| Minimum Salary | Salary Transfer | Islamic Finance | Cashback | Annual Fee | Rate | |
|---|---|---|---|---|---|---|
RAKBANK Elevate Credit Card
|
Minimum Salary: AED 35,000 | Salary Transfer: No | Islamic Finance: No | Cashback: Yes | Annual Fee: AED 948 | Rate: 3.65% |
Key Benefits:
- Choose from across 3 tiers according to your preferred benefits.
- Up to 3% back on all spends for airline & hotel redemptions.
- Complimentary access to over 1,300 airport lounges worldwide.
- Zero foreign transaction fees.
- Premium Viya membership.
- 6 free airport transfers per year.
- Unlimited access to beach clubs, pools & gyms with the Elevate Premium Pass.
- Up to AED 200 cashback monthly on video streaming.
- 2 free chauffeured rides monthly with Zofeur.
- Complimentary padel games every month.
More Product Benefits:
- Mastercard World Elite Concierge: A 24/7 dedicated service to help with restaurant reservations, event tickets, and travel planning.
- 50% off on 4 Vox Cinemas tickets per month.
- Up to 4 Rakrewards on each Dirham spent.
- Complimentary airport security fast track services.
- Comprehensive multi-trip travel insurance covering medical emergencies, trip cancellations, and lost luggage.
- Mastercard World Elite Concierge: A 24/7 dedicated service to help with restaurant reservations, event tickets, and travel planning.
- Access to a specialized "Elevate Helpdesk" (04 356 9209) available Monday to Friday for priority service.
Rates and Fees:
- Finance charge: 3.65%
- Annual fee AED 948 for Prime (Tier 1); AED 1,788 for Plus (Tier 2); AED 3,588 for Privilege (Tier 3) including VAT.
- All supplementary cards are free.
- No monthly subscription fee if the minimum spend requirement per month is met.
Eligibility & Requirements:
- Employed with a 35,000 minimum monthly salary, or self-employed with a quarterly turnover of AED 600,000 or an average quarterly account balance balance of AED 200,000.
- Resident of the United Arab Emirates or UAE National.
- Minimum age 21.
Documents Required:
- Copy of Emirates ID; Valid Passport & Residence Visa Copy.
- Provide a security cheque matching the credit card limit.
- Address Proof.
- Bank Statements with Three Months Salary Credits.
Note: Benefits are subject to the bank's terms and conditions and may require minimum spends to activate certain lifestyle perks.
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
