Mashreq Business Credit Cards in UAE

By Ruchi Gohri
  | Published: 28 October 2021

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Established in the year 1967, Mashreq Bank is one of the leading financial institutions in the UAE. Within a span of 50 years, the bank has developed a strong customer base and serves over a million individuals and businesses around the world. Owing to its innovative products and services, Euromoney ranked Mashreq Bank as the Best Digital Bank in the UAE and the Middle East. Mashreq Bank comes with numerous financial products and services, catering to the needs of individuals, businesses, large corporates, and government organisations. Among services and products, the bank offers personal bank accounts, business and corporate banking accounts, investment banking, deposit schemes and loan and credit services. 

To offer SMEs and corporates quick and short-term loans, the bank comes with a suite of business credit cards. Mashreq Business credit cards are designed to fulfil the financial requirements by offering the desired financial control, savings and various employees benefits. Additionally, the bank has made it convenient to acquire a business credit card with several application channels and lenient eligibility criteria. Go through the article below to know more about Mashreq Business credit cards. 

Mashreq Business Credit Card

Free for Life
  • Minimum Salary AED 5,000
  • Annual Fee AED 0
  • Free for Life
  • Supplimentry Credit Card
  • Cashback
  • Exclusive dining discounts
  • Travel related discounts
  • Balance Transfer
  • Complimentary Travel Insurance
  • Complimentary Insurance Benefits

Features of Mashreq Business Credit Cards

Along with benefits suiting your business requirements, Mashreq Business credit card offers impeccable features for your financial management, tracking payments and offering an insight into your cash flow. The following are the features of Mashreq Business/Corporate credit cards.   

  • Free for Life Credit Card - The business credit cards come without any annual membership fees, meaning you don’t need to pay the yearly fee for using the credit card. 
  • Interest-Free Days - Interest-free days are the period in which the bank does not levy any interest on the outstanding balance. If you repay the Mashreq credit card bills in full within the due date, you won’t have to pay any extra charges. Mashreq Bank offers a long interest-free period of up to 51 days; thus, supplementing your finances and working capital requirements. 
  • B2B and B2G Payment Facility - The bank offers excellent payment facilities for government bills and transactions across various businesses through POS, online transactions, mobile applications and Mashreq online and mobile banking facilities. 
  • Repayment Convenience - For credit card bill repayments, the bank offers multiple channels and billing cycles. You can choose the billing cycle according to your needs and pay within the due date. Additionally, you can repay 100% of your credit card bills using the auto-debit instructions. It automatically transfers the billing amount to your card account and saves your time and effort. 
  • Expense Control and Monitoring - Mashreq Bank provides secure transactions and complete expense monitoring through SMS alerts and updated authorisation systems for payments across the globe. All the secondary cards are centrally controlled, and you can restrict an employee’s card usage.
  • Credit Card Insurance Coverage - With the Mashreq Business credit card, you get security against fraudulent card use by an employee. In case an employee misuses the credit card, the bank waives a liability of up to USD 25,000 per employee and a total of USD 1,600,000 per company. 
  • Virtual Credit Cards - Mashreq Bank offers complete security and reliability through virtual credit cards. As the name suggests, the virtual card has no physical existence; however, you get credentials to access the cards and make payments. With virtual cards, you can conveniently monitor, review and approve transactions anywhere and anytime. Additionally, no physical existence omits the chance of loss and credit card theft. 
  • Convenient Online Banking Access - To monitor your business credit card transactions in real time, you can log in to your credit card account using Mashreq Online. Track, monitor and limit the expenses with a few simple clicks.

Benefits of Mashreq Business Credit Card

Designed considering the businesses and the corporate financial requirements, Mashreq business cards offer numerous benefits. With this credit card, the business owners get excellent financial management, updated product offerings and a dedicated service model. The following are the key benefits of Mashreq Business credit cards. 

  • With a Mashreq corporate credit card, you get complete corporate payment solutions for your business-related payments and better oversight of your expenses and transactions. 
  • You get a free for life corporate credit card from Mashreq Bank with low finance charges and interest-free days of up to 51 days. 
  • Mashreq business credit card provides you with better financial control, fulfilling your saving goals, and comes with numerous employment benefits.  
  • Among corporate cards, you get options of purchase and travel credit cards, and you can opt for one depending on your requirements. 
  • The purchase cards facilitate all kinds of payments related to business to business or business to government transactions. 
  • Mashreq Corporate credit card has wide acceptance across various government organisations and businesses in the UAE, making your payments convenient and hassle-free. 
  • With MasterCard’s SDG2 platform, you get a detailed data recording of all business transactions. 
  • The bank offers you the flexibility to choose between the physical and the virtual credit card. Virtual credit cards are innovative tools to secure your real-time transactions and provide comprehensive financial control and monitoring. 
  • The bank provides liability waiver insurance of up to $25,000 per employee in case of credit card misuse and a maximum of $1.6 million per company. 
  • With the Mashreq Business credit cards, you get an SMS alert on the Central Payment Card account each time the card reaches 80% of the company’s credit limit.  
  • The bank offers multiple payment cycles for flexibility to repay according to your convenience. 
  • For card repayments, you can pay up to 100% credit card bills through auto-debit instructions.  

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Employee’s Benefits of Mashreq Business/Corporate Credit Cards

Following are the benefits of using Mashreq business credit cards for the employees. 

  • Complimentary Access to Airport lounges - With the Mashreq corporate/business credit card, the cardholders get unlimited access to over 500 premium airport lounges across the globe via LoungeKey. Additionally, they can access the Marhaba Airport Lounge in the MENA region without any charges.
  • Travel Insurance - The business credit card from Mashreq Bank offers travel insurance for the cardholder that includes travel inconvenience, accidents, emergency medical cover, trip cancellation, and baggage losses. 
  • Fraud Protection - If the employee loses the credit card or a fraudulent transaction is recorded, the bank secures the company for up to USD 2,000 per instance and up to USD 4,000 within a year. 
  • Email Statement - For proper card monitoring, the bank sends monthly card statements to the employees’ registered email addresses and a consolidated card statement to the program administrator. 
  • Other Benefits - Apart from the above benefits, the business credit card offers access to various business lounges, travel offers and discounts, and Priceless Arabia offers. 

Types of Mashreq Business/Corporate Credit Cards

Mashreq Bank offers two corporate credit cards, namely the corporate purchase card and the corporate travel & entertainment card. Following are the benefits and features of Mashreq Business/corporate credit cards.  

Type of Mashreq Corporate Credit Card

Features and Benefits

Mashreq Corporate Purchase Credit Card

  • The purchase credit card is free for life, meaning you won’t need to pay an annual membership fee for using the credit card. 
  • You get an interest-free period of up to 51 days. If you repay your bills in full, no additional charges are levied on your card. 
  • Pay 100% of your credit card bills using an auto-debit facility without any hassle. 
  • Get corporate liability waiver insurance of up to $ 25,000 per employee and a maximum of $ 1,600,000 per company. 
  • You can avail of complete card security using Mashreq virtual credit cards. 
  • The bank offers a wide acceptance for B2B and B2G payments. 
  • A comprehensive reporting tool from MasterCard for easy expense monitoring. 
  • You get access to the full suite of online banking through Mashreq Online. 
  • With the corporate credit card, you can access up to 36 months of data for custom and standard reports. 
  • The card comes with various benefits to the employees. 

Mashreq Corporate Travel and Entertainment Credit Card

  • The travel and entertainment credit card is free for life, meaning you won’t need to pay an annual membership fee for using the credit card.
  • The cardholder gets an interest-free period of up to 51 days. If the repayment of the bills is done in full, no additional charges are levied on your card.
  • Pay 100% of your credit card bills using an auto-debit facility without any hassle.
  • As a business owner, you get corporate liability waiver insurance of up to $ 25,000 per employee and a maximum of $ 1,600,000 per company. 
  • A comprehensive reporting tool from MasterCard for easy expense monitoring. 
  • You get access to the full suite of online banking through Mashreq Online. 
  •  
  • For the employees, the card offers various travel and entertainment benefits such as free airport lounge access and unlimited access to Marhaba airport lounges across the MENA region. 
  • The cardholder also gets travel inconvenience insurance, emergency medical expenses cover during trips, and coverage for baggage loss and trip cancellations. 

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Eligibility Criteria to Apply for the Mashreq Business/Corporate Credit Card

In order to acquire the Mashreq Business credit cards, the company owners need to satisfy a few eligibility criteria. The bank lays down these criteria to check your financial status and ensure timely repayments of the credit card bills. Following are the basic eligibility criteria for Mashreq Business credit cards.   

  • The company owners and the business partners should have a decent credit score. The bank sets a threshold score below which it doesn’t provide the corporate credit card. 
  • The company needs to have a good track record and financial performance.
  • To apply for the Mashreq Business credit card, the company needs to be registered in the UAE, and the business owners should have a valid UAE visa (for expats).
  • The company needs to have a valid trade license issued by the Department of Economic Development. 

Documents Required for Mashreq Business/Corporate Credit Card

To apply for a credit card, the business owners need to provide proof of their identity, address and business operations. An applicant needs to submit the following documents while applying for a credit card. 

  • A valid passport of the business owner and the partners
  • A valid Emirates ID of the owners and the partners (if the owner is a UAE National/Resident)
  • Trade License from the Department of Economic Development
  • Documents related to business and its operation
  • Address proof of the corporate office
  • Details of company incorporation
  • Record of the company’s financial performance
  • Last 12 months bank account statements

Note - The bank may ask for additional documents for record and verification at its discretion.    

How to Apply for Mashreq Business/Corporate Credit Card?

Being the best digital bank in the UAE, Mashreq bank offers several channels to apply for a business credit card. An applicant may visit the bank in person and consult the representative for account opening. To save time and effort, they can also apply for a business credit card online. You may choose any of the following ways to apply for the Mashreq Credit Card.

  • Online Mode - To apply online, the applicants can visit the Mashreq Bank official website, navigate to the business credit card section. Later, they need to select the type of business credit card and enter their contact and personal information. After successful verification, the bank dispatches the credit card to your address. You can acquire a virtual credit card soon after applying. You can also follow the same process to apply using the Mashreq Mobile application. 
  • Offline Mode - The applicants can visit a local Mashreq bank branch with all the required documents. Subsequently, they need to fill a business credit card application form and submit it to the bank after attaching all the required documents. Once the documents are verified, the bank dispatches the business card to your registered address. 

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Charges & Fees on Mashreq Business/Corporate Credit Cards 

Following are the schedule of charges and fees on Mashreq corporate credit cards. 

Types of Charges

Amount in AED

Annual Fee

Free For Life

Card Replacement Fee

AED 78.8

Late Payment Fee

AED 241.5

Retail Interest Rates

3.45% of the outstanding amount

Cash Advance Interest Rate

3.75% will be applicable on the card if the option is available on the credit card

Cash Advance Charges

3.15% of the cash advance amount or AED 210 (whichever is greater)

Credit Card Payment at Mashreq Branch

AED 26.25

International Credit Card Delivery

AED 210

Other Bank's That Provide the Business Credit Card in UAE

Business Credit Card in UAE
ADIB Business Credit Card in UAE
UAB Business Credit Card in UAE
RAKBANK Business Credit Card in UAE

FAQ's on Mashreq Business Credit Card

Q1. Is there an annual maintenance fee on the Mashreq Business credit card?

Ans. No, the bank doesn’t charge an annual membership fee on business or corporate credit cards in the UAE. 

Q2. What is the retail finance charge on the Mashreq Corporate credit card?

Ans. The bank levies a retail charge of 3.45% per month on corporate credit cards.

Q3. Can I withdraw cash from ATMs using the Mashreq business/corporate credit cards?

Ans. Yes, the employees can withdraw cash from the ATMs using corporate and business credit cards. However, the bank charges a cash advance fee of AED 210 or 3.15% depending on the amount of cash.

Q4. What is the interest-free period for Mashreq business/corporate credit cards?

Ans. The bank offers an interest-free period of up to 51 days on the business credit card.

Q5. What travel benefits do I get by using the corporate travel and entertainment credit card?

Ans. An employee cardholder gets complimentary access to over 500 premium airport lounges across 300 cities via LoungeKey. They also get travel accident and inconvenience insurance for comprehensive trip protection.

Q6. Does Mashreq Business Credit Card come with Fraud Protection?

Ans. Yes, the Mashreq Business credit card comes with corporate liability waiver insurance and fraud protection to secure against unauthorised transactions.

Q7. Can I control my credit card expenses online?

Ans. Yes, Mashreq Bank offers a full suite of online banking to control your business card payments and transactions. You can monitor each and every transaction, withdrawal and payment made using the Mashreq Online services.

Q8. Do I get a free credit card statement using the Mashreq credit card?

Ans. All the business cards users receive monthly credit card statements on their registered e-mail ID. The central payment credit card receives SMS alerts each time the company’s credit exhausts up to 80% of the total credit limit.

Ruchi Gohri
Ruchi Gohri

Senior Content Writer | She has a penchant for writing and with over 5 years of experience, she plays around with words elegantly, crafting simple content for all to read. In her free time, she loves her couch either to read or catch on to her sleep.