RAKBANK World Credit Card

RAKBANK World Credit Card

About the RAKBANK World Credit Card

The RAKBANK World credit card offers the best of both local and international benefits in one sleek, supercharged RAKBANK credit card. In addition to the astounding benefits of the World RAKBANK credit card, the card also brings to the table decades worth of experience in the UAE market. RAKBANK, which was founded over 40 years ago in 1976, has been a stalwart of the Middle East financial sector, providing cardholders with new and exciting benefits year after year.

This RAKBANK credit card provides cardmembers with access to rewards in and out of UAE, combining superb discounts on local and international spending alike. New owners and future applicants of the MasterCard partnered RAKBANK credit card can expect huge savings, worldwide benefits and seamless connectivity anywhere across the globe.

Features of the RAKBANK World Credit Card

When it comes to a RAKBANK credit card, cardholders can rest assured that they are getting the best in industry features. But RAKBANK doesn’t only match the world-class standards and conventions set in place by financial industries across the world, it takes it a step further by improving upon the existing standards to ensure the safety and convenience of banking for its cardholders. Here are some of the top features that a RAKBANK credit card offers.

Security

Every RAKBANK credit card comes equipped with the highly secure chip & pin technology. The RAKBANK credit card is embedded with a microchip, which makes it completely unique and impossible to duplicate. Also, present on the RAKBANK credit cards is 3D secure technology, which prevents online fraud. The cardholders are asked to enter a 6 digit OTP sent to their registered mobile number, whenever an online transaction is being made.

Contactless Payment

RAKBANK credit cards allow the cardholder to make contactless payments, through the extremely convenient ‘Tap & Go’ feature. Contactless payments are secure, convenient and take barely a few seconds. The RAKBANK credit card Tap & Go feature ensures that the card never has to leave the customer’s hands and that no duplicate payments are made (in the event that the cardholder tapped twice).

Balance Transfer

Indebted cardholders can make use of the balance transfer RAKBANK credit card benefit to help reduce their total debt. A balance transfer plan allows cardholders to transfer their outstanding balance to the RAKBANK credit card account and pay it back with 0% interest charged. The RAKBANK credit card balance transfer scheme works in the following way:

  1. Cardholders can enjoy 0% interest for the first 3 months on transferred balances. Customers will be charged a processing fee of 1.95% of the transfer amount.
  2. After the first 3 months, RAKBANK credit card owners will be charged 3.45% interest.\

Easy Payment Plan

Easy Payment Plan (EPP) is one of the most useful RAKBANK credit card They allow the cardholder to convert any big purchases into smaller monthly instalments. These EPPs can be availed for tenors of 3 months, 6 months, 9months and 12 months, starting from amounts as low as AED 365. What makes the EPP such a lucrative feature is the fact that they charge 0% interest.

SMS Alerts

This RAKBANK credit card feature combines convenience and security in one highly functional service. Real-time SMS alerts allow the RAKBANK credit card owner to keep track of expenditures, withdrawals, balance transfers, offers and more.

RAKdirect

RAKBANK employs a highly dedicated staff of customer support executives to provide its 24/7 telephonic helpline known as RAKdirect. RAKBANK credit card owners can avail of the helpful services at any time, and on any day of the year by either contacting RAKBANK directly at (04)213-0000 or by accessing the automatic voice response software at 600-54-4049. RAKdirect can be used to clear RAKBANK credit card queries, to pay utility bills, to request for information on the RAKBANK credit card account and even to initiate salary advances.

Digital & Mobile Banking

Owners of a RAKBANK credit card can log in to the digital RAKBANK platform for quick and secure banking right from the comfort of their own home. The digital banking platform allows cardholders to view account statements, make RAKBANK credit card payments, pay utility bills, locate branches, transfer funds and even withdraw cash. RAKBANK also offers its customers a mobile banking app, which allows access to all of the online banking features. The app can be download for Android and iOS.

Fund Transfer

The fund transfer facilities provided by RAKBANK are extremely comprehensive and diverse in nature. RAKBANK credit card owners can transfer funds in one of two highly convenient ways:

  • RAKMoneyTransfer: The RAKMoneyTransfer service gives the cardholder the ability to transfer funds to countries such as India, Nepal, Pakistan, Philippines & Sri Lanka directly through their RAKBANK credit card. The World RAKBANK credit card allows the cardholder to transfer a maximum of AED 7,500. The associated remittance charges can be found on the RAKBANK website.
  • Xpress Money: A partnership between RAKBANK and Xpress Money has made it possible for cardholders to instantly transfer money from their RAKBANK credit card to 20 countries, the details of which are mentioned on the RAKBANK website.

Credit Card Cheques

RAKBANK has taken an inventive approach to bolster their connectivity by introducing the credit card cheque services. RAKBANK credit card owners can pay using a banker’s cheque in places that do not accept card payments. These credit card cheques may be used to pay for education expenses, utility bills, insurance policies, rent and even vehicles.

Benefits of the RAKBANK World Credit Card

From the RAKBANK credit card movie offers to the incredible saving potential of cashback deals, a RAKBANK credit card opens up a world of possibilities for cardholders. The RAKBANK World credit card, in particular, offers huge lifestyle, travel and welfare benefits.

Cashback Offers

The MasterCard World RAKBANK credit card offers tantalizing cashback deals on nearly every category of purchase. The cashback criteria are as follow:

  • Travel Expenses - Up to 10% Cashback: RAKBANK credit card owners that fall under the minimum monthly spending range of AED 15,000 to AED 19,999 earn 5% cash back on travel expenses such as domestic and international flights, hotel stays and dining. This is capped at AED 300 per month. RAKBANK credit card members that spend more than AED 20,000 in a month earn 10% cashback, capped at AED 600 per month.
  • Supermarket Expenses - Up to 10% Cashback: RAKBANK credit card owners within a minimum monthly spending range of AED 15,000 to AED 19,999 earn 5% cashback on supermarket spending anywhere in the world, capped at AED 200 per month. RAKBANK credit card members who spend more than AED 20,000 in a month earn 10% cashback, capped at AED 400 per month.
  • Cinema Expenses - Up to 50% Cashback: Any cardholder that has monthly spending of AED 15,000 or more can avail of this fantastic RAKBANK credit card cinema offer, which gives the cardholder 50% cashback on any cinema across the globe. The RAKBANK credit card movie offer is capped at AED 140 cashback per month.
  • Domestic Retail Purchases - Up to 3% Cashback: 
    • RAKBANK credit card owners with monthly spending of AED 14,999 or less earn 1% cash back on domestic retail purchases.
    • RAKBANK credit card owners with monthly spending between AED 15,000 to AED 29,999 earn 2% cash back on domestic retail purchases.
    • RAKBANK credit card owners with monthly spending of AED 30,000 or more earn 3% cash back on domestic retail purchases.
  • International Retail Purchases - Up to 5% Cashback: 
    • RAKBANK credit card owners with monthly spending of AED 14,999 or less earn 3% cash back on international retail purchases.
    • RAKBANK credit card owners with monthly spending between AED 15,000 to AED 29,999 earn 4% cash back on international retail purchases.
    • RAKBANK credit card owners with monthly spending of AED 30,000 or more earn 5% cash back on international retail purchases.
  • Special Category Expenses: Telecoms, utility, real estate, car rental, government service and fuel expenses made with a RAKBANK credit card earn 0.25% cashback.

Lifestyle Rewards

In addition to the RAKBANK credit card movie offers mentioned above, the RAKBANK World credit card also provides the following lifestyle rewards:

  • Dining: Cardholders can experience RAKBANK credit card benefits firsthand via numerous dining discounts available all over the world. Customers can simply download the RAKBANK mobile app for Android or iOS to identify the partnered restaurants in their vicinity.
  • Hotel Stays: Owners of a RAKBANK credit card can earn one complimentary night’s stay at any SPG Hotels & Resorts location in Africa and the Middle East when they book two nights. On booking four nights, the cardholder will earn two free nights instead.
  • Luxury Shopping: The World RAKBANK credit card up to 60% discount on luxury shopping at the Bicester Village boutique in the UK.
  • Spa Treatments: Another one of the exciting RAKBANK credit card benefits is the discount on Raffles, Swissotel and Fairmont spas, which can be found in most parts of the world. The offer allows the cardholder access to a 90-minute treatment for the discounted price of a 60-minute treatment only.
  • MyUS Shopping: The MyUS organization offers cost-saving shipping from US stores, by collectively shipping all purchases made by a customer in one trip. RAKBANK credit card owners can shop at more than 100,000 stores in the USA and have the items shipped to them at the extremely low costs. The RAKBANK credit card also offers a complimentary year-long premium membership, flat 25% discount on the first year’s shipping and insurance on the initial US$100 worth of products.

MasterCard Advantage

As a MasterCard partnered card, the World RAKBANK credit card benefits also include the highly acclaimed MasterCard rewards. Cardholders gain access to the MasterCard for you app, which provides extremely helpful tips on how to maximize savings and unlock the full potential of the RAKBANK credit card.

The World RAKBANK credit card also offers tons of complimentary products and services via the MasterCard Buy 1 Get 1 service, which is available in the MasterCard for you app and regularly updated to include the most lucrative deals around the globe.

Finally, the MasterCard Priceless Cities program grants the RAKBANK credit card owner access to big discounts on international events, dining, shopping and entertainment activities. The full range of Priceless offers can be seen at Priceless.com.

Travel Benefits

The World RAKBANK credit card benefits range even further into the realm of travel, giving frequent travellers an extremely strong reason to opt-in for the card. The various travel benefits afforded by the RAKBANK World credit card are as follows:

  • Lounge Access: This RAKBANK credit card gives the primary cardholder and one accompanying guest access to 550+ airport lounges all over the world. The lounge access is provided through a partnership with LoungeKey. The full list of partnered lounge locations can be found on Loungekey.com.
  • Car Rentals: Customers can enjoy discounted rates on the popular car rental services of Avis and Hertz. Owners of the World RAKBANK credit card receive up to 25% discount on Avis car rentals and up to 15% discount on Hertz car rentals. At Hertz car rental, RAKBANK credit card owners also get access to a complimentary car upgrade and expedited reservation and return processes.
  • Luxury Apartment Rentals: Owners of the World RAKBANK credit card will receive discounts of up to 10% on onefinestay properties, which include apartments in premier locations such as The Hamptons, the French Riviera, Edinburgh and more. Cardholders will also receive up to 15% discount on luxury apartment rentals across the Asia Pacific region.
  • Pick-Up & Roadside Assistance: This RAKBANK credit card also offers a host of vehicle pickup and repair services. The services offered include roadside assistance, under which the cardholder can access towing, mechanical repair, battery boosting, flat tyre, lockout and emergency refuel services. Also offered by the World RAKBANK credit card is are concierge services that perform car vehicle registration, vehicle servicing and airport pickup and drop off services up to 6 times in a year.
  • Flight Discounts. cleartrip.ae offers the World RAKBANK credit card owners a flat 10% discount on round trip international flights. The discount is valid for all airlines and can be availed easily by visiting the Cleartrip.ae website.
  • Chauffeured Rides: One of the may RAKBANK credit card benefits includes discounted Careem rides. RAKBANK credit card holders can take their first Careem ride for free, capped at a maximum fare of AED 60. Cardholders will also get a 20% discount on three rides every month, capped at maximum fares of AED 25 each.
  • Travel Insurance: The World RAKBANK credit card provides the primary cardholder and their family members with complimentary travel insurance, which includes accident cover, travel inconvenience cover, medical cover and more. The coverage offered under travel insurance is as follows:

a. Travel & Medical Insurance
Under the travel and medical cover, owners of the RAKBANK credit card will be protected against the following:

  1. Personal Accident - Up to US$ 500,000
  2. Medical Evacuation or Repatriation - Up to US$ 500,000
  3. Emergency Medical - Up to US$ 500,000
  4. Hospitalization - Up to US$ 100 per day

b. Travel Inconvenience
Cardholders will also be reimbursed for any travel interruptions such as:

  1. Baggage Loss - Up to US$ 3,000
  2. Baggage Delay - Up to US$ 300
  3. Trip Cancellations - Up to US$ 7,500
  4. Trip Delay - Up to US$ 300
  5. Missed Connections - Up to US$ 300
  • Purchase Protection: Any new purchases made with the World 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.

RAKBANK World Credit Card Eligibility

RAKBANK credit card requirements are regularly updated as per the discretion of the bank. Here are some of the most commonly noticed eligibility criteria for a RAKBANK credit card.

  • Age of Applicant: The applicant must be at least 21 years of age to apply for a RAKBANK credit card. Younger applicants over the age of 18 may be considered as joint applicants, depending on the specific RAKBANK credit card requirement.
  • Income: In addition to providing a valid source of income, applicants are also expected to meet the RAKBANK credit card minimum salary requirement. The applicant’s minimum monthly salary is used to assess whether they will be able to make repayments without getting overleveraged. RAKBANK credit card minimum salary requirements are not made public and are likely to change as per the bank’s prerogative.
  • Credit History: One of the most important RAKBANK credit card requirements is the cardholder’s past payment record – aka the applicant’s credit history. UAE credit bureaus maintain a detailed record of all loans, credit cards and credit based financial services availed by the customer to publish in the form of a credit report as per the bank’s request. Poor credit history may disqualify the applicant from obtaining a RAKBANK credit card.
  • UAE Residency: RAKBANK credit cards are typically offered only to UAE residents. Non-resident customers that are interested in a RAKBANK credit card will need to consult the RAKBANK customer care number for instructions on how to proceed. The RAKBANK customer care number is (04)213-0000.
  • Employer Details: Applicants will be required to present valid details of an employer in UAE. Self-employed RAKBANK credit card applicants will also be asked to present their UAE trade license as proof of a legitimate business.

Top Reasons to Get a RAKBANK World Credit Card

The RAKBANK credit card benefits are extremely vast, allowing the cardholder to access world-class benefits at home and overseas. Some of the top reasons to get a RAKBANK credit card are mentioned below:

Secured at Every Step

No matter where or how cardholders use their RAKBANK credit card, they can rest assured that their transactions are completely secured. RAKBANK pulls out all the stops to ensure that their cards provide the maximum possible security.

  1. For in-store transactions, the Chip & Pin technology ensures that the RAKBANK credit card cannot be duplicated.
  2. Online transactions are protected via the 3D secure pin feature.
  3. Finally, a set of real-time alerts sent directly to the cardholder’s registered mobile number also immediately apprises the RAKBANK credit card owner against unauthorized use.

Low Interest

RAKBANK credit cards charge a nominal monthly retail interest of 3.25% in return for their incredibly diverse range of benefits. The RAKBANK credit card benefits range from local spending to international travel. Cardholders can avoid this interest entirely by simply repaying their full balance amount at the end of every billing cycle, making the RAKBANK World credit card an extremely useful way of saving month on month.

Saving Opportunities

When it comes to saving without compromising on spending, the World RAKBANK credit card truly excels at giving cardholders their money’s worth. Here are some of the incredible RAKBANK credit card features that enable customers to save while spending:

  • Cashback: The World RAKBANK credit card offers guaranteed cashback on multiple spending categories, including but not limited to travel, grocery shopping, entertainment expenses, utility bill payments and more.
  • Balance Transfer: A 0% balance transfer plan allows the World RAKBANK credit card owner to consolidate all debt in one account and clear away massive chunks of it for minimal to no interest, depending on the chosen tenor of payments.
  • EPP: RAKBANK’s Easy Payment Plan (EPP) is also available in 0% interest schemes with tenors of 3 this to 12 months. This lets cardholders convert large transactions into easy to handle monthly repayments. The list of partnered EPP merchants is detailed on the RAKBANK site.

Emergency Cash

Avail of up to 80% of the available RAKBANK credit card limit as immediate cash in times of financial emergency. The cash advance feature on a RAKBANK credit card affords the cardholder financial liquidity in their time of need.

Family Cards

Share the wonders of a World RAKBANK credit card with family members through the easily available supplementary RAKBANK credit cards. In fact, the first supplementary World RAKBANK credit card is even offered completely free of charge.

Convenience

Whether its retail store purchases or card payments, RAKBANK has made it extremely convenient for cardholders to access funds and clear balance.

  1. RAKBANK credit card payments can be made online, in branches, at ATMs, through mobile banking and even in the form of cheque deposits.
  2. Other major RAKBANK credit card benefits include the money transfer programs, which can be used to transfer funds overseas within the hour.
  3. Finally, cardholders are also given the option to make retail store payments via a banker’s cheque in places that their RAKBANK credit card is not accepted.

RAKBANK Credit Card Offers

In addition to all the above-mentioned benefits of the World RAKBANK credit card, RAKBANK also provides cardholders with frequently updated offers and schemes to help maximize savings. The RAKBANK credit card offers range from dining and lifestyle spending to travel, health & wellness and a lot more. The full list of RAKBANK credit card offers is regularly updated on the RAKBANK site.

RAKBANK World Credit Card Fees & Charges

On applying for a World RAKBANK credit card, the cardholder will be provided with a policy document that details all of the card’s fees, charges and associated terms and conditions. Some of the important parameters to keep in mind when applying for a World RAKBANK credit card are given below:

  •  Annual Membership Fee: AED 750 (Free for the first year*)

*The World RAKBANK credit card has no annual membership fee for the first year. For subsequent years, the card charges an annual fee of AED 750. However, even this annual fee is waived if the customer uses their World RAKBANK credit card to meet the yearly spending requirement of AED 50,000.

  • Monthly Retail Interest: 3.25%
  • Cash Advance Interest: 3.25%
  • Supplementary Card Issuance Fee: The first supplementary World RAKBANK credit card is free. All additional supplementary cards charge an issuance fee of AED 200 per card.
  • Late Fee: AED 230
  • Over-limit Fee: AED 275

The complete list of fees and charges for the World RAKBANK credit card can be found on the RAKBANK site.

How to Apply for a RAKBANK World Credit Card

Customers interested in beginning their journey with the World RAKBANK credit card can apply in one of two ways: either in person at any of the RAKBANK branches or via the online application form. If the applicant meets all the RAKBANK credit card requirements, they will be issued the card within a few working days.

  • Applying in Branch: Customers may apply for the World RAKBANK credit card at any of the branches in UAE.
  • Applying Online: Alternatively, customers can apply for the World RAKBANK credit card by filling out an online application. The online RAKBANK credit card application form can be downloaded on the RAKBANK site.

As an added security measure, cardholders are required to activate their RAKBANK credit card after receiving it. This ensures that the card has been received by the correct applicant. To initiate the activation process, cardholders are required to follow a 3 step process that is detailed on the RAKBANK website.

Additional Information & Documentation

Applicants will need the following documents to complete their World RAKBANK credit card application:

  • Emirates ID: As the World RAKBANK credit card is offered to UAE residents, the applicant will be required to show their original and copy of the Emirates ID.
  • Visa / Passport: Expatriates may also be asked to present their original and photocopy of a valid passport and UAE visa.
  • Income: In addition to providing details of a legitimate UAE employer, the applicant will also be asked to present their latest salary slips or banking statement. This is used to see if the applicant meets the RAKBANK credit card minimum salary requirement.
  • Address Proof: Proof of a valid UAE address can be shown in a variety of ways. The RAKBANK credit card applicant may present utility bills with their name clearly mentioned on it or submit a tenancy agreement, a title deed, etc.
  • Security Deposit: In return for access to the RAKBANK credit card limit, the applicant may have to submit a security deposit cheque. The security deposit amount is usually a bit higher than the requested credit limit and can be utilized by the bank at any point for recovering missed card payments.
  • Trade License: Self-employed applicants may also be required to display a trade license as proof of legitimate business.

The RAKBANK credit card requirements may change as per the bank’s discretion. Be sure to consult the customer care staff for more details on required documentation. The customer care number is (04)213-0000.

Other useful RAKBANK credit card tools include:

  • Digital Banking: The RAKBANK digital portal login uses the latest security standards to ensure safe access.
  • Mobile App: The RAKdirect portal can also be accessed via the RAKBANK credit card and banking app, available for download on Android and iOS.
  • RAKBANK Savings: One of the most useful RAKBANK credit card tools is their savings calculator. The calculator can be used to accurately estimate how much the RAKBANK World credit card helps save in a year. The savings calculator can be found on the RAKBANK World credit card page itself.
  • RAKdirect: RAKBANK offers an automated voice response system by the name of RAKdirect. Cardholders can use RAKdirect to make RAKBANK credit card payments, to clarify queries and much more. To access the RAKdirect services simply dial 600-54-4049.

RAKBANK World Credit Card FAQs

A list of the most frequently asked questions pertaining to RAKBANK credit cards.

Q.1. What is a RAKBANK supplementary card?

A supplementary RAKBANK credit card is a card provided to family members of the primary cardholder. It functions just like a regular RAKBANK World credit card and allows supplementary cardholders to access credit limits and avail of discounts and rewards. All supplementary RAKBANK credit cards share the same credit limit with the primary card.

The first supplementary World RAKBANK credit card is issued free. All additional cards are issued for a fee of AED 200 per card.

Note that supplementary RAKBANK credit cards also need to be activated and can be done so through the primary cardholder’s registered mobile number by following the steps mentioned on the RAKBANK site.

Q.2. How much cashback can I earn with the RAKBANK World credit card?

The total cashback amount earned by using a World RAKBANK credit card is entirely dependent on how much the cardholder has spent during the month and on the category-wise and total monthly capped amounts. For a good estimate of how much cashback the World RAKBANK credit card offers, customers may refer to the cashback calculator available on the RAKBANK website.

Q.3. How can I make RAKBANK World credit card repayments?

Convenience and customer satisfaction hold great importance for RAKBANK. As such, even the RAKBANK credit card payments can be made in an extensive variety of ways.

  • RAKBANK Branches: All RAKBANK credit card payments may be made at RAKBANK branches in the form of cheques or as cash.
  • ATMs & EDMs: RAKBANK also allows cardholders to make card payments through cheque deposit at any RAKBANK ATM or Electronic Deposit Machines (EDM).
  • Online Banking: An online banking portal lets cardholders make RAKBANK credit card payments within minutes.
  • RAKdirect: RAKBANK’s automated voice response system, known as RAKdirect can also be used to securely make RAKBANK credit card payments from anywhere in the world. To avail of the RAKdirect payment service, dial 600-54-4049.
  • Direct Debit: Also referred to as standing instructions, owners of a RAKBANK credit card can set up automatic monthly payments directly from their bank account by informing RAKBANK of the same in writing.
  • Exchange Houses: Finally, RAKBANK credit card repayments can also be made at exchange houses across UAE, which include all UAE Exchange, Al Ansari Exchange, Al Fardan Exchange, Redha Al Ansari Exchange, Lulu Exchange and Sharaf Exchange outlets.

Q.4. How do I cancel my RAKBANK World credit card?

To cancel a RAKBANK credit card, the cardholder should follow these steps:

  • Clear the entire outstanding balance, fees and charges accrued on the RAKBANK credit card.
  • Submit a written request to RAKBANK for credit card closure.
  • Cut up all primary and supplementary RAKBANK credit cards in half and return them to the bank.
  • Request for a No Liability Certificate. This certificate is undeniable proof that the RAKBANK credit card charges have been settled in full. The certificate may be required while leaving the country and can be obtained from RAKBANK for AED 50.

Note that it may take up to 45 days or more for any security deposit amounts to be returned. During this time the bank will make sure there are no pending charges or payments scheduled on the RAKBANK credit card.

Q.5. What do I do if my RAKBANK World credit card is stolen or misplaced?

If a RAKBANK credit card is lost or stolen, the cardholder should immediately inform both the bank and the police authorities. The World RAKBANK credit card can be replaced for a fee of AED 75.