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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.
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.
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.
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.
Listed below are the eligibility criteria for 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.
|Particulars||Fee & 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%|
|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|
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.
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:
|Category of Spend||SmartMiles|
|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.
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:
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:
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:
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:
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.
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.
Q1: Can anyone apply for Emirates Islamic Business Credit Card?
Ans: 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.
Q2: Do Emirates Islamic Business Credit Card members get supplementary cards?
Ans: 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.
Q3: How many supplementary credit cards can be issued to a business?
Ans: Businesses that have Emirates Islamic Business Credit Card can request for unlimited supplementary cards.
Q4: Is there an annual fee for Emirates Islamic Business Credit Card?
Ans: No. There is no annual membership fee for Emirates Islamic Business Credit Card. It is a free for life credit card.
Q5: Is Emirates Islamic Business Credit Card Shari'a compliant?
Ans: 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.
Q6: Can supplementary card members activate and block their respective supplementary cards?
Ans: No, only the authorized signatory on the card account can initiate a request for the activation, cancellation or blocking of a supplementary credit card.
Q7: Does every card member, including the supplementary card members, get the SMS alert for transaction on card(s)?
Ans: No. SMS alert for transactions on card is only sent to the registered number of the key authorized person.
Q8: How to redeem EI SmartMiles earned on the Emirates Islamic Business Card?
Ans: 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.
Q9: Do EI SmartMiles accrued on Emirates Islamic Business Card expire?
Ans: EI SmartMiles expire in two years from the day earned.
Q10: For Emirates Islamic Business Credit Card issued to a company, who bears the liability?
Ans: For Business Credit Card issued to a company, the company/authorized signatory bears all the liability.