Best Cash Back Credit Cards in UAE

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Cash back credit card in UAE

UAE has always been the land of opportunities. People from around the globe throng to the UAE for business and job opportunities. Living in the UAE is costly and most people try to manage the costs by taking loans or availing credit cards. Banks and financial institutions are aware of this need and offer various products to provide credit to people. Applications for a Credit Card in UAE have seen an increase in the last few years, contrary to the popular opinion that people are getting credit-averse according to a report by Ernst and Young.

Banks offer a wide range of rewards to card holders for using their cards. Cash back is one such reward system wherein the card holder is paid a small percent of the expenses that are made using the credit card. Many banks offer a credit back to the card account with some give the cardholder an option of redeeming the cash back points for discounts, air miles, and other products/services. cash back can be provided monthly or annually depending on the policy of the bank.

Which is the best cash back credit card in UAE?

A credit card reward system can have many terms and conditions. Hence, before looking for the best cash back credit card in UAE, you must take the following aspects into consideration:

  • Spend eligibility – Most banks highlight the cash back rate and the pay out duration in their product offering but expect cardholders to read the eligibility criteria for these rewards themselves. Usually, there is a minimum amount that needs to be spent by you using the credit card before availing the cash back offers. Make sure that you read the spend eligibility criteria carefully before applying for a cash back credit card.
  • Upper limits – Like there is a minimum requirement, most banks also have an upper limit on the maximum amount of cash back that can be availed by a cardholder or category-specific limits. These need to be carefully understood to avoid any discord with the bank.
  • Fine Print – Read the fine print. Is cash back available across all merchants or is it only with a pre-specified list of stores? Can you combine an offer along with availing a cash back?

The cash back rate is an obvious factor that must be considered when you are looking for a cash back card. It also helps to understand and analyze your spending pattern as it can be aligned to the benefits offered by the credit card issuer. With a plethora of cash back credit cards in UAE, it is possible to find a card that matches your spending style. Some banks offer a higher cash back rate on groceries and utility bills while some offer better rates for travel related transactions. This analysis can go a long way in maximizing your cash back rewards and can place the top cash back card in your wallet.

Let’s look at a few banks and financial institutions that offer cash back credit cards in UAE:

Abu Dhabi Islamic Bank [ADIB]

ADIB offers cashback credit cards to reward the card holders for using their credit cards. The bank offers two types of cash back cards:

1.ADIB Cashback Visa Platinum Card

2.ADIB Visa Cashback Card

The salient features of these cards are:

  • Cash back rate of 1% on all purchases
  • 100% of the card limit can be withdrawn as cash
  • Up to 55 days of grace period for monthly payment
  • No annual fees on four supplementary cards
  • Free access to Airport Lounges around the world

Free roadside assistance which includes:

  • Towing service within city limits [unlimited]
  • Jump start services
  • Flat tyre service
  • Lock out service
  • Fuel delivery service
  • Vehicle registration service [annual]
  • Towing service between two Emirates [thrice a year]

Majid Al Futtaim Finance (Najm)

Majid Al Futtaim offers cash back credit cards, UAE to help make the most out of your daily purchases. Three types of cash back cards are offered by them:

Najm Gold Credit Card

  • Introductory Accelerator offer of up to 10% cash back at Carrefour and 5% cashback on all other purchases made during the first 60 days of approval of the card. This is subject to a limit of a cash back of AED 500.
  • Regular cash back rates of 4% at Carrefour and 2% on all other purchases. This is subject to a limit of a cash back of AED 500 per month and a minimum spend requirement of AED 1000.
  • Cash back rewards can be automatically redeemed at Carrefour stores around the UAE through Carrefour vouchers.
  • Annual fee is AED 400

Najm Silver Credit Card

  • Introductory Accelerator offer of up to 10% cash back at Carrefour and 5% cash back on all other purchases made during the first 60 days of approval of the card. This is subject to a limit of a cash back of AED 300.
  • Regular cash back rates of 3% at Carrefour and 1% on all other purchases. This is subject to a limit of a cash back of AED 300 per month and a minimum spend requirement of AED 1000.
  • Cash back rewards can be automatically redeemed at Carrefour stores around the UAE through Carrefour vouchers.
  • Annual fee is AED 250.

Najm Blue Credit Card

  • Regular cash back rates of 2% at Carrefour and 1% on all other purchases. This is subject to a limit of a cash back of AED 200 per month and a minimum spend requirement of AED 1000.
  • Cash back rewards can be automatically redeemed at Carrefour stores around the UAE through Carrefour vouchers.
  • There is no annual fee for this card.

The common features across all three cards are:

  • 25% of the card limit can be withdrawn as cash
  • Up to 55 days of grace period for monthly payment
  • Host of privileges through Carrefour, Najm Movie Times and Najmvoyager.com.

Union National Bank [UNB]

UNB offers a cash back credit card for an annual fee of AED 250. The salient features of this card are:

  • Every time you use your card at a grocery store, pharmacy, book shop, toy store, veg and fruit market, appliances stores, gas and other retail outlets, you can receive a cash back of 3% up to AED 3,600 per year.
  • You can avail of an addition bonus of 0.5% cash back on regular transactions if you opt for revolving your credit.
  • The cash back can be redeemed anytime within two years of earning it.
  • The minimum salary requirement is AED 5000.

FAQs

Q. I want to cancel my credit card. Should I redeem the points before I cancel or can I do it later?

A. We would recommend redeeming your points before you cancel your card as most banks would not allow such a transaction. However, you may check with your bank if they can accommodate your request.

Q. Is a higher cash back rate with an annual fee better than a lower cash back rate with no annual fee?

A. This depends on your spending pattern and on the other features of the card. Usually, credit cards with an annual fee have a host of features and benefits which benefit the cardholder. Research well and look at all aspects before applying.

Q. Do I get a cash back for the shopping done using the cash back points?

A. No. Cash back is awarded only when you transact using the credit card and repay the bank. Cashback bonus transactions don’t qualify for further cash back.