Mashreq Balance Transfer Card in UAE

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  | Published: 06 September 2021 | Last Updated On: 13 September 2021

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Founded in 1967, Mashreq Bank is one of the oldest banks in the UAE. With its rich banking history and customer-oriented products, it is one of the fastest emerging banks in the Middle East. Mashreq bank’s innovative and bespoke products have fetched it several rewards and recognition, including the ‘Most Innovative Bank in the Middle East’ award by Euromoney in 2020. Among various products, Mashreq offers personal and commercial banking solutions including loan and credit services. For short-term credits, the bank offers Mashreq credit cards which come with numerous benefits and offers for the customers. 

Mashreq Bank credit cards are easy to avail of with lenient criteria and affordable fees and are completely secure. For efficient financial management, the bank offers Mashreq balance transfer credit cards that allow easy repayment of bigger dues in convenient installments and at lower interest rates. This helps in minimising your worry of debt payments and maximising your shopping experiences. In addition, the credit card offers several rewards, cashback, lifestyle, and travel benefits.

Best Mashreq Balance Transfer Credit Cards in UAE

Mashreq Solitaire Credit Card

Mashreq Solitaire Credit Card
Balance Transfer
  • Minimum Salary AED 25,000
  • Annual Fee AED 1,500
  • Balance Transfer
  • Free for 1st year
  • Airport Lounge Access
  • Valet Parking
  • Golf Benefits
Reward Value: AED 25,406

Features & Benefits of Mashreq Solitaire Credit Card

  • Individuals can avail of balance transfer up to 75% of the credit limit with a maximum tenure of 36 months. 
  • The repayments can be made in fixed monthly installments. 
  • Earn up to 6 Salaam points per AED on each international spending. 
  • Earn 4 Salaam points on airline bookings and 2 Salaam points for every local spend. 
  • Avail of free access to Fitness First. 
  • Get complimentary airport lounge access at over 900 airports worldwide for both primary and secondary cardholders. 
  • Avail of 1 complimentary car registration (renewal) and 2 complimentary services. 
  • Get multi-trip travel insurance for up to 90 days.

Mashreq Platinum Elite Credit Card

Mashreq Platinum Elite Credit Card
Balance Transfer
  • Minimum Salary AED 7,000
  • Annual Fee AED 650
  • Cash Back
  • Balance Transfer
  • Airport Lounge Access
Reward Value: AED 1000

Features & Benefits of Mashreq Platinum Elite Credit Card

  • The cardholders can avail balance transfer of up to 75% of their credit limits with a flexible repayment period of up to 36 months. 
  • The repayment can be easily made in fixed monthly installments. 
  • Enjoy 8 complimentary visits to Fitness First per month.
  • Earn 5 Salaam points on every AED spend internationally and 1 point per AED on local spend.
  • Earn 3 Salaam points per AED on dining and supermarket purchases. 
  • Avail of 4 half-priced movie tickets at Vox, Reels and Novo cinemas across UAE. 
  • Avail of free airport transfers from Dubai and Abu Dhabi airports.

Mashreq Cashback Credit Card

Mashreq Bank Cashback Card
Balance Transfer
  • Minimum Salary AED 7000
  • Annual Fee Free for life
  • Balance Transfer
  • Cashback
  • Free for life
  • Dining Discounts
Reward Value: AED 3,360

Features & Benefits of Mashreq Cashback Credit Card

  • Using the balance transfer facility, an individual can transfer up to 75% of his credit limit on another credit card.
  • Conveniently pay off the balance amount in fixed monthly installments for a tenure of up to 36 months. 
  • Earn cashback on each expenditure including 5% cashback on dining in UAE, 2% on international spend, and 1% on all local spend.
  • Enjoy 20% cashback for the first 6 months on Zomato, Netflix, etc.
  • Enjoy access to Dragonfly and Dine program. 
  • Avail of exclusive Visa Mena offers via the Entertainer app. 
  • Get 2 for 1 deal on dining, entertainment, and shopping including a PLUS 5,000 travel discount.  

Mashreq Noon VIP Credit Card 

Mashreq Noon VIP Credit Card
Balance Transfer
  • Minimum Salary AED 7,000
  • Annual Fee AED 0
  • Balance Transfer
  • Cashback
  • Free for Life
  • Access to Free noon VIP Membership
Reward Value: NA

Features & Benefits of Mashreq Noon VIP Credit Card 

  • Cardholders can avail of the balance transfer facility of up to 75% of the credit limit. 
  • Convenient repayment period with fixed monthly installments for a tenure of up to 36 months. 
  • New customers can enjoy a joining bonus of AED 500 while existing customers get AED 100 as bonus cashback on Noon VIP credit card. 
  • Get an instant ready-to-shop digital credit card.
  • Free next-day delivery on all Noon express orders across UAE. 
  • Enjoy up to 3.5% accelerated cashback on all Noon purchases and 1% cashback on all other purchases.  

Features of Mashreq Balance Transfer Credit Cards

Along with numerous benefits, the Mashreq balance transfer credit cards also come with exciting features that include low annual membership fees, lenient income criteria and distinct reward programs. Following are the important features of Mashreq balance transfer credit cards. 

  • Annual Membership Charges - Mashreq bank credit cards include an annual membership fee depending on the credit card type. Additionally, the bank offers several free for life credit cards that do not include any annual membership fees. Individuals should consider the charges while selecting the credit card according to their financial needs. The annual fee for the balance transfer credit cards can go up to AED 1575. 
  • Income Requirement - Mashreq credit cards have a compulsory salary requirement depending on credit card type. Individuals applying for a particular credit card needs to fulfil the salary criteria. The salary defines the credit limit and how easily they can clear their debts. The income requirements for balance transfer credit cards range anywhere between AED 7,000 to 25,000, depending on the card type. 
  • Convenient Balance Transfer Facility - With the balance transfer facility, individuals can transfer their debts from Mashreq credit cards to another card (issued in UAE) and avail themselves of a longer repayment tenure at lower interest rates. The bank allows fixed installment repayment with a maximum tenure of 36 months. In addition, they can book balance transfers easily through a phone call. 
  • Complimentary Airport Lounge Access - Mashreq credit cards also provide free access to over 1000 airport lounges worldwide. Individuals just need to show their credit cards at the lounge reception desk. 
  • Easy Payment Plans - Get a convenient payment option of buy now and pay later. Individuals can also pay the dues in easy monthly installments (EMIs) for large transactions done using the card. 
  • Cashback and Reward Programs - Mashreq bank credit cardholders get exclusive access to numerous cashback and rewards for each spending done using the credit card. They can later redeem those rewards to avail offers and discounts. 

Benefits of Mashreq Balance Transfer Credit Cards

Mashreq credit cards come with a host of benefits, rewards, and offers. The balance transfer facility is only one in the long list of advantages. Given below are the key benefits of Mashreq credit cards in the UAE. 

  • Individuals can transfer up to 75% of the credit limit to a different credit card. 
  • The cardholders do not require income documentation to apply for credit card balance transfers. 
  • They can avail of attractive interest rates with fixed installments for a maximum tenure of 36 months. 
  • They can avail of early settlement with a nominal fee of AED 100. 
  • Customers also enjoy easy payment plans with buy now and pay later options. 
  • Avail of complimentary access to over 1000 airport lounges worldwide. 
  • Get access to exclusive deals and offers with Visa credit cards. 
  • Cardholders get numerous travel benefits and offers, including discounts on flight bookings and hotel stays. 
  • Customers can avail a variety of lifestyle, dining and entertainment benefits on Mashreq credit cards. 

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List of Mashreq Balance Transfer Credit Cards with Salary Requirement

Given below is the list of top Mashreq credit cards with balance transfer facilities. 

Mashreq Bank Credit Card

Salary Requirement

Mashreq Solitaire Credit Card

  • Minimum salary requirement of AED 25,000

Mashreq Platinum Elite Credit Card

  • Minimum salary requirement of AED 7,000 

Mashreq Cashback Credit Card

  • Minimum salary requirement of AED 7,000

Mashreq Noon VIP Credit Card 

  • N/A

Eligibility Criteria for Mashreq Balance Transfer Credit Cards

Each credit card has its distinct eligibility requirements. However, a few criteria are common for all credit cards. To apply for a Mashreq credit card, an individual needs to fulfil the following eligibility criteria. 

  • An individual must be 21 years of age or more. 
  • He/She must fulfil the minimum eligibility requirement for a preferred card. 
  • He/She should be a UAE national or resident. 

Documents Required for Mashreq Balance Transfer Credit Cards 

Once you are eligible for a Mashreq bank credit card, you need to gather the required documents and submit them to the bank during the application process. Following are the documents required - 

  • Emirates ID (Original and a copy) for UAE nationals and residents
  • A valid passport (original and a copy) for non-residents with work permit and visa details. 
  • Latest income certificate/slip or employment contract (from the current employer).
  • Latest bank statement (as asked by the bank).

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How to Apply for a Mashreq Balance Transfer Credit Card?

Being one of the best digital banks in UAE, Mashreq bank has a completely paperless, quick and secure credit card application process. However, individuals can choose both online and offline channels to apply for a balance transfer credit card. 

  • Online Application - To apply online, individuals need to visit the Mashreq bank’s official website, select the credit card type and hit apply now button. Later, fill in the details and upload the requisite documents. They can also apply for a credit card using Mashreq mobile application following the same procedure. 
  • Offline Application - Individuals will have to visit the nearest Mashreq bank’s branch with all the necessary documents and fill the credit card application form. To locate the nearest branch, use the Mashreq mobile application or visit the official website. 

Fees and Charges on Mashreq Balance Transfer Credit Cards

Below is the list of fees and charges on various Mashreq credit cards offering balance transfer facilities. 

Mashreq Credit Card Annual Fee

Mashreq Solitaire Credit Card

AED 1575

Mashreq Platinum Elite Credit Card

AED 682.5

Mashreq Cashback Credit Card

Free for Life

Mashreq Noon VIP Credit Card 

Free for Life

Other Fees and Charges

Balance Transfer Interest Rate (per month)

As communicated at point of sale

Balance Transfer Process Fee

As communicated at point of sale

Balance Transfer Cancellation/Early Settlement Fee

AED 100 + 5% VAT

Retail Interest Rate (per month)

Up to 3.69% per month

Cash Advance Interest Rate

3.75% per month

Cash Advance Fee

3.15% or AED 210 (whichever is higher)

Foreign Transaction Fee

2.79%

Terms & conditions for Mashreq Balance Transfer Credit Cards

Following are the important terms and conditions for using the balance transfer facility on Mashreq bank credit card. 

  • Individuals will have to make the repayment in fixed, equal installments. 
  • The bank will charge the balance transfer amount, processing fee, and the interest amount for the installment period on the cardholder’s account, reducing the credit limit. 
  • The processing fee may be a flat amount or a percentage of the total balance transfer amount. It will be specified at the point of sale or mentioned on Mashreq bank’s website. 
  • The bank will not credit loyalty points including rewards and cashback on any balance transfer transactions. 
  • The bank is not liable for any charges on the other bank credit card due to delay or decline of balance transfer request by Mashreq bank. 
  • The bank has complete authority to accept or decline the balance transfer request. 
  • Extension of zero percent interest on balance transfer is at the sole discretion of the bank. 
  • The balance transfer will be terminated and added to the existing credit card outstanding balance upon non-payment of three or more installments. 

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FAQ's on Mashreq Balance Transfer Credit Cards in  UAE

How can I avail of the balance transfer facility on Mashreq credit cards?

Individuals can avail of the balance transfer facility through online and mobile banking, or by calling the bank’s customer support.

Do I need to pay the processing fee for using balance transfer facility on Mashreq credit cards?

Yes, individuals need to pay a nominal processing fee as communicated at the point of sale.

Can I apply for early settlement on the balance transfer amount?

Yes, you are free to apply for early settlement. However, you need to pay a processing fee of AED 100 in such cases. The charges will be levied on the cardholder’s account and will not be waived off.

Do I need to repay a fixed monthly instalment against the balance transfer amount?

Yes, the cardholder needs to pay a fixed monthly installment depending on the balance transfer amount and the repayment tenure.

How much amount can I transfer to another credit card?

Using the balance transfer facility, individuals can transfer 75% amount of the credit limit to another credit card.