RAKBANK Titanium Credit Card

RAKBANK Titanium Credit Card

About the RAKBANK Titanium Credit Card

RAKBANK Titanium Credit Card is a new financial revolution in credit cards. Since this card is not only the First Titanium Card in the whole region but also it is the first premium card that offers the maximum rewards on every spending. This RAKBANK Credit card is also packed with a range of unparallel benefits and privileges that other credit card simply can’t match.  There is much more about this card that makes it the best and most rewarding credit card in the region.

Features of the RAKBANK Titanium Credit Card

RAKBANK Titanium Credit Card is one of the best and most rewarding credit cards in the region due to its advance and unique features. Some of the main features of this RAKBANK Credit card are given below:

  • 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 “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, card members will 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 cash advance. With this card, card members 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%.
  • RAKMoney Transfer: The RAKMoney Transfer facility offered by RAKBANK is extremely helpful. RAKBANK credit card members can send money by using RAKMoney Transfer service through Digital Banking from anywhere. In addition to this, cardholders can directly send the money from any of the RAKBANK branches.Card members can now send money to India, Pakistan, Sri Lanka, Nepal, Philippines, Europe, and some other parts of the world with RAKMoney Transfer.
  • Convenient Payment Options: RAKBANK credit card members can make payment for their outstanding amount at any of the RAKBANK ATM or EDM. 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 card member to convert any big purchases into 0% easy to pay monthly installments. This EPP further 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 benefits, the RAKBANK Titanium Credit Card provides the unmatched benefits that other credit cards simply can’t match. From lifestyle benefits to travel benefits, this RAKBANK credit card offers all types of benefits to meet the basic need of its cardholders. Following benefits can be availed by using this card:

Cash Back

Earn cashback on all spends

  1. The cardholder can enjoy 5% cashback on his retail transactions such as Supermarkets and dining spends across the world. (max AED 150/per month)
  2. As a member of this RAKBANK Credit Card, one can enjoy max 50% cashback on Cinemas. (max AED70/per month)
  3. The card member can earn 0.25% cashback per AED 1 spend any time, anywhere worldwide on all his spends 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 spent amount in these categories will earn cashback at standard cashback rates.

Standard Cashback

In addition to the above-mentioned cash back, 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 cash back.
  • While on the spending of AED 15,000 and above than that the cardholder will earn 2% monthly standard cash back.

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 the frequent traveler 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 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 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 avail of the service 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, one can get discounts on Careem ride. The card member can also take their first Careem ride for free. In addition to this, members of this RAKBANK credit card will also get 20% off on three rides in a month

Buy One, Get One Offers: The cardholder of the RAKBANK Titanium Credit Card can enjoy hundreds of buy one, get one free offer across the Middle East & Africa at dining, entertainment, cafes, and attractions powered by the Buy One, Get One MasterCard for You app.

MasterCard For You App Advantage: Card members of the RAKBANK Titanium Credit Card gain access to the MasterCard For You App which provides amazing tips on how to maximize 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 amazing lifestyle benefits, claim insurance coverage, redeem offers, and learn more about the shopping privileges.

However, this RAKBANK credit card also offers a 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 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 in all over the world. RAKfeast is an exclusive dining discount programme. Cardholders of the RAKBANK Titanium Credit Card 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.

RAKBANK Titanium Credit Card Eligibility

There are several factors that determine the eligibility criteria of the RAKBANK Titanium Credit Card. An individual should satisfy the below-mentioned criteria to obtain this card:

  1. Applicant’s age: To apply for RAKBANK Titanium Credit Card, an applicant must be at least 21 years of age.
  2. Income: An applicant is required to provide a valid source of income because this card requires a minimum monthly salary. The applicant’s minimum monthly salary is used to assess whether he/she is able to make repayments or not.
  3. UAE Residency: RAKBANK Credit Cards are typically offered to UAE residents. Non-residents individuals who are interested in applying for a RAKBANK Titanium Credit Card will need to consult the RAKBANK customer care number for instructions that how to proceed further.
  4. Credit History: This is one of the major factors that certainly can’t be ignored. Credit history showcase 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.
  5. 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.

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 his retail purchases. Not only this, it has various amazing 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:

  • Cash Back: The first and foremost reason to choose this RAKBANK credit card is that it allows its card members to earn cashback on Supermarkets, Dining, Cinemas, and all other retail transactions. The cashback amount further can be used to make retail purchases. Therefore, the cardholder will earn more cash back.
  • 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 “free for life” card.
  • Easy Payment Plan: Cardholders can avail Easy payment plan (EPP) on a 0% interest rate with tenors of 3 to 12 months. Thus, they can make big purchases and convert them into easy to pay installments.
  • 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.

RAKBANK Titanium Credit Card Offers

In addition to the world-class benefits, this RAKBANK credit card provides a host of offers to help maximize savings. From travel and lifestyle to dining and wellness, it caters a range of offers that keeps on updating 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

 

Types of Charges Amount
Fees for Cash Advance 3% of cash withdrawn amount or AED 99 whichever is greater
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 sales voucher AED 65
International Courier Fees AED 100
Processing Fee for Credit Card Cheque 1% (Min AED 50 and Max AED 250)
Processing Fee for Smart Cash AED 100
Processing Fee 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 Case Release AED 525
Printed statement delivery charges AED 5 per statement

 

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:

Aspiring individuals can visit the official website of the RAKBANK in order to apply for a RAKBANK Titanium 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 in correctly, the bank will check whether the applicant is eligible to avail 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 on the discretion of the RAKBANK to decide if the applicant has to give the credit card or not.

Offline Applications

An applicant can also apply for this RAKBANK credit card offline by visiting the nearest branch of RAKBANK. He/she need to fill in the credit card application form provided by the bank executives. 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 give the credit card.

Additional Information & Documentation

Applicants will require some documents in order to complete their RAKBANK Titanium 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 residence proof as an address proof.
  • Trade License : Self-employed individuals may also need to provide a trade license as proof of legitimate business.

RAKBANK Titanium Credit Card FAQ's

Q.1. What is the supplementary RAKBANK Titanium Credit Card?

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.

Q.2. How do I earn cashback on my RAKBANK Titanium Credit Card?

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.

Q.3 What all transactions do not earn cash back?

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

Q.4. Where and how can I use the cashback amount?

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.

Q.5. Does the cashback amount has an expiry date?

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.

Q.6. If my RAKBANK Titanium Credit Card is lost/stolen will that be replaced?

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.