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Titanium Credit Card
What is the RAKBANK Titanium MasterCard Credit Card?
RAKBANK Titanium Card is a new financial revolution in Credit Cards. It is a high end Card, which targets the higher income, customer segment. It is not only the FIRST Titanium Card in the region but also the FIRST Premium Credit Card which gives you the maximum rewards on your spends, with no annual fees. The Card is also powered with a host of exclusive privileges and offers that other Credit Cards cannot match. Simply, RAKBANK Titanium Card is the best and most rewarding Credit Card in the region!
What are the main features?
The revolutionary advantages of the Card are as follows:
- Up to 5% Cashback on all international retail purchase transactions and up to 3% Cashback on all domestic retail transactions. This is a permanent feature of the Card and is by far the most rewarding program amongst any loyalty programs offered by other banks today. The customer can earn Cashback anytime…anywhere, on all his retail purchases. There are no limits on the amount of Cashback the customer can earn in a month. Simply, the more the customer spends the more Cashback he earns. There is complete flexibility on what he can redeem this Cashback for.
- No annual fee ever The first Titanium Credit Card in the market, this Card is also the first Premium Credit Card with no annual fees for life. Yet another set of firsts from RAKBANK.
- Lowest interest rate RAKBANK Titanium Credit Card also offers the lowest interest rate on outstanding amount carried forward, making the Card truly the best.
- Win AED 1,000,000RAKBANK Titanium Credit Card also gives the customer chances to win AED 1,000,000 every 6 months.
- Premium offers in leading brandsCustomers can enjoy a range of exclusive offers across local leading brands, be it apparels & accessories, electronics, home furnishings, lifestyle stores, jewellery etc. Apart from the exclusive discounts, customers will also earn Cashback when they use their Card to make purchases at these outlets.
- Premium Global Titanium privileges
A host of hospitality privileges worldwide is also available to Titanium Credit Cardholders.
How do I earn Cashback on my Titanium Card?
Cashback is a permanent feature of the Titanium Card; through this feature customer can get maximum returns on their spend. This program empowers the customer with the triple advantage of:
- Maximum Value
Through this program the customer gets a guaranteed return on all purchases. Anytime… anywhere!. There is no limits to the Cashback the customer can earn. Simply the more the customer spends the more he earns. This is how it works:
| Your Spend p/m | Cashback % (Domestic Spends) | Cashback % (International Spends) |
| Up to AED 9,999.99 | 1% | 3% |
| AED 10,000 - 24,999.99 | 2% | 4% |
| AED 25,000 or more | 3% | 5% |
Note: maximum cashback of AED 1,500 would be applicable for cashback earned in any billing month
- Maximum Flexibility The Cashback is credited to the customer’s account as and when requested by the customer. It will be deducted from the amount due, should there be any outstanding amount. In case of no outstanding amount, the customer can still request for redemption and use this Cashback to make any further purchases.
- Maximum Convenience
- Balance Transfers.
- Credit Card Cheque.
- Cash advances.
- Finance Charges.
- All fees charged by the Bank on the Credit Card.
- Disputed transactions.
- All utility bill payments through IVR (Etisalat, Dewa).
By simply calling the phone banking on 04-213 00 00 anytime, any day the customer can request for redeeming his Cashback. No paper work, no filling up forms. Its simple and easy. The Cashback will be credited to the customers account within 3 working days of receiving the instructions.
So does this mean that the Titanium Credit Cardholder will pay less amount at the merchant?
This Cashback amount is over and above all the discounts offered by the merchants from time to time. By just using the Titanium Card at the merchant the customer will automatically earn Cashback. The Cashback will not be deducted from their overall bill generated at the merchant establishment. However, it will reflect in the monthly statement, post which the Cardholder can request for redemption.
Is their any minimum spend to start earning Cashback?
No, there is no minimum spend. The customer can start earning Cashback right away. Just activate your Card and start using it.
How is the Cashback program better than the other reward point programs that are available in the market today?
| RAKBANK TITANIUM CASHBACK PROGRAM | OTHER CREDIT CARDS REWARD PROGRAM |
| Customer can earn up to 3% Cashback | 0.5% - .65% return |
| Maximum redemption flexibility: Customer has the option of crediting the Cashback amount in his Card account so he can either pay off his Card bills or use it for more shopping. The choice is entirely his. | Limited redemption options at certain outlets or certain selected items. |
| There are no points/ miles to be earned. You will earn returns in absolute cash. E.g. If you qualify for the 2% tier, you get AED2/- for every AED 100 you spend | 1 point = .65 fils: For every AED 100 the customer earns 6.5 fils |
| Maximum convenience: No filling up forms etc… just one call to the Phone Banking department on 04-2130000 and the Cashback will be credited to the customer’s account within 3 working days | Lengthy process |
Is their any enrollment fees charged?
There is no enrollment fee charged as of now.
Can the customer enroll/unroll from this program?
The Cardholder gets automatically enrolled into the program on activating the card. He may un-enroll by intimating Phone Banking.
How can the customer redeem the Cashback?
By simply calling Phone Banking on 04-213 00 00 the customer can ask for the Cashback amount to be redeemed. No paperwork and no filing up forms. The Cashback amount will be credited to the customer’s account within 3 working days of receiving the instructions. The minimum redemption amount should be AED 100. The Cashback amount summary will appear in the monthly statement. Which will consist of the balance carried forward from the last statement, Cashback earned on current statement’s retails spends, Cashback redeemed during current statement period & Balance Carried forward.
What can the customer use the Cashback for?
It is totally up to the customer how he wishes to use the Cashback amount. In case there is an outstanding amount on the card when the redemption request gets processed, the Cashback will be adjusted against that, and the amount due from the Cardholder to the bank will be reduced to that extent. If no outstanding is there on the card, the Cashback redeemed will reflect as a credit balance and can be used by the Cardholder to make further purchases – and earn further Cashback! Only the Primary Cardholder can redeem this amount and it can either be credited to his account. Please note that the redeemed Cashback cannot be en-cashed or transferred to any entity/ any other card.
Will the Cashback facility be available to all Titanium Customers?
Yes, on activating the Card, the customer will automatically get enrolled for the facility.
Is the Cashback amount treated as a Card payment or only Credit to the account? What happens if the Cashback amount is credited before the payment due date?
In the case of any outstanding on the Customer’s Card, the Cashback will clear it off just like a cash payment. In the case of no outstanding the Cashback amount will reflect as a credit in the Card account.
What transactions do not earn Cashback?
The Cashback offer is applicable only on the retail transactions. Hence the below transactions will not earn Cashback:
- Balance Transfers- Cash Advances
- Credit Card Cheques
- Finance Charges
- All fees charged on the Card by the Bank
- Transactions reversed by the Merchant
- Utility bill payment through IVR like telephone bills, water and electricity bills, etc...
- Any other transaction determined by the Bank from time to time
What about Internet transactions?
Shopping or paying utility bills on the Internet will also qualify for the Cashback.
Can the customer get Cashback on reversed/refund or cancelled transactions?
No Cashback will be provided in these cases. Only retails spends will qualify for the Cashback.
Is there any minimum/maximum amount the customer can redeem at any given point of time?
The minimum amount that the customer can redeem at any instance is AED 100. There is no maximum cap on earning or redeeming Cashback.
How many times can the customer redeem?
The customer can redeem any number of times per month/year, provided that the minimum redemption amount is AED 100.
Are their any processing charges for redeeming the Cashback amount?
No.
Does the Cashback amount expire?
Unredeemed Cashback amount will expire within 24 months. Hence it is mandatory that the customer redeems accumulated Cashback in 24 months, or the same will be forfeited.
