Mashreq SmartSaver Credit Card

Mashreq Bank is one of the leading financial institutions in the UAE that offers a wide range of credit cards to meet its customer’s diversified needs. Among all credit cards, Mashreq SmartSaver Credit Card comes on the top list.

Not only this credit card offers top of the line benefits to its cardholder but also it provides unlimited cash back on all international and domestic spends with no minimum spend thresholds. In short, it enables the card member to make the maximum value of their hard-earned money with cashback on every dirham spent on the card.

Features of Mashreq SmartSaver Credit Card

Mashreq SmartSaver Credit Card comes with a wide range of innovative and ground-breaking features to help its card members make the most of their card. Let’s take a look at some of the outstanding features of Mashreq SmartSaver Credit Card:

Mashreq Merchant Solutions

Being the largest card acceptance service providers across the UAE, Mashreq Merchant Payment Solutions offers a huge variety of secured tailored card payment solutions. From supporting SME merchants & large department stores to large conglomerates, restaurants, home delivery solutions, it provides a perfect solution to give its customer’s business the competitive edge. With the innovative Mashreq merchant solutions, you can expand your dream business by providing easy to pay online facility for your clients and customers. In today’s era the market for digital payments is growing substantially therefore it becomes crucial for you as a business owner to add in this facility.

Balance Transfer Facility

Members of this card can clear their other bank’s credit card balance with Mashreq SmartSaver Credit Card at an attractive interest rate. They can easily make repayments in fixed monthly instalments with a maximum tenor of 36 months. Moreover, they can transfer as high as 75% of their available credit card limit. Now, with the balance transfer facility you can transfer your outstanding financial obligations to your Mashreq Credit card which can be later paid easily at lower rates of interest. However, an important point to be kept in consideration here is that cardholder will have to pay a balance transfer fee to the financial institution while transferring their existing debts to the new credit card.

Easy Payment Plan (EPP)

This credit card comes with a facility of easy payment plan that enables the cardholder to convert their huge purchases into equated monthly instalments (EMIs) at participating vendors. And then, members of this card can repay it later at 0 percent interest rate.

Credit Shield 

Credit Shield is an ultimate feature of this card. It simply helps its cardholders to enjoy a waiver of the outstanding amount on their card in case of some unfortunate situations such as of permanent disability, Loss of Employment, & death of the cardholder. Also, they will be entitled to avail a cash benefit in an event of hospitalization. This feature is quite similar to insurance plans that takes care of your family’s need and outstanding debts in case of any unfortunate event leading to demise or disability of the policyholder.

Pay Protect

Pay Protect is one of the unique features of this Mashreq credit card that pays off card dues in the unfortunate event of the death of the cardholder or if he/she is diagnosed with a critical illness. Also, it provides a cash benefit to the nominee(s) of the cardholder in order to meet their several financial needs.

Easy Cash

This facility is mainly designed for the times when the member of this credit card requires funds on an urgent basis. During such times, they can avail this easy cash facility without any paperwork. With this feature, they can enjoy the following benefits:

  • Attractive rate of interest
  • Flexible repayment plan of a maximum of 36 months
  • Loan amount as high as 75 percent of the available credit limit on phone call.

Wallet Protect

It offers simple and comprehensive global insurance against identity theft & loss or theft of a wallet. Enjoy unparalleled travelling experience with the wallet protect feature of Mashreq SmartSaver Credit card that gives you freedom and protects you against unforeseen events.

Smart Protect

The Smart Protect feature of this credit card provides coverage of:

  • AED 100,000 for accidental death
  • AED 50,000 for death due to sickness
  • AED 1,000 monthly for a maximum period of 3 months for involuntary loss of job
  • AED 200 per person per day for a maximum period of 30 days as Hospital Cash Benefit
  • AED 500 per incident for ATM Assault globally
  • AED 2500 per incident for fraudulent charges

Convenience Cash

Members of this credit card can avail extra cash beyond their Mashreq SmartSaver Credit card limit and get it transferred to their Mashreq Account or any other bank account within the United Arab Emirates. Then, they can make the repayment through equated monthly instalments at attractive rate of interest. In order to enjoy this benefit, no documentation for income is needed.  

Revolving Balance Transfer

This is a high time for members of this credit card to stop paying a maximum of 39 percent per annum on their outstanding dues with other credit cards. They can easily transfer their other bank’s credit card dues to this card at 0 percent interest rate for six months.

Benefits of Mashreq SmartSaver Credit Card

Mashreq SmartSaver Credit Card is packed with an extensive range of benefits to ensure maximum value for every dirham spent. Here’s a list of some of the key benefits of this credit card:

Free for Life

It is a free for life credit card since it charges zero annual membership fees for lifetime.

Free Travel Insurance

This card offers free travel insurance to its cardholders that cover the cost of trip cancellation; medical emergencies, baggage lost, and offer several other benefits to help them to enjoy their vacation to the fullest.

Fees and Charges of Mashreq SmartSaver Credit Card

Here are the fees & charges associated with the Mashreq SmartSaver Credit Card:

Fees and Charges Values

Annual Membership Fee

Nil

Retail interest rate per month

3.45%

Cash Advance rate per month

3.75%

Cash Advance fee

3.15% or AED 210, whichever is greater

Over limit fee

AED 292.95

Late payment fee

AED 241.5

Card replacement fee

AED 78.8

Paper statement fee

AED 5.25

Returned cheque charge

AED 315

Credit shield fee (Optional)

0.93% of outstanding charges

Mashreq SmartSaver Credit Card Rewards & Offers

Cash Back Rewards

Mashreq SmartSaver Credit Card offers unlimited cash back rewards to provide maximum value for money to the cardholders. Card members can earn 1 percent guaranteed cash back for every dirham spent internationally and 0.5 percent guaranteed cash back for every dirham spent locally. There is no minimum threshold for earning cash back rewards and card members can start earning cash back by even spending AED 1.

The cash back amount is valid on all spends including utility & government categories but it excludes Mashreq online banking payments & cash transactions.

Bonus Cash back rewards

This Mashreq credit card also provides card members with bonus cash back a maximum of 8 percent at over 450 outlets across 50 top brands in everyday spend categories such as jewellery, home furnishings, retail & fashion, supermarkets, auto rentals, health & wellness, and other categories.

My Mashreq Offers

With this card, the cardholder can avail a wide range of discounted offers and privileges across various categories such as travel, shopping, entertainment, lifestyle, etc.

How to Apply For Mashreq SmartSaver Credit Card?

It is easy to apply for the free-for-life Mashreq SmartSaver Credit Card. Interested applicants can apply for the card either online or offline.

Online

Interested individuals can apply for this Mashreq credit card at the official website of Mashreq Bank by filling up their personal information in the online application form.

Offline

Alternatively, applicants can also apply for this card by visiting the nearby branch of the bank.

FAQs on Mashreq SmartSaver Credit Card

Q1: Is there an annual fee for the Mashreq SmartSaver Credit Card?

Ans: No. There is zero annual membership fee charged for Mashreq SmartSaver Credit Card and the card comes absolutely free-for-life for both primary and supplementary card holders.

Q2: Is there any minimum spend to start earning Cashback?

Ans: No. There is no minimum threshold for earning cash back on the Mashreq SmartSaver Credit Card. This means card members can earn cash back for every dirham spent on the card.

Q3: Is cash back awarded for every transaction made on the Mashreq SmartSaver Credit Card?

Ans: Card members can earn cash back for all retail spends put on the card. However, there are a few spends that are not qualified for cash back. These expenses include:

  • Balance transfers
  • Cash Advance
  • Credit Card Cheques
  • Finance Charges
  • Reversed transactions
  • Utility bill payments made through Mashreq Bank

Q4: When does cash back get credited to the account?

Ans: Cashback is added to the credit card account as cash point at the statement date.

Q5: Can cashback be redeemed for something other than cash point?

Ans: No. Cashback cannot be redeemed for anything other than cash point added to the credit card account.

Q6: How to redeem cashback?

Ans: Cashback can be redeemed in 2 different ways. These are:

  1. By calling up Mashreq Call Center at 04-4244444 and placing a redemption request.
  2. By online redemption through official website of Mashreq.

Please note: Cash back can only be redeemed once card members accrue AED 100 in the account.

Q7: Does cashback ever expire?

Ans: Yes, if not redeemed within 18 months of the issuance date, cash back earned expires. If the card member has not redeemed or earned any cash back in last 12 months, then all the cash back gets forfeited.

Q8: Can the cashback earned be applied directly towards the outstanding balance of the Credit Card?

Ans: Yes! Cashback earned on the card can be applied directly towards the outstanding balance of the card. 

Q9: Can the cashback earned be applied towards the minimum payment due on the Credit Card?

Ans: No! Cash back earned on the card cannot be applied directly towards the minimum payment due on the card and card holders need to make the minimum payment due.

Q10: How the members of this card can check the cash back balance?

Ans: Well, the cash back balance can be checked in the monthly credit card statement.

Q11: Is cashback cancelled when the card is cancelled?

Ans: Any remaining cashback that has not been redeemed before the cancellation of the credit card is forfeited upon the cancellation of the card.

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