from mobile financial services such as bKash, Nagad, Rocket and Upay.
Altogether, Midland Bank's new card rests on five pillars: a high limit, a long interest-free period, reward points, lounge and travel benefits, and ease of everyday payments. Those involved see it as a move to strengthen the bank's position in the premium card market.
Details of eligibility and conditions for interested customers will be available from the bank's branches and its own channels. After the launch, how customers respond will determine the success of this premium product.
