Emirates Islamic Business Credit Card   

With more and more startups coming to the fore every day, UAE's startup ecosystem is set to become more buoyant in 2019 and beyond. In fact, a news report by Al Bawaba predicts that 2019 will continue to witness even bigger funding rounds and better startups in 2019 and beyond.

But here’s a hard and bleak truth: for every new startups that make billions, there are countless others that are forced to shut down their operations. Research suggests that the number one cause for startup failure is lack of credit funding. And credit card companies in the UAE seem to have understood this fact. That’s why a large number of credit card companies in the UAE offer business credit cards, especially designed to meet the needs and wants of businesses or corporates.

It is difficult not to talk about Emirates Islamic Business Credit Card when talking about some of the best credit cards in the UAE region. With high levels of convenience, maximum security, and utmost flexibility, Emirates Islamic Business Credit Card helps businesses in the UAE control their expenses and maximize the value for their money.

Besides providing businesses with much needed credit line, this amazing business credit card also helps simplify administration and accounting on regular business expenses. With so much and more on offer for the businesses in the UAE, it’s no wonder why this business credit card from UAE’s leading financial institution, Emirates Islamic has become so popular amongst start-ups, small businesses and established corporations in the UAE.

About Emirates Islamic Business Credit Card

Introduced by UAE’s leading financial institution - Emirates Islamic, Emirates Islamic Business Credit Card is an elite class of credit cards that has revolutionized the way business based credit cards are designed and marketed in the UAE region. This amazing business card ensures supreme benefits, outstanding features and complete convenience to help businesses make the maximum value for their money.

In fact, Emirates Islamic Business Credit Card has been carefully conceptualised and tailor-made to suit the needs and wants of all sorts of businesses, from new-age startups to well-established corporations. The card aims at helping the cardholders manage their business efficiently, without having to run from pillar to post for raising that much-needed credit. And that’s not all, card users get to earn rewards and benefits for every dirham spent on the card and have access to instant rewards redemption. Emirates Islamic Business Credit Card packs in something for every business owner, right from free flights to retail benefits.

With its rather stupefying range of path-breaking features and remunerative rewards, Emirates Islamic Business Credit Card has consistently remained the top choice for businesses operating out of the UAE region.

Powered by Emirates Islamic much-acclaimed EI SmartMiles programme, Emirates Islamic Business Credit Card allows business owners to use the card for all type of travel, lifestyle and shopping expenses and earn EI SmartMiles on every dirham spent. It’s easy to exchange or instantly redeem these EI SmartMiles for a wide range of benefits including flights, hotels, retail transactions and much more.

With so much and more on offer for card members, it comes as no surprise that business owners in the UAE region are often to be seen making rounds of Emirates Islamic branches to get their hands on this amazing credit card that packs in everything a business needs to survive and thrive.

Please note that this card is offered only to commercial banking customers having finance facility with Emirates Islamic Bank.

Features of Emirates Islamic Business Credit Card

Over the years of its launch, Emirates Islamic Business Credit Card has become a name to reckon with in the UAE’s business world. And the impressive line-up of ground-breaking features that add to the overall popularity of this amazing credit card for businesses. Though there is a long list of features, let’s just look at some of the most notable features of this credit card.

  • Multiple supplementary cards
  • Global acceptance
  • Unlimited complimentary lounge access
  • Cash-On-Call facility
  • Easy payment plans
  • Balance transfer facility
  • Chip & PIN technology
  • 3D secure feature
  • Medical and Legal Referral
  • Multi-trip Travel Insurance
  • Purchase Protection Insurance
  • Extended Warranty
  • Global Concierge
  • 24 hour customer service facility
  • Fully Shari'a compliant

Benefits of Emirates Islamic Business Credit Card

Packed with nonpareil benefits, Emirates Islamic Business Credit Card offers immense purchasing power and immense financial flexibility to the businesses. Exclusive travel benefits, lucrative retail rewards and amazing lifestyle advantages, Emirates Islamic Business Credit Card has everything on offer to leave card holders sheer spoilt for choices. And that’s not all: the benefits and rewards offered by this brilliant credit card product are instantly redeemable. Let’s check out a list of some of the many impressive benefits of Emirates Islamic Business Credit Card that make it place it amongst the bestselling credit cards in the UAE.

  • Automatic EI SmartMiles enrolment
  • EI SmartMiles per 1AED for international and domestic spends
  • Instant EI SmartMiles redemption
  • Miles exchange option
  • Complimentary, unlimited access to over 750 airport lounges worldwide
  • Unlimited shopping at EI’s online market place
  • Free valet parking
  • Exclusive deals through Kaligo business plus
  • Exclusive deals at 900 hotels worldwide
  • VISA commercial offers
  • VISA fine dining offers
  • Business dining and travel discounts from Mazaya Offers
  • Free for life

Eligibility

Listed below are the eligibility criteria for Emirates Islamic Business Credit Card:

  • Income Eligibility: AED 20,000 and above (Minimum monthly income)
  • Residential Eligibility -UAE residents with valid UAE residence Visa
  • Verification Eligibility - Age/Id Proofs

Top Reasons to Get Emirates Islamic Business Credit Card

Emirates Islamic Business Credit Card offers an extensive range of benefits and rewards. It is exclusively conceptualized and thoughtfully designed to ensure that UAE’s business community enjoys better security and control with utmost convenience and flexibility. Automatic enrolment to EI SmartMiles, instant rewards redemption, exclusive hotel deals, and amazing travel deals, Emirates Islamic Business Credit Card comes packed with multiple lures. Here are top 5 reasons that make having Emirates Islamic Business Credit Card such an exclusive privilege amongst UAE’s business community.

  • Free for Life - Emirates Islamic Business Credit Card comes with no annual membership fee and is provided absolutely free for life to the eligible business owners in the UAE region. With no annual membership fee, this card can help businesses and business owners manage the cash flow effectively by spending on the card without having to worry about a certain limit of expenses to get the yearly membership fee waived off.
  • Exclusivity - Exclusivity is perhaps the most important excuse for any business owners in the UAE to get the much-coveted Emirates Islamic Business Credit Card. This brilliant business credit card has been exclusively designed to suit the needs and wants of the business community in the UAE. Engineered with the futuristic Chip & PIN technology, Emirates Islamic Business Credit Card provides businesses in the UAE with a secure and nifty alternative to cash and cheques for day-to-day business transactions.
  • EI SmartMiles - Emirates Islamic Business Credit Card offers an automatic enrolment to the region’s best loyalty programme, the EI SmartMiles. This award-winning loyalty programme provides card members with an instant and flexible reward redemption option. Both primary and supplementary card members can earn EI SmartMiles for every dirham spent on the card. These EI SmartMiles may later be redeemed for free flights, hotel bookings, instant online purchases and much more. And it’s easy to instantly redeem the EI Smartmiles via the official website of the EI SmartMiles or its official mobile app. Here it is important to remember that Only the authorized signatory can redeem EI SmartMiles via the EI Smartmiles portal.
  • Complimentary Lounge Access - This is yet another reason that often compels corporate jetsetters or companies with frequent flyers get the much sought-after Emirates Islamic Business Credit Card. This card provides card members with a direct access to more than 750 premium airport lounges worldwide. Card members can enjoy unlimited complimentary access and impeccable hospitality at the participating lounges by simply presenting their Emirates Islamic Business Credit Card.
  • Additional Privileges - Emirates Islamic Business Credit Card leaves no stones unturned to pamper its corporate customers with a staggering line-up of exclusive benefits. Card members get access to special, exclusive travel deals from Kaligo business plus. Moreover, card members also get direct access to ‘Best Available Rates Guarantee’ at over 900 luxurious hotels worldwide. And that’s not all: Card members also get to enjoy exclusive commercial offers and fine dining deals from VISA. In addition to these exclusive delights, Emirates Islamic Business Credit Card get to enjoy a wide range of exclusive card features specially designed to suit their needs and wants such as complimentary multi-trip travel insurance plan, purchase protection insurance plan, medical and legal referral, extended warranty and 24/7 Global Concierge services.

Emirates Islamic Business Credit Card Offers (Updated in June 2018)

  • Exclusive Kaligo Business Plus deals (No Promo Code Required)
  • DragonPass Dine & Fly Offer (No Promo Code Required)
  • Up to 12% off at Agoda.com (No Promo Code Required)
  • Up to 8% off at Hotels.com (Promo Code: VISA8)
  • $25 USD food or beverage credit (VISA Luxury Hotels Offer) (No Promo Code Required)
  • 30% discount for business dining (No Promo Code Required)
  • Exclusive business travel deals from Mazaya Offers (No Promo Code Required)

Fees and Charges

 

Annual Membership Fee

Free for life

Cash Advance Fee

3% of cash advance amount or minimum AED 199

Maximum cash advance per transaction       

10,000

Over limit fee

AED 249 (This will be revised to 279 effective April 01, 2019)

Late payment fee

AED 225

Card replacement fee

Free (This will be revised to 50 effective April 01, 2019)

Copy of sale voucher

AED 50

Overseas transaction in UAE Dirhams           

1.99%

Forex Charges  

2.34%

Minimum Payment Due

5% of statement balance PLUS any overdue amount, or AED 100, whichever is higher

No Liability Certificate

AED 50

Liability Letter

AED 50

Paper statement fee

10 (No Charge for Priority customers)

Cheque & Direct Debit Return     

AED 100

E statement

Free

 

Emirates Islamic Business Credit Card Rewards

1. EI SmartMiles - Emirates Islamic Business Credit Card provides card members with direct access to EI SmartMiles programmem without having to spend through their nose. This innovative and flexible credit card rewards programme ensures rewarding experience for the Flex Elite Credit Card members by giving them access to matchless travel, lifestyle, and shopping benefits. With EI SmartMiles, these benefits and rewards are up for instant redemption.

For every 1 AED spend on international and domestic spend, Emirates Islamic Business Credit Card get to earn 3.75 and 2.5 EI SmartMiles, respectively. These EI SmartMiles can easily be redeemed for a wide range of options including the travel, shopping and lifestyle categories.

In addition, card members who are members of Etihad Guest and/or JetPrivilege may also exchange the EI SmartMiles for exclusive privileges, special discounts and a host of other special deals with Eithad Airways and Jet Airways. In addition, Emirati Islamic Flex Credit Card members are rewarded with 75000 EI SmartMiles as welcome bonus.

2. Mazaya Rewards - Emirates Islamic Business Credit Card is also linked with Mazaya Offers Platform that allows card members to earn exclusive travel, shopping and dining discounts with Mazaya. Card members can get up to 30% discounts at more than 2000 restaurants throughout the UAE, and special shopping discounts at partner outlets across the UAE.

3. Unlimited Golf Access- Emirati Islamic Flex Credit Card members also get to earn unlimited complimentary golf access at Arabian Ranches Golf Club and Track Meydan Golf Club on weekdays as well as weekends. In addition, the card members also get exclusive discounts on up to 10% off the ‘Best Available Rates’ on all days.

How to Earn Rewards?

1. EI Smart Miles - It is easy for Emirates Islamic Business Credit Card members to earn and redeem their EI SmartMiles for a staggering line of benefits across travel, shopping and lifestyle categories. Card members get to earn EI SmartMiles for every dirham spent using the Emirates Islamic Business Credit Card and these EI SmartMiles can be instantly redeemed at EI SmartMiles mobile app or website, without having to worry about blackout dates.

Here is the EI SmartMiles earning rate for Emirates Islamic Business Credit Card holders:

 

Joining bonus

75,000 EI SmartMiles

International spend

3.75 EI SmartMiles (1 AED)

Domestic spend

2.5 EI SmartMiles (1 AED)

 

2. Mazaya Rewards - It is easy to earn Maazaya rewards and offers for Emirates Islamic Business Credit Card members. All one needs to do is to present the card when dining, travelling or shopping across the UAE.

How to Redeem Your Points?

Redeeming EI SmartMiles is simple and easy for Emirates Islamic Business Credit Card members. The EI SmartMiles accumulated by card members can be instantly redeemed for multiple rewards, benefits and privileges.

Here’s how card members can redeem their EI SmartMiles:

1. EI SmartMiles Mobile App - EI SmartMiles App is an innovative mobile app that makes redemption of EI SmartMiles a rather simple process for Emirates Islamic Business Credit Card members. This easy-to-navigate and user-friendly mobile app helps card members redeem their EI SmartMiles for free flights, hotel stays, miles exchange, and for transacting with retail websites and outlets from around the world, instantly in just a few seconds and even on-the-go.

Here’s how Emirates Islamic Business Credit Card members use EI SmartMiles app to redeem miles:

  • Install EI SmartMiles App from Apple App Store or Google Play Store.
  • Click on 'Activate'.
  • Enter Loyalty ID number available on the flip side of the card.
  • Enter date of birth and full name.
  • Create username and password and sign up for EI SmartMiles account.

After following these easy steps, Emirates Islamic Business Credit Card users can easily start redeeming their miles through the EI SmartMiles app.

2. Miles Exchange - In addition to redeeming EI SmartMiles for benefits and rewards, Emirates Islamic Business Credit Card members can also exchange their miles for exclusive privileges and travel benefits with Etihad Airways and Jet Airways. For this card members need to be active members of Etihad Guest and/or JetPrivilege.

Illustrated below is the evaluation of EI SmartMiles for Miles Exchange with JetPrivilege  and Etihad Guest Frequent Flyer Programmes:

 

10,000 EI SmartMiles

2,500 Etihad Miles

20,000 EI SmartMiles

4,000 JetPrivilege Miles

 

Here’s the step-by-step guide to exchanging miles:

  • Visit www.eismartmiles.ae
  • Click on 'Miles exchange'
  • Select Miles exchange option
  • Choose from 'Etihad Guest' and JetPrivilege
  • Enter Etihad Guest or JP membership number
  • Choose the quantity of EI SmartMiles for Miles Exchange
  • Click on submit button

It typically takes 5 working days for the Miles Exchange process to be completed. 

3. Free Travel - Emirates Islamic Business Credit Card users can also instantly redeem their EI SmartMiles for free travel and other matchless travel benefits. EI SmartMiles can be redeemed to book free flights with over 300 airlines or to book hotel stays at over 180000 luxurious properties worldwide. These EI SmartMiles may also be used to avail car rental and airport transfer services.

4. Instant Purchase - Instant Purchase is an innovative feature that makes EI SmartMiles such a popular credit card rewards programme in the entire UAE region. With Instant Purchase feature, Emirates Islamic Business Credit Card users can instantly purchase items of their choice from a retail outlet or a shopping website from anywhere in the world.

Here’s how Instant Purchase feature works:

  1. Card members activate the Instant Purchase feature on their card.
  2. They use their Emirates Islamic Business Credit Card to purchase items of their choice from a retail outlet of website of their choice.
  3. After 5 days, EI SmartMiles, equivalent to the amount of purchase, is deducted from the account and a statement credit is posted to the card account.
  4. Online Marketplace - Emirati Islamic Flex Elite Credit Card members can also visit the official online marketplace hosted by EI SmartMiles and redeem their miles for purchasing items of their choice, right from haute couture to sophisticated electronics. Those want to indulge in retail therapy at one of the plush malls in the UAE may redeem their EI SmartMiles for e-vouchers and shop at one of the many malls in the UAE using the e-voucher.

Additional Information / Documentation

To apply for Emirati Islamic Flex Elite Credit Card, all one needs to do is fill the online form and provide the documents listed below:

  • Passport Copy
  • Emirates ID
  • Salary Certificate
  • 3 month bank statement

How to Apply For Emirates Islamic Business Credit Card?

Applying for a business credit card in the UAE is fairly simple task, provided one is well prepared in advance. To make sure that the credit card request is not rejected, it makes sense to get acquainted to a few important things and be prepared in advance.

Here’s a step-by-step guide to applying for business credit cards in the UAE for the uninitiated applicants. So without further ado, let’s explore these easy steps.

1. Discover the Credit Score - The first step to qualify for a business credit card in the UAE is ensuring that the applicant’s credit score is good. Remember, applying for a credit card may just take a minute or two, but applying without having a sound knowledge of the credit score may lead the application into rejection.

Emirates Islamic carefully analyses the credit score of the applicant to decide whether the applicant qualifies for a business card or not. In addition, EI also looks up for the company’s revenue, industry and monthly expenses to qualify a business credit card application. Business owners with excellent credit score may easily qualify for the EI business credit card that comes with rewards worth thousands.

2. Determine the Eligibility - The second step is to determine if the applicant is actually eligible for the EI business credit card. Emirates Islamic Bank stipulates a certain rules around the application of its much-coveted business credit card. Presently, the company only issues business credit card to its Commercial Banking customers who have ensured a finance facility with Emirates Islamic Bank.

3. Compare the Card - Before applying for Emirates Islamic Business Credit Card, applicants must do well to carefully compare the card with other business cards in the category to see this card fits their business needs or not. Applicants must carefully compare the card for three main things: features, benefits and annual fee. Just comparing different business credit cards in the UAE for these three things can help you save a few thousand dirhams for your business annually.

4. Gather Documents - When applying for a business credit card, applicants must stay prepared with all the basic information and vital documents pertaining to their business beforehand. Here’s a list of information and documents, applicants may be asked to produce to qualify for Emirates Islamic Business Credit Card.

Basic Information Required

  • Name of the applicant
  • Business Name
  • Mailing address
  • Legal entity or type of business
  • Annual business revenue
  • Years in business
  • Monthly business expenses
  • Personal income information
  • Whether the applicant has an existing Working Capital Facility with EI Bank or not.

Documents Required

  • Cash flow statement
  • Passport Copy
  • Emirates ID
  • 3 month bank statement
  • EIB customer id
  • Copy of business license

Please be advised that the above mentioned list of information and documents is not final and binding and Emirates Islamic Bank may or may not ask for certain information or documents from an applicant.

5. How to Apply - The final step is to apply for the card. In order to do so, applicants may visit the official website of Emirates Islamic and apply for the card directly. However, it may take days to get the application reviewed. This is where UAE’s leading credit card marketplace, Policybazaar.ae comes into picture. Applicants may easily apply for major business credit cards after comparing the cards for their features, fees and benefits through the portal. The entire process typically takes a few clicks and few minutes to be completed.

FAQ's

Question 1: Can anyone apply for Emirates Islamic Business Credit Card?

Answer: Though anyone may apply for Emirates Islamic Business Credit Card, only those who are Commercial Banking customers of Emirates Islamic Bank and have a finance facility with the bank are being issued the card presently.

Question 2: Do Emirates Islamic Business Credit Card members get supplementary cards?

Answer: Yes! Supplementary business credit cards may be issued to partners or employees of the organization upon request from the authorized signatory on behalf of the company.

Question 3: How many supplementary credit cards can be issued to a business?

Answer: Businesses that have Emirates Islamic Business Credit Card can request for unlimited supplementary cards.

Question 4: Is there an annual fee for Emirates Islamic Business Credit Card?

Answer: No. There is no annual membership fee for Emirates Islamic Business Credit Card. It is a free for life credit card.

Question 5: Is Emirates Islamic Business Credit Card Shari'a compliant?

Answer: Yes! Emirates Islamic Flex Credit Card is fully Shari'a compliant. There are no interest charges. However, there is fixed monthly fees for the various features and benefits provided on the card.

Question 6: Can supplementary card members activate and block their respective supplementary cards?

Answer: No, only the authorized signatory on the card account can initiate a request for the activation, cancellation or blocking of a supplementary credit card. 

Question 7: Does every card member, including the supplementary card members, get the SMS alert for transaction on card(s)?

Answer: No. SMS alert for transactions on card is only sent to the registered number of the key authorized person.

Question 8: How to redeem EI SmartMiles earned on the Emirates Islamic Business Card?

Answer: In order to redeem the EI SmartMiles accrued on the card, authorized signatory on card needs to visit the EI Smartmiles portal and process a request for redemption.

Question 9: Do EI SmartMiles accrued on Emirates Islamic Business Card expire?

Answer: EI SmartMiles expire in two years from the day earned.

Question 10: For Emirates Islamic Business Credit Card issued to a company, who bears the liability?

Answer: For Business Credit Card issued to a company, the company/authorized signatory bears all the liability.