50% Credit Card Limit Hike & More: Updates from Egyptian Banks

Egyptian banks, including the National Bank of Egypt (NBE), Commercial International Bank (CIB), and Banque Misr, have introduced significant updates to their credit card offerings aimed at improving customer satisfaction and aligning with current economic trends.

NBE has raised international spending limits by 50% and slashed foreign currency conversion fees to 5% from 10%. Visa Classic and Mastercard Standard holders can now spend up to 7,500 EGP domestically, while Visa Gold and Mastercard Titanium limits are set at 37,500 EGP.

Higher-tier cards like Visa and Mastercard Platinum have increased limits up to 90,000 EGP.

CIB has followed suit, increasing international spending limits by up to 50% and reducing currency conversion fees to 5%. Domestic monthly limits have been adjusted to accommodate Prime and Plus clients at 75,000 EGP, while Wealth, Private, Business Banking, and Corporate sectors can spend up to 100,000 EGP monthly.

Internationally, spending limits range from 100,000 EGP for Prime clients to 250,000 EGP for Wealth clients.

Banque Misr has also enhanced its credit card policies, increasing foreign currency spending limits by 50% and lowering conversion fees to 5%.

These adjustments reflect robust dollar liquidity and bolstered foreign currency reserves following recent monetary policy shifts by the Central Bank of Egypt. Customers are advised to visit their respective banks’ websites for further details.

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