Home Blog Page 2

5 Hidden Credit Card Fees in UAE – Compare4Benefit

0

You might not be aware of some of the hidden credit card fees in UAE lurking in some corners.

The best way to avoid these hidden charges is to be aware of them before you use your credit card in UAE.

Here are 5 of the hidden credit card fees in the UAE:

1. Cash advance fee

When you’re in the midst of an emergency and need to borrow some money, credit cards can seem like a blessing but there are some drawbacks that you should take into account.

The amount you can borrow depends on your credit limit, but it is usually between 50% and 80% of your credit limit.

In the UAE, the cash advance fee that banks and credit card companies levy is 3 percent of the amount withdrawn, with VAT included.

In addition to this charge, some banks also charge a higher monthly interest rate on cash advances, which can be 0.25 to 0.75 percent higher than the rate on regular retail transactions.

2. Over-limit fee

If you’ve exceeded your credit card limit, you may see a hefty new charge on your next statement. This fee called an “over-limit fee,” is a penalty for going over your credit limit. It can range from AED 200 to AED 300, depending on your card provider.

Not only will exceeding your card limit cost you in fees, it will also hurt your credit score. The best way to avoid these consequences is to keep a close eye on your credit card usage.

3. Credit shield

A credit shield is an insurance cover that can help repay a cardholder’s outstanding balance in case of death, disability, critical illness, or involuntary loss of employment. However, it doesn’t insure against credit card fraud.

The credit shield fee (or monthly premium) varies from 0.5 percent to 0.99 percent of the outstanding balance across most banks in the UAE.

Despite its benefits, the credit shield isn’t free – like most other perks, it comes with a fee.

4. Balance transfer fee

If you’re looking to reduce your credit card debt, you may be considering a balance transfer. This is when you transfer your current outstanding balance to another credit card with a lower or even zero percent interest rate for a limited period of time.

Balance transfers can be a great way to pay off your debt faster and more effectively. However, there are some fees to be aware of before making the switch.

Banks usually charge a processing fee for balance transfers, which can be 1 to 3 percent of the amount transferred. There may also be additional cancellation and early settlement fees.

5. Dynamic currency conversion

Many credit card holders are unaware that their card providers charge them a foreign transaction fee every time they use their card overseas. While this fee isn’t immediately obvious, it’s important for cardholders to be aware of this cost.

While using your credit card abroad, you may be asked by the merchant if you would like to pay in the local currency or your home currency. You might choose the latter because it’s familiar and you can see the actual cost displayed in Dirham. However, this would be a mistake! You would be charged an unfavorable currency exchange rate determined by a foreign third-party operator, which would unnecessarily drive up the cost of your purchase. And you would still be paying the foreign transaction fee determined by your card provider.

FAQs

  1. How do I avoid credit card fees?

The easiest way to avoid finance charges is to pay your balance in full and on time every month. Credit cards are required to give you what’s called a grace period, which is the span of time between the end of your billing cycle and when the payment is due on your balance.

2. How do I avoid credit card fees?

The easiest way to avoid finance charges is to pay your balance in full and on time every month. Credit cards are required to give you what’s called a grace period, which is the span of time between the end of your billing cycle and when the payment is due on your balance.

3. What are the hidden costs Who pays them?

Industrial development has many “hidden costs” in the form of damage to the environment and health problems for people. These hidden costs are usually “paid for” by the people who must live with the harm from toxins, not by the industries that cause this harm.

4. Is it legal to charge credit card fees?

Credit card surcharges are optional fees added by a merchant when customers use a credit card to pay at checkout. Surcharges are legal unless restricted by state law. Businesses that choose to add surcharges are required to follow protocols to ensure full transparency.

5. How do you explain a convenience fee?

A convenience fee is levied by a merchant for offering customers the privilege of paying with an alternative non-standard payment method. Merchants can process convenience fees in all 50 states. A surcharge is levied by a merchant for customer purchases made with a credit card.

6. How to avoid interest charges?

Paying your bill in full every month is the simplest way to avoid interest. If you can’t afford to pay your bill in full, reduce your spending or consider a 0% APR card that doesn’t charge interest for up to 21 months.

 

13 Airport Lounge Access credit cards in UAE 2023- Compare4Benefit

0

Need to travel? Want a card to cover your expenses? You can find some good Airport Lounge Access credit cards in UAE that have great benefits and rewards. This page will tell you about the credit cards that have airport lounge access and how they work.

For any traveler, having access to an airport lounge can make a huge difference – especially if you have to make multiple flight connections on a long trip. With access to food and drink, a quiet place to rest, entertainment, and even a shower, you can arrive at your destination feeling refreshed instead of exhausted.

Airplane travel can be rough, no matter how much you fly. If you’re looking to make your next flight a little more comfortable, consider getting an airport lounge credit card in UAE that offers access to airport lounges.

UAE credit cards that offer lounge privileges usually include them in the annual fee, but there are some distinctions in the terms of access. Some cards allow unlimited access to specific airport lounges while others provide limited access per year.

There are plenty of credit card issuers that provide their cardholders with complimentary access to airport lounges in the UAE.

The Best Credit Cards With Airport Lounge Access

Travel benefits cards can offer a lot more than just discounts on airfare. Many also come with amazing perks like hotel booking discounts and access to airport lounges. Some cards even offer unlimited access to airport lounges throughout the year.

If you’re looking for a card with great travel benefits, here is a list of the top airport lounge access credit cards UAE.

Credit Card NameAnnual ChargesLounge Access
ADIB Dana MastercardAED 299Unlimited
ADIB Etisalat Visa Signature Credit CardAED 1199Unlimited
ADCB Touchpoint PlatinumAED 6303 access per annum
ADCB Lulu Platinum Credit CardFree3 free access per annum
HSBC Advance Credit CardFreeUnlimited
HSBC Black Credit CardAED 1500Unlimited
CitiBank Ultimate Credit CardAED 800Unlimited
Emirates NBD Dnata Credit CardAED 500Unlimited
Standard Chartered Visa Infinite Credit CardAED 1575Unlimited
ADCB Travellers Credit CardAED 1050Unlimited
ADIB Booking.com Infinite Credit CardAED 2000Unlimited
Emirates NBD Menchester United Credit CardAED 250Unlimited
FAB Abu Dhabi Titanium Credit CardAED 0Unlimited
RAKBANK Air Arabia Credit CardAED 0Unlimited

The following are some of the best airport lounge access credit cards available in UAE, along with a look at their features and benefits.

Best overall Airport Lounge Access Credit Card

1.ADIB Dana MasterCard Credit Card

Abu Dhabi Islamic Bank has a range of airport lounge access credit cards that come with great travel benefits. The ADIB Dana MasterCard is one of the best options, offering worldwide airport lounge access.

But that’s not all – the bank also offers other great benefits to suit the needs of its customers. For example, you can get cash back on various local and international expenses as a loyalty benefit.

ADIB Dana MasterCard

  • Minimum Salary:5000
  • Annual Fee:299
  • Dining Discounts
  • Airport Lounge Access
Apply Now

 

Here’s a list of features and benefits provided 

  • Dana MasterCard credit card offers free Airport lounge access to over 900 premium airport lounges globally.
  • On each international expense, you get 1.25% cash back and 0.8% cash back on every local expense.
  • You get a 10% discount on airline tickets through Cleartrip.com.
  • As a cardholder, you also get up to a 20% discount on hotels and stay worldwide.
  • ADIB Dana MasterCard also provides you access to Buy1Get1 offers.
  • Using the credit card, you can receive up to 3 complimentary roadside assistance every year.
  • The credit card also offers car rental bookings at discounted rates.

2. ADIB Etisalat Visa Signature Credit Card

The ADIB Etisalat Visa Signature credit card is perfect for people who love to travel. With this card, you can enjoy discounted air tickets, hotel stays, and other travel conveniences like car rental and complimentary airport lounge access. You’ll also get great joining offers and cashback on every credit card purchase.

  • Minimum Salary:20000 AED
  • Annual Fee: 1199 AEDADIB Etisalat Visa Signature Card
  • Airport Lounge Access
  • Dining Discounts
  • Valet Parking
Apply Now

Key features and benefits 

  • When signing up for the credit card, you get a joining bonus of 100,000 Etisalat Smiles points.
  • You can redeem these points to avail of extra discounts on air tickets and hotel bookings across the globe.
  • As an Etisalat Visa Signature credit cardholder, you get free lounge access to over 850 premium airport lounges worldwide.
  • Using the credit card, you can enjoy up to 4 valet parking every month.
  • The card also offers complimentary roadside assistance for your complete peace of mind.
  • With ADIB credit cards, you get access to instant funds through online and mobile banking.

3. ADCB Touchpoint Platinum Credit Card

The ADCB Touchpoint Platinum credit card offers a variety of benefits for those who enjoy shopping, living a luxurious lifestyle, and traveling. Some of these benefits include discounts and zero to low annual fees.

ADCB Touchpoints Platinum Credit Card

  • Minimum Salary:15000 AED
  • Annual Fee: 630 AED
  • Airport Lounge Access
  • Dining Discounts
  • Movie Discounts
Apply Now

 

Following are the features and benefits 

  • Using the credit card, you get unlimited access to over 25 Mastercard airport lounges across the globe. Additionally, you get up to 3 complimentary lounge access across 1000 airports worldwide via Lounge key.
  • As a cardholder, you can access over 200 airport restaurants with exclusive offers and discounts.
  • ADCB Touchpoint Platinum credit card offers up to 30% discount on travel and hotel bookings through Cleartrip.com.
  • While traveling anywhere around the world, you get a up to 20% discount on car rental fares.
  • In addition, you get exclusive access to Buy1Get1 offers across numerous merchants and shopping outlets in UAE.

4. ADCB Lulu Platinum Credit Card

Abu Dhabi Commercial Bank credit cardholders can enjoy plenty of perks. For example, using the Lulu Platinum credit card gives you Lulu Points to redeem for sweet deals. Plus, the card comes with excellent travel benefits, like access to airport lounges near and far. And on top of all that, the card is very affordable with low finance charges and $0 annual fee.

ADCB LuLu Co- Brand Platinum Credit Card

  • Minimum Salary: 15000 AED
  • Airport Lounge Access
  • Dining Discounts
  • Special Discounts
Apply Now

 

Following are the key benefits

  • The card offers unlimited access to over 25 regional and international airport lounges. Moreover, you get up to 3 complimentary access to over 1000 international airports via Lounge key.
  • Using the credit card for daily expenses, you earn Lulu points and every 5000 Lulu points are worth around AED 50.
  • Being a cardholder, you get exclusive access to Buy1Get1 offers at over 900 different merchants and shopping outlets.
  • Not only travel and lifestyle, but you also get an attractive 20% discount on online food delivery through Talabat.

Best luxury airport lounge access card

5. HSBC Black Credit Card

This credit card offers free MasterCard lounge access to premium airport lounges across the world for you and your supplementary cardholders. This benefit can be availed by you as well as the supplementary cardholders along with a free accompanying guest each using LoungeKey Program.

  • Minimum Salary:15000 AED
  • Annual Fee: 15000 AED
  • Airport Lounge Access
  • Golf Discounts
  • Movie Discounts
Apply Now

 

Following are the features and benefits

  • Offering various travel benefits, the Black credit card allows you free airport lounge access to over 1000 airport lounges worldwide.
  • When booking flight tickets using HSBC black credit card, you can avail of a 10% discount on local and international flight tickets. Additionally, you get a 15% discount on British Airways flight tickets.
  • You can also avail yourself of 10% hotel booking rates through Agoda and Expedia.
  • Using the credit card, you get exclusive access to Priceless Cities offering unmatched travel experiences across various cities in the world.

6. Emirates Citibank Ultimate Credit Card

Taking advantage of free MasterCard lounge access at more than 1,000 airport lounges around the world is a great way to make the most of your time while traveling. You can get free access for yourself and one guest on each visit. Both primary and supplementary cardholders can enjoy this benefit through the LoungeKey Program. Just visit the website or mobile app of LoungeKey for a list of airport lounges.

Emirates Citibank Ultimate Credit Card

  • Minimum Salary: 18000 AED
  • Annual Fee: 800 AED
  • Airport Lounge Access
  • Balance Transfer
Apply Now

 

Following are the key benefits

  • Finance Charges per month: 3.25 percent
  • 25 Skywards Miles for each USD 1 international spend
  • 1 Skywards Mile for each USD 1 domestic spend

Best airport lounge access card for frequent travelers

7. Standard Chartered Visa Infinite Credit Card

The Standard Chartered Visa Infinite Credit Card comes with a lot of great benefits, one of which is unlimited free access to airport lounges across the globe. All you need to do to take advantage of this benefit is to present your Visa Infinite Card at any participating lounge you visit. You and your accompanying guest will be able to enjoy free refreshments as well as an exclusive seating area.

Standard Chartered Visa Infinite Credit Card

  • Minimum Salary: 30000 AED
  • Annual Fee: 1575 AED
  • Airport Lounge Access
  • Golf Discounts
  • Health Club Membership
Apply Now

 

Following are the features and benefits 

  • Using the credit card, you can avail of free airport lounge access to over 1000 airport lounges worldwide.
  • To secure your travel, you get travel insurance for up to 90 days of the tour.
  • Booking hotels through Agoda using the Signature credit card, you get up to a 12% discount on selected properties.
  • The credit card offers up to 35% off on Avis car rental worldwide.
  • Using this credit card, you can enjoy exclusive benefits at over 900 premium hotels across the globe through Visa luxury hotel collection privileges.

8. ADCB Travellers Credit Card

ADCB comes up with the ADCB Traveller credit card that offers a range of travel benefits. One of the most prominent features that the card offers is zero international transaction charges. As a cardholder, you get exclusive access to numerous offers on flight and hotel booking, including complimentary access to premium airport lounges.

ADCB Traveller Credit Card

  • Minimum Salary: 20000 AED
  • Annual Fee: 1050 AED
  • Airport Lounge Access
  • Golf Discounts
  • Hotel Discounts
Apply Now

 

Following are the key benefits 

  • You receive 2 Touchpoints for every local expense through the Travellers credit card.
  • With the ADCB Travellers credit card, you get free airport lounge access to over 900 airport lounges across the globe.
  • Using the credit card for flight booking through Cleartrip.com, you can avail yourself of up to a 20% discount. The maximum discount under the offer is capped at AED 5,000.
  • You can also avail yourself of up to 6 complimentary nights when booking hotels through an ADCB credit card. However, you need to meet the annual spending limit to be eligible for the offer.
  • ADCB Travellers credit card also provides multi-trip travel insurance to secure your journey against travel accidents and inconveniences.

9. ADIB Infinite Credit Card

ADIB is proud to offer a new flagship credit card for travelers and frequent flyers. This card comes packed with travel benefits, loyalty rewards, shopping offers, and dining discounts across various outlets in the UAE and abroad. Plus, you’ll get an exclusive discount on hotel and flight bookings. So whether you’re planning your next big trip or just looking to save on your everyday spending, this card is definitely worth considering.

ADIB Booking.com Infinite Card

 

  • Minimum Salary: 30000 AED
  • Annual Fee: 2000 AED
  • Airport Lounge Access
  • Golf Discounts
Apply Now

 

Following are the key benefits 

  • For every expense, you receive 3 ADIB reward points for every  AED you spend in UAE. The offer is valid on various international expenses in USD.
  • The card offers free airport lounge access to more than a thousand airport lounges in UAE.
  • When reserving your flight tickets through Booking.com, you get up to 7% instant cashback.
  • The card also offers multi-trip travel insurance that secures your trip against travel inconveniences and accidents for up to a 90-day period.
  • You can also avail yourself of up to 10% discounts while booking hotels through Booking.com

10. FAB Abu Dhabi Titanium Credit Card

FAB Titanium credit card holders can enjoy free airport lounge access with their card. This card also offers loyalty benefits and discounts on every card expense. The cardholder can also get chauffeur rides at a discounted rate.

FAB - Abu Dhabi Titanium Credit Card

  • Minimum Salary: 5000 AED
  • Annual Fee: 500 AED
  • Airport Lounge Access
  • Special Discounts
Apply Now

 

Following are the key benefits 

  • Using FAB Abu Dhabi Titanium credit card, you can receive up to 2.5 FAB rewards for every Dirham you spend locally or internationally.
  • Additionally, for all expenses in Abu Dhabi, you earn a 25% additional reward.
  • With your FAB credit card, you avail of free MasterCard lounge access to over 10 VIP airport lounges in the Middle East.
  • You can enjoy up to 15% discounts on Avis car rental using your credit card.
  • Using the credit card, you can avail yourself of over 600 offers via Mastercard Buy1Get1 Offers across multiple countries.
  • With the FAB Titanium credit card, you can enjoy a 10% discount on top brands when shopping through SHOP SMART.

Best Lounge Access and Welcome Bonus Combo

11. RAKBANK Air Arabia Platinum Credit Card

 RAKBANK is known for its customer-oriented credit card products. The RAKBANK Air Arabia Platinum credit card is one of these cards, offering excellent travel privileges. Not only is this card affordable, but it also offers many benefits for shopping, lifestyle, dining, and entertainment expenses.

RAKBANK - Air Arabia Platinum Credit Card

  • Minimum Salary: 5000 AED
  • Annual Fee:400 AED
  • Airport Lounge Access
  • Dining Discounts
  • Airport pick up/drop
Apply Now

 

Following are the key benefits 

  • With the Air Arabia Platinum credit card, you receive up to 1.5 reward points for every AED 5 you spend.
  • Air Arabia credit card provides unlimited MasterCard lounge access to over 10 Marhaba and CAC lounges and over 15 regional airport lounges across the MENA region, Egypt, and Jordan.
  • In addition, you receive up to 6 free airport pick-up and drop services every year.
  • You can also avail of up to 30% discount for flight and travel booking through Cleartrip.com.
  • With a RAKBANK credit card, you can enjoy up to a 10% discount on rental car services anywhere in the world.

12. AMEX The American Express® Gold Credit Card

AMEX Credit Cardholders can enjoy free access to airport lounges in the Middle East region. Most AMEX Credit Cards in UAE offer this benefit, with Supplementary Card holders also eligible to enjoy complimentary lounge benefits. Guests accompanying cardholders will be charged a small entry fee.

The American Express® Gold Card

  • Minimum Salary: 15000 AED
  • Annual Fee: 395 AED
  • Airport Lounge Access
  • Dining Discounts
  • Airport pick up/drop
Apply Now

Features are

  • 24/7 Customer service.
  • You need to pay the bill in full or in installments.
  • Worldwide customer care and emergency card replacement are available with this card.
  • You should be of 21 years and above to avail this card.
  • You should have an annual income of AED 1,80,000 and AED 2,75,000 for self-employed.
  • Exclusive worldwide offers for travel, leisure, and dining.
  • Get access to the membership rewards loyalty program.
  • The Forex rate on this card is 2.8%
  • The annual interest rate of 39%.
  • Get 56 days of interest-free days.
  • The annual fee applicable on this card is AED 395. Plus an AED 100 annual fee for enrollment into the Membership Rewards Loyalty Program.

Best airport lounge access card for occasional travel

13. Mashreq Platinum Elite Credit Card

 Mashreq cardholders can enjoy 8 complimentary visits to an airport lounge every year, but only if they’ve paid their annual fees. With this benefit, they can relax in the lounge before their flight and take advantage of amenities like complimentary refreshments, Wi-Fi, and charging stations.

Mashreq Platinum Elite Credit Card

  • Minimum Salary: 7000 AED
  • Annual Fee: 0 AED
  • Airport Lounge Access
  • Dining Discounts
  • Cash Back Offers
Apply Now

 

Some key Features of this card are,

  •  Earn AED 1000 cashback for new customers
  • 20% cashback on Zomato, Netflix, Talabat, Noon, Etisalat, iTunes, Du, Dubainow
  • Earn up to 5 Salaam Points per AED on dining, supermarkets, etc.
  • Redeem Salaam Points for Skywards Miles
  • 8 Free access to Fitness First clubs

FAQs

 1. Is access to airport lounges provided for free on using these credit cards?

By using the credit cards listed above, you can gain free access to many different airport lounges!

2. Can I get access to any airport lounge?

The airport lounge that the cardholder can access depends on which credit card they have. You can ask your credit card provider about which lounges you can access with your card.

3. Do I need to take any prior appointment to get entry to the lounge?

  At some of the lounges, you can just walk in. However, it is recommended to contact the lounge customer care before making a visit. This way, you can make sure that the lounge will be able to accommodate you.

4. For how long I can stay at the airport lounge?

Most of the airport lounges provide a maximum of 4 hours’ stay.

5. Are kids allowed to the lounge?

 Yes. Kids are allowed to the lounge but they will be considered as a guest accompanied at some of the lounges.

 6. Can I get food and drinks for free at the lounge? 

 Some of the airport lounges provide snacks and refreshments as complimentary.

10 Grocery Credit Cards in UAE 2023 (January Updated) -Comapre4Benefit

0

The right choice of credit cards for grocery shopping in UAE can help you save your money. Credit cards these days offer benefits.

You can save money by spending on groceries every month in UAE. Groceries are an inalienable part of our lives. Anything can be cut, but not on groceries. Grocery shopping is a necessary component of our daily routine.

What do you buy? How much did you buy? Where do you buy groceries from?

Answers to these depend solely on you. However, it is true that whatever you buy or how much you buy or from wherever you buy your groceries you can save your money with the right choice.

It’s just a matter of choice. The choice of credit cards you use to pay for your groceries.

Credit cards are not only an easy way to handle your money. They can also help you to earn money or to save money. Banks in UAE offer you different benefits with each credit card. So it’s important to know about these benefits of spending your money smartly and wisely.

The right choice of the credit card used to spend on groceries can help you save your money. Credit cards these days offer benefits like cashback offers, discounts, etc.

Related: BEST REWARDS CREDIT CARDS IN UAE

Why miss a golden chance when you are the one who makes choices?

Is making a choice difficult when you have a lot of choices in front of you?

We are here to help you. We have shortlisted 10 Best Grocery Credit Cards in UAE. Here you go.

10 Best Grocery Credit Cards in UAE

1Citi Bank Cashback Credit Card
2Emirates Islamic Cashback Plus Credit Card
3FAB Cashback Card
4CBD Super Saver Credit Card
5RAKBANK World Credit Card
6DIB Consumer Reward Card
7Standard Chartered Manhattan Platinum Card
8Emirates NBD WebShopper Credit Card
9Dubai First Cashback Credit Card
10ADIB Cashback Visa Platinum Card

Now let’s see each one of these in detail.

1. Citi Bank Cashback Credit Card

Citi Cash Back Credit Card

1Minimum IncomeAED 8000/month
2Annual FeeAED 0 (Year 1)
3Age21 or older

Citi Bank Cashback Credit Card offers you great cashback on all your purchases made using the card.  If you have a Citi Cashback Credit Card, you will be eligible for a variety of discounts and special offers at the bank’s partner stores.

Customers also get discounts on EMI for a variety of products at numerous electronic stores, shopping outlets, retailing chains, and online purchases. Regarding the annual fee, if the minimum spending requirements are met the credit card is free for the second year.

ATTRACTIONS:

  • 3% cashback on non-AED spend
  • 2% cash back on groceries
  • 1% cashback on all other spends
  • Free for life
  • Airport Lounge Access
  • Voucher Skout credits

2. Emirates Islamic Cashback Plus Credit Card

Emirates Islamic Cashback Plus Card

Minimum IncomeAED 5000/month
Annual FeeAED 313.95
Rate3.49%

Hundreds of thousands of suitors and lovers have flocked to the Emirates Islamic Cashback Plus Credit Card, which has continuously been one of the best-selling cards in the UAE region.

This credit card offers 10% cashback on all purchases, including but not limited to grocery purchases, education, dining, telecom bills, and more.

ATTRACTIONS:

  • Up to 10% cashback on spends
  • RTA No Chip
  • Airport Lounge Access
  • Complimentary Reel Cinema Movie Tickets
  • Complimentary Golf
  • Purchase Protection
  • Cash on Call facility
  • Free Supplementary Cards

3. FAB Cashback Card

Minimum IncomeAED 5000/month
Annual FeeAED 315
Rate3.50%

FAB Cashback credit card that rewards you with 5% cash back on groceries, fuel, and utility. With 5% cash back at the supermarket (including online), the fuel station, and on utility bills, you’ll get the best deal on your everyday spending.

On request, your cashback will be calculated monthly and awarded on the statement date.

ATTRACTIONS:

  • AED 300 cashback welcome bonus
  • 5% Cashback on your everyday spending
  • 2% Cashback on non-AED spending
  • Shop Smart for Online Purchases
  • Movie Tickets from just AED 15
  • Careem Chauffeur Services
  • Buy 1 Get 1 Free Offers
  • Airport Lounge Access
  • Travel Discounts

4. CBD Super Saver Credit Card

CBD - Super Saver Card

Minimum IncomeAED 8000/month
Annual FeeAED 0( Year 1)
Rate3.45%

Earn up to 10% cash back on the following daily retail purchase categories with a monthly limit of AED 150 per category. To start receiving cashback, you must spend a minimum of AED 3000 per month in all categories.

This includes accounts payable (telecom bills, utility bills, and government-linked payments), educational payments (schools, colleges, and universities), grocery stores (supermarkets), and transportation needs (fuel).

ATTRACTIONS:

  • Up to 10% cashback on everyday spends
  • Free Valtrans Valet Parking
  • Discounts on Movie Tickets
  • Airport Lounge Access
  • Careem Rides, Food & Shop, Bike Benefits
  • Purchase Protection
  • Multi-trip Travel Insurance
  • Free For Life Supplementary Cards
  • 24 * 7 Assistance
  • Entertainment Offers

5. RAKBANK World Credit Card

RAKBANK - World Credit Card

Minimum IncomeAED 20000
Annual FeeAED 0
Rate3.25%

Every day, the RAKBANK World Credit Card provides you with a world of rewards, privileges, and benefits. The RAKBANK World Credit Card goes above and beyond what you might expect from a credit card, providing great cashback on all of your purchases.

There is also a slew of travel perks, lifestyle bonuses, and unbeatable savings to be had.

ATTRACTIONS:

  • Upto10 % Cashback on Supermarket
  • Airport Lounge Access
  • Buy 1 Get 1 Offers
  • 50% Cashback on Cinema
  • Up to 10% Cashback on Travel
  • 5% Cashback on International Spends
  • Free Supplementary Cards
  • Dining Discounts
  • Purchase Protection
  • Secure Wallet

6. DIB Consumer Reward Card

DIB Consumer Reward Credit Card

Minimum IncomeAED 5000

Annual FeeAED 150
Rate3.25%

DIB Consumer Reward Card is an everyday convenience paired with everyday savings when it comes to supermarket and hypermarket purchases, bills, fuel, and more.

Dubai Islamic Bank and Dubai’s Department of Economic Development jointly own this credit card. This card is packed with distinctive features and rewards, making it great for everyday use.

ATTRACTIONS:

  • 3% Cashback on Supermarket & Hypermarket Purchases
  • 3% Cashback on Automobile Servicing
  • 3% Cashback on Etisalat & Du Bill Payments
  • 3% Cashback on Fuel Spends
  • 3% Cashback on Salik and NoI Recharges
  • 3% Cashback on School Fees

7. Standard Chartered Manhattan Platinum Card

Minimum IncomeAED 5000
Annual FeeAED 0
Rate3.45

Users of the Standard Chartered Manhattan Credit Card have a better time shopping, dining, and traveling. You can get 1% cashback on all domestic spending.

You can also avail of infinite cashback on all AED and non-AED purchases with zero minimum expenditure.

ATTRACTIONS:

  • Buy 1 Get 1 at Costa Coffee
  • Zero Cash Advance Fees
  • Up to 8% off at Hotels.com
  • Medical & Travel Coverage
  • Buyer’s Protection
  • Globally Accepted Shariah-compliant Card
  • 20% Discounts with DragonPass
  • Golf Benefits
  • Reward Points for every AED spend

8.Emirates NBD WebShopper Credit Card

Emirates NBD WebShopper Credit Card

Minimum IncomeAED 5000
Annual FeeAED 50
Rate2.99%

The card is designed exclusively for online shopping. Another ground-breaking effort from Emirates NBD, this card is designed for online purchases and offers optimum security so you can shop with confidence. You can also use a variety of alternative financial services to fulfill your needs.

When you use your Emirates NBD WebShopper Credit Card for all of your online purchases, you will earn Plus Points. For every AED 200 spent you will receive 1 Plus Point. Plus Points can also be exchanged for Frequent Flyer Miles or cash.

ATTRACTIONS:

  • Exclusively for Online Shopping
  • Free SMS Alerts
  • 24 Hour Assistance
  • Online Access
  • Free 24/7 Roadside Assistance
  • Double Secure
  • Discounts on Flights and Hotel Bookings
  • Discounts on Utility Payments
  • Discounts on Tickets for Entertainment Venues

9. Dubai First Cashback Credit Card

Dubai First Cashback Credit Card

Minimum IncomeAED 10000
Annual FeeAED 399
Rate3.50%

You might wonder, what’s better than cashback? Only the new Dubai First Cashback Credit Card gives you unlimited, greater, and quicker cashback. There are no minimum spending requirements or restrictions on where you can shop.

Accumulate points and redeem them through the Dubai First App. Using this credit card, get a staggering 5% reward on grocery and online shopping, plus 1% on anything else.

ATTRACTIONS:

  • AED 350 Bonus Cashback Welcome Offer
  • 5% Cashback on Groceries and Online Purchases
  • 0% Interest Easy Purchase Loans
  • Access to Airport Lounges
  • 10% Additional Cashback on 1500+ e-commerce sites with Shopsmart
  • Buy 1 Get 1 Offers on Leisure, Entertainment, and More
  • Up to 30% Off on Your Travel with Cleartrip

10. ADIB Cashback Visa Platinum Card

ADIB Cashback Visa Platinum Card

Minimum IncomeAED 10000
Annual FeeAED 1000
Rate3.10%

ADIB Cashback Visa Platinum Card is a cashback credit card that provides flat cashback on all card transactions done anywhere in the world. It comes with a slew of perks, including cashback, roadside assistance, gratis valet parking, and access to airport lounges.

Cash withdrawal, a complementary grace period, and additional cards are all available to cardholders.

ATTRACTIONS:

  • 1% Cashback Anywhere Anytime
  • 100% Cash Withdrawal
  • 4 Free Supplementary Cards
  • Complimentary Roadside Assistance
  • Free Airport Lounge Access
  • 0% Easy Payment Plan
  • Balance Transfers
  • Dining Discounts
  • Valet Parking
  • Tap and Pay

That’s it. But this isn’t the end of the list. There are many more on the row. Just analyze how much you spend and where you spend more and make a decision that suits you best.

When you are left with a lot of choices, the best thing you can do is to compare the rewards and other offers and also consider the charges for credit cards and finally choose the one that will benefit you the most.

Don’t wait to take chances. Be Smart, Plan Wisely, Make Maximum Out of Your Money, And Live A Good Life.

Frequently Asked Questions

  1. Is it possible to pay with my credit cards in supermarkets?

Ans: You may use your credit card to pay for nearly anything you want, as long as you stay within your credit limit- groceries, vehicles, clothes, bill payments etc.

  1. How do cashback offers work with credit cards in grocery stores?

Ans: If your credit card enables you, you can get cash back at the grocery stores if you use it. Some credit cards provide quarterly rotating cashback benefits based on how you spend your money. Whereas some credit cards provide rewards without a minimum expenditure.

  1. Are there credit cards exclusively for grocery stores?

Ans:  No. There aren’t credit cards exclusively for grocery stores. You can choose credit cards that provide you with cashback offers and other rewards based on your needs and benefit from it. All that matters is the choice of the right credit card for you.

  1. Can I get benefits from credit cards for online shopping?

Ans: Of course, you can benefit from credit cards while paying for online purchases. You can avail cashback offers, and discounts and also win other rewards like reward points, access to airport lounges, discounts on entertainment, dining, etc. which the banks provide.

  1. Which is the best grocery credit card for me?

Ans: There isn’t a water-tight distinction between the best grocery credit cards. The need of the consumer is of primary importance. You can also consider the following things while looking for the best grocery credit cards:

  • Minimum salary
  • Annual fee
  • Rate
  • Rewards that the credit card offers
  1. Can I get supplementary credit cards with grocery credit cards?

Ans: Most banks provide supplementary credit cards. But whether it is paid or whether it is free is solely based on the policies of the bank. Some banks offer free supplementary cards while some banks charge for supplementary cards. The annual fee for supplementary cards also differs from bank to bank.

What Credit Card Should I Get in Dubai | Compare4Benefit

0

How credit card rewards programs can improve your everyday life? Before you apply, read up on what makes a card a good fit for you.

If you have been paying the same high-interest credit card debt for years, you may want to consider refinancing your balance and getting a lower interest rate. The top credit cards come with high rewards programs that offer a ton of perks, but they more often than not charge an annual fee as well.

However, it is certainly possible to find one you might be interested in that offers the best of both worlds; great rewards and no annual fee. Here’s how to find the right card to get started.

Credit card rewards programs are a great way to get some extra perks on the purchases you are already making.

The reward can be anything from gift cards, and merchandise to cashback. These rewards can be used to help pay for vacations, give you cash back on your purchases, or just some extra perks on the things you are already buying.

How to choose the best credit card that suits your lifestyle?

Choosing the best rewards credit card for your lifestyle can be a simple and easy process. All you have to do is put all your options on the table and decide which will best suit your needs.

Types of Rewards

Rewards may come in many forms, but they all hold special meaning to us. You will want to make sure that you are collecting rewards in a way that’s right for you. For example, avid travelers will be delighted with air miles redeemable for flights or hotel stays as well as with car rentals and other travel-related engagements. People with large families might register for brand-name merchandise and gift cards for particular stores, while others might prefer donating points to charity or cash back options.

Rewards Programs should be flexible so that you can exchange your rewards points for what you’re most interested in. For example, Emirates Ultima Credit Card by Citibank UAE Unlimited access to 1000+ airport lounges worldwide for you and 1 guest Complimentary Golf: unlimited on weekdays and 1 free round on weekends per month, Buy 1, Get 1 free movie ticket with Reel & Vox cinemas and International Concierge. Even better is that Complimentary Travel Inconvenience & Travel Medical Insurance are available!

The Importance of Redemption Rules:

Before redeeming your reward to upgrade or extend, make sure you check the terms of use. Some programs are strict about allowing rewards to be redeemed on-demand, while others may not allow it at all.

If you have an Emirates Ultima Credit Card by Citibank UAE, you can benefit from a convenient travel portal that enables you to book flights, hotel deals, and other packages conveniently. Watch out for the price match guarantee on select products.

Redeeming money on your chosen platform is very easy, just like how Bitcoin and altcoins can be used to purchase anything, real or virtual. You don’t need to earn millions of points or points at all before you redeem; it’s all dependent on you and how much money you’re looking to get back (which isn’t much if any at all).

What is a good reward earning rate?

All rewards credit cards come with an earning rate, which is a measurement of your amount of points for every 1 AED spent. Most credit cards are divided by category. One can earn 1 point per AED in gas purchases, 4 in restaurants, and 2 on groceries, making it important to look at how the card attaches points per category before applying. It’s also important to note that some earning rates may vary.

New cardholders will earn up to an accelerated rate of 25,000 welcome bonus skywards miles and 10,000 miles annually upon payment of the Annual Fee, making it easier and more worthwhile to reach the rewards milestones mile markers. Afterwards, 1 AED = 0.7 Skywards Miles on Emirates.com spend in AED and 1 AED = 0.5 Skywards Miles on non-AED Spend.

Also, Get extra perks from your credit card!

Your card earnings are always changing. That’s why it’s important to check with your credit card provider when its new version is released – because sometimes they’ll increase the rewards rate on a particular card.

When you use an Emirates Ultima Credit Card by Citibank UAE, Complimentary Emirates Skywards Silver membership, giving you 12kg of extra baggage allowance, priority check-in access to 1000+ airport lounges worldwide for you, your supplementary cardmembers, plus one free guest each per visit, Unlimited complimentary golf on weekdays and once a month on weekends at some of the best courses in the UAE and other great benefits too!

EMIRATES CITIBANK ULTIMA CREDIT CARD

Earn up to 2.5 Skywards Miles per AED spend

AED 2,000 joining bonus statement credit upon meeting min spends

  • Exclusive 100% Metal card
  • Best Skywards earn rate in the UAE (up to 2.5 Skywards Miles per 3.67 AED)
  • Complimentary Skywards Silver membership (extra baggage and Emirates lounge access in Dubai Airport)
  • 25,000 Sign-up bonus Skywards Miles for the 1st year when you apply for the card & 10,000 Bonus Miles annually upon renewal
  • Unlimited access to 1000+ airport lounges worldwide for you and 1 guest
  • Complimentary Golf: unlimited on weekdays and 1 free round on weekends per month
  • Buy 1, Get 1 free movie ticket with Reel & Vox cinemas
  • International Concierge
  • Complimentary Marhaba Silver Meet & Greet service
    10. 0% interest installment plan on tickets purchased online at www.emirates.ae
  • Complimentary Travel Inconvenience & Travel Medical Insurance and much more

What is EIBOR – Compare4Benefit

0
EINOR

EIBOR stands for Emirates Interbank Offered Rate. It is the standard interest rate for loans granted between banks within the UAE financial market

It’s stated in the UAE dirham, which is the currency in the UAE. In Dubai and other Emirate kingdoms, lenders and borrowers use the EIBOR as a reference rate for conducting financial transactions. 

Understanding EIBOR

Like LIBOR (London Interbank Offered Rate), the EIBOR is a standard interest rate issued by the Central Bank of the UAE. It’s nothing but the average of interest rates offered by the major banks in UAE for short-term funding loans to other banks. The average interest rate decided by the UAE banks for which they give unsecured funds to other banks in the UAE money market is EIBOR. 

The average market interest rate of the regional banking industry is well-represented by the EIBOR. It’s the interest rate for liquidity management and short-term bank borrowing in the interbank money marketplace. 

In simple words, if any regional bank in UAE faces a liquidity crisis or needs money, they can take a loan from other banks. These lending banks incorporate the interest rate into the EIBOR when they report the offered rates the next day. Also, this interest rate is considered the benchmark for several other transaction prices, comprising consumer loans, Islamic finance, and mortgages. 

Latest News On The Eibor

Before April 2018, the Central Bank of the UAE directly calculated this interest rate. Since then, they handed over the daily calculation responsibility to Thomson Reuters Ltd. 

The bank keeps on publishing the previous historical data from 2009 along with publishing the daily EIBOR fixings. Several Islamic banks in the UAE use the EIBOR rates as a standard mark for knowing the rates for certain agreements called ijara, which is an installment leasing agreement. 

Ending Note 

EIBOR is a popular rate of interest followed by the major banks in the UAE. You can do more research to explore more about the amazing interest rate offered by the banks of UAE. 

Reversion Rates In UAE 2023 – Compare4Benefit

0
Reversion Rate UAE

Who does not want to buy a property in the UAE? Many people look forward to taking advantage of the tax-free capital gains and returns on house rentals. Others look for family homes and lifetime investments.

For such people, the Central Bank of the UAE has introduced new initiatives and regulations that open up the UAE real estate market for other buyers from across the world. Sources suggest that nearly 13.6% of the UAE GDP comes from the real estate market only. 

Before we jump into all about Reversion rates, let’s get started with understanding reversion rates. 

Reversion rate is the interest that your mortgage turns to after the fixed mortgage period ends. Continue reading to know more about them.

What Are The Mortgage Types?

The two types of mortgages that you can take are:

  • Fixed-Rate Mortgage

The Fixed-rate mortgages provide a fixed term of up to 5 years. The most common fixed term is three years. After the fixed term is over, the rate will be moved to the Reversion rate, which is also known as the Follow-On rate. This gives you a short term benefit of being protected by the fluctuating interest rates due to inflation. 

  • Variable Rate Mortgage

These loans have their interest rate changing on the basis of the Emirates InterBank Offer Rate (EIBOR). This is considered to be risky because you do not know the amount that you will have to pay every year in the form of a mortgage. 

Loan To Value Ratio Has Increased By 5%

The law of UAE defines the eligibility criteria of a loan taker based on the loan to property value. In March 2020, the Central Bank of UAE took out a new rule. The rule said that all the banks and institutions could increase the LTV (Loan To Value) ratio for new buyers by 5%. This was the case for people who lived in the UAE and the foreigners as well.

This means that the foreign loan takers will get the chance to get 80%, not 75%, of their desired property value, and the UAE nationals can get 85%, not 80%. However, in the case of off-plan property, the LTV ratio remains constant at 50% for both foreigners and UAE nationals. 

Debt Burden Ratio

Under the UAE Central Bank rules, you can not spend more than 50% of your income on the repayment of loans, mortgages, credit card bills, and other debts. This is the maximum debt burden ratio that you can maintain in the UAE. 

Removal Of Age Limits

Earlier, the Central Bank of UAE asked for loan repayment of loans by the age of 65 by employed people and by the age of 70 by people who are working for their own business. In the previous years, this age cap was lifted, and there is no age limit to which you have to repay your loan.  

Key Takeaways

Even if you have taken a fixed mortgage, you will have to go back to Reversion rates after a point in time. That is why proper knowledge about the same becomes the need of the hour. 

5 tips to prepare for your hand over payment

0
5 tips to prepare for your handover payment

Time and patience are two of the most important requirements when you are purchasing an off-plan property.

If you are waiting for your property to be built for a long time, then it is sure that you would not want to wait at all after it is built to be ready for your handover payment. You will also not want to wait at all to finalize the purchase of your property and get the keys to it in your hands as soon as possible.

So, if you are getting ready to get the keys in your hand by funding your handover payment with the help of a plan for post-handover payment, then here are five tips to help you get prepared.

Handover Payment

Before moving on to tips for you to prepare for your handover payment, you need to understand what handover payment is. The final payment you make to secure the purchase of your off-plan property is a handover payment.

Generally, in the UAE, the handover payment is 50-60% of the original price of the property. It is very likely that you will need to get a mortgage to finance this handover payment.

But there is a lot more than just the mortgage when it comes to being prepared before the date of the handover payment. Here are five tips to help you get prepared to make the final payment without any tension and stress.

5 Tips to Help Prepare for Your Handover Payment

1. Be Aware of Your Timeline

It is very likely that you can forget about the handover payment, and they can sneak up on you. So, this is a reminder for you to start prepping for your handover payment in advance. If you do not start getting ready to make this huge final handover payment, you can find yourself lacking time to arrange the payment.

If your plan to pay the handover is by getting a mortgage, you need a lot of time to find yourself a mortgage plan that works for you and submit the documents of the mortgage and the other documents to the bank. Official processes take time, so carrying some extra time on your hand will do you good.

A minimum window of 2-3 months is very important for you to begin and complete the mortgage time. This time period also gives you some extra time if you run into any troubles during the mortgage process. This time period will allow you to complete the mortgage process despite any problems you might run into.

So, make sure that you are aware of your timeline and do not end up having to pay any late fees for your handover payment to your developer. Keep track of the date that has been agreed upon to make the handover payment and work towards being punctual.

2. Market Value Changes

The valuation of your property that was decided on beforehand between you and your developer might not be the same as the property’s final market value after the construction.

So, it is vital that you are prepared for market value changes before the handover payment after the completion of the construction. If the final market value of the property after the construction is finished ends up being lower than the original valuation of the property.

Also, if your handover payment is being made with a mortgage, then the up-front payment that you have to make can end up being higher than what you actually prepared yourself for.

If the final market value of the property ends up being higher than the original valuation of the property, you might just end up with a lower down payment than you expected it to be.

Another thing you should take into consideration is that the loan-to-value ratio (LTV) in UAE has a cap of 80% for the people who are residents of the UAE. The people who have UAE nationality have a cap of 85% on the LTV ratio.

A cap on the LTV ratio means that if the amount you are borrowing turns out to be higher than 80%-85% LTV, then the difference above the percentage has to be funded by you from your personal stash.

3. Get Expert Advice

It is smart to make sure that you consult an expert before making any big financial decision. So, when trying to prepare for your handover payment by financing it with a mortgage, you are advised to consult a Mortgage Broker. 

A Mortgage Broker is an expert when it comes to mortgages. They will know all the technicalities that go on behind funding your handover payment with a mortgage. Their expertise will help you in finding the best mortgage deal as per your needs and preferences.

They will also help you in finishing the mortgage process with the bank as swiftly as possible. You should consider consulting a Mortgage Broker early on since they will have a much deeper understanding of the patience and time it takes to go through each mortgage process stage.

4. Get a Pre-Approval

Another thing that the Mortgage Broker can guide you through is applying to get a pre-approval. This will tell you and your developers the amount that the banks are willing to lend you. The validity of pre-approvals is usually 60 days so that you can have some time to prepare. These are a great way to relieve tour stress when close to the handover payment date.

5. Prepare a Backup

There can never be enough guarantee when it comes to banks and mortgages. So, try and make sure that you have a backup plan for your handover payment in case your mortgage falls through.

These are some tips to guide you through a handover payment and make sure that you get the keys to your house as soon as possible.

Can I Include My Spouse on My Mortgage?

0
include spouse on mortgage

 If your partner is staying with you at your house and is contributing to the bills, it is a valid response to have them included on the mortgage of the house. The technicalities behind adding a partner to your mortgage or if it is the right fit for you are questions that can trouble anyone.

So, here is everything you need to know about adding your spouse to your mortgage, the legal process behind it, the expenses it can bring, and other options if that is not the right step for you.

The First Step

When it comes to adding your partner to your mortgage, the first thing that you should do is talk to your present mortgage lender. Similar to when you started your mortgage on your house, you were required to undergo affordability and credit checks to make sure that you could keep up with your repayments; your partner will also need to go through the same checks.

These checks are to make sure that they can keep up with the repayments. Your present mortgage lender might charge you a fee for conducting these checks.

Additionally, the mortgage lender is under obligation to add your spouse to your mortgage if they do not pass the affordability or credit checks. This decision is in their hand, irrespective of how well you might be keeping up with your mortgage repayments.

There is a possibility that your current mortgage lender might refuse to add your spouse to your mortgage. Your next option might be to hire a solicitor to get yourself some legal advice in such a situation. You will also need the legal advice of a solicitor when you decide which one of you will own how much percentage of the property.

Sometimes, you may end up in a what-if situation. This means that you need to start considering the repercussions of some possible future concerns relating to the mortgage. So, even if it is not pleasant to think about you must consider the fact that incase you and your spouse tend to split up in the future, it will be useful to have the house percentage worked out that each of you owns.

This will be extremely useful if and when you decide to sell the property after the split. The solicitor you hire for legal advice might as well charge you a fee for the advice, so consider that expense when you decide on your step forward.

There are two ways in which properties are generally shared. These are as follows:

1. Tenants in Common

In this situation, you and your partner decide the percentage that each of you will own. The percentage of the house does not need to be equally divided, i.e., 50/50. But, in the event of death, the portion of the house of the deceased’s will be transferred to the next of kin. This person might not necessarily be you.

2. Joint Tenants

This is, comparably, a lot simpler way of sharing your property since, in this, the property is equally divided between you and your spouse. In the event of death, the deceased’s portion of the house will automatically be transferred to you.

If you end up in a situation where your current mortgage lender refuses your request to add your partner to your mortgage, then there are certain ways around it. Let’s discuss these ways and see if they’re a fit for you.

Your Lender Refuses to Add Your Partner

If a situation develops where your current mortgage lender refuses to add your spouse or partner to your mortgage, it might not be the worst thing in the world. Just because your mortgage lender has refused does not mean that other lenders will refuse as well.

It might be smart to seek other lenders and speak to them about your problem. You must also consider if they might be willing to help you with it. You can apply with your spouse or partner for another lender and a joint mortgage this time around when you remortgage your house. This way, both of your names will be on the mortgage application. Sometimes, in this way, you can even end up getting a better deal on your mortgage.

However, another thing you need to remember is if you apply for a mortgage as a joint mortgage, then your and your partner’s credit scores will be associated. A bad credit score for your partner can mean a bad credit score for you as well, despite the fact that you have a good credit score. So, consider all the consequences and what-if situations before you make any final decision.

Other Options for Your Mortgage

If the idea of adding your partner or your spouse to your mortgage does not sound like the best idea to you, there are other options that you can choose for the time being. There is nothing stopping you and your partner from moving in together, despite the fact that they are not on the mortgage.

You and your partner can consider the option that they can move in with you, and instead of being added to your mortgage, they can just pay rent money. This money can cover the bills, the cost of living, and other utility necessities. This option is also the best if you both happen to split up after a while. In that case, your partner would not have any monetary or legal claim on the house.

The decision to move in with your partner or include them on your mortgage is yours to make at the end of the day. You need to consider your partner’s and your preferences very carefully. Also, you need to work out a solution that makes both of you comfortable about the mortgage situation.

So, it is best that you consider all of your options, as laid out above, before making a decision.