Doha Bank Lulu Credit Card - Some fine print

I recently applied for Doha Bank Lulu Credit Card and they gave me not only Lulu Credit card but also a dream card. A Doha Bank employee came to my office and collected all the documents and took sign on the forms. Once I received the card and got it activated, I came to know couple of things which were not mentioned anywhere before:

1. There is a Credit Card Cancellation charge of QAR 300 on Doha Bank Lulu Credit Card and QAR 150 on Dream Card as told by the Call Center representative of Doha Bank. Even though I don't use the card and want to cancel it.

2. By default I cannot make 100% repayment of my credit card balance. Only 3% is recovered by Doha Bank on a monthly basis. This in turn results in paying hefty interest on the balance amount. If I want to make payment of 100% of my credit card balance then I need to visit the branch and sign a separate form for this purpose.

Both of these conditions are very strange and don't know if QCB allows banks to charge credit card cancellation fees and also of fooling customers on their repayment schedule.

So be careful next time when you apply for Doha Bank credit card, just enquire on these two things as the sales person of Doha Bank won't tell you this.

Thanks,
Sanjay

Comments

silenceisgood

Thanks for confirming this, i am DohaBank customer and their credit card sucks. I am thinking of changing bank. :-) just because of credit card issue. My collegue is some other bank customer, have a free for life CC with access to Airport loungues..... wow.

lion1980

I do not have the above said card, but re-paying 100% is something anyone can do on their balance. It's just that the automatic setup to recover will be 3% as you mentioned. Either you pay cash or transfer online when it's due. Also as you mentioned you should be able to make a request to reciver 100% automatically.So why moan about this normal matter? Ofcourse the cancellation charge is STUPID! :) make a complaint to the QCB!

minnu

I am customer of the subject card an iam not paying any interest as they take full amount of the credit I purcahsed. But I want to know the 5% bonus is given by Lulu or Doha Bank. if it is by Doha Bank, it is interest money whhich is Haram (prohibited by relegion) for Muslims.

cherukkan

As said by lion1980 the 5% is set by default to be settled from your account automatically. I don't have a DB Card but my payment condition with other two banks are 5% still I can pay my balance by 100% through ATM or through net banking. I think it should be the same case for Doha Bank also.

sbarnwal

The problem is to have 100% payment done automatically through my account I have to visit their branch which is a big hassel. When you apply for the card they come to the office with all the forms, at that time itself they should provide this information about the reapayment schedule that by defalut there would be only 3% of outstanding repayment and if I want to make 100% repayment then I have to sign another form. Then its acceptable. I have not heard any other bank having this practice of recovering only 3% as repayment by default. Another bigger surprise was the cancellation charges which is stupidity.

Mary Catherine

If none of these charges are stipulated in the documents you read and signed, file a complaint with the Qatar Central Bank.

pbh2011

Hi Sanjay & all, I have dis card & settle my card bill when I want thru Doha bank online banking..3% is just the min due which gets deducted from my acct automatically..I'm free to make extra payment anytime..this only gives me more flexibilty to plan my finances. Lets be honest..v took this card because of the 5% saving @ lulu and free for life..infact it is 10% saving in ramadan..which card is giving you this benefit on weekly groceries ?? We have all been in countries where card payments r made by cheque and interest rate is 3% per month and those cards were not even giving these benefits..so why crib? Try www.justthedeals.com Ur Lulu card will save u a lot more money than anything else

CommercialBank

Hello this is Commercial Bank :), our simplest credit card package is free for the first year, and you can pay off 100% of the balance at the end of every month with no charge. What's more, you're automatically enrolled in our Rewards scheme, where points earned for credit card spending can get you free flights and meals out. http://www.cbq.qa/EN/Personal/Cards/Credit-Cards/Pages/Titanium-Package.aspx
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