Rakbank My Ras Al Khaimah Visa Platinum Credit Card

Rakbank My Ras Al Khaimah Visa Platinum Credit Card

About My Ras Al Khaimah Visa Platinum Credit Card

RAK bank offers a free for life My Ras Al Khaimah Visa Platinum Credit Card which gives the cardholders an advantage of great benefits, savings and more. This RAK Bank Credit Card offers them RAKrewards on all their spendings. They can also enjoy privileges and discounts on shopping, traveling, entertainment and more. Some of the benefits this card includes are balance transfers at a low cost, an interest-free period for up to 55 days, easy payment plan and more. 

Features of My Ras Al Khaimah Visa Platinum Credit Card

  • No Annual Fee: This RAK Bank credit card does not charge an annual fee, that is, this credit card is free for life.
  • Finance Charges: This RAK credit card offers low finance charges of 3.45% on cash advance and retail transactions.
  • Supplementary Card: The Ras Al Khaimah Visa Platinum Credit Card also provides supplementary cards free of cost.
  • Interest Free Credit: This Rak Bank Credit Card benefits its member with an interest-free credit for up to 55 days.
  • Cash Advance: The cardholders can avail a cash advance of up to 80% of their credit limit.
  • Minimum Payment: It is necessary to make minimum payments on the credit card, otherwise, a late payment fee is levied on the cardholder. This RAK Bank credit card offers a low minimum payment of just 3% monthly.
  • Money Transfer: The cardholders can use RAK Money Transfer service to send money through digital banking from wherever they are. They can also send money from any branch of the bank. The money can be sent to India, Philippines, Pakistan, Sri Lanka, Europe, Nepal and many other parts of the world using RAK Money Transfer.
  • Credit Card Bills: The cardholders can pay their credit card bills at any RAK bank EDM or ATM. The bill can also be paid at one of these exchange houses- Redha Al Ansari Exchange, UAE Exchange, Al Ansari Exchange, Al Fardan Exchange, Sharaf Exchange or Lulu Exchange.

Benefits of My Ras Al Khaimah Visa Platinum Credit Card

This RAK credit card offers a variety of benefits to the cardholders. Some of these are as follows:

1. Movie Benefits

  • My Ras Al Khaimah Visa Platinum credit card offers a 50% off on movie tickets at Vox Cinemas. The cardholder can use the card to avail this Rak Bank Credit Card movie offer online through the Vox cinemas official website and select the Visa offer. They can buy at most 4 tickets on discount per transaction, and a total of 10 tickets in a month. Apart from this, the cardholders can also earn 50 RAKrewards on payment of AED 1 at movies only when their retail spend is at least AED 5000 per month.

2. Travel Benefits

  • The cardholders can save up to 12% on Hotel Bookings using Agoda. Visit the official website of Agoda to avail the offer
  • The card members receive a specialist airport meet and greet service in partnership with YQ at 450+ destinations throughout the world at a discount of up to 15% on retail rates.
  • This RAK Bank credit card offers unparalleled benefits on booking of trips with Visa Luxury Hotel Collection.
  • The cardholders can avail a discount of up to 10% on international leisure rates and 20% on standard rates with Avis Car Rental.
  • Use ‘DINE & FLY’ app on your smartphone to avail dining offers with DragonPass.
  • In case of stolen or lost card, card reporting and card replacement on an emergency while traveling, the cardholder can avail premium customer service and support through GCAS.

3. Dining Benefits

  • This RAK Bank credit card offers the cardholders exclusive dining privileges and benefits at around 220 restaurants and outlets throughout the UAE with the help of a program called RAKfeast Dining Discount. To check more details on the offer, they can download the RAKBANK app on their smartphones.
  • This RAK credit card also offers up to 30% off with Visa’s Jumeirah and Time Out Dubai offers on dining.

4. Lifestyle Benefits

  • This RAK Bank credit card serves the passion of the cardholders by providing access to premium golf facility at various golf courses across GCC.
  • On receiving a VIP card the cardholders can avail an additional 10% discount on purchases done at any of the 9 Chic Outlet Villages using their My Ras Al Khaimah Visa Platinum Credit Card.
  • The cardholder can easily access various offers by Visa at one place by using the Visa Explore app.
  • The card members can avail an exclusive and diverse range of privileges and benefits at exciting outlets in the UAE. Some of these can be Getaways, Fashion, Entertainment, Jewelry and Watches, Fitness and Spa and Books & Departmental Stores.

5. Insurance Benefits

  • The cardholders receive complimentary protection through Travel Accident and Medical Insurance for emergency medical repatriation and evacuation, personal accident insurance, regular in-hospital cash benefit, and emergency medical expenses.
  • This RAK Bank Credit Card also provides purchase protection to the cardholders which include coverage against theft and damage for things that are purchased using the card.
  • The extended warranty provided by this card offers additional one-year manufacturer warranty, protecting the cardholder against any cost of repair or replacement.

Top Reasons to Get My Ras Al Khaimah Platinum 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 My Ras Al Khaimah Platinum Credit Card:

1. Reward Points

This RAK Bank credit card offers reward points (in the form of RAKrewards) and cashback against eligible purchases that can be redeemed for booking hotels and air tickets, securing gift vouchers and other amazing deals.

2. Benefits

My Ras Al Khaimah Platinum Credit Card offers a variety of benefits to its cardholders which include dining benefits, insurance benefits, lifestyle benefits, travel benefits, and movie benefits.

3. Customer Service

RAK Bank provides 24/7 customer care service by giving the credit cardholders access to their services and support anytime they need. The friendly customer care agents support and guide the card members in an informative manner, resolving their doubts and queries efficiently (if any).

4. Free for Life

This Ras Al Khaimah Platinum Credit Card charges no annual fee from the cardholders making it free for life. There is no fee charged on supplementary cards as well.

Fees and Charges on My Ras Al Khaimah Platinum Credit Card

My Ras Al Khaimah Platinum 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)

My Ras Al Khaimah Visa Platinum Credit Card Rewards

This RAK Bank Credit Card offers its cardholders rewards on the purchases they make. Some of these rewards are-

1. Standard RAKrewards

  • On a total monthly spend of up to AED 14,999, the cardholders can earn RAKrewards of 1.25 for every AED 1 spent locally and 2.50 for every AED 1 spent internationally.
  • When the total monthly spend is AED 15,000 and more, then the cardholders can earn RAKrewards of 2.50 for each AED 1 spent locally and 3.75 for each AED 1 spent internationally.
  • The maximum cap is 166,667.
  • With effect from January 1st, 2018, all the spending done in the category of Utility Payments and Government Services is entitled to earn RAKrewards of 0.35 for each AED 1 spent.
  • With effect from August 2nd, 2018, all the spending done in the category of Real Estate, Bill Payments, Transport, and Car Rentals is entitled to earn RAKrewards of 0.35 for each AED 1 spent.
  • The cardholder can earn Standard RAKrewards of 333,334 at most monthly on their domestic as well as international spends.

2. Triple RAKrewards on Expenses on Fuel

  • On a total monthly spend of up to AED 14,999, the cardholders can earn RAKrewards of 3.75 for every AED 1 spent on fuel.
  • When the total monthly spend is AED 15,000 and more, then the cardholders can earn RAKrewards of 7.50 for every AED 1 spent on fuel.
  • The cardholder can earn RAKrewards of 14,000 at most on fuel expenses.

3. RAKrewards over Movies

  • On a total monthly spend of AED 5,000 and more, the cardholders can earn RAKrewards of 50 for each AED 1 spent on movie tickets.
  • The cardholder can earn RAKrewards of 10,000 at most on movie spends.

4. Other Rewards

  • If the cardholders are able to spend 10,000 AED and above in a quarter on Ras Al Khaimah Platinum Credit Card, they get an opportunity to win RAKrewards of 500,000.
  • 25 winners in each quarter receive multiple opportunities of winning the grand draw.
  • The cardholders can benefit from RAKrewards partnerships by earning and redeeming their rewards. Some of the available redemption choices for the cardholders are-
  • More than 300,000 hotels, 300+ airlines and other travel experiences
  • Vouchers for desert safari, dining, boating adventure, renting a car, Marhaba service
  • Variety of home appliances, electronics and more. 

How to Redeem the Reward Points on My Ras Al Khaimah Visa Platinum Credit Card?

The cardholders can redeem their RAKrewards instantly anytime and anywhere online.  They simply need to login into their RAKrewards account in order to redeem their points. They can redeem these points to use for the following choices:

  • More than 300 airlines and 2000 destinations.
  • Relaxing stays at more than 300,000 hotels and apartments throughout the world.
  • Shopping for books, electronics, home furnishing, and products.

How does it Work?

The applicants who seek to obtain My Ras Al Khaimah Visa Platinum Credit Card can apply online or through call or by visiting any of our branches. 

  1. Online Application: In this digital age, applying for a credit card online is the most convenient way of obtaining a credit card. RAK Bank offers its applicants a secure and user-friendly online banking platform to the applicants so that they can easily evaluate and select a convenient RAK Bank Credit Card. The application form is available on the website of the bank.
  2. Branch Application: The applicants who do not want to apply for the credit card online, can visit the nearby branch of RAK Bank and apply directly for this Ras Al Khaimah Visa Platinum Credit Card.
  3. Phone Banking: The applicants can also use the phone banking option to connect with the bank and apply for this RAK credit card.

Documentation Required for RAK Bank Ras Al Khaimah Visa Platinum Credit Card

For Rak Bank Credit Card Application, the applicant requires the following documents-

  • The applicants have to provide bank statements for the previous 3 months.
  • Salaried people are required to present a recent pay-slip.
  • The applicants who are self-employed have to present a valid proof for income.
  • They also have to submit a valid residence proof.
  • The applicants need to submit a copy of the current credit card along with a recent statement (if any).
  • They also need to present a copy of their passport along with a copy of their Visa if they are an Expatriate.
  • Lastly, the applicants who are UAE Nationals, they need to provide a valid Emirates ID.

Frequently Asked Questions Related to RAK Bank Ras Al Khaimah Visa Platinum Credit Card

Q.1. What are supplementary cards?

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 RAK Bank 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.

Q.2. What is a Cash Advance?

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.

Q.3. What is a Late Payment Fee?

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 RAK Bank My Ras Al Khaimah Platinum Credit Card is AED 230.

Q.4. What is a credit card balance transfer?

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 RAK Bank Credit Card charges 1.50% on balance transfers.

Q.5. What is 0% Instalment Payment Plan?

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. 

Q.6. What is Credit Shield Insurance?

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.

Q.7. What do I do if my RAK Bank credit card is lost or stolen?

In case your credit card is lost or stolen, report it to the bank and the local police as soon as possible. The more time you take to report about the missing or stolen card, the more risk you might have to bear. If any such situation arises, you should let the bank know immediately by calling +9714 2130000 from within the UAE or +9717 2064444 if you are outside UAE. You have 24/7 access to their customer care.

Q.8. How many remittances can I make through RAKMoney Transfer using My Ras Al Khaimah Visa Platinum Credit Card?

You can remit funds to Nepal, India, Philippines, Pakistan and Sri Lanka using this RAK Bank credit card through RAKMoney Transfer. Keeping within the maximum retail remittance limit, you can make as many remittances as you want. You can also send funds over the predefined maximum retail limit but only up to the cash limit available on your credit card. Any remittance made above the maximum retail remittance limit would be considered as a cash transaction and finance charges may be levied on it starting from the transaction date. Cash advance fee will not be charged on such transactions.

The Maximum Retail Remittance Limit for My Ras Al Khaimah Visa Platinum Credit Card is AED 5000 per billing cycle. The minimum amount of remittance is AED 100.