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For anyone living in Dubai, or in fact anywhere around the UAE, cash back credit cards offer a myriad of benefits. The way cash back credit cards work is pretty simple. The bank rewards the cardholder for the purchase made using a credit card in the form of additional balance. The reward is offered by the bank as a pre-decided percentage of cash back on every purchase. If the cardholder pays off the credit card bill, he can use the received cash back in the form of discounts for most of their purchases. The applicable terms and conditions for the best Cashback Credit Card in UAE vary on the basis of the banks.
In more generalized terms, a cash back program is a reward program offered by various credit card providers where a percentage of the cash spent by the cardholder is paid back. Many card providers offer various programs and offers to encourage incentive-based purchases. Under these programs, the frequent usage of the card rewards the cardholder in the form of additional discounts, flyer miles or monetary benefits.
The monetary benefit is the primary benefit offered by cash back credit cards. In most of the cases, cash back credit cards come with an annual rebate of a specific percentage of the net spend(paid expenses-refunds), which is either transferred to the account or paid to the card member separately.
When a merchant accepts payment by credit card, a pre-decided percentage of the transaction amount is transferred as a commission to the bank. When accepting an electronic payment, the merchant cannot charge a higher price from the cardholder. The credit card issuer i.e. the bank will offer a part of the commission to the cardholder. It will encourage them to use the credit card when making a transaction. These days, accountholders are opting for rewards based products like cash back credit cards. Rewards based products such as cash back credit cards have a higher APR (annual percentage rate).
In case the cash back credit card bill is not fully paid, the bank will charge an extra interest. Apart from that, it will diminish the possibility of earning any rewards.
Credit cards have become integral for every person. With a sudden rise in average purchasing capacity of modern city dwellers in the UAE, there has also been an exponential increase in usage of credit cards. Owing to this positive change, banks have become more competitive than ever. As a result, they offer numerous benefits with the best cash back credit cards in UAE.
The potential and popularity of cashback credit cards in the Arab region are on the rise. Hence, almost every major bank offers the cashback credit cards but best cash back cards in UAE are offered by a few banks.
Getting valuable information helps an individual in shortlisting which cashback card is worth opting for. Listed below are some important features and benefits of cashback credit cards.
When it comes to describing the advantages and benefits, Dubai First Cashback Card is one of the best credit cards offered in the UAE. With an annual fee of AED 400, the cardholders can earn more cash back on daily purchases than any other cash back credit card in UAE. Apart from that, an array of lifestyle and travel privileges is offered to the cardholder.
Interestingly, the more a cardholder uses a credit card for everyday purchases, the higher cashback he receives. Instead of making purchases using a debit card or cash, which do not offer any rewards; using a cashback card always offer something in return. There is often a cap on how much reward the cardholder can earn on promotional purchases or quarterly benefits programs. The cardholder must read the fine print of the card’s terms and conditions to make the most of their reward program.
Not everyone qualifies for a cashback card since the card comes with specific requirements. The eligibility criteria vary from bank to bank. The applicants must ensure that they meet the eligibility requirements of the card they want to apply for. It will reduce the chances the application being rejected and affecting the credit ratings.
To apply for a cashback card, the applicant can visit the nearest branch of the preferred bank and submit the application form via the offline channel. Apart from that, the applicant can log on to the bank's website and apply securely. Some banks come up with a limited period offer like waiver or discount on the charges for the applicants applying online.
The applicants can seek expert’s advice on the matter pertaining to credit card application and eligibility. Policybazaar.ae can help the applicants get through the entire process and offer the best guidance on getting the best cashback credit card in UAE.
Cash Back Credit cards have gained popularity in recent times. Banks are building a strong consumer base for credit cards in UAE. The benefits offered by these credit cards vary from bank to bank. Listed below are some of the most popular credit cards in UAE.
The FAB Cashback credit card is one of the most popular and rewarding credit card in the category of cashback credit cards in the UAE. The card come with a wide array of lucrative benefits and reward schemes that is one of the reasons behind its popularity amongst users in the UAE. Soon after the card was launched in the UAE market it’s usage has grown exponentially. With the FAB Cashback credit card in place you can earn cashback on every transaction that qualifies for a cashback scheme.
Key Features and Benefits of FAB Cashback Credit Card:
The Emirates Islamic Cashback Plus Credit Card is one of the best cash back credit cards offered by the Emirates Islamic Bank. Not only this credit card offers a high rate of cash back but also it is loaded with a plenty of lucrative features & benefits that help its card members to make the most of their each spending.
Features & Benefits of Emirates Islamic Cashback Plus Credit Card:
Following are some of the key features and benefits of the Emirates Islamic Cashback Plus Credit Card:
The Citi cashback card enables the cardholders to save more on every purchase. Citi cash back credit cardholders can earn up to 5 % cash back on their daily purchases.
An applicant can apply for if he/she is earning a minimum salary of AED 8000. The card does not charge any annual fees for the first year. From the second year onwards, the card is free unless the cardholder hasn’t met the minimum annual spend of AED 9,000.
Features of Citi Cashback Credit Card:
1. Deem Titanium Cash Up Credit Card: The Deem Titanium Cash Up Credit Card enables its card members to save more on their every transaction since it offers guaranteed Cash Up. They can use it for cash back on their statement to buy online gift vouchers and to pay for purchases. In addition to this, it offers exclusive travel and lifestyle benefits.
An applicant can apply for this credit card if he/she is earning a minimum monthly salary of AED 5000. The card does not charge an annual membership fee for the first year.
Features & Benefits of Deem Titanium Cash Up Credit Card:
2. Deem Platinum Cash Up Credit Card: The Deem Platinum Cash Up Credit Card is one of the best cash back credit cards available in the UAE since it offers the highest cash back earning rate. This way, cardholders can save more on every transaction. Other than that, it is loaded with several amazing lifestyle and travel benefits.
An applicant can apply for this credit card if he/she is earning a minimum monthly salary of AED 10,000.
Features & Benefits of Deem Platinum Cash Up Credit Card:
Card members can avail up to 15% off on Avis car rentals across the globe.
CBD offers CBD privileges with the new CBD Super Saver Credit Card. As the name itself suggests, it is one of the best cashback credit cards in UAE.
Features of CBD Super Saver Credit Card:
In order to come across the best cashback credit card in the UAE. Here are some points that applicants ought to consider:
Given these aforementioned factors, it can be quite tricky to determine whether a card would add more value to the wallet of the applicant or not. However, opting for the process of elimination is the key come across the best plan. Comparing credit cards on the basis of the four factors mentioned above can help an applicant to find out which cards suits him the best. By wholeheartedly focusing on the perks that matter the most, the applicants will be able to trim down the list and come across the best card.
Policybazaar.ae is not only a leading service provider of all the things related to finance but also offers the online solutions that help make financial decisions easy and hassle-free. Policybazaar.ae gives substantial consideration to customer’s queries and demands pertaining to the credit cards, insurance and other financial products. When it comes to zeroing in on the best cash back credit cards, Policybazaar.ae provide a thorough analysis and an extensive comparison on the basis of benefits, prices, merits and demerits across various categories. Bridging the gap between the customer’s need and the provider’s supply, Policybazaar.ae makes the entire process as easy as possible. Moreover, it ensures that all queries are addressed properly when the applicant asks for it.