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RAKBANK in partnership with India-based Kalyan Jewellers, provides a new co-branded credit card that offers goldback to the cardholders on all purchases done both internationally and locally. The loyalty points earned on this RAKBANK credit card can be redeemed in the form of jewellery at any of the 9 outlets of Kalyan Jewellers in the UAE.
This RAK credit card offers a variety of benefits to the cardholders. Some of these are as follows:
The applicants must have a minimum income of 5,000 AED per month in order to be eligible for buying this RAKBANK Credit Card.
This RAK credit card offers a plethora of benefits and offers to the cardholders which makes it a good choice for the applicants. Following are the reasons why to choose RAKBANK Kalyan Jewellers Credit Card:
RAKBANK Kalyan Jewellers Credit Card charges very low fees and interests from its cardholders. The fees and charges are as follows:
Fees | Amount |
---|---|
Annual Fees | NA |
Annual Fees on Supplementary Cards | NA |
Retail Transaction Fee (monthly) | 3.45 percent |
Balance Transfer (monthly) | 1.50 percent |
Credit Card Cheques (monthly) | 2.25 percent |
Cash Advances (monthly) | 3.45 percent |
Smart Cash (monthly) | 2 percent |
Cash Advance Charge | 3% or 99 AED (whichever is higher) |
Card Replacement Charge | 75 AED |
Over-limit Charge | 275 AED |
Late Payment Charge | 230 AED |
Duplicate Statement Charge | 45 AED (per statement) |
Returned Cheque Charge | 100 AED |
Sales Voucher Copy Charge | 65 AED |
International Courier Fees | 100 AED |
Credit Card Cheque Processing Charge | 1%, minimum AED 50 and maximum AED 250 |
Smart Cash Processing Charge | 100 AED |
Processing Fee for EPP with participating merchants | 3 months- 49 AED6 months- 49 AED9 months- 1.5%12 months- 2% |
Cancellation Fee | 249 AED |
International Transaction Charge for Purchase | In non-AED currency: 2% on the transaction amountIn AED currency: 2.5% on transaction amount |
Credit Shield Insurance | 0.99 percent |
Payment through Exchange House Charge | 3 AED (each transaction) |
International Remittance Charge | 75 AED |
(These charges will be applicable w.e.f. 27-02-2019)
This RAK credit card offers Goldback as reward points to the cardholders on all their spending. The rewards offered by this credit card are-
Monthly Spend Categories | Non-Kalyan Jewellers Goldback(International Spends) | Additional Goldback(Kalyan Jewellers India) |
---|---|---|
Up to 14,999.99 AED | 3 percent | 2 percent |
15,000-29,999.99 AED | 4 percent | 2 percent |
30,000 AED and above | 5 percent | 2 percent |
Monthly Spends (Minimum) | NA | NA |
Monthly Goldback (Maximum) | 2000 AED | NA |
The cardholders can also earn Goldback up to 5% on cash advances outside UAE and online transactions.
Monthly Spend Categories | Non-Kalyan Jewellers Goldback(International Spends) | Additional Goldback(Kalyan Jewellers India) |
---|---|---|
Up to 14,999.99 AED | 1 percent | 1.5 percent |
15,000-29,999.99 AED | 2 percent | 1.5 percent |
30,000 AED and above | 3 percent | 1.5 percent |
Monthly Spends (Minimum) | NA | NA |
Monthly Goldback (Maximum) | 1200 AED | NA |
The applicants who seek to obtain RAKBANK Kalyan Jewellers Credit Card can apply online or through call or by visiting any of our branches.
The cardholders can access a variety of benefits and offers using the ‘MasterCard For You’ app on their smartphones. This app helps them to know how they can utilize their cards to its optimum potential. After registering on the app, they simply need to choose the kind of MasterCard they have and begin exploring the various benefits offered to them.
This app can be used to redeem offers, claim insurance covers and access benefits. Use this MasterCard For You app for exploring the following:
The cardholders can download this app from the App Store and Google Play Store.
Q1: Does the Goldback earned expire?
Ans: Yes. The Goldback you have earned is valid for a time of 15 months starting from the date of accrual.
Q2: On which transactions will I earn Goldback on my RAKBANK Kalyan Jewellers Credit Card?
Ans: You can earn Goldback on all POS retail transactions, international cash advance, and online transactions done using this RAKBANK credit card. You can also earn Goldback on purchases done from the Kalyan Jewellers showroom in India and the UAE using the RAKBANK Kalyan Jewellers Credit Card.
Q3: Who can I contact for inquiring about the Goldback earned?
Ans: You can send an SMS on *2737* in the format of ‘KAL <Loyalty Number>’. This loyalty number is a nine digit number that is printed on your credit card. You will also receive a monthly statement in detail on your registered e-mail ID regarding the Goldback redeemed, accrued and adjusted (if any).
Q4: How much time will it take for the Goldback earned on my RAKBANK credit card to be added to my Goldback balance?
Ans: The Goldback earned on your credit card will take 2 working days to be added to your Goldback balance.
Q5: 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 card owners, but the reward points earned 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.
Q6: 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.
Q7: What is a Late Payment Fee?
Ans: The credit card providers 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 company 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 Kalyan Jewellers Credit Card is AED 230.
Q8: 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.
Q9: What is Credit Shield Insurance?
Ans: Credit Shield Insurance is a protection benefit which gives coverage for the outstanding balance of your credit card. In case you are not able to meet your credit card dues because of unfortunate circumstances such as critical illness, involuntary loss of employment or even death, this insurance ensures that you and your family are not burdened unnecessarily.
This RAK Credit Card charges 0.99% for Credit Shield Insurance.
Q10: 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.