Sri Lanka Credit Card

By: EconomyWatch Content   Date: 29 January 2010

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Credit cards are not very widely used in Sri Lanka. The use of credit cards shrunk with private sector credit dropping to LKR1264bn in January 2009 from LKR1278bn in December 2008. Around 10% internet users use credit card as medium of payment. However, credit card purchases are limited due to a number of constraints. For instance, the credit range of a normal Sri Lanka credit card spans between USD 500/- and USD 1,000/-, which restricts users from purchasing high priced items. 

Sri Lanka Credit Card: Types

Some popular Sri Lanka credit cards are as follows:

 

HSBC: The bank offers the following credit cards:

Premier Credit Card: The HSBC Premier MasterCard® lets a cardholder earn 3 points for every Rs.100 spent.You can start redeeming your points once you reach the 500 point mark.

Platinum Credit Card: To be eligible for this card, one should be earning at least LKR200,000 gross/month. Having one million in fixed deposits also makes you eligible to apply.

Gold Credit Card: This card lets you make purchases for 51 days without charging interest.

Classic Credit Card: No interest is charged for purchases made up to 51 days. You can get an additional card for family members.

 

Commercial Bank: The bank offers the following credit cards:

 

COMBANK International Corporate Cards: The best card for business travelers, for local and overseas use. You can use this card at 21 million stores and more than 900,000 ATM's worldwide. This card is widely accepted at hospitals, hotels, restaurants and supermarkets.

 

COMBANK International Classic: This card features:

  • Lower interest rates

  • Interest free (0%) installment schemes

  • 'COM DEALS' discounts at selected merchants

  • 06 convenient settlement cycles

 

COMBANK International Toyota Land Cruiser Club Card: Provided only to those who buy a brand new Land Cruiser from Toyota Lanka. This card offers the following benefits:

  • Faster Processing

  • Choice of six convenient settlement options

  • Lower interest rates calculated on daily balance

 

Sampath Bank: The bank is a Public Limited Liability Company and offers the following credit cards in the following categories: 

  • Visa Platinum

  • Gold and Silver

  • Chip Card

  • Affinity Cards

  • 0% Interest

  • Plus Points

 

 


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