How to choose a Credit Card in Lebanon: Benefits and Costs

Published in Cards

Here are a few important facts about credit cards in Lebanon:

Fact 1- The cost of a card per year can be as high as USD 750 while the average price of a credit card in Lebanon is USD 97.6 and some cards are even free! 

Card Cost / Year:

  • Minimum: USD 0
  • Maximum: USD 750
  • Average: USD 97.6

Fact 2- You might be paying as high as 27.42% interest on your credit card if you calculate annually! Also if you use your credit card to withdraw cash from an ATM you pay a higher interest than when you use it to make a purchase a paying with it! Here are the numbers:

Interest Rate:

POS (Point of Sale i.e. when you buy something by swiping your card):

  • Minimum: 0.9% per 45 days or as if you are paying  an Annual interest of 7.2%
  • Maximum: 2.99% per 45 days or as if you are paying  an Annual interest of 27.32%
  • Average: 1.62% per 45 days or as if you are paying  an Annual interest of 14.08%

ATM (When you use your card to withdraw cash from the machine):

  • Minimum: 0.9% per 45 days or as if you are paying  an Annual interest of 7.62%
  • Maximum: 3% per 45 days or as if you are paying  an Annual interest of 27.42%
  • Average: 1.94 per 45 days or as if you are paying  an Annual interest of 17.06%
07 Nov 2014
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How to choose a Credit Card in Lebanon: Benefits and Costs

Here are a few important facts about credit cards in Lebanon:

Fact 1- The cost of a card per year can be as high as USD 750 while the average price of a credit card in Lebanon is USD 97.6 and some cards are even free! 

Card Cost / Year:

  • Minimum: USD 0
  • Maximum: USD 750
  • Average: USD 97.6

Fact 2- You might be paying as high as 27.42% interest on your credit card if you calculate annually! Also if you use your credit card to withdraw cash from an ATM you pay a higher interest than when you use it to make a purchase a paying with it! Here are the numbers:

Interest Rate:

POS (Point of Sale i.e. when you buy something by swiping your card):

  • Minimum: 0.9% per 45 days or as if you are paying  an Annual interest of 7.2%
  • Maximum: 2.99% per 45 days or as if you are paying  an Annual interest of 27.32%
  • Average: 1.62% per 45 days or as if you are paying  an Annual interest of 14.08%

ATM (When you use your card to withdraw cash from the machine):

  • Minimum: 0.9% per 45 days or as if you are paying  an Annual interest of 7.62%
  • Maximum: 3% per 45 days or as if you are paying  an Annual interest of 27.42%
  • Average: 1.94 per 45 days or as if you are paying  an Annual interest of 17.06%
Last modified on Wednesday, 14 January 2015 14:37

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