Banks offer a wide range of rewards on the credit cards. cashback is one such reward system wherein the cardholder 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 cashback points for discounts, air miles, and other products/services. cashback can be provided monthly or annually depending on the policy of the bank.
Let’s look at a few banks and financial institutions that offer best cashback credit cards in UAE:(not in a specific order)
1. Abu Dhabi Islamic Bank [ADIB]
ADIB offers cashback credit cards to reward the cardholders for using their credit cards. It provides different cashback cards, amongst whichADIB Cashback Visa Platinum Card is known for the cashback provided on every usage of the card.
ADIB Cashback Visa Platinum Credit Card
- 1% cashback on each and every purchase made using the card
- 100% of the card limit can be withdrawn as cash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 via Veloce Lounge
- Free roadside assistance
- Free valet parking privileges
2. Majid Al Futtaim Finance (Najm)
Majid Al Futtaim offers cashback credit cards, UAE to help make the most out of your daily purchases. One of the best cashback card offered by Najm is Najm One Cashback Card. Benefits provided on the card are:
Najm One Cashback Card:
- Can get up to 10% cashback on using the card anywhere
- Cashback gets credited into the account automatically
- Can avail 1% cashback on spending at least AED 75
- Can save up to AED 500 as cashback
- Can avail 2 “Buy1-Get1 free” offer per month, at vox cinemas
- Can get up to 30% discount on travel bookings made on najmvoyager.com
- Can convert travel booking to EPP on 0% interest rates
- Can avail up to 30% off on dining, entertainment, shopping at selected outlets
- Can get up to 25% cash advance on the card
- Can get up to 70% of the credit limit as loan
- Get 5 free supplementary credit cards on the primary card
It provides SimplyLife Cashback Credit Card to avail cashback on spending at least AED 1000 using the card per month. Some benefits provided on the card are:
SimplyLife Cashback Credit Card
- Get 1.5% cashback on all the purchases made using the card
- There are no annual fees charged on the card
- Can get 2 movie tickets for free every month on spending at least AED 1500 using the card
- Can avail free access to Marhaba airport lounge at Dubai International airport- Terminal 1 & 3 and DWC- Al Maktoum International airport
- Can get free access to Diamond lounge at Abu Dhabi international airport- VIP Terminal
- Balance transfer facility is provided on low-interest rates
- Can convert regular payments to easy installment plans on low-interest rates for tenure up to 24months
- Can get a loan against your simply life cashback credit card
Citi offers various credit cards with a wide range of offers on each card. Citi Cashback Credit Card is one of the best cashback credit cards in UAE.
Citi cashback credit card
- Can get 3% cashback on international expenses
- Can get 2% cashback on grocery/supermarket purchases
- Can get 1% cashback on any other expense made using the card
- Cashback is credited automatically on the account
- There is no limit in cashback provided
- There is no minimum spend required to avail cashback
- Can get unlimited free access to 1000+ airport lounges any where in the world for primary and supplementary cardholders
- There are no annual fees charged on the card for the first year. From year 2 the card is free unless a minimum annual spend of AED 9,000 is not met, in which case an annual fee of AED 300 applies
- Can avail up to 20% discount on dining at select restaurants
5. Standard Chartered Bank
Amongst the various credit cards provided by the standard chartered bank, Standard Chartered Platinum Credit Card is the best that provides various privileges apart from the cashback. Some of the benefits provided on SCB Platinum Card are:
Standard Chartered Platinum Credit card
- Can gain up to 10% cashback at supermarkets
- Can get 10% cashback on utility bill payments
- Can get up to 10% cashback on school fees
- Get unlimited free access to 20 airport lounges
- Avail buy 1 get 1 free offer Costa Coffee
- Can avail 20% discount on careem rides
- Get up to 30% off on travel bookings made on cleartrip.ae
- Can avail up to 10% off on bookings made at hotels.com
Before getting a cashback credit card in UAE, you must take the following aspects into consideration:
Spend eligibility – Most banks highlight the cashback rate and the payout 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 cashback offers. Make sure that you read the spend eligibility criteria carefully before applying for a cashback credit card.
Upper limits – Like there is a minimum requirement, most banks also have an upper limit on the maximum amount of cashback 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 cashback available across all merchants or is it only with a pre-specified list of stores? Can you combine an offer along with availing a cashback?
The cashback rate is an obvious factor that must be considered when you are looking for a cashback card. It also helps to understand and analyze your spending pattern as it can be aligned with the benefits offered by the credit card issuer. With a plethora of cashback credit cards in UAE, it is possible to find a card that matches your spending style. Some banks offer a higher cashback 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 cashback rewards and can place the top cashback card in your wallet.
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.