The ActivoBank Classic Credit Card provides the user with numerous privileges that would satisfy customers of different types. In regard to this type of the card, I elaborate that it is more appropriate for those who travel often or for those who shop rigorous. The advantages like no provision fees and its worldwide use as well as flexible choice of payments make Classic Credit Card rather rational.
The features are not enough for the credit card; thus, the Classic Credit Card is equipped with some bonuses that could help to attract more customers. If the required number of initial deposits is, for instance €20 for a Decathlon voucher or 10% off iService repairs, it is an opportunity to reap the benefits from the day you get the card.
Key information about the credit card
How does the annual fee work?
This credit card seems to have no notable disadvantages because it does not have the problem of an annual fee, which is common to most of the credit cards. This implies that you can enjoy all the freedom and the other aspects of the card without having to worry of an extra yearly charge.
How is the credit limit determined?
The credit limit of the ActivoBank Classic Credit Card is established according to the credit analysis of the potential risk. This procedure evaluates the sources of the applicant’s income, credit scores, and other elements that portray the applicant’s financial health.
Benefits of the credit card
- App management: Access the ActivoBank app for the card: this entails physical display of the card, enabling or disabling features of the card, as well as, monitoring of transactions.
- 10% discount on iService repairs: You can save some cash on a repair services of your Smartphone, computer, tablet or any other accessory by using your Classic Credit Card to make payment.
- Exclusive benefits at Pestana Hotels: Get benefits at Pestana Hotels by enrolling the Pestana Guest Club through the ActivoBank application.
Standout benefit
One of the many benefits that users of the ActivoBank Classic Credit Card have is Pestana Hotels affinity programme. Here, through the pestana guest club membership through active bank, cardholders are allowed privileges while at pestana hotels.
Drawbacks
- Interest rates: This credit card has a good sign up bonus and has a fairly good APR of 17%. 9 % for only one year together with a manageable nominal interest rate of 17 %. up to 400%, which poses a possibility that the interest expense will also be very high if the total balance is not paid at the beginning of the month.
- International transaction fees: The prevalence of the trailing zeros is possible due to the fact that there is a 3. To make matters worse, an 85% fee of cross-border transactions that were not effected in the regulated currency was incurred making it even more expensive to engage in cross border transactions.
- Cash advance fees: Further expenses are provided by a line that envisages 4% of the amount of cash advances, with rates starting at €4. Transaction costs involving countries and currencies within the regulation 518/2019 requirement entail a cost of up to 00% of the total transaction value plus a 3. 85% for other regions.
A standout disadvantage
The first publicly declared disadvantage of the ActivoBank Classic Credit Card is the huge interest rates on charges. Thus the TAEG of this plane is estimated to be 17. 9% and having TAN of 17. 400% Hence the practice of a being ‘’IN DEBT. ’’ When one uses a card to buy something or receive cash, they end up paying back with interest hence being in debt becomes costly in the long run.
Who can apply for this card?
Below are eligibilities that an applicant has to meet in order to be considered for the ActivoBank Classic Credit Card. There are some requirements that have to be met; one of them is age must be minimum 18 years. Another filter is a minimum income, which will also be during credit risk analysis and evaluation of the clients.
This would suggest that the credit track record of the applicants should be relatively clean and free from noticeable adverse remarks like the payment defaults or the bankruptcies. The card issued for the people living in Portugal and identification proof, income proof, and residence proof are necessary to avail of this card.
How to apply for the ActivoBank Classic Credit Card
For the website
To apply for a Classic Credit Card in ActivoBank, one has to follow the following steps; The first step is to go to the ActivoBank official website and under the credit card tab. Getting there, look for the Classic Credit Card option to appear and then on the right side of it, click the ‘Apply Now’ button. You will then need to fill in the online application by providing your basic and financial information conscientiously.
Once the form is complete, customers are required to attach documents including, identity, income, and residence to the application. Last but not the least, it is recommended to go through the application once again interpreting all the data provided to avoid any mistakes upon the its submission for processing.
Through the app
To apply for a Classic Credit Card through ActivoBank application, firstly, you need to download an ActivoBank application on your mobile phone or tablet. On downloading the app, locate it and click to open it, then proceed to log in with your account information. In the present app scroll down to the Cards category and click on the Classic Credit Card.
Continue by entering the information into the fields outlined in the application form about yourself as well as the financial details. A form, the completion of which is obligatory, should be filled in and submitted; additionally, you may upload documents proving identity, income, and residence. Then, the application is compiled and submitted to the relevant department through the app.
At the branch
To open a Classic Credit Card account, first of all, go to the branch locator on the ActivoBank website or the application and find the nearest branch. When you get there, first approach a customer service personnel and tell him/her that you wish to be considered for the Classic Credit Card.
Personal and financial details have to be filled in an application form which the branch staff will help complete. Hand over all the relevant paperwork you completed over the filled form then your application will be processed.
