This list has been updated. Click here to view our new list of the best cashback credit cards in Dubai and the UAE!
The thinking behind a cashback credit card is simple: Use your credit card for everyday purchases, and your card provider will give you cash back, in the form of balance on your card, as a reward. Some credit cards in the UAE give you up to 10% cashback on certain purchases, meaning you can net some pretty handy savings.
That obviously comes with a proviso, though. Cashback credit cards are only worth it when you pay off your outstanding balance every month. Do this, and you won’t be charged interest on your purchases. Fail to do this, and the cashback you earn will be more than offset by the interest that you have to pay on your outstanding balance.
Still, if you’re up to using your card responsibly in order to earn great savings, a cashback credit card could be a fabulous investment. With so much choice available in the market, we’ve come up with a list of the UAE’s best cashback credit cards to help you decide on the best option for you.
NBF Platinum Exclusive Credit Card
A yalla compare Banking Awards winner, the NBF Platinum Exclusive Card earns a space on this list by offering an brilliantly simple way to earn cashback on your purchases. The headline figure is that you can earn 2% on all of your retail purchases. That may not sound like a lot, but cards that offer higher percentages of cashback usually restrict the rewards to certain purchases like fuel, DEWA fees or something else. Against a market backdrop filled with such cards, an across-the-board cashback credit card is certainly welcome.
And the Platinum Exclusive Card doesn’t stop its rewards at cashback, either. It’ll give you 60% off movie tickets, and 0% instalment plans across a range of big purchases. It’ll also provide access to VIP airport lounges around the world, exclusive offers on dining, travel and entertainment purchases, and interest-free credit for up to 50 days.
Standard Chartered Titanium Card
The Standard Chartered Titanium Card was voted by the UAE public as the country’s best cashback credit card at the recent yalla compare Banking Awards, and it’s easy to see why. With a AED 500 annual fee, it’s certainly affordable, and it’ll start giving you cashback straight away. What’s more, if you’re a new Standard Chartered customer, that AED 500 will be given back to you if you meet minimum spend requirements within the first 60 days of use.
But where this card really stands out is in the amount of cashback it’ll give you on big bills. You get up to 10% cashback on purchases made at any supermarket in the UAE, up to 10% cashback on utility payments, and up to 10% cashback on school fees. These are all very handy savings to take advantage of. Naturally, there are also plenty of other benefits – you get airport lounge access, 50% off at the movies and 15% off at online fashion store MarkaVIP.
Simplylife Cashback Credit Card
With no annual fee and a low minimum salary, the Simplylife Cashback Credit Card offers a no-nonsense way to earn decent amounts of cashback. In fact, you only have to spend AED 1,000 on the card per month to start seeing rewards. Like the NBF Platinum Exclusive Card mentioned above, the Simplylife option gives you a blanket cashback rate across all purchases, though the percentage isn’t quite as high at 1.5%. Still, you can earn up to AED 1,000 per month just in cashback, which is certainly a decent reward.
Other benefits include two free movie tickets when you make monthly purchases of AED 1,500, complimentary access to the Marhaba lounge in Dubai International Airport, and balance transfer at low rates.
ADIB Cashback Visa Platinum Card
Another yalla compare Banking Awards winner, the ADIB Cashback Visa Platinum Card is another flat-rate cashback card that’ll do what it says on the tin – give you 1% cashback on every purchase, anywhere, any time. And there are no limits to the amount of cashback you can earn. If you’re a new customer, the annual fee of AED 1,000 is waived for the first year, and the foreign currency rate on overseas transactions is just 3%.
There are a couple of other benefits, too, such as free roadside assistance, a 100% cash withdrawal limit, and an interest-free grace period of 55 days. But, really, the strength of this card comes in allowing you to earn big amounts of cashback.