Aseel Finance Credit Cards
Aseel Finance Pvt. JSC (Known as ASEEL) is a private sector company that offers sharia-compliant financial services for consumers across the UAE. Aseel operates from Abu Dhabi, UAE and it was established in August 2006. This company is one of the leading companies in the UAE’s Islamic Finance market. The sole aim of the company is to provide the most transparent and trusted Islamic finance solutions to the customers and businesses, helping them to achieve great success.
Aseel Finance is the first financial organization that issued the Visa Platinum Business Credit Card in the UAE and MENA region. This Aseel Finance Credit Card is specifically designed to meet the financial requirements of small and medium businesses. Being one of the top leading financial service providers in the UAE, Aseel has won numerous prestigious awards that are attributed to its success and growth in the financial market.
Credit Cards offered by Aseel Finance
Currently, Aseel Finance offers one credit card- Aseel Business Credit Card. This Aseel Finance Credit Card provides freedom, mobility, and flexibility to grow and control the business from anywhere in the world. It offers unparalleled features to meet the specific business needs, allowing the cardholder to take their business to another level. To be precise, this credit card offers amazing cost-saving features for the business, all in a Sharia-compliant way.
Features & Benefits of Aseel Business Credit Card
Loaded with a wide range of features, Aseel Business Credit Card enables the cardholder to take their business to the next level. Following are the top features of this Credit Card:
- Balance Transfer: This card offers the balance transfer facility. It allows the card members to transfer their outstanding balance from other cards to Aseel Business Credit Card.
- Low-Profit Rate: This Aseel Business Credit Card charges extremely low and competitive profit rates. The cardholder has to pay a low-profit rate on their outstanding balance.
- High Cash Withdrawal: The cardholder can withdraw cash up to 90% of their available credit limit at a low-profit rate.
- Cash Back: Using this Aseel Finance Credit Card, the card member can earn reward points. On the card anniversary, these reward points will be converted into cash back.
- Quick cash: This card fulfills the requirement of instant cash. The cardholder can withdraw cash up to their available credit limit and repay in installments through easy and convenient repayment options.
- Visa Intellink: This is one of the most unique features of Aseel Business Credit Card that other cards do not match. This exclusive feature of Aseel Finance Credit Card enables the card member to view and manage all of their expenses very easily. It simplifies, and tracks every expense and helps the cardholder manage their cash flow in a better manner. This powerful analysis tool helps the card member plan their expenditure as per their budget.
- Zero Annual Fee: There is no annual fee charged on Aseel Business Credit Card for the first year.
- Free Grace Period: A grace period of up to 51 days is provided to the cardholder to settle their outstanding balance after the due
- Supplementary Credit Cards: The cardholder can get up to 6 supplementary or add-on cards for their company’s partners or employees.
- Minimum Repayment of 5% and Easy Installment Plan: Member of this Aseel Finance Credit Card can pay as low as 5% of their total outstanding balance. In addition to this, they can pay back through flexible & convenient Installment Payment Plans for up to 36 months.
- Eminence & Recognition: The cardholder’s company name embossed on this Aseel Business Credit Card gives them much-needed recognition.
- Free Trial of Credit Shield Takaful: After the activation of Aseel Business Credit Card, the cardholder will get a free trial of Credit Shield Takaful for 30-days. Credit Shield Takaful safeguards the cardholder against the unforeseen events.
- Worldwide Acceptance: This Aseel Finance Credit Card is accepted in over 39 million establishments in 200 countries across the world.
- Business Cost Savings Scheme: The Aseel Business Credit Card offers a wide range of offers and discounts. These offers and discounts help in reducing the business expense incurred due to car rentals, hotels and travel, courier service, gifts, restaurants, and the like.
- Free Expense Tracking Tool: Aseel Finance provides the 1st expenses tracking tool in the MENA This user-friendly tool enables the cardholder to generate up to 12 standardized reports on demand for tracking spending put on the card. In addition to this, card member can schedule their reports to be generated periodically.
Also, business owners can set role-based permissions to manage the utility of Aseel Finance Credit Card.
- Documentation: This card requires minimum documentation.
- 3D Secure Transactions: This Credit Card is equipped with exclusive chip & PIN card technology that ensures enhanced safety and secure online transactions.
- SMS Alerts: Cardmember gets SMS alerts on their mobile phones for all purchases, ensuring that they are completely aware of the usage of their card.
Fees & Charges of Aseel Credit Card
There are several fees and charges that are applicable to this Aseel Finance Credit Card. Here is the complete list of fees & charges of Aseel Business Credit Card:
|Fees & Charges|
|Profit Rate||1.99% p.m.|
|Annual charges for Primary Card (1st year free)||AED 500|
|Supplementary/Additional Cards (up to 6 supplementary cards are free)||AED 50 per supplementary card|
Some Other Fees & Charges of Aseel Business Credit Card:
|Other Fees & Charges|
|Late Payment Fees||AED 159|
|Card Replacement Charges (Free once a year)||AED 100|
|Statement of a Month||Free|
|Cash Advance or cash withdrawal Charges||AED 60 for every transaction|
|Returned Cheque Charge||AED 100|
|Duplicate Statement Charges:
Less than three months old statements
|AED 25 p.m.
AED 50 p.m.
|Processing Charges for an outstation Cheque||AED 50|
|Takaful Coverage for Credit Shield||0.89 percent of the outstanding amount (free for the first 30-days)|
|Copy of Sales Voucher (Up to max 30 days)||AED 25|
|Foreign Transaction Fee||3.75% for every transaction|
|Dispute verification fees||AED 100|
Some General Fees & Charges of this Aseel Finance Credit Card:
|General Fees & Charges|
|Cash Advance Limit||90% of the total credit limit|
|Minimum Amount Due||5% of outstanding amount or AED 100, (whichever is greater)|
How to Cancel an Aseel Business Credit Card?
In order to cancel the existing Aseel Finance Credit Card, the cardholder needs to talk to an Aseel Finance representative and let them know about the reason behind their request for card cancellation. The bank representative will check the credit card details of the card member. In case there is any outstanding payment, the card member will have to clear the outstanding payment. Once all the dues are cleared, the card will be canceled.
Why Choose Aseel Finance Credit Card?
Although there are innumerable reasons to choose Aseel Business Credit Cards, some of the major ones are as follows:
1. Unique Features
This Aseel Finance Credit Card has a wide range of amazing features and benefits which plays a vital role in supporting local business. The card also gives businesses an innovative way to manage their business expenses through Visa IntelliLink. This web-based tool provides customers access to transaction data, allowing businesses to track their spending so that they can easily stick to their budget.
2. Customer Care Support
This Aseel Finance Credit Card is supported by Visa’s global customer care service. Therefore, it offers the ultimate customer care support to the cardholder.
3. Worldwide Acceptance
Another major reason to choose this Aseel Finance Credit Card is that it is globally accepted at more than 30 million establishments in 200 countries. In addition to this, it provides cash advance at over 800,000 ATMs across the world.
4. Awards & Recognition
The Aseel Business Credit Card was awarded Best Business Credit Card - UAE at UAE Product Award, 2016. It is one of the best credit cards for those who are looking to take their business growth to the new heights.
Aseel Credit Card Frequently Asked Questions
Q.1. What is Aseel Business Credit Card?
It is an Islamic credit card that comes with a competitive profit rate. This card offers a wide range of benefits, privileges, and discounts with its exclusive cost-saving business schemes. It lets the cardholder make the most of their credit card.
Q.2. How is this business credit card different from other personal credit cards?
This Aseel Finance Credit Card is issued to your company/organization, particularly to one person (primary card member). This card helps you separate all of your company expenses from other personal credit card spend.
Q.3. Where can I pay my Aseel Business Credit Card bill?
You can pay your outstanding amount at one of the 153 UAE Exchanges branches all over UAE. When you pay full outstanding amount, you will also earn reward points.
Q.4. Can I withdraw cash from this Aseel Finance Credit Card?
Yes! You can withdraw cash up to 90% of your total available credit limit.
Q.5. What am I supposed to do if my credit card is stolen or lost?
If your credit card gets lost or stolen, you must report the same to the bank’s representative in order to block your card. You can do so by calling on the customer care helpline of Aseel Finance.
Note- You will be charged a minimal replacement fee.
Q.6. With how many partners or employees can I share my credit limit?
You can share your total credit limit with up to 9 supplementary card members, out of which 6 supplementary cards are free.
Q.7. Do I need to sign on the signature panel on the back of this credit card?
Upon receiving the card, you are immediately required to sign on the signature panel on the back of the Aseel Finance Credit card with a ballpoint pen. This is required for your own security as this signature will be utilized for the verification of the transaction at merchant locations.
Q.8. Is this Aseel Finance Credit card protected against fraudulent use?
Yes, this Aseel Business Credit Card has a 3D secure feature that provides enhanced security. When a card transaction is made, an SMS alert is sent to the registered mobile number.
Q.9. Where can I use the Aseel Business Credit Card?
This Aseel Finance Credit card is accepted globally at more than 30 million establishments in 200 countries. In addition to this, it provides cash advance at over 800,000 ATMs across the world. It can also be used for online transactions and at POS.
Q.10. Aseel Business Credit Card is accepted by which merchant?
Aseel Business Credit Card is accepted by all merchants which display the VISA logo even if they don’t have a chip-reading machine. In the absence of the chip reading machine, you will need to swipe your credit card and then you will need to sign on the receipt in order to confirm your purchase.
Important Note: If the transaction is not Shariah-compliant; it may get declined or may not proceed further.
- ADCB Credit Cards
- ADIB Credit Cards
- Ajman Bank Credit Cards
- American Express Credit Cards
- CBI Credit Cards
- Citibank Credit Cards
- Commercial Bank of Dubai Credit Cards
- Deem Finance Credit Cards
- Dubai Islamic Bank Credit Cards
- Emirates Islamic Credit Cards
- Emirates NBD Credit Cards
- FAB Credit Cards
- Finance House Credit Cards
- HSBC Credit Cards
- Mashreq Bank Credit Cards
- Mawarid Finance Credit Cards
- NAJM Credit Cards
- NBF Credit Cards
- Noor Bank Credit Cards
- RAKBANK Credit Cards
- Sharjah Islamic Bank Credit Cards
- Standard Chartered Bank Credit Cards
- United Arab Bank (UAB) Credit Cards