Cash Back Credit Cards
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.
Cash Back Credit Cards and Merchant Payments
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.
Features and Benefits of Cash Back Credit Cards
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.
- Returns - The return rate on a cash back credit card is probably the most important aspect for any individual. Many cash back credit cards provide a minimum return of 1% that means the cardholder earns a UAE Dirham for every 100 Dirham spent. But some cards offer better offer rates if the cardholders make any transaction at pre-listed retail stores.
- Enhanced Rewards for Certain Categories - Best cash back card in UAE offer a better rate of return for some product categories. For example, some banks offer enhanced returns for spending more at the grocery and drug store. The reward can be as high as up to four times additional cash back.
- No Fee Options - The best cash back credit cards in the UAE don’t charge any annual fees. While some banks charge an annual fee on cash back credit card in UAE, these cards offer a higher percentage of cash back.
- Bonuses - Typically, banks offer sign up bonus the moment an accountholder signs up for a credit card. Apart from that, cash-back credit cards offer a higher return on retail spending for specific time duration or a waiver of the annual fee for the first year.
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.
Cash Back Credit Cards Eligibility
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.
How to Apply for the Best Cash Back Credit Card in the UAE?
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.
Top UAE Banks with Cash Back Credit Card
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:
- As a customer of FAB bank, cardholders get a welcome bonus in the form of AED 300 cashback that allows them to earn bonus cashback on first retail transaction in the first month after the issuance.
- Earn 5% cashback on all supermarket purchases including online expenditure using the FAB Cashback credit card
- Get 5% cashback on utility bill payments and fuel purchases
- Cardholders can earn 1% cashback on all retail transactions including online shopping
- Get 2% cashback on foreign spends using the FAB Cashback credit cards
- Additional 10% cashback can be earned throughout the year at select global online stores using the FAB Cashback credit card through Shopsmart.ae
- Enjoy 20% discount on all careem rides
- Cardholders get to enjoy exclusive offers with AVIS car rental
- Enjoy 15% discount on stays at luxury serviced apartments using FAB Cashback credit card
- With the FAB Cashback credit card enjoy complimentary airport lounge access at more than 10+ airport lounges all across the UAE.
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 cardholder can earn a maximum of 10% cash back on education, supermarket, dining, and telecom spends capped at AED 200/per category on a monthly basis
- This card comes with a built-in RTA NoI chip that entitles its cardholders to use this card for various payments on the RTA transit network
- It offers the facility of auto top-up for salik as well as NoI accounts
- The card is embedded with a chip that provides its cardholders access to Gold Glass cabin on the Dubai metro
- This card offers unlimited access to more than 1000 airport lounges globally
- It offers multi-trip travel insurance
- The cardholder can enjoy 2 rounds of free golf per month any day of the week
- The facility of balance transfer can be availed at 0% profit rate
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:
- The cardholders can get unlimited cashback on all purchases.
- For international expenses, the cardholders can get 3% cashback.
- For spending on grocery, the cardholders can get 2% cashback.
- There is no minimum spend limit applicable on the
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:
- For supermarket & grocery stores spends, the cardholder can avail a maximum of 3% accelerated Cash Up.
- For utilities spends and on government services, the cardholder can avail a maximum of 3% accelerated Cash Up.
- The cardholder can earn a 3% accelerated Cash Up on fuel purchases at gas stations.
- The card member can earn 0.5% accelerated Cash Up on all other retail transactions.
- Members can enjoy exciting offers & deals on dining, entertainment experiences, amusement parks, and tourist attractions, and more with the Deem Offers App.
- The cardholder can enjoy access to over 10 airport lounges throughout the Middle East & the Levant.
- Being a member of this card, one can enjoy over 900 offers across more than 90 destinations & over 600 merchants with the MasterCard Buy 1 Get 1 App.
- The cardholder can enjoy a 20% discount on three Careem rides each month.
- Members can avail a maximum of 15% off on Avis car rentals throughout the world.
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:
- The cardholder can earn a maximum of 10% accelerated Cash Up on department stores spends.
- The card member can earn a maximum of 5% accelerated Cash Up on online shopping spends.
- Members of this card can earn a maximum of 5% accelerated Cash Up on entertainment spends.
- Cardholders can earn 1% cash up on all other retail transactions.
- This is free for life credit card.
- It offers valet parking facility on a complimentary basis.
- The card member can get access to over 25 airport lounges throughout the Middle East & the Levant.
- Cardholders can enjoy exciting deals and offers on dining, entertainment experiences, and tourist attractions, and more with the Deem Offers App.
- Card members can enjoy complimentary two-year premium MYUS membership.
- It offers 20% off on three Careem rides each month.
- The cardholder can enjoy a maximum of 30% off on Cleartrip.
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:
- It offers 10 % cashback on the following categories for everyday retail spent. It comes with a cap of AED 200 each category on a monthly basis, when the cardholder spends AED 1500 outside these categories:
- Bills ( e.g. telecom bills, government-linked payment, and utility bills)
- Schools, colleges and universities across the UAE and abroad
- Grocery stores and supermarket
- Fuel for transport
- It offers 1 % cashback for every AED 2 spent, without any cap.
- It offers free Valtrans valet parking twice a month at over 15 locations.
- It offers 50 % discount on movie tickets at VOX cinema across the UAE.
- For new customers, no annual fee is charged for the first year.
How to Find the Best Cashback Credit Card In UAE?
In order to come across the best cashback credit card in the UAE. Here are some points that applicants ought to consider:
- The Rate of Earning: The amount of cashback a cardholder earns speaks volume about the type of card he/she opts for. The offer rate of earning can be consistent across all spends, or the best rates can be applicable on certain purchases. The applicants must ensure they evaluate the exact rate of earning before zeroing down on a particular card.
- Easy Redemption: There is a bit of variation in all cash-back cards when it comes to evaluating the cash in hands or bank account. Some cards transfer rewards automatically get credited to the account, while others offer the card points/miles that can be availed for cashback redemption. The cardholder ought to go through the terms and conditions of the card in order to make the most of the offers.
- Add-on Perks: There are also some additional perks offered on the card which might in the form of a waiver of foreign transaction fees. Such benefits add significant value to a card.
- Yearly Fee: An important aspect to consider is the annual A majority of the credit cards do not come with an annual fee, but there are a few credit cards that do. It is essential to factor in the applicable yearly fee (if any) before finalizing a card.
How to Find the Best Cash-Back Credit Cards in UAE?
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.
Why You Should Choose Policybazaar.ae?
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.
- ADCB Credit Cards
- ADIB Credit Cards
- Ajman Bank Credit Cards
- American Express Credit Cards
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- CBI Credit Cards
- Citibank Credit Cards
- Commercial Bank of Dubai Credit Cards
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- 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
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