Credit Card Options Offered By Kenya Commercial Bank

Kenya Commercial bank is the largest bank in Kenya and considered as a tier 1 bank with more than 250 branches across Kenya.

The bank offers a large portfolio of products ranging from investment, mortgages, loans, credit cards etc. However, in this article, we shall concentrate on the credit cards.

A credit card by definition refers to a small plastic card normally issued by banks that allow the holder to purchase goods or services and pay for them at a later date.

Below are the credit card options offered by KCB.

1.Platinum Visa Card

This is a card available to both KCB and Non KCB customers and it offers you the best credit card experience with the best credit limits. Ideal for avid travelers.

Benefits

Holders of this card have access to over 950 airport lounges worldwide with best lounge facilities for them and their family, it is safe and secured, convenient to use with flexible payment options and also the card is acceptable worldwide.

Requirements for application

For salaried individuals, one has to provide a copy of latest payslip, National ID/Passport, latest 3 months’salary account bank statements from any local bank, duly filled application form and must be earning a net salary of at least Kshs. 300,000/= 

For business customers, a copy of National ID, business registration, latest 6 months’ bank statement, duly filled application form and must be banking with KCB with average credit amounting to Kshs. 300,000/=

Rates & Fees

The card attracts an annual fee of Kshs. 7,500/= , monthly interest of 3.5% of the total outstanding balance, cash advance interest of 6% of the amount accessed, late payment interest of 5% of the outstanding balance, over limit fee of Kshs. 2000, card replacement fee of Kshs. 2000 and supplementary fees of Kshs. 4,000/=

2.Gold Visa Card

Benefits

The card is accepted globally and requires no joining fees, is convenient to use with flexible payment options and 45 days interest-free period on purchases.

Requirements for application

For the employed, one has to provide a copy of National ID / Passport, latest 3 months’ salary account bank statements from any local bank, duly filled application form card and a copy of latest Payslip with minimum net pay of Kshs. 200,000

For the self-employed, a copy of national ID, business registration, bank statements for the last 6 months and a duly filled application form.

Rates & Fees

The card attracts an annual fee of Kshs. 4000, monthly interest of 3.5% of the total outstanding balance, cash advance interest of 6% of the amount accessed, late payment interest of 5% of the total outstanding balance, over limit fee of Kshs. 1000, card replacement fee of Kshs. 1000, supplementary card at Kshs. 1000 and minimum repayment of 20% of the total billed amount.

3.Classic Visa Card

This is a card ideal for first time credit card owners that gives financial freedom.

Benefits

The card is safe and secure, acceptable worldwide, it requires no joining fees, has flexible payment options and very convenient to use with 45 days interest-free period on purchases.

Requirements for application

For the employed, one requires a copy of National ID / Passport, latest 3 months’ salary account bank statements from any local bank, duly filled application form and a copy of latest Payslip with minimum net pay of Kshs 20,000

For the self employed, one needs a copy of national ID, business registration, bank statements for the last 6 months and a duly filled card application form

Rates & Fees

The card has a monthly interest of 3.5% of the total outstanding balance, cash advance interest of 6% of the amount accessed, late payment interest of 5% of the total outstanding balance, Over limit fee of Kshs 1000, annual fee of Kshs 3000, card replacement fee of Kshs 1000, supplementary card at Kshs 1000 and a minimum repayment of 20% of the total billed amount

4.Gold MasterCard

This is a card ideal for middle level income earners and offers you a convenient and secure means of payment.

Benefits

The card requires no joining fees,  it is convenient to use with  flexible payment options and 45 days interest free period on purchases. It is safe and secured and is accepted globally.

Requirements for application

For the employed, a copy of National ID / Passport, copy of latest Pay slip with a minimum net pay of Kshs. 50,000, latest 3 months’ Salary account bank statements from any local bank and a duly filled card application form.

For the self employed, one requires a copy of national ID, business registration, bank statements for the last 6 months, duly filled card application form and must have a net monthly turnover of Kshs. 50,000

Rates & Fees

The card has an annual fee of Kshs. 4000, monthly interest of 3.5% of the total outstanding balance, cash advance interest of 6% of the amount accessed.

It also has a late payment interest of 5% of the total outstanding balance, over limit fee of Kshs. 1000, card replacement fee of Kshs 1000, supplementary card at Kshs. 1000 and a minimum repayment of 20% of the total billed amount.