Considering the skyrocketing inflation in UAE, who wouldn’t like to receive rewards on their daily purchases? With cashback credit card offers, residents in Dubai and other emirates can save up on their monthly expenses and get a financial net for a better life.
A lot of banks in the country offer a wide selection of perks and privileges to credit card holders. You would find more than 200 cards with incredible offers to earn rewards and points every time you make a purchase. You can potentially earn a certain amount of cashback when you swipe your card for transactions at supermarkets, hotels, resorts, retail outlets, and leisure attractions. The earned amount can be redeemed for exclusive discounts and loyalty benefits when shopping or dining at designated spots.
What exactly is a Cashback Credit Card?
Banks acknowledge their loyal customers through rewards and privileges to reinforce their commitment to their products. These loyalty schemes motivate the customers to spend more, save more, and stay dedicated to the organization.
Cashback credit cards work in a similar way and award customers with a percentage of their spending. Consider a credit that offers you 10% cash back on all grocery spending. You use this card in a hypermarket and spend AED500 in a week. The bank will reward you with an AED50 cashback credit (10% of AED500) in the next billing cycle. It means you have saved AED50 on your weekly grocery bill.
Offers like these help you save costs on your monthly expense and lessen the financial burden off your shoulders.
Picking out the credit cards with the best cashback offers in UAE
With a range of options available in the market, sometimes it can be overwhelming to sign up for one specific credit card. In this blog post, you will find data-driven recommendations and authentic facts to pick out the best cashback credit cards in UAE.
Picking out a single credit card that works well for your personal needs isn’t as easy as it may sound. Consider the following points when signing up for a particular credit card to earn monetary rewards on your spending.
- Does the card suit your monthly income?
- What are welcome offers and bonuses for first-time users?
- What is the process to redeem the cashback? Is it an automated process or needs to be done manually?
- What percentage the bank is offering as cashback? What is the subscription fee?
- Is there a monthly cap?
- What is the minimum amount to be spent to earn the reward?
- Does the cashback amount expires if not redeemed on time?
The answers to all the above queries will determine what option works best for you. While credit cards are not recommended for use to save money, they can however be a source of great financial independence if used wisely. Pay your installments on time, clear your pending payments, and hold yourself from impulsive buying to avoid fines and getting default.
Now that you have a clear understanding of how a cashback reward scheme works, let’s dig into finding some of the best credits with attractive cashback offers in UAE.
Best Cashback Credit Cards for Grocery Shopping
Dubai First Credit Card
Dubai First Credit Card offers a 6% cashback reward when using the card for shopping for groceries at select stores. There is a monthly cap of AED400 a month with no minimum spend requirement. The bank is offering an AED350 bonus for new customers. Earn 3% cashback when shopping for groceries online and 1% cashback on all other spends.
RAK Bank Credit Card
RAK bank is offering a 5% cashback when swiping the Titanium Credit card for grocery shopping at all supermarkets in UAE with a monthly cap of AED150. There is however a minimum monthly spend of AED 5000 with no annual fee.
Emirates Islamic Plus Credit Card
Enjoy 10% cashback on grocery shopping, education, and dining with the Emirates Islamic Cashback Plus credit card. Enjoy the service with no annual subscription fee and redeem your rewards within seconds with the dedicated online banking app. earn a maximum of AED200 cashback a month with a minimum spend of AED 17500.
New cardholders can receive AED 750 as a joining bonus until 31st December 2022.
Other popular banks offering cashback on grocery shopping include:
- FAB Cashback Credit Card: 5%
- Citibank Cashback Credit Card: 2%
- Mashreq Cashback Credit Card: 1%
- HSBC Cashback Credit Card: 2%
- Standard Charted Cashback Credit Card: 1%
Best Cashback Credit Cards for Fuel Spends
HSBC Cashback Credit Card
Save up on your monthly fuel costs with HSBC Cashback Credit Card offering a 5% cashback reward on fuel transactions and other miscellaneous spends. To sign up you must have AED10, 000 as a monthly salary without any need to open an account in the bank.
Earn AED300 as a welcome bonus and get all your cashback transferred into your bank account automatically.
There is no cap for the cashback to be earned each month and no annual fee for the first year.
Citibank Cashback Credit Card
Citibank is offering its customers a 1% cashback offer on money spent on fuel using their cashback credit card. Earn AED200 as a joining bonus when you spend AED5000 during the first three months.
There are no monthly caps and minimum spending limits. You should have a monthly salary of AED8000 to apply for the credit card.
Enjoy the service for free during the first year and get a subscription fee waiver if you spend AED9000 a year.
Standard Chartered Cashback Credit Card
With Standard Chartered Cashback Credit Card, earn 1% cashback on total cost when making payments at gas stations. You must have a monthly salary of AED8000 to make an application for the card. There is no fee for the first year however an annual subscription fee of AED525 will be charged from the second year onwards.
You would have to claim to get the cashback transferred into your account.
Other popular cashback credit cards available in UAE for fuel transactions include:
- FAB Cashback Credit Card: 1%
- Mashreq Cashback Credit Card: 0.33%
- RAK Titanium Credit Card: 0.25%
- HSBC Cashback Credit Card: 5%
- Dubai First Cashback Credit Card: 1%
Best Cashback Credit Card offers for School Fees
Standard Chartered Titanium Credit Card
Get 10% cashback on your total school fees payment with a 0% interest-free installment plan. Pay your kids’ school fees using a Standard Chartered Titanium card and earn 10% cashback directly into your account. You can also pay the fee in installments spread over a period of 12 months with absolutely zero interest.
There is an annual cap of AED 4800 with no minimum spend limit. Enjoy free service for the first year and pay an AED525 annual fee from the second year onwards.
NBF Credit Card
Get a 3% cashback on school fees and other education expenses with the NBF credit card cashback offer. Cardholders can also enjoy a 0% interest rate when paying the school fees in installments.
CBD Super Saver Cashback Credit Card
With a CBD credit card earn up to 10% cashback on school fees payment with a maximum cap of AED150 per month. There is a minimum spend limit of AED3000 a month with free service for the first year.
Other prominent cashback credit offers on educational transactions include:
- HSBC Cashback Credit Card: 5%
- Al Hilal Cashback Credit Card: 3%
- Emirates Islamic Cashback Credit card: 10%
Best Cashback Credit Card offers for Utility Bills
FAB Cashback Credit Card
FAB Cashback Credit Card offers a 5% cashback on all sorts of utility bill payments made using the credit card. You can earn a maximum amount of AED150 each month along with a welcome bonus of AED300.
There is an annual subscription fee of AED 315 and claims have to be made for the transaction of the cashback into your account.
Citibank Cashback Credit Card
Citibank is offering a 1% cashback on all utility bill payments for all credit cardholders. You can enjoy a welcome bonus of AED200 with a free annual subscription. The exciting thing is that are no maximum caps and no minimum spend limit to avail of the cashback offer.
Get the earned amount as an automatic transaction directly into your account.
Standard Charted Cashback Credit Card
Enjoy 1% cashback on all your utility bill spends with no cap on the maximum amount to be earned as cashback.
Get a whooping AED 500 as a welcome bonus along with incredible offers on entertainment, dining, and retail.
Enjoy free service for the first year and pay AED525 from the second year onwards.
Other popular cashback credit cards for utility bill transactions include:
- FAB Cashback Credit Card: 5%
- RAK Titanium Credit Card: 0.25%
- HSBC Cash plus Credit Card: 0.5%
- Dubai First Cashback Credit Card: 0.25%
- Mashreq Cashback Credit Card: 0.33%
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