Best credit cards with 0 Annual fee*
This RAKBANK credit card is a co-branded credit card between the RAKBANK and FuCom Group that owns the supermarket chains of Le Marche and Géant hypermarkets in the GCC. It offers the amazing RAKBANK credit card benefits and privileges along with discounts and rewards at Le Marche and Géant. The card is also loaded with the points program by La Carte through which they can earn rewards and later redeem them for gift vouchers by Géant.
Listed below are some benefits and features of this RAKBANK Credit Card.
Listed below are some rewards and offers on this RAKBANK Credit Card.
Dining Benefits: This credit card offers the cardholder exclusive dining discount of up to thirty percent at around 2000 restaurants and outlets throughout the UAE with the help of RAKfoodie.
|Category||Amount||Le Carte Points|
|Purchases at Le Marche and Géant hypermarkets in the GCC||10 AED||2|
|Purchases at any other outlet throughout UAE and globally||10 AED||1|
Listed below are fees & charges on this RAKBANK Credit Card.
|Fees and Charges||Amount|
|Annual Fees on Supplementary Cards||Nil|
|Retail Transaction Charge (per month)||3.45 percent|
|Balance Transfer (per month)||1.50 percent|
|Cheques on Credit Card (per month)||2.25 percent|
|Cash Transaction Charge (per month)||3.45 percent|
|Smart Cash (per month)||2 percent|
|Fees on Cash Advance||3% or 99 AED (whichever is higher)|
|Fees on Card Replacement||75 AED|
|Over-limit Charges||275 AED|
|Late Payment Charges||230 AED|
|Duplicate Statement Charges||45 AED (per statement)|
|Returned Cheque Charges||100 AED|
|Sales Voucher Copy Charges||65 AED|
|Fees on International Courier||100 AED|
|Processing Charge on Credit Card Cheque||1%, minimum AED 50 and maximum AED 250|
|Processing Charge on Smart Cash||100 AED|
|Processing Fee for EPP||3 months- 49 AED6 months- 49 AED9 months- 1.5%12 months- 2%|
|Cancellation or Early Settlement Charge for BT/SC/AII/CCC EPP Plans||249 AED|
|International Transaction Charges for Purchases||In non-AED currency: 2% on the transaction amountIn AED currency: 2.5% on transaction amount|
|Credit Shield||0.99 percent|
|Payment through Exchange House Charges||3 AED (each transaction)|
|International Remittance Charges||75 AED|
|International Remittance Enquiry Charges||50 AED|
For RAKBANK Credit Card Application, the applicant requires the following documents-
Q1: What are supplementary cards?
Ans: Supplementary cards or add-on cards are credit cards that are offered to the family members of the primary cardholder. Supplementary credit cards work in the same way as a primary credit card. They are even eligible for the same benefits offered to the primary cardholders, but the reward points earned (if any) through the supplementary cards are credited to the primary member’s card account.
Customers can get supplementary RAKBANK credit cards without any charges. The supplementary cards hold the same credit limit as that of the primary card. Spending limits can be set on the supplementary cards by the primary cardholder.
Q2: What is a Cash Advance?
Ans: Cash Advance is the cash withdrawal made from any branch or an ATM using a credit card. It is a general suggestion to keep the withdrawals as minimum as possible because credit cards charge high interest rates on cash advances. Beginning from the date of withdrawal, a cash advance fee is levied on cash withdrawals along with an interest charged on the withdrawn amount.
RAK credit cards incur a cash advance fee starting from 3.45% of the transaction amount per month.
Q3: What is a Late Payment Fee?
Ans: The credit card company offer the facility of making payment using the card. The cardholders need to pay their credit bill before the due date. In case they are unable to do so, the credit card provider charges a late payment fee. Late fees can negatively affect the credit history of the cardholder. The sure-fire way to avoid late fees is by making all the payments on time.
Late payment fees charged by the RAKBANK My Ras Al Khaimah Platinum Credit Card is AED 230.
Q4: What is a credit card balance transfer?
Ans: When you transfer the amount available in one credit card account to another credit card account, it is referred to as a balance transfer. In case of some credit cards, you may have to pay a fee to avail the facility of the balance transfer.
This RAKBANK Credit Card charges 1.50% on balance transfers.
Q5: What is 0% Instalment Payment Plan?
Ans: As per 0% Instalment Payment Plan, you can easily convert your credit card purchases made at selected or partner merchants to monthly installments at no interest.