how to start a credit card in egypt and how much does it cost?

Question

im 18 and i want to keep my money, does it have interest and how much?

Answer 1

you can't start a credit card under the age of 21, it's the legal age of maturity in Egypt.
But there's still a way, you can sign up for an ISIC Student card at CIB (Commercial International Bank) and ask them about the offer of an extra "com card" which is an electronic master card used for online transactions.
it costed me only 40 egyptian pounds to start it, and I'm not sure if there's any interest but I guess not.
Moreover, ISIC student card can be used as a global ID, also you can withdraw money from ANY mastercard ATM not necessarily the CIB's without being bothered with extra fees, which are up to 10% of the withdrawal value sometimes..
you also sometimes recieve reasonable discounts when you pay using your ISIC Cards.
I Recommend it !

Edit :
ancient, a BM Card is not a credit card, it has an equivalent system in CIB which is called "Y Card" (Y for youth)..it's a master card electronic that is used for electronic transactions.
however, the internet card you get with it is the same .com card you get with an ISIC card..
well, Bank Masr has its advantages, you can find its ATMs almost everywhere around Egypt.
but I give the credit to CIB because the service there is very neat, and moreover, with an ISIC you could -as mentioned before- withdraw your money from any ATM without having extra fees.
BM Cards and Y Cards require a current balance in the bank, they are used electronically, my Y card has a magnet tape at the back and I almost use it everytime at spinney's supermarkets instead of carrying money, I guess BM is the same.
while an ISIC card doesn't require a bank balance, you just DEPOSIT some money in the bank in a temporary account and use your ISIC afterwards to withdraw the amount you need, another good thing is that you can use it as an identification globally..
a .com card is an internet-restricted credit card...
so now you have BM Cards, Y Cards, ISIC Cards and .com cards..
BM, Y and ISIC have passwords and serials but cannot be used for online transactions...while a .com card or an online card from Masr Bank are used for online transactions..I have no idea how you can get it from Masr or Al Ahly Bank, but in CIB you get it as a gift for your ISIC card..sorry i'm a bit confusing I know but long time no sleep..Exams !!

Answer 2

Cib Egypt Internet Banking

Answer 3

you dont need ISIC to have credit card .
you are 18 , since you are 16 you can get BM CARD from bank MASR or SHABAB CARD from EL-BANK EL-AHLY , which are both ELECTRONIC MASTER CARD , you can use them in any ATM of any BANK IN EGYPT or ALL OVER THE WORLD ,
they are accepted in many stores ( not all ) .
you can't use them to buy by internet , and if you would like to do there is a special card for internet in both banks BANK MASR & EL-BANK EL-AHLY

you can use it as long as u still have credit inside the card .

it GIVES you benefits about 9 or 10% every year , so your money will increase

all you need to get it is ID ( original one and copy ) and fees....
i dont know how much is the fees now but when i made BM CARD it was 10 pounds and this was about 4 years ago and SHABAB CARD was more , but i dont know exactly

BM renewed automatically every 3 years .
and shabab card every year (not completely sure of this part about shabab card)

by the way BM CARD gives you some discounts in some stores and cafes
you can contact any branch near you of both banks

these are numbers of card section in BANK MASR :
02-7950517
02-7962850
02-7962844

i dont know the numbers of EL-BANK EL-AHLY , sorry

Answer 4

I think there is credit cards issued to the under 18.
I m not a banker, but i know this because i was at the HSBC issuing one the other day. i was filling the application, when it stopped me, a check-box for the educational status; and one of the check-boxes was reading: "not having a high school" (Lam Ya7sol 3ala Thanaweya 3amma)
so, i asked the woman sarcastically: " Did ever happened that you found someone ticked that check-box? " i mean, you know people, love to brag about educational status, or pretend to be well educated. anyways, she told me that it's done for people under 18 who their parents issue them the credit card.
So, you can have one, after the consent of your parents, and of course guarantee to finance yor credit.