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RAKBANK or the National Bank of Ras Al Khaima is one of the oldest and the most versatile banks in the UAE, providing international standard services in the region. Established as PJSC in the year 1976, the company underwent a major transformation shifting its focus on personal and business banking. With over 27 branches and numerous digital portfolios, the bank operates across the UAE and the Middle East. RAKBANK offers a range of individual, business and corporate banking services and products. Among the popular products, RAKBANK credit cards fulfil the daily expenditure and short-term financial requirements of customers.
RAKBANK Titanium credit card is a financial revolution in credit cards. This card is not only the first Titanium card in the whole region, but it is also the first premium card that offers maximum rewards on every spending. This RAKBANK credit card is also packed with a range of unparalleled benefits and privileges that other credit cards simply can’t match. Go through the article to discover the RAKBANK Titanium credit card detailed features and benefits.
RAKBANK Titanium credit card is one of the most rewarding credit cards in the region due to its advance and unique features. The following are the key features of this RAKBANK Credit card:
No Annual Fee: This RAKBANK credit card does not charge an annual fee. That means the cardholders will not have to pay an annual membership for owning this card as it is a ‘free for life’ credit card.
Interest-Free credit: The RAKBANK Titanium Credit Card offers interest-free credit for up to 55 days.
Low Interest Rate: This RAKBANK credit card offers a low interest rate on outstanding retail purchases, making the shopping experience more exciting and rewarding.
Supplementary Cards: With the RAKBANK Titanium Credit Card, cardmembers can get free supplementary cards for their family members. Through the supplementary RAKBANK Titanium Credit Card, cardholders can share the benefits of this card with their family members.
Cash Advance: One of the best features of this RAKBANK credit card is the cash advance facility. With this card, cardmembers can withdraw cash up to 80% of their available credit card in times of financial emergency.
Minimum Monthly Payment: With the RAKBANK Titanium Credit Card, cardholders can make the lowest monthly payment of just 3% of their outstanding balance.
RAKMoney Transfer: The RAKMoney Transfer facility offered by RAKBANK is extremely helpful. RAKBANK credit cardmembers can send money by using the RAKMoney Transfer service through digital banking from anywhere. In addition to this, cardholders can directly send the money from any of the RAKBANK branches. Cardmembers can send money to India, Pakistan, Sri Lanka, Nepal, the Philippines, Europe and some other parts of the world with RAKMoney Transfer.
Convenient Payment Options: RAKBANK credit cardmembers can make payment of their outstanding amount at any of the RAKBANK ATMs or EDMs. However, they can also pay their credit card bill at one of the following exchange houses:
UAE Exchange
AI Ansari Exchange
Redha AI Ansari Exchange
Sharaf Exchange
AI Fardan Exchange
LuLu Exchange Outlets
0% Easy Payment Plan: Easy Payment Plan (EPP) is another amazing feature of the RAKBANK Titanium Credit Card. It allows the cardmember to convert any big purchases into 0% easy to pay monthly instalments. This EPP can be availed for tenors of 3, 6, 9 and 12 months at a wide range of participating merchants.
Benefits of the RAKBANK Titanium Credit Card
Packed with a diverse range of privileges, the RAKBANK Titanium credit card provides unmatched benefits. From lifestyle to travel benefits, this RAKBANK credit card offers all types of benefits to meet the basic needs of cardholders. With the RAKBANK Titanium credit card, you can avail of the following benefits.
Cashback
Earn cashback on all spends:
The cardholder can enjoy 5% cashback on his retail transactions such as supermarket and dining spends across the world (max AED 150 per month).
As a member of this RAKBANK Credit Card, one can enjoy a max of 50% cashback on Cinemas. (max AED 70 per month)
The cardmember can earn 0.25% cashback per AED 1 spent anytime, anywhere under the category of Government, Utility bills, telecom, real estate and fuel.
Note: If the cashback on dining, supermarket & cinemas exceed the monthly maximum cashback for all of these three categories, then the excess expenditure in these categories will earn cashback at standard cashback rates.
Standard Cashback
In addition to the above-mentioned cashback, the cardholder will also earn up to 2% cashback on domestic and international retail transactions, international cash advances and internet transactions as given below:
Monthly Spend & Cashback on other retail transactions:
On the spending of up to AED 14,999, the cardholder will earn 1% monthly standard cashback.
On spending AED 15,000 or above, the cardholder will earn 2% monthly standard rate cashback.
Max cashback payable for all these categories is AED 1500 per month.
Offers:
Members of this RAKBANK credit card can enjoy exclusive offers on holidays, dining, electronics, jewellery, furnishing and much more.
Travel Benefits:
The RAKBANK Titanium Credit Card travel benefits are truly amazing and they give frequent travellers a strong reason to choose this card. Following are the various travel benefits and privileges that are offered by this card:
a. Discounts & Privileges: With this RAKBANK credit card, one can avail of a wide range of exclusive privileges and heavy discount offers on premium hotels and brands.
b. Complimentary Airport Lounge Access: Members of the RAKBANK Titanium Credit Card can enjoy unlimited lounge access to more than 10 VIP airport lounges in Dubai, Abu Dhabi, Kuwait, Jordan and Cairo airports. All they need to do is show this card in order to enjoy all the privileges.
c. Purchase Protection: Any new purchases made by using this RAKBANK Credit Card are insured for up to 30 days from the date of purchase against damage, loss or theft. The cardholder can receive reimbursement up to US$ 1,000 per item and for a maximum of US$ 8,000 per year.
d. Travel Accident Insurance: The RAKBANK credit card provides the primary cardholder and their family members with complimentary travel insurance. This travel accident insurance includes travel inconvenience cover, accident cover, medical cover and much more.
e. Chauffeured Rides: As a member of RAKBANK Titanium Credit Card, the cardholders can get discounts on Careem rides. They also get their first Careem ride for free. In addition to this, RAKBANK credit card members get 20% off on three rides per month.
Buy One Get One Offers:
RAKBANK Titanium Credit Card members can enjoy hundreds of buy one get one free offer across the Middle East & Africa at diners, theatres, cafes and attractions powered by the Buy One Get One MasterCard for You app.
MasterCard for You App Advantage:
RAKBANK Titanium Credit Card members can access the MasterCard for You app, which provides amazing tips on how to maximise savings and unlock the full potential of this credit card. Cardholders are simply required to choose the type of MasterCard they have, and then they can discover how it can provide travel and lifestyle benefits. Use this app to avail of amazing lifestyle benefits, claim insurance coverage, redeem offers and learn more about shopping privileges.
This RAKBANK credit card also offers plenty of complimentary products and services via the MasterCard Buy 1 Get 1 service, which is available in the MasterCard for You app. Best of all, it is regularly updated to add on the most amazing deals across the globe.
Lifestyle Benefits & Amazing Dining Offers: Cardholders can experience RAKBANK credit card benefits through plenty of lifestyle and dining discounts available all over the world. RAKfeast is an exclusive dining discount programme. RAKBANK Titanium Credit Card members can use the card to pay for meals and beverages at a wide range of participating restaurants and enjoy their meals at the lowest price.
Top Reasons to Get a RAKBANK Titanium Credit Card
There are numerous reasons to opt for a RAKBANK Titanium credit card. Packed with world-class benefits, this RAKBANK credit card provides amazing cashback offers to its cardholders on all its retail purchases. Not only this, it has various features that make this card the best choice for all types of spenders. However, some of the main reasons to get a RAKBANK Titanium Credit Card are mentioned below:
Cashback: The first and foremost reason to choose this RAKBANK credit card is that it allows its cardmembers to earn cashback on supermarkets, dining, cinemas and all other retail transactions. The cashback amount can be further used to make retail purchases. Therefore, the cardholder will earn more cashback.
No annual fee: Another reason to opt for this RAKBANK Titanium Credit Card is that it doesn’t charge an annual fee. The cardholder will not have to pay an annual membership fee for owning this card as it is a ‘free for life’ card.
Easy Payment Plan: Cardholders can avail Easy payment plan (EPP) at a 0% interest rate for tenors of 3 to 12 months. Thus, they can make big purchases and convert them into easy to pay instalments.
Benefits and Offers: The credit card offers a wide range of exclusive benefits and privileges unmatched by any other credit card. Best of all, this card suits the need of all types of spenders.
Convenient Credit Card Bill Payments: The cardholder can conveniently pay his/her credit card bills using online banking or the RAK Mobile application from the comfort of their home. They can also visit the bank branch at their ease and pay the bills through cheque or cash.
RAKBANK Titanium Credit Card Offers
In addition to the world-class benefits, this RAKBANK credit card provides a host of offers to help maximise savings. From travel and lifestyle to dining and wellness, it caters to a range of offers that keeps on updating from time to time.
RAKBANK Titanium Credit Card Fees & Charges
There are several fees & charges associated with the RAKBANK Titanium Credit Card that every cardholder must know before using the card to avoid any penalty. Following are the fees & charges of this RAKBANK credit card:
Type of Charges
Amount
Annual Fees for Primary Card
Free For Life
Annual Fees for Supplementary Card
Free For Life
Finance Charges on retail transactions
3.45% per month
Finance Charges on Balance Transfer
1.50% per month
Finance Charges on Credit Card Cheques (CCC)
2.25% per month
Finance Charges on cash advances
3.45% per month
Finance Charges on smart cash
2% per month
Fees for Cash Advance
3% of cash withdrawn amount or AED 99 (whichever is higher)
Fees for card replacement
AED 75
Over limit Fee
AED 275
Late Payment Fee
AED 230
Fees for Duplicate Statement
AED 45 (for each statement)
Fees for Returned Cheque
AED 100
Fees for procuring a copy of the sales voucher
AED 65
International Courier Fees
AED 100
Processing Fees for Credit Card Cheque
1% (Min AED 50 and Max AED 250)
Processing Fees for Smart Cash
AED 100
Processing Fees for Easy Payment Plan (EPP) at all participating merchants
AED 49 for 3 months
AED 49 for 6 months
5% for 9 months
2% for 12 months
Early settlement or cancellation fee for Balance Transfer, Smart Cash, Credit card Cheque and all Easy Payment Plans (Note that the current monthly interest will be fully charged)
AED 249
Foreign Transaction Fee in Non-AED Currency
Foreign Transaction Fee in AED Currency
2% of the transaction amount
5% of the transaction amount
Credit Shield Insurance (CSI)
0.99%
Fees for International Remittance
AED 75
Fees for Payment through Exchange House
AED 3 (per transaction)
Rescheduling charges
Up to 1% of the card’s total outstanding amount
E-statement Fees
Nil
Fees for Cash Release
AED 525
Printed statement delivery charges
AED 5 per statement
RAKBANK Titanium Credit Card Eligibility Criteria
There are several factors that determine the eligibility criteria of the Titanium credit card. An individual should satisfy the below-mentioned criteria to obtain this card:
Applicant’s age: To apply for RAKBANK Titanium Credit Card, an applicant must be at least 21 years of age or above.
Income: An applicant needs to produce a valid income source because the card requires a minimum monthly salary. The applicant’s monthly salary defines the credit limit and the individual’s capability to repay the credit card bills on time.
UAE Residency: RAKBANK credit cards are typically offered to UAE residents. Non-residents who are interested in applying for a RAKBANK Titanium Credit Card will need to consult the RAKBANK customer care number for instructions regarding how to proceed further.
Credit History: This is one of the major factors that certainly can’t be ignored. Credit history showcases the cardholder’s last payment record, so make sure it should be good enough. Because poor credit history may become the reason behind the rejection of the credit card application.
Employer Details: Applicants will need to show the valid details of an employer in the UAE. And self-employed individuals will also need to show their UAE trade license as proof of legitimate business.
Documents Required for RAKBANK Titanium Credit Card
Applicants need to submit some documents in order to complete their RAKBANK credit card application. Below is a complete list of the required documents:
Emirates ID: As this RAKBANK credit card is offered to UAE residents, the applicant is required to provide the original and photocopy of their Emirates ID.
UAE Residence Visa or passport copy (for expats): Expats may also need to provide the original and photocopy of a valid UAE residence visa or passport.
Income Proof: Salaried individuals need to provide a salary certificate or salary transfer letter. In addition to this, the applicant will also need to provide the bank statements of the last 3-6 months.
Address Proof: An applicant may show the utility bills or lease agreement as address proof.
Trade License: Self-employed individuals may also need to provide a trade license as proof of legitimate business.
How to Apply for a RAKBANK Titanium Credit Card?
One can easily apply for a RAKBANK Titanium credit card either online or in person.
Online Applications to Apply for a RAKBANK Titanium Credit Card
Interested individuals can visit RAKBANK’s official website in order to apply for this RAKBANK credit card. Now click on the apply button and submit the credit card application after filling in all the required details. Once the details are filled incorrectly, the bank will check whether the applicant is eligible to avail of the RAKBANK Titanium credit card or not. Based on the eligibility of the customer, they may or may not receive the card. It will be at the discretion of the RAKBANK to decide if the applicant has to be given a credit card or not.
Offline Applications to Apply for a RAKBANK Titanium Credit Card
An applicant can also apply for this RAKBANK credit card offline by visiting the nearest branch of RAKBANK. He/She needs to fill in the credit card application form provided by the bank executive. Along with this, they have to submit the required documents to get a credit card. If the applicant meets the eligibility criteria, then the bank will dispatch the credit card within 7-8 working days.
Q1: What is the supplementary RAKBANK Titanium Credit Card?
Ans: A supplementary RAKBANK Titanium Credit Card is basically a card that is provided to family members of the primary cardholders. It works similarly like a primary credit card and allows supplementary cardholders to access credit limits and avail all the cashback and rewards. All supplementary card members share the same credit limit with the primary card.
Q2: How do I earn cashback on my RAKBANK Titanium Credit Card?
Ans: Well, cashback is the special feature of the RAKBANK Titanium Credit Card. Through this exclusive feature, the cardholder can get maximum returns on their every spending. The cashback program allows the customers to earn cashback anytime, anywhere in the world on all his retail purchases.
Q3: What all transactions do not earn cash back?
Ans: The cashback is provided to the cardholders when he/she makes retail purchases by using this card. Hence, there are some other transactions that will not earn cashback and they are as follows:
Finance charges
Credit card Cheques (CCC)
Local cash Advances
Transactions reversed by the Merchant
All fees that are charged on the card by the RAKBANK
Utility bill payments like electricity bills, telephone bills, water bills made through the bank’s payment channels like Internet banking, ATM, IVR, Mobile Banking, and any other payment channel of the bank.
Other transactions determined by the bank from time to time
Q4: Where and how can I use the cashback amount?
Ans: Well, it is totally up to the cardholder that how he/she wishes to use the cashback amount as there are no limitations on using the cashback amount. If in case there is an outstanding amount on the RAKBANK Titanium Credit Card when the redemption request gets processed, the cashback amount will be adjusted against that. As a result, the due amount from the cardholder to the bank will be reduced to the extent.
And if there is no outstanding amount on the card then the cashback will reflect as a credit balance and it can further be used to make retail purchases. Thus, the cardholder will get a chance to earn further cash back.
Please note that only the primary card member can redeem this cashback amount. It can also be credited to his account. Remember that the cashback amount can’t be en-cashed or transferred to any other card
Q5: Does the cashback amount has an expiry date?
Ans: Unredeemed cashback amount will expire in 15 months. Therefore, it is mandatory that the primary cardholder redeems all the accumulated cashback within 15 months before it gets expired.
Q6: If my RAKBANK Titanium Credit Card is lost/stolen will that be replaced?
Ans: Yes, you can get your lost or misplaced card replaced but remember that the bank will charge a nominal replacement fee of AED 75 for replacing the card.
