Credit Card Loyalty Rewards: How They Work and Who Foots the Bill

Posted on August 9, 2024August 12, 2024 by admin

Credit card loyalty rewards are an integral part of the landscape in consumer finance today. The programs engage customers through various means, including cash back, travel points, and other very useful perks. Such programs, while being so popular, obscure their inner mechanics and financial mechanisms that ultimately make them possible. The article explains how credit card loyalty rewards work, who funds them, how banks structure these rewards transparently, and why some categories have higher rewards levels than others.

How Credit Card Loyalty Rewards Work

Credit card loyalty rewards are incentives provided by the credit card issuer to the cardholder for using the cards to make purchases. These rewards come in several forms, as described below:

Cash Back: This means that a certain percentage of the amount spent is credited back to the cardholder through a statement of credit and sometimes directly into a bank account.

Reward Points: Cardholders are awarded points per dollar spent, redeemable on travel, merchandise, gift cards, or any other set reward.

Air Miles: Connected with travel rewards, cardholders get miles that they may redeem for flights, hotel stays, and other travel-related expenses.

Who Pays for Credit Card Loyalty Rewards?

Now, concerning who pays for credit card rewards, the answer is more than one party. It involves:

Merchants: When a customer makes a transaction using a credit card, the merchant will pay a fee to the bank that issued the card; this is known as an interchange fee. Usually, it ranges from 1% to 3% of the total amount of the transaction. Some of this goes to fund the reward system.

Card Issuers: Banks and other financial institutions that issue credit cards often sponsor rewards as part of their marketing and customer retention programs. The cost of the rewards is offset against interest and fees paid by cardholders.

Cardholders: Those who carry a balance on their credit cards and incur interest charges indirectly contribute to the rewards program. Besides that, fees—like annual fees, late fees, and foreign transaction fees—subsidize these programs as well.

How Banks Structure the Reward Percentage

Banks would design their rewards programs in a manner that is attractive to clients while keeping the bottom lines intact. What will follow is the no-nonsense breakdown of how bank’s structure the reward percentage:

Interchange Fees: The interchange fee is a fee paid by the merchant’s bank (acquiring bank) to the cardholder’s bank (issuing bank) for processing a credit or debit card transaction. This fee compensates the issuing bank for the costs and risks associated with maintaining the card account and facilitating the transaction.

Spend Categories: Often, banks give more significant rewards for specific spend categories, like dining, grocery, or travel. They study consumer-spending trends and determine categories where high rewards may drive more usage of the cards.

Tiered Rewards: Tiered rewards are those where the percentage of reward increases with the increase in spending levels. For example, the card may give back 1% cash for travel for a spend of AED 10,000 , 2% for AED 20,000 and so om

Promotional Offers: These include sign-up bonuses and promotional rates which the banks offer to bring more people aboard. This offer, in turn, encourages initial spending and long-term loyalty.

Cost Management: The banks determine the reward rates based on their profitability models. The banks consider the cost of rewards offered, the expected interest and fee revenues and the competitive scenario. Advanced data analytics helps the banks optimize these parameters.

Popular Spending Categories for Credit Card Rewards

The banks may offer certain categories of higher rewards. The most popular categories usually include:

Dining: Most credit cards are generous with rewards for dining. This is because companies know that for many consumers, dining out is one of the most common expenses and a category that will probably drive regular card usage.

Groceries: Since groceries are a staple expense, this category is usually targeted to come with higher rewards to motivate frequent card usage.

Travel: Big spenders on flights, hotels, and other travel-related expenses; this could mean higher individual transaction sizes.

Fuel: Fuels are a regular need for many customers. Increased rewards on fuel purchases increase high usage of the cards.

Entertainment: These are spends on movies, concerts, and events that involve a wide range of consumers.

Why Rewards Rates Vary by Category

Rewards rates vary across different spending categories. These can be due to a few factors. These may include:

Merchant Interchange Fees: Different merchants and categories charge different interchange fees. Categories that charge higher fees can provide higher rewards. Dining and travel categories usually have higher interchange fees than government services and insurance.

Consumer Spend Patterns: The bank analyzes consumer spending patterns to decipher which kind of spend can be easily pushed more with higher rewards. Categories like dining, grocery, and travel have frequent and high-value spending, hence it justifies high returns to attract more transactions.

Profitability and Risk: Categories such as government payments, insurance, and utilities are often less rewarding, seeing that normally they contribute less to the profit margins of banks and are less likely to involve defaults than discretionary spend categories such as dining and travel.

Competitive Strategy: Higher rewards in popular categories are the competitive strategy that banks use to attract and hold on to customers. Attractive rewards in high–spending categories help to differentiate their cards from those of competitors.

Example:

Let us understand how the loyalty rewards are calculated by working out a hypothetical example. Bank ABC offers a credit card under the following terms for reward earnings :

1% cash back on all purchases

2% cash back on grocery purchases

3% cash back on travel purchases

A cardholder, Ahmed, charges his credit card with the following monthly expenses:

-AED 500 on general purchases

-AED 400 on groceries

-AED 300 on travel

Following is how the rewards will be calculated:

General Purchases: -AED 500 x 1% = AED5 cash back
Groceries: -AED400 x 2% = AED8 cash back
Travel:– AED 300 x 3% = AED9 cash back

Total cash back rewards earned by John for the month = 5 + 8 + 9 = AED 22

Revenue to Fund Rewards:

Interchange Fees: Assuming an average interchange fee of 2%, Bank ABC earns AED24 from the AED1,200 spent by John.

Card Issuer Costs: Bank ABC shares AED 22 with John in rewards; net of this, AED 2 comes from interchange fees. This does not include other revenues like interest charges in case John carries his balance forward, the annual fees, or any other fees, all adding to the bank’s profitability.

How Rewards Are Structured:

Example

General Purchases (1%): This is the standard rate, covering all other spending to provide consistency in card usage.

Groceries (2%): Groceries are a common expense that will encourage more frequent use of the card.

Travel (3%): Higher rewards for travel incentivize larger purchases, international spend, increasing overall card spending.

Conclusion

Credit card loyalty rewards are really a win-win for both the cardholders and the issuers. Consumers gain valuable benefit enhancements to their spending power while improving card usage and customer retention for banks. The understanding of the workings, such as who is responsible for paying for such rewards and how they are constructed by banks, will go a long way in setting consumers in better positions in using them to their full potential. More importantly, transparency is vital to ensure that cardholders are fully aware of how to effectively earn and redeem their rewards.

How Digital Banking Systems Enhance Customer Experience?

Posted on March 24, 2022March 24, 2022 by admin

Technology is ever changing and continues to revolutionise the world in which we live. In less than a decade, the lives of every single person worldwide have changed from being digital second to digital first. As technology is developing towards providing a comfortable lifestyle, people’s preferences are changing with respect to living in this easily accessible digital world. The world has seen significant improvements and advancements digitally in the last few years alone. These advancements would only continue to grow and inspire people to adapt to the changes in their lifestyles. Gadgets like laptops, smartphones, tablets, and computers have become an integral part of almost everyone’s daily life. Internet and online preferences have seen a significant rise, adding to the comfortable lifestyle of an individual.

The Continuous evolving landscape, cutting-edge competition, along with rising customer expectations have become a general thumb rule to adapt to in almost every industry. The banking sector is no exception and is one of the first industries to adapt to digital advancements. The banking and financial sector being the backbone of any economy is understandably on the frontline for digitalisation and advancement. This is also why many insurances, banking services, and financial institutions and providers have to keep up with the new trends to tend to their customers promptly.

SoulWallet helps you compare and find the best credit card across various banks, that are suited for your needs for you to have an easy and hassle-free experience. The well-researched, solidly structured, unbiased content along with unique tools at SoulWallet help you make well informed financial decisions for your personal and business transactions. In the process, SoulWallet helps you identify the options that will let you save money and enjoy the best perks.

Digitalisation in Banking

With the digitalisation of the banking sector, more and more people prefer to manage their financial activities from making payments, transactions like transferring of funds, checking their bank account statements to applying for loans and credit cards by simply logging into their digital banking portals and conducting these activities from the comfort of their homes or from on the move without having to visit the bank. Digital banking is a system that helps banks and financial institutions to digitalise their banking services and make them convenient to use for the customers as per their convenience. Digital banking services can include activities like money deposits, withdrawals, management of the customer’s bank account, application for financial products, like credit or debit cards, management of loans and other transactions.

Digitalising the banking sector has also helped grow their customer base and transactions can be carried out easily from any area of the world. In order to incorporate this, various digital platforms have established easier links between people from different remote corners, connecting them to the banking and financial institutions and providing them with the service they need. That is why the preference for digital banking for both customers and bankers is thriving.

In many cases, physical restrictions and complications lead to a sharp surge in a demand for an online platform for financial activities and digital banking services. A study by Mastercard revealed that 62% of the respondents in Europe expressed a keen desire and interest in moving from the physical banking aspect to banking using digital platforms in the year 2020. With the complications arising due to the pandemic, over half of the world’s population prefers using online facilities and banking apps more than ever and have expressed a more positive interest in digital banking overall. Customers have switched banks for banks that offer banking features that provide safe, quick, and convenient access to their finances online. Fast, simple, and effortless digital experiences have now become the default mode for consumers throughout their lives, and it’s becoming increasingly important for banking too, particularly as all the big techs have upped their involvement in their respective sectors.

Digital banking authorizes its customer’s personalization at the scale that drives between 5 and 15% revenue growth for the corporations in the financial service sectors. Banks functioning digitally have also witnessed a reduction in costs and streamlined processes. This end-to-end integration has also helped provide an engaging customer experience in financial services that allow business transformation with the help of Artificial Intelligence (AI).

Customer Experience in Banking

In the year 1999, when the world was steadily digitalising, Dell’s then Chief Information Officer Jerry Gregoire proclaimed, “the customer experience is the next competitive battleground.” The two decades since have shown this to be a very accurate prediction in all sectors of business.

All the efforts a bank puts in making each and every one of their individual clients feel important while interacting and transacting with the bank is referred to as the customer experience (CX). The cumulation of all the interactions that a customer perceives along the entire journey is also a part of the customer experience. Customer experience is the most important aspect in the banking and financial sector. Every strategic approach taken by the banks is to meet the demands of their customer and to satisfy their customer needs. In this day and age, it is crucial for banks and financial institutions to digitally transform themselves to deliver a consistent banking experience online for their customers.

A study by the digital banking report has concluded that improving the customer experience in banking should be the first goal for all banking institutions and financial service providers. The banks that invest in the customer experience trends have a higher rate of recommendation, greater wallet share and are more likely to up and sell or cross-sell products and services to existing customers.

In the financial service industry, customer experience carries equal weightage, if not more. Addressing customer suggestions and preferences is much more impactful in the long term and forms a loyal customer base. Banks and financial institutions that adopt new trends and strategies to revamp the banking and financial service experiences are steady in the market and have a loyal and expanding customer base. Banks and financial institutions that have used digitalisation and technology to create seamless, convenient, and intuitive customer experiences have dominated their markets.

What are the Customer Expectations from Digital Banking Experience?

Customers expect their banks should focus on creating an experience culture that would nurture all their needs, build trust, and offer personalised experience as per their convenience.

The key customer expectations when it comes to digitised banking experience are:

Easy accessibility – Banks and financial institutions need to provide quick and easy to use digital platforms that are accessible across multiple devices, mainly smartphones and computers. Various features and banking transactions should be carried out easily on these platforms without any wait time. The high quality banking experience along with easily connecting with the bank directly is a must.

Real time assistance – Often customers need real time assistance and prefer instant support. This not only builds confidence in the customers but also encourages loyalty and recurring customers. Using live assistance tools like co-browsing and video chats, banks can provide real time support and help to their customers. Chatbots also help scale their support and customer interactions.

Personalised services – Customers almost always prefer personalised services and relevance as per their needs. They would look for products and services that match their needs and provides subsidies that would be beneficial to their needs and usage. Banks can identify the key business drivers and deliver personalised support that would help shape the customer experience in banking.

Data security – Many customers are sceptical about their financial and important personal information being misused or taken advantage of. Data security is the most crucial point for any banking and financial sector. Customers need to feel safe sharing their finance and personal information with the bank. A healthy relationship between banks and customers is only created with a secure network and when a bank can guarantee security to the data of their customers.

Multifunctionality – Customers prefer banks that offer them options and solutions to any of their problems immediately. The banks need to keep pace with the latest developments of the market and technology and offer services across different channels simultaneously.

Design – Many traditional banking institutions often do not concentrate on their interfaces and fail to attract new clients. A customer today will prefer banks to have an exceptional UI along with easy to use website or mobile apps. Investing in improving digital channels attracts more customers.

Three ways Banks can conquer Customer Experience in Digital Banking

Banks hold enjoy strong customer relationships and trust since their establishment. Even with the services and products becoming available digitally, most of the customers trust their banks and banks that offer superior and personalised services. To further thrive in this digital era, banks need to harness the available advanced banking technology. This will allow the banks to match with the seamless and intuitive customer experiences offered by other big tech and their competitors.

To conquer customer experience in digital banking, banks need to focus on three key areas:

Transform the business models and mindset to a customer first approach – The customer first mindset requires banks and financial institutions to think about customer needs relentlessly and make things easy and accessible for the customers.

Leverage advanced banking technology – All banks require advanced digital banking solutions that help them manage their customers worldwide. Using technologies like application programming interfaces (APIs), cloud, and artificial intelligence allows banks to analyse and manage their vast amounts of data and large customer base.

Maintain and extend your trust advantage – Trust being the most important factor, offers a valuable advantage to build close and personal relationships with customers. Combing technology with customer experiences, banks can enhance customer experience and develop stronger trust with their clients.

Tips to Improve Digital Transformation

For banks to succeed in digital transformation and to avoid outdated assumptions while creating exceptional services that focus on their customers, banks should follow the following customer experience tips:

Serve more instead of selling
Make emotional connections with customers instead of overloading them with lots of information
Provide actionable solutions to customers instead of just focusing on features
Create an integrated flow for the customers instead of disintegrated experiences
Become disruptive instead of being protective

Ways to Improve Digital Customer Experience in Banking

The adoption of digital enablement technologies by banks that are able to function together smoothly is required to orchestrate a connected and enhance customer experience.

The following strategies are options for banks to achieve this state:

Proactive engagement for improved financial management – Financial institutions have various means and innovative methods to collect data, analyse and channel strategies to diversify the means of engaging customers and building better and stronger relationships in real time. By educating customers, notifying customers without delays, and conducting surveys help banks in conducting proactive customer engagement.

Offering live assistance – Mapping a consumer banking journey is an excellent way to gain a detailed understanding of the customer’s experience. This can help banks discover common customer complaints, gain insights into improving the consumer journey, help in identifying the touchpoints customers have with the bank and understand their expectations better. This also helps in improving customer resolution time, reducing sale cycle and number of touchpoints for the customer.

Using chatbots as Financial Concierge – Artificial intelligence has played a significant role in technological development. Using AI chatbots is a common practice for customer interactions. This helps in providing faster and more accurate solutions to customers in real time and help in connecting with the right department and bank personnel without much response delay. The chatbots also provide customer information to the banks to help them identify the customer and the problem quicker and thus provide accurate solutions.

Prioritise a seamless omnichannel customer experience – Modern customers prefer to connect with the bank across various different channels according to their convenience. Banks need to provide the same time of services across all channels, both online and offline.

Understand the customer journey – Creating an unrivalled customer experience is an aspiration of all banks and this can be achieved by following the end to end customer journey. Customer needs, actions, barriers, and motivation can be considered at every stage of the customer journey and any shortcomings can be dealt with immediately without wasting time.

Make use of big data and analytics – Understanding customers is the foundation for sustainable competitive advantage in the digital banking and financial sector. With the help of analytics and data, banks can gain valuable insights to segment customers, evaluate opportunities, and predict models to strengthen engagements and increase the customer experience of digitalised banking services.

Using a personalised customer experience approach – Personalisation is imperative, and every customer demands it. These elements help banks to put customers first, leverage this customer data and deliver multi channel customer experience, thus improving the customer experience overall worldwide

Transparency, Security, Trust as customer experience tools – Forbes says that customers want to feel valued, appreciated, and confident, and customers who feel this, will advocate the brand. Using these tools builds deep trust and cultivates loyalty in customers who in turn recommend the bank or financial institution to others, thus providing more value to the banks.

Trends Reshaping Customer Experience in Banking for 2022

Enhancing Products & Services with Mobile App Data – In this age and time many mobile banking applications aren’t so much as nice to have rather than on a need to have basis. Banks without this capability are at a severe disadvantage, as customers have come to expect convenient and easy to use a mobile app as a basic necessity. These apps and software enable the banks and financial institutions to analyse the data collected and the machine learning algorithms can help the banks to extract valuable information in return from this customer data, which can then be leveraged to develop new products, optimise the existing processes, better empower customers, and improve the overall customer experience.

The Branch of the Future – Customers do not prefer to visit the physical branches as frequently as they once did and pecks like complimentary coffee and free Wi-Fi aren’t enough to draw modern customers to their physical branches. Physical branches see themselves competing with their own online platforms for customer attention. With the need to reimagine the physical branches to a branch of the future many banks are taking steps in modernising their physical branches to offer more technological services. For example, some branches display mobile, and tablets loaded with their banking apps on display, while some banks have capitalised on the value of one on one, face to face interactions with customers to help them utilise their money better and offer consultative services for the same.

Advising Services – As customers look for ways to grow their money in a safe and secure manner, usually find themselves in a whirlpool of information on the internet and random financial advice, which may or may not be practical for them or may be too broad to be of any real use. Banks can use this opportunity to improve their financial services and pair their customers with in-house financial advisors who can provide tailored advice as per their customers’ needs. This will not only help build trust and better relationships between the banks and the customer but will also offer a competitive advantage. With the help of customer relationship management (CRM) technology, banks can collect and analyse data and build detailed customer profiles which in turn, the in-house advisors can use to gain overall knowledge of their customers thus being able to offer personalised services.

Artificial Intelligence – A customer these days would prefer to reduce human interaction and would prefer to have automated services. This is also apt with the situation where the customer is put on hold while calling the bank’s customer service helpline to report an issue. With the volume of incoming calls steadily increasing and having a limited number of bank representatives on hand to field them, banks have to find innovative ways to tackle this situation without losing the trust of their customers. With the help of artificial intelligence, banks stand to save a substantial amount of resources and help customers more accurately while also improving customer experience in banking. Using artificial intelligence in an innovative manner, banks can also provide virtual assistants to provide money management tips and tricks to customers.

Automated Onboarding – For most banking customers, a quality customer experience hinges on their first impression with bank interaction. This first impression takes place during customer onboarding in the bank. Traditionally, a lot of paperwork and documents were required along with multiple visits to the banks. Digitalisation and making onboarding an electronic process has made it easier for customers as well as for banks. Customers can do it as per their convenience and from the comfort of their homes, whereas banks can use the automated process to compile the data with ease and accuracy, further enhancing the overall customer experience.

Support for Digitalization & Remote Service – In the last year alone, the importance and need for digital channels and remote services have been highlighted quite a bit. Making this transaction digital has been proven to be difficult for many banking customers, more specifically customers from older generations and customers who do not have access to digital platforms. In the coming years, banks need to double their efforts to smooth this transition for their customers. Providing additional support in terms of educating customers, to providing step by step tutorials and interactive videos would help increase customer knowledge and thus improve the overall customer experience. The more comfortable and confident a customer would feel while interacting on the digital platforms and remote services, the better their overall financial services customer experience will be.

“Humanizing” Digital – Even though artificial intelligence and digital platforms are leading banking customer experience; trust is always built on human interaction. To make this a comfortable union, a growing number of banks are offering a mix of artificial intelligence and live support for customer services, generating efficiency gains while still providing customers with the kind of personal touch they need. As technology advances, artificial intelligence and chatbots can be made more personal and be given personalities to have a more customised conversation with the customer and be able to leverage sentiments to detect emotions and respond appropriately.

Hyper-personalisation – Personalisation has been topping the customer experience list for years and the advancements made are tailored around that. The next frontier of personalisation is hyper-personalisation. When compared to standard personalisation that uses data analytics to deliver targeted marketing and sales messaging to different customer segments, hyper-personalisation is using a combination of predictive analytics like artificial intelligence and machine learning to monitor individual customers’ real time usage data and provide services and suggestions accordingly. Armed with this technology, banks can queue more targeted and one on one marketing campaigns and offers.

Proactive Engagement – One of the best things about advanced analytics is that it provides financial institutions with a level of insight into their customers that once seemed impossible. Today, banks can monitor customers’ financial health and proactively offer assistance with financial management or suggest opportunities to grow their wealth. Depending on customers’ preferences, this service can be offered over digital platforms or in person. Watching out for their customers’ interest to demonstrate the value added enhances the overall financial services customer experience.

Doing the Right Thing – The past two years have been challenging and has placed a significant financial strain on individuals as well as businesses. Banks can help their customers by being transparent about their process, data management and being honest about their policies and practices. Sustainability, honest and transparent business models go a long way in ensuring trust between a customer and the financial institution. Offering financial advising services to help their customers regain their footing shows concern and helps build a long term relationship between banks and their customers. Ultimately, doing the right thing by the customer is about demonstrating to customers that you intend to put their best interests first.

Tips for banks on Improving the Customer Experience

Assemble a dedicated customer experience team solely for that purpose
Establish strong feedback loops to gain valuable insight
Take an iterative aspect to optimization
Keep the customer at the centre of the business
Be honest and promise only what they can deliver
Enhance the mobility of products & services
Be a financial advisor throughout the customer’s journey
Mirror customer experience of branch to internet banking
Leverage Artificial Intelligence (AI) to automate routine tasks to save time and optimise value

Popularity of Digital Banking in the UAE

The United Arab Emirates has always been keeping a steady pace with global developments, especially in the era of digitalisation of banking. From the year 1960, with the introduction of ATMs and later internet banking and mobile banking, banks and financial institutions in the UAE have always been in the now. Today, banks propose digital only solutions; and lately, non-bank entrants are also joining this digital banking fray.

The banks and financial institutions in the UAE began to realise the challenges and opportunities of the financial technology revolution that had begun sweeping across all the industries in the second half of the previous decade. This prompted a number of banks and financial institutions to launch digital banking initiatives. These initiatives ranged from separate digital only banking platforms to strengthening of existing mobile banking platforms, rationalising branch based services, and refocusing staff on value-added services rather than repetitive and less-profitable branch operations.

Top Digital Banks in the UAE

Currently, UAE is home to more than a dozen digital banks with the numbers expanding rapidly. From personal banking to banking optimised for businesses and youth, there are a number of options currently available in the UAE.

Emirates NBD LIV
Mashreq Neo
Yap
Abu Dhabi Islamic Bank (ADIB)
Dubai Islamic Bank (DIB)
First Abu Dhabi Bank (FAB)

Banks and Financial Institutions Driving Customer Engagement for Banking in the UAE

Here are some of the customer engagement strategies used by the big players in the UAE’s banking and finance sector

RAKBANK

Is relentlessly focusing on user education reflections in the surge in adoption and usage
RAKBANK is one of the largest and most prominent banks in the UAE. They have prioritized user education in their strategy. The Bank is focused on informing and educating customers about contactless and digital wallet payments via various digital channels such as Apple Pay, Google Pay, Samsung Pay, Garmin Pay, Fitbit Pay, and SwatchPAY. RAKBANK communicated about the safety and convenience offered by the digital payment options to nudge a habit formation among customers.

Commercial Bank of Dubai

Is prioritising financial inclusion and is optimising customer onboarding process
The customer’s shopping preferences are changing from physical stores to predominantly online channels, thus changing the mode of payment and banking in general. Digitization of services has accelerated in the last two years by the pandemic and thus resulted in a phenomenal uptick in digital adoption. Commercial Bank of Dubai has introduced end-to-end seamless onboarding, to make the process easier and faster for customers. Consumers can now open an account from the comfort of their homes in under two minutes and less than ten clicks using their Emirates ID.

Mashreq Bank:

Is unlocking meaningful engagement with customers by deep diving and extensively studying customer behaviour and personalization

Banks and fintech have had a tremendous opportunity to deepen their relationships with their customers in the last two years. These relationships need not be limited to transactions but can span multiple other use cases like school fee payment, food order, and other services the Bank can facilitate. Banks need to make the customer’s life easy across all digital touchpoints and provide relevant and personalized experiences for various age groups and segments. Mashreq Bank analyses customer behaviour understands it and makes proactive decisions to personalize communication using AI-enabled optimization.

Banks by understanding the different areas of customer experiences can come up with an extensive customer engagement strategy to reduce the gaps between customers and the bank. The significance of the digital banking experience can be attributed to the various benefits offered like reduced operational costs, retaining customers, and the ability to stay ahead of competitors by using the latest technologies. The customer experience in the banking ecosphere holds massive untapped potential for growth, from meeting the day-to-day needs of consumers and focusing on preparing for disruptive future technologies.

list of best emirates skywards credit cards in UAE

Best Skywards Credit Card in UAE

Posted on March 22, 2022November 21, 2023 by admin

What are the best Emirates Skywards credit cards for UAE residents?

As the world’s populace fervently hopes, we are all finally putting the nightmare of Covid 19 behind us and hopefully getting back to our pre-pandemic lives. Here in the UAE life has pretty much gone back to normal and one can’t help but notice the air of optimism of all the possibilities that now lie ahead which were a distant dream for the last two years. One of the biggies of course is that travel is back on the menu again folks! Whether it is to just go back and visit our families and loved ones or to be able to travel again as tourists and visit new destinations which was, let us admit, a favorite indulgence but almost cruelly denied to us these past 2 years.

As UAE residents we are so fortunate to have access to Emirates Airlines which is easily one of the best airlines in the world and is the obvious airline of choice when considering any international travel for us. How often do we find ourselves looking for reasons to stretch our budgets a bit to justify any price differences travelling with Emirates versus other budget airlines? Deep down we know that traveling with Emirates is quite simply the best option in terms of the entire experience – right from the dedicated terminal, class leading on demand in-flight entertainment options, direct routes saving us the hassle of multiple stops and of course for the well-heeled travelers amongst us, the Emirates business class lounge experience which is second to none!

A great option for residents and citizens to enjoy the many benefits of flying with Emirates Airlines is to use an Emirates Skywards credit card which is offered by some of the leading banks in the UAE. These credit cards are offered as a partnership between Emirates Airlines and the bank and offer a multitude of benefits to customers who have these credit cards. These benefits can vary from earning Emirates Skywards miles on purchases made with the credit cards, gaining membership to exclusive Emirates Airlines membership tiers including Skywards Silver status, and in some cases, even the coveted Skywards Gold Tier membership status. These tiers bring their own significant benefits to customers and ‘earning’ them by getting a credit card is a quick and easy way to gain entry into these exclusive membership categories. But these are just a couple of examples and as you will find out these credit cards offer a wide array of benefits to suit every individual profile.

Given the popularity and demand for flying with Emirates it is no wonder that several leading banks offer co-branded Emirates Skywards credit cards as part of their credit card portfolio offerings. And as can be expected, not all of these cards offer the same level of benefits or are indeed even offered to the same profile of customers. There are no fewer than 14 different Emirates Skywards co-branded credit cards currently available in the UAE and it is no easy task to identify which of them is best suited to you. But fret not, our team here at Soulwallet.com has done the heavy lifting to help you find the best ones suited to your specific needs.

Banks in UAE that currently offer Emirates Skywards co-branded credit cards are –

Abu Dhabi Islamic Bank (ADIB)
Citibank
Dubai Islamic Bank
Emirates Islamic Bank
Emirate NBD
RAKBANK

Across these 6 banks there are currently a total of 14 different Emirates Skywards credit cards offered. These are broadly categorised based on the minimum income required to be eligible for each credit card, the features and benefits offered, annual fees charged and so on.

Income Eligibility

The monthly minimum income requirement for Emirates Skywards credit cards are as below:

Credit Card	Minimum Salary
Dubai Islamic Emirates Skywards Platinum Credit Card	AED 5,000
Citi Emirates World Card	AED 12,000
Emirates Islamic Skywards Signature Credit Card	AED 12,000
ADIB Emirates Skywards World Card	AED 15,000
Dubai Islamic Emirates Skywards Signature Credit Card	AED 15,000
Emirates NBD Skywards Signature Credit Card	AED 15,000
Citi Emirates Ultimate	AED 18,000
RAKBANK Emirates Skywards World Elite Mastercard Credit Card	AED 20,000
ADIB Emirates Skywards World Elite Card	AED 25,000
Emirates Islamic Skywards Black Credit Card	AED 25,000
Emirates Islamic Skywards Infinite Credit Card	AED 25,000
Emirates NBD Skywards Infinite Credit Card	AED 30,000
Dubai Islamic Emirates Skywards Infinite Credit Card	AED 35,000
Citi Emirates Ultima Card	AED 36,750

As can be seen from the table above, there is an Emirates Skywards credit card option available for customers with income segments starting from as low as AED 5,000, which incidentally is also the minimum monthly salary required as per UAE Central bank regulations for a credit card.

Which is “The Best Emirates Skywards credit card” in the UAE?

While many readers would want to scroll directly to this section to find out the ‘winner’, the reality as is often the case, is that among the multitude of options available there is no single “Best Emirates Skywards credit card” for everyone. Different Emirates Skywards credit cards offer different benefits. In the sections below we will help you identify which one is the “the best Skywards credit card for you” based on your specific needs, spend patterns and priorities as an individual.

Best “PREMIUM” Emirates Skywards Credit cards

ADIB Emirates Skywards World Elite Credit Card

Emirates Islamic Skywards Black Credit Card

Citibank Emirates Ultima credit card

RAKBANK Emirates Skywards World Elite Mastercard Credit Card

Best Emirates Skywards Credit Cards to EARN SKYWARDS MILES FROM REGULAR SPENDS

Emirates Islamic Skywards Black Credit Card

Emirates Skywards Dubai Islamic Bank Infinite Credit Card

ADIB Emirates Skywards World Elite Credit Card

Citibank Emirates Ultima credit card

Emirates NBD Skywards Infinite Credit Card

Best Emirates Skywards Credit Cards for BONUS SKYWARDS MILES

ADIB Emirates Skywards World Elite Credit Card

Emirates NBD Skywards Infinite Credit Card

Emirates Skywards Dubai Islamic Bank Infinite Credit Card

Best Emirates Skywards Credit Cards for BEST JOINING OFFERS

Citibank Emirates Ultima credit card

Citibank Emirates Ultimate credit card

Citibank Emirates World credit card

Best Emirates Skywards Credit Cards for EMIRATES SKYWARDS MEMBERSHIP TIERS

Emirates Islamic Skywards Black Credit Card

ADIB Emirates Skywards World Elite Credit Card

ADIB Emirates Skywards World Credit Card

RAKBANK Emirates Skywards World Elite Mastercard Credit Card

Best for COMPLIMENTARY EMIRATES AIRLINES HOME CHECK-IN SERVICES:

ADIB Emirates Skywards World Elite Credit Card

ADIB Emirates Skywards World Credit Card

Best for HEALTH & FITNESS BENEFITS:

Dubai Islamic Skywards Infinite Credit Card

Best for EMIRATES SKYWARDS MILES PURCHASE DISCOUNTS

RAKBANK Emirates Skywards World Elite Credit Card

Best for CINEMA OFFERS & DISCOUNTS

Citibank Emirate Ultima credit card

Citibank Emirates Ultimate credit card

Citibank Emirates World credit card

Best for COMPLIMENTARY AIRPORT DROPS & TRANSFERS

RAKBANK Emirates Skywards World Elite Mastercard Credit Card

ADIB Emirates Skywards World Elite Credit Card & ADIB Emirates Skywards World Credit Card

Emirates Islamic Skywards Black Credit Card

Emirates NBD Skywards Infinite Credit Card

Best to EARN EMIRATES SKYWARDS TIER MILES

Emirates Islamic Skywards Black credit card & Emirates Islamic Skywards Infinite credit card

RAKBANK Emirates Skywards World Elite Mastercard Credit Card

Best “PREMIUM” Emirates Skywards Credit cards

ADIB Emirates Skywards World Elite Credit Card

The ADIB Emirates Skywards credit card is arguably the best premium Skywards credit card available not just for the range of benefits it offers but also being the most competitive in several key aspects. This card offers very generous Emirates Skywards miles for spends at Emirates Airlines, for international spends as well as for domestic retail spends in the UAE. In addition to the excellent Skywards miles rewards offered, this card also offers:

3 Emirates Skywards miles per USD of spend at Emirates Airlines, up to 2 & 1.5 Skywards miles per USD for international and domestic spends respectively
Fast track to Skywards Gold tier membership for BOTH the primary as well as a supplementary card holder
Complimentary Emirates Skywards Silver Tier membership
Up to 120,000 Bonus Emirates Skywards miles (highest amongst all credit cards)
Complimentary Emirates home check-in services (only credit card to offer this benefit)
Complimentary airport transfers across UAE (up to 4 per year)
Complimentary valet parking benefits at Dubai & Abu Dhabi
Unlimited complimentary airport lounge access for each cardholder plus a guest
Highest category of Mastercard credit cards – ‘Mastercard World Elite’ benefits & offers

Minimum Salary requirement: AED 25,000

Annual Membership Fee: AED 4,500

All relevant features of this credit card, along with side-by-side comparisons can be seen at: www.soulwallet.com

Citibank Emirates Ultima credit card

The Citibank Ultima credit card is an exclusive premium credit card offering from Citi which is well known to be one of the leading credit card issuers in the world. Among other benefits this card offers the card holder the unique opportunity to hold a metal credit card. The Citibank Emirates Ultima credit card offers an extremely well-rounded feature set of good Skywards miles rewards across most categories, an excellent joining offer for customers applying online, and many other significant benefits including:

5 Emirates Skywards miles per USD of spend at Emirates Airlines, up to 1.5 & 1 Skywards mile(s) per USD for international and domestic spends respectively
Complimentary Emirates Skywards Silver Tier membership
AED 2,000 statement credit for online applications
Credit card is made of metal (only one among all Skywards credit cards)
Complimentary cinema offers at both VOX & Reel cinemas
Unlimited complimentary airport lounge access for each cardholder plus a guest
Highest category of Mastercard credit cards – ‘Mastercard World Elite’ benefits & offers

Minimum Salary requirement: AED 36,750

Annual Membership Fee: AED 3,000

All relevant features of this credit card, along with side-by-side comparisons can be seen at: www.soulwallet.com

Emirates Islamic Skywards Black Credit Card

The Emirates Islamic Skywards Black Credit Card offers premium features comparable with any other Skywards credit card offered by any bank in the UAE currently. It has the distinction of offering the highest Skywards miles earn rates across all Skywards credit cards in the UAE and also offers a host of excellent benefits including:

5 Emirates Skywards mile per USD of spend at Emirates Airlines, up to 2 & 1.5 Skywards miles per USD for international and domestic spends respectively
Complimentary Emirates Skywards Silver Tier membership
Fast track to Skywards Gold tier membership for BOTH the primary as well as a supplementary card holder
Complimentary airport transfers across UAE (up to 4 per year)
Complimentary valet parking benefits at Dubai & Abu Dhabi
Unlimited complimentary airport lounge access for each cardholder plus a guest
Highest category of Visa credit cards – ‘Visa Infinite’ benefits & offers including purchase protection, travel insurance & medical cover and so on
25% discount on purchase of Emirates Skywards miles
Option to earn 1 Skywards Tier mile for every 4 Skywards miles earned

Minimum Salary requirement: AED 25,000

Annual Membership Fee: AED 4,200

All relevant features of this credit card, along with side-by-side comparisons can be seen at: www.soulwallet.com

RAKBANK Emirates Skywards World Elite Mastercard Credit Card

The RAKBANK Emirates Skywards World Elite Mastercard is a premium credit card offering from RAKBANK that offers several unique benefits to card holders including:

Opportunity to earn Skywards miles across all spend categories with a unique tier-based rewards system
Complimentary Emirates Skywards Silver Tier membership
Fast track to Skywards Gold tier membership by maintaining an AED 500,000 deposit in an Emirates Islamic Skywards Savings account
Complimentary airport transfers across UAE and in India (up to 6 per year)
Unlimited complimentary airport lounge access for each cardholder plus a guest
Complimentary cinema offers at VOX cinemas (50% off for up to 4 tickets each month)
15% discount on purchase of Emirates Skywards miles
Option to earn 1 Skywards Tier mile for every 4 Skywards miles earned
Highest category of Mastercard credit cards – ‘Mastercard World Elite’ benefits & offers
Complimentary Discovery Black membership
Free petrol delivery via CAFU

Minimum Salary requirement: AED 20,000

Annual Membership Fee: AED 1,499

All relevant features of this credit card, along with side-by-side comparisons can be seen at: www.soulwallet.com

Best credit cards to “EARN SKYWARDS MILES FROM REGULAR SPENDS”:

This is perhaps the most important feature to be considered for any Emirates Skywards co-branded credit card as the main purpose for a cardholder is to maximize the Skywards miles earned during regular purchases made using their credit card.

This is also an aspect where there are significant differences in earning rates and eligibility requirements between the different Emirates Skywards credit card options available. Readers are advised to review these conditions carefully before arriving at a decision on which card is best suited to their specific spend patterns.

Please note that the best credit cards identified in this category tend to be ‘premium’ credit cards as they understandably have the best rewards as well as features and benefits that the bank can offer. As such, these credit cards are likely to have higher annual membership fees. However, the benefits offered by these credit cards most often can easily justify the annual fees charged. This is especially true if the cardholder takes advantage of the specific features and benefits on offer – another reason to ensure they apply for credit cards most suited to their specific needs.

ADIB Emirates Skywards World Elite Credit Card

The ADIB Emirates Skywards credit card is arguably the best premium Skywards credit card available not just for the range of benefits it offers but also being the most competitive in several key aspects. This card offers very generous Emirates Skywards miles for spends at Emirates Airlines, for international spends as well as for domestic retail spends in the UAE. This credit card would easily have been the only choice for earning miles but for the fact that it offers lower miles earning rates on several categories.

The ADIB Emirates Skywards World Elite Credit Card awards miles per USD (equivalent) spent on the credit card as below:

3 Skywards miles for purchases made at Emirates online or at Emirates sales offices
2 Skyward miles for purchases made in foreign currencies
5 Skyward miles for all other local purchases
25 Skywards miles for these categories – supermarkets, government transactions, utilities, education, petrol stations, real estate, public transportation, Salik and charities.

All relevant features of this credit card, along with side-by-side comparisons can be seen at: www.soulwallet.com

Emirates Islamic Skywards Black Credit Card

The Emirates Islamic Skywards Black Credit Card has the distinction of offering the highest Skywards miles earn rates across all Skywards credit cards in the UAE on spends at Emirates airlines and on international spends and domestic spends offers almost as many Skywards miles as the ADIB Emirates Skywards World Elite credit card. While it appears that all categories are covered under these 3 segments, there are certain categories of spends where this credit card offers much lower earn rates.

The Emirates Skywards Dubai Islamic Bank Infinite Credit Card awards miles per USD (equivalent) spent on the credit card as below:

5 Skywards miles for purchases made at Emirates online or at Emirates sales offices
2 Skyward miles for purchases made in foreign currencies
1.5 Skyward miles for all other local purchases
15 Skywards miles for spends on these categories – supermarkets, government services, utilities, education, petrol stations, real estate, insurance, car dealership, telecommunications, and quick service restaurants

All relevant features of this credit card, along with side-by-side comparisons can be seen at: www.soulwallet.com

Emirates Skywards Dubai Islamic Bank Infinite Credit Card

The Emirates Skywards Dubai Islamic Bank Infinite Credit Card is arguably the best credit card to maximise Emirates Skywards miles earnings as it offers an excellent combination of high earn rates on specific categories as well as no excluded spend categories. This is indeed a rarity as almost all other Emirates Skywards credit cards have restrictions on some segments of spend (such as groceries, utilities and so on) that have a lower earning rate.

The Emirates Skywards Dubai Islamic Bank Infinite Credit Card awards miles per USD (equivalent) spent on the credit card as below:

2 Skywards miles for purchases made at Emirates online or at Emirates sales offices
5 Skyward miles for purchases made in foreign currencies
1 Skyward mile for all other local purchases
A cap of AED 25,000 on government spends per statement (which we believe is quite generous!)

All relevant features of this credit card, along with side-by-side comparisons can be seen at: www.soulwallet.com

Citibank Emirates Ultima credit card

The Citibank Ultima credit card offers an attractive combination of a high earn rate along with minimal spend category restrictions. This credit card offers an even better earning rate on purchases made at Emirates as compared to the DIB Skywards Infinite above, however, it also pays a lower earnings rate on two specific categories and awards no miles on a few categories.

Emirates Skywards miles earned per USD (equivalent) spent on the card:

5 Skywards miles for purchases made at Emirates online or at Emirates sales offices
5 Skyward miles for purchases made in foreign currencies
1 Skyward mile for all other local purchases
Spends at groceries/supermarkets and related to real estate will earn 0.5 Skywards miles per USD of spend.
Spends on government services, utilities, and telecommunications do not earn any Skywards miles.

All relevant features of this credit card, along with side-by-side comparisons can be seen at: www.soulwallet.com

Emirates NBD Skywards Infinite Credit Card

The Emirates NBD Skywards Infinite Credit Card is also a good option for earning Skywards Miles on regular purchases. However, this card has a few categories on which earning rates are much lower than the base rate.

Emirates Skywards miles earned per USD (equivalent) spent on the card:

5 Skywards miles for purchases made at Emirates online or at Emirates sales offices
5 Skyward miles for purchases made in foreign currencies
1 Skyward mile for all other local purchases
2 Skywards miles for spends at duty free, online food delivery and car booking apps
25 Skywards miles for domestic purchases relating to groceries, supermarkets, insurance, car dealership and quick service restaurants
1 Skywards miles for domestic purchases relating to government services, utilities, education, petrol stations, real estate, transit and telecommunication

All relevant features of this credit card, along with side-by-side comparisons can be seen at: www.soulwallet.com

Best for “BONUS SKWARDS MILES”:

Several credit cards award “bonus” Emirates Skywards miles based on specific criteria, such as a minimum spend levels achieved on the credit card within a specific time period. In this category, there can be varying opinions on which is the “best” option as some cards award higher total maximum bonus miles but at the same time require higher spend levels and over shorter time periods as well. The “best” option here would be determined by the individual’s specific spend patterns.

ADIB Emirates Skywards World Elite Credit Card

Cardholders will be awarded a total of 120,000 bonus Emirates Skywards miles with this credit card which is the maximum offered by any Emirates Skywards credit card in the UAE. 50,000 welcome bonus miles are offered on payment of the membership fee, and another 70,000 Skywards miles are awarded if a total spend of AED 140,000 is met within the first 6 months of card issuance.

This credit card was chosen the winner as it has the best combination of the total bonus miles awarded and the overall minimum spend requirement over a period of 6 months. In addition, there are no specific spend category restrictions.

All relevant features of this credit card, along with side-by-side comparisons can be seen at: www.soulwallet.com

Emirates NBD Skywards Infinite Credit Card

The Emirates NBD Skywards Infinite credit card offers the next best Skywards bonus miles after the ADIB Emirates Skywards World Elite credit card. Cardholders can earn up to 100,000 bonus Emirates Skywards miles:

35,000 “Welcome Joining Miles” on payment of the joining fee
40,000 additional “spend based miles” if cumulative retail spend of USD 25,000 is achieved within 3 months
“Annual miles”: 25,000 miles will be credited if USD 7,500 is spent at Emirates (online or at sales offices) within the first 12 months

All relevant features of this credit card, along with side-by-side comparisons can be seen at: www.soulwallet.com

Emirates Skywards Dubai Islamic Bank Infinite Credit Card

This credit card offers cardholders 75,000 bonus Skywards miles but requires a balance transfer of at least AED 50,000 to earn 25,000 of the total miles. Earn up to 75,000 bonus Emirates Skywards miles:

25,000 miles on card activation
25,000 miles if spend of USD 20,000 is achieved in the first 4 statements
25,000 on balance transfer (minimum balance transfer of AED 50,000)

All relevant features of this credit card, along with side-by-side comparisons can be seen at: www.soulwallet.com

Best for “JOINING OFFERS”:

While it is usually not advisable to apply for a credit only to take advantage of a specific joining offer by the bank, it is worthwhile considering the joining offers in addition to all other benefits and features offered by the credit card.

Citibank Emirates Ultima credit card

Customers that apply online can get AED 2,000 back as a statement credit if a minimum retail spend of AED 25,000 is made within 90 days of the credit card being approved.

All relevant features of this credit card, along with side-by-side comparisons can be seen at: www.soulwallet.com

Citibank Emirates Ultimate credit card

Customers that apply online on Citibank UAE can get AED 800 as a statement credit if a minimum retail spend of AED 20,000 is made within 90 days of the credit card being approved.

All relevant features of this credit card, along with side-by-side comparisons can be seen at: www.soulwallet.com

Citibank Emirates World credit card

Customers that apply online on Citibank UAE can get AED 400 as a statement credit if a minimum retail spend of AED 10,000 is made within 90 days of the credit card being approved.

All relevant features of this credit card, along with side-by-side comparisons can be seen at: www.soulwallet.com

Best for “EMIRATES SKYWARDS MEMBERSHIP TIERS”:

As most readers are probably aware the Emirates Skywards Miles programme offers different “Tiers” of membership – Blue, Silver, Gold and Platinum. Each of these tiers offer different benefits to members, with the type and number of benefits increasing in that order – starting with Blue and ending with Platinum which offers the maximum benefits.

An important feature offered by some Emirates Skywards co-branded credit cards is automatic membership for the cardholder into a higher tier of the Emirates Skywards programme simply by virtue of having the credit card. This saves cardholders from having to ‘earn’ the minimum tie” miles required to be eligible for the specific tier level, obtained normally through purchase of tickets on Emirates airlines.

In this aspect as well, there are a few differences in the options available among the various Emirates Skywards credit cards. Most of these credit cards offer direct membership to the Silver Tier for the primary cardholder. A few credit cards also provide supplementary card holders the opportunity to enjoy Silver status, subject to a few conditions being met. However, only 3 credit cards offer cardholders the option to upgrade to the Gold Tier Skywards membership. This can be considered to be a significant perk of having the card by people who value the Gold membership tier in the Emirates Skywards program.

Emirates Islamic Skywards Black Credit Card

The Emirates Islamic Skywards Black Credit Card offers card holders the opportunity to fast track to Emirates Skywards Gold tier membership by simply spending AED 5,500 at Emirates Airlines within 12 months from the card issuance date. This credit card also offers one supplementary card holder the option to get Gold tier membership status by spending AED 5,500 at Emirates Airlines and payment of an annual membership fee of AED 4,000. This is the quickest option to gain Emirates Skywards Gold tier membership amongst all Skywards credit cards offered in the UAE.

All relevant features of this credit card, along with side-by-side comparisons can be seen at: www.soulwallet.com

ADIB Emirates Skywards World Elite Credit Card & ADIB Emirates Skywards World Credit Card

Both Emirates Skywards credit cards offered by Abu Dhabi Islamic Bank (ADIB) offer cardholders Skywards Silver Tier membership as a basic feature of the card. However, in addition they both also offer cardholders the option to upgrade their Silver Skywards membership tier to the Gold tier if specific spend based criteria are met. Additionally, both these cards also offer the supplementary cardholder with the opportunity to upgrade to Gold tier status.

With the ADIB Emirates Skywards World Elite credit card cardholders can get Skywards Gold Tier membership by simply spending AED 5,500 at Emirates airlines within 12 months. For the supplementary card holder, a spend of AED 200,000 (+ AED 5,500 at Emirates Airlines) within the first 12 months is required to get fast tracked to Emirates Skywards Gold Tier membership status.
For the ADIB Emirates Skywards World credit card the primary cardholder can get Gold tier membership with a total spend of AED 150,000 and spend of AED 5,500 on Emirates within 12 months
For the supplementary cardholder: total spend of AED 300,000 and spend of AED 5,500 on Emirates within 12 months

All relevant features of this credit card, along with side-by-side comparisons can be seen at: www.soulwallet.com

RAKBANK Emirates Skywards World Elite Mastercard Credit Card

The RAKBANK Emirates Skywards World Elite Mastercard offers cardholders Silver tier membership as a default offering. Additionally, it also offers the opportunity to fast-track to Skywards Gold tier membership based on the below criteria being met:

Minimum spend of AED 5,500 at Emirates
On maintenance of an average quarterly balance of AED 500,000 in the customer’s RAKBANK savings account

This credit card also offers supplementary cardholders the option to enroll in the Skywards Silver Tier membership at a fee of AED 900 per year.

All relevant features of this credit card, along with side-by-side comparisons can be seen at: www.soulwallet.com

The below Emirates Skywards credit cards all offer the primary cardholder complimentary Skywards Silver Tier membership as a benefit:

Citibank Emirates Ultima credit card
Dubai Islamic Emirates Skywards Infinite credit card
Emirates Islamic Skywards Infinite credit card
Emirates NBD Skywards Infinite credit card

All relevant features of this credit card, along with side-by-side comparisons can be seen at: www.soulwallet.com

Best for “ASSOCIATION FEATURES AND BENEFITS”:

The relevance of this for a cardholder is that there are specific benefits and features offered by these associations to the cardholder by virtue of the partnership between the bank and the association. Similar to the different tier levels available in the Emirates Skywards miles programme, both Visa and Mastercard offer different “tiers” or levels of benefits for different credit card types.

Please note that these association features are offered in partnership with the banks and are for the most part a standard offering for the specific credit card type across all banks. Examples of these include VIP airport lounge access, travel insurance cover, car rental offers and so on. Please note that the type of benefits offered vary significantly between Visa and Mastercard.

These (Visa/Mastercard) features must not be confused with specific features offered by banks directly to their cardholders which are not part of the Visa or Mastercard benefits. Examples of such bank-specific features include complimentary valet parking, cinema tickets, airport transfer offers and so on.

Customers are advised to review closely all the features offered for each credit card to understand all the benefits available before arriving at the best credit suited to them.

Below is a categorization of the available Emirates Skywards options based on their Visa or Mastercard credit card association type:

Mastercard

Mastercard World Elite:

This is the top-of-the-line tier of credit card benefits offered by Mastercard and are available in the following credit cards:

ADIB Emirates Skywards World Elite credit card
Citibank Emirates Ultimate credit card
RAKBANK Emirates Skywards World Elite Mastercard credit card

Mastercard World:

This is the second highest tier of credit card benefits offered by Mastercard and are available in the following credit cards:

ADIB Emirates Skywards World credit card
Citibank Emirates World credit card

All relevant features of this credit card, along with side-by-side comparisons can be seen at: www.soulwallet.com

Visa

Visa Infinite:

This is the top-of-the-line tier of credit card benefits offered by Visa and are available in the following credit cards:

Citibank Emirates Ultima credit card
Emirates Islamic Skywards Black credit card
Dubai Islamic Emirates Skywards Infinite credit card
Emirates Islamic Skywards Infinite credit card
Emirates NBD Skywards Infinite credit card

Visa Signature:

This is the second highest tier of credit card benefits offered by Visa and are available in the following credit cards:

Dubai Islamic Emirates Skywards Signature credit card
Emirates Islamic Skywards Signature credit card
Emirates NBD Skywards Signature credit card

Visa Platinum:

This is the third highest tier of credit card benefits offered by Visa and are available in the following credit cards:

Dubai Islamic Emirates Platinum credit card

All relevant features of this credit card, along with side-by-side comparisons can be seen at: www.soulwallet.com

Unique benefits available through various Emirates Skywards credit cards:

Complimentary Airport Transfers

RAKBANK Emirates Skywards World Elite Credit Card
- Enjoy chauffeured airport pick-up or drop off service complimentary 6 times each year in the UAE or avail of this service a maximum of 3 times in India (Mumbai, Chennai, Kolkata, Bengaluru and Delhi – within city limits).

ADIB Emirates Skywards World Elite Credit Card & ADIB Emirates Skywards World Credit Card
- 4 complimentary per year anywhere in the UAE. Value of rides capped at AED 150 in Dubai and Sharjah and AED 350 in Abu Dhabi, Al Ain and other Emirates
Emirates Islamic Skywards Black credit card
- Take advantage of up to 4 complimentary airport transfers per calendar year to or from Dubai airport.

Emirates NBD Skywards Infinite Credit Card
- Up to 4 complimentary airport transfers per calendar year in UAE. Only transfers within city limits, i.e. no intra-city transfers.

Cinema Discounts & Offers

Citibank Emirate Ultima credit card, Citibank Emirates Ultimate credit card & Citibank Emirates World credit card
- Enjoy up to 4 “Buy-1-Get-1” complimentary movie tickets with VOX Cinemas each month on any day of the week.
- Up to 2 “Buy-1-Get-1” complimentary movie tickets plus 20% off food & beverage with REEL cinemas each month on any day of the week.
- (Please note both the above benefits are available only for bookings made on the Primary credit card)
RAKBANK Emirates Skywards World Elite Credit Card
- 50% off at VOX cinemas at all times, up to 4 times each month
Emirates Islamic Skywards Infinite credit card, Emirates Islamic Skywards Signature credit card
- Enjoy up to 3 “Buy-1-Get-1” complimentary movie tickets at REEL Cinemas each month on any day of the week.
- (Please note both the above benefits require a minimum spend of AED 3,000 per month)

Complimentary Emirates home check-in:

ADIB Emirates Skywards World Elite Credit Card – 4 times per year for passengers traveling from Dubai.
ADIB Emirates Skywards World Credit Card – 2 times per year for passengers traveling from Dubai.

Health & Fitness Benefits:

Dubai Islamic Skywards Infinite Credit Card
- complimentary access to the Emirates Towers health club (and swimming pool) at any time, any day of the week.

Discounts on Emirates Skywards Miles

RAKBANK Emirates Skywards World Elite Credit Card
- 15% discount on buying Skywards miles for self or as a gift (minimum purchase of 2,000 miles required)

Earn Emirates Skywards Tier Miles

Emirates Islamic Skywards Black credit card, Emirates Islamic Skywards Infinite credit card & Emirates Islamic Skywards Signature credit card
- Earn 1 Skywards Tier Mile for every 4 Emirates Skywards
RAKBANK Emirates Skywards World Elite Credit Card
- 15% discount on buying Skywards miles for self or as a gift (minimum purchase of 2,000 miles required)

We hope this article has been useful in giving you a better understanding of the various Emirates Skywards miles credit card options available in the UAE. While we have highlighted the best options for specific benefits offered by these credit cards we highly recommend that you review all the features in detail before deciding which is the best credit card for you. After all, the process of identifying the best option and applying for a credit card is not something undertaken regularly and therefore getting it right will not only help you maximise potential saves but will also help you enjoy the unique benefits most relevant to your individual preferences.

Detailed features and benefits along with side-by-side comparisons of all these credit cards and more can be found at www.soulwallet.com.

Best Cashback Credit Cards in May 2022

Posted on November 17, 2021May 18, 2022 by admin

Cashback credit cards are quite popular among credit card customers in the UAE. It is not easy for one to compare and identify which card offers the highest cashback on specific categories. The purpose of this article is to help customers get an overview of popular cashback credit cards available in the UAE.

Soulwallet’s analysts have done the heavy lifting to review all popular credit cards available in the UAE and provide relevant and useful information which can help you understand the key differences between each card and help one make a better-informed decision while signing up for a credit card.

What is a cashback credit card?

Cashback credit cards are credit cards that offer customers a benefit of earning back a percentage of his or her spend on the card through a direct cash back credit. For example, if a card offers you cashback of 5% on all supermarket spends and you use this card in a supermarket for AED 1,000 in a particular month, the bank will give you a credit of AED 50 (5% of AED 1,000) in your next credit card statement. This means that you have effectively saved AED 50 and your supermarket spend only actually cost you AED 950. Cashback credit cards can be very useful in helping you maximize your savings by simply using your credit card.

You must always be aware of the specific conditions associated with the cash back credit card. Almost all cash back credit cards have very specific conditions on what type of purchases allow you to earn cash back credits. These could be based on categories such as grocery or supermarket purchases, fuel purchases, retail purchase, dining and restaurant purchases and so on. In addition to the specific category of spend almost all cash back credit cards will have limits on how much cash back you can earn. This could be based on a maximum spend per category type, for example, cash back credit on grocery purchases could be capped at grocery spends of AED 3,000 per month. In such a scenario, if the cash back percentage was 5% then the maximum amount you can save each month on grocery spends would be AED 150 (5% of AED 3,000).

Certain banks could also set minimum spend requirements to be eligible to earn cash back credits. Usually, this is based on minimum spends on a specific category of purchases or on the overall total spend on the credit card for the month. For example, a bank could specify that cash back credits can be earned if a minimum spend of AED 1,000 is reached during the month.

The form of cash back given to you can also vary. Some credit cards offer you direct statement credits for the value of cashback earned. These can then be considered as good as a cash payment. Some cashback credit cards offer gift vouchers at specific stores or malls for the value of cashback earned. Some banks may require customers to contact them to redeem cashback miles while others may simply credit the cashback earned to customers without any request having to be placed (automatic cashback).

As you can see, there are a lot of aspects to keep in mind in trying to ascertain the most suitable cashback credit card for you. Having a sound understanding of the cashback conditions of any credit card and your specific spend patterns will help you make an informed decision on the cashback credit card to choose for you. However, since there are more than 200 credit cards in the UAE market and a lot of them offering some form of cashback, it is almost impossible for one to understand which card is most suitable to them. Therefore, a cash back simulator as provided by SoulWallet can be invaluable in saving you the trouble of hours of research in identifying the right credit card for you.

FAB Cashback Credit Card, Mashreq Cashback Credit Card and Rakbank Titanium Credit card are available for customers earning a fixed salary of AED 5000 per month.

Bank	Card Name	Joining offer	Annual Fee	Sal required
Citi	Citi Cashback	AED 500 Cashback as joining bonus	0	8000
FAB	FAB Cashback	AED 300 Welcome bonus	AED 315	5000
Mashreq	Mashreq Cashback	AED 500 Joining bonus (AED 100 for existing card holders)	0	5000
Rakbank	Rakbank Titanium	None	0	5000
CBD	CBD Super Saver Credit Card	None	1st year free 2nd year AMF AED 420	8000
HSBC	Cashback Credit Card	AED 300 cashback gets you started	1st year free AED 313.95 with VAT from second year	10000
Dubai First	Cashback Credit Card	AED 250 bonus cashback Complimentary 1 year Amazon	AED 400	10000
Emirates Islamic	Cashback Plus Credit Card	None	0	12000
Standard Chartered Bank	Cashback Credit Card	None	1st year free AED 525 from 2nd year	8000

Best for “International” transactions

Citibank Cashback Credit Cards has the best cashback rate of 3% unlimited on international transactions. This is followed by FAB Cashback Credit Card and Mashreq Cashback Credit Card at 2%.

Bank	Citi	FAB	Mashreq	Rakbank	CBD	HSBC	Dubai First	Emirates Islamic	Standard Chartered Bank
Card Name	Cashback Credit Card	Cashback Credit Card	Cashback Credit Card	Titanium	Super Saver Credit Card	Cashback Credit Card	Cashback Credit Card	Cashback Plus Credit Card	Cashback Credit Card
International spend	3%	2%	2%	1% for <15K 2% for >15K Spend Max Cap AED1500	1% on AED 2 spend	1%	1%	NA	2%

Best for “Groceries / Supermarket” related transactions

Fab cashback credit card offers 5% on this category however with a cap of AED 500 in a month. HSBC Cashback credit card offers 3% on this category but with a cap of AED 200 a month. These cards do not have a minimum spend requirement for earning the cashback on these categories.

Bank	Citi	FAB	Mashreq	Rakbank	CBD	HSBC	Dubai First	Emirates Islamic	Standard Chartered Bank
Card Name	Cashback Credit Card	Cashback Credit Card	Cashback Credit Card	Titanium	Super Saver Credit Card	Cashback Credit Card	Cashback Credit Card	Cashback Plus Credit Card	Cashback Credit Card
Groceries / supermarket	2%	5% - MC AED 500	1%	5% - AED 150 and MS 1500	MS >3<10K 3% 75 MS <20K 5% 100 MS >20K 10% 150	3% MC 200	5%	MS >3<10K 3%	1%

MS: Minimum Spend : This is the minimum spend required to earn cashback in this category

MC: Maximum Cap: This is the maximum cashback one could earn in this category

Best for “Fuel” related transactions

FAB Cashback credit card offers 5% on this category with a maximum cap of AED 250 a month. HSBC offers 10% however on a maximum cap of AED 100 a month.

Bank	Citi	FAB	Mashreq	Rakbank	CBD	HSBC	Dubai First	Emirates Islamic	Standard Chartered Bank
Card Name	Cashback Credit Card	Cashback Credit Card	Cashback Credit Card	Titanium	Super Saver Credit Card	Cashback Credit Card	Cashback Credit Card	Cashback Plus Credit Card	Cashback Credit Card
Fuel	1%	5% - MC AED 250	0.33%	0.25%	1% on AED 2 spend	10% MC 100	1%	NA	1%

Best for “Utility” (Electricity, water) transactions

FAB cashback credit card clearly the best on this category with a 5% cashback and a maximum cap of AED 250

Bank	Citi	FAB	Mashreq	Rakbank	CBD	HSBC	Dubai First	Emirates Islamic	Standard Chartered Bank
Card Name	Cashback Credit Card	Cashback Credit Card	Cashback Credit Card	Titanium	Super Saver Credit Card	Cashback Credit Card	Cashback Credit Card	Cashback Plus Credit Card	Cashback Credit Card
Utilities	1%	5% - MC AED 250	0.33%	0.25%	MS >3<10K 3% 75 MS <20K 5% 100 MS >20K 10% 150	1%	1%	NA	1%

Best for “Online” transactions

Dubai First Cashback card is a clear winner on this category. With no caps and no spend requirement this card offers 5% which is the best among all competitors.

Bank	Citi	FAB	Mashreq	Rakbank	CBD	HSBC	Dubai First	Emirates Islamic	Standard Chartered Bank
Card Name	Cashback Credit Card	Cashback Credit Card	Cashback Credit Card	Titanium	Super Saver Credit Card	Cashback Credit Card	Cashback Credit Card	Cashback Plus Credit Card	Cashback Credit Card
Online	1%	1%	1%	1% for <15K 2% for >15K Spend Max Cap AED1500	1% on AED 2 spend	1%	5%	NA	1%

Best for “Dining” transactions

Mashreq cashback card offers 5% on this category followed by which can go up to 2%, however with a spend requirement to be met. Emirates Islamic Offers up to 5, however with a cap of AED 200. EIB requires AED 3000 of minimum spend for cashback. ADIB Edge card offers 10% cashback on dining. Since it is a reward point card we have not included the same in the comparison.

Bank	Citi	FAB	Mashreq	Rakbank	CBD	HSBC	Dubai First	Emirates Islamic	Standard Chartered Bank
Card Name	Cashback Credit Card	Cashback Credit Card	Cashback Credit Card	Titanium	Super Saver Credit Card	Cashback Credit Card	Cashback Credit Card	Cashback Plus Credit Card	Cashback Credit Card
Dining	1%	1%	5%	1% for <15K 2% for >15K Spend Max Cap AED1500	1% on AED 2 spend	1%	1%	MS >3<10K 3%	1%

Best for other categories

Bank	Card Name	Telecom	Govt	Cinema	Education	Transport
Citi	Cashback Credit Card	1%	1%	1%	1%	1%
FAB	Cashback Credit Card	1%	1%	1%	1%	1%
Mashreq	Cashback Credit Card	0.33%	0.33%	1%	1%	1%
Rakbank	Titanium	0.25%	0.25%	50% - AED 70 MS 5000	0.25%	0.25%
CBD	Super Saver Credit Card	MS >3<10K 3% AED 75 MS <20K 5% AED 100 MS >20K 10% AED 150	1% on AED 2 spend	1% on AED 2 spend	MS >3<10K 3% AED 75 MS >20K 10% AED 150 MS >20K 10% AED 150	MS >3<10K 3% AED 75 MS <20K 5% AED 100
HSBC	Cashback Credit Card	1%	1%	1%	1%	1%
Dubai First	Cashback Credit Card	1%	1%	1%	1%	1%
Emirates Islamic	Cashback Plus Credit Card	MS >3<10K 3% MS <17.5K 5% MS >17.5K 10% MC 200 per category	NA	NA	MS >3<10K 3% MS <17.5K 5% MS >17.5K 10% MC 200 per category	NA
Standard Chartered Bank	Cashback Credit Card	1%	1%	1%	1%	1%

Few important points to consider on the below cards

CBD Supersaver Card

Maximum cap of AED 3000 across all categories.
Spend based earning of rewards per category.
Maximum cashback of AED 600 across 4 BEST categories.
Minimum spend of AED 3K required

Rakbank Titanium Credit Card

All domestic and international transactions under the category of Charities, Government Services, Bill Payments, Schools, Education, Transits, Transport, Telecommunication, Real Estate, Petrol/Gas stations, Health & Beauty, Club Membership, Computer Services, Automobiles & Vehicles and Insurance Services will earn 0.25% cashback for every AED 1 spent.

all domestic and international transactions under the category of Charities, Government Services, Bill Payments, Schools, Education, Transits, Transport, Telecommunication, Real Estate, Petrol/Gas stations, will earn 0.25% cashback for every AED 1 spent.

Emirates Islamic Cashback Plus Credit Card

A minimum spend of AED 3000 is required for earning cashback.

FAB Cashback Credit Card

Telecom excluded in utilities category
Caps for Groceries, Fuel and Utilities and no caps on other categories.

Above review is based on analysis done during the month of February 2021. The product features such as category rates, caps, spend requirement, AMF or joining offers can change. Readers are requested to validate the specifics with the banks at the time of application.

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The editorial team at Soulwallet is committed to accurate and relevant content intended to assist our readers while making personal finance decisions. We are glad to get feedback on the article and make necessary corrections if required. You can email the editorial team at support@soulwallet.com. Our editorial advice, recommendations and product assessments are not influenced by business partners.

How to Effectively Manage Credit Card Transactions during COVID-19

Posted on July 25, 2021July 27, 2021 by admin

The impact of the COVID-19 pandemic is devastating, and it has made keeping up with monthly bills and payments a huge challenge. To ease the tension, banks and credit card companies have come up with offers & policies to provide financial relief to their customers.

If you have credit card debt and are finding it difficult to manage the payments during the coronavirus pandemic, this article will guide you on how you can manage your credit card bill payments. These Credit card companies in UAE are offering the following relief measures:

Most banks, financial institutions, and credit card companies are offering help during these uncertain times, but it can vary depending on the credit card issuer.

Here are some offers by UAE banks, you can check with your card issuer for offers other than these:

HSBC Bank: Customers who are stressed about making their credit card payments during COVID-19 pandemic can have a payment holiday for up to 3 months. HSBC credit card holders can delay their bill payments including the minimum payment for up to 3 months, but during this time interest will be incurred as usual on the outstanding balance and to all the new transactions made during the payment holiday period. However, the credit card limit will be reduced to AED 5,000. Once the payment holiday is over, the card holders will be expected to resume the payments.

Contact information to get help:

Write an email at contactus.me@hsbc.com
Call their help centre at 800 5233/ 800 4320/ 800 4420

Abu Dhabi Islamic Bank: ADIB has increased the temporary limit o ADIB cards and, they have also introduced 5% cashback on utility & grocery bills for 3 months. ADIB has been active & responsive to the needs of their customers. They have also come up with no cost instalments schemes for card expenditures for a period of 6 months.

Contact information to get help:

Contact their help centre at 600503033

First Abu Dhabi Bank (FAB): FAB is one of the largest banks in the UAE and has declared some COVID relief measures for its customers. FAB has decided to cover the interest charges of all the customers along with relief on fees as well as repayments since April 2021. The bank has also waived off FX fees on cancel hotels and airline bookings along with temporary 50 percent reduction on late payment fees for 3 months.

Contact information to get help:

Use the registered email id to seek help by writing to here2help@bankfab.com
Request help using their Mobile App

Abu Dhabi Commercial Bank (ADCB): ADCB has deferred payments up to 6 months for their customers along with other relief measures for people who fall under COVID- 19 Targeted Economic Support Scheme category.

Contact information to get help:

Write an email seeking help at contactus@adcb.com
Call the contact centre at 600 50 2030 or 600 56 2626 (Islamic Banking)

Standard Chartered Bank (SCB): SCB has reduced cash advance fee by 50% with zero percent interest rates on EMI and zero processing fee. If you have made travel bookings with your Standard Chartered Bank, you can get a refund. Card holders have to submit the below documents to avail the benefits of the bank:

A letter from your employer stating that COVID-19 is the reason behind your termination.
A document showing COVID-19 restrictions have affected repayments of your credit card bills.
An attested letter from the Ministry of Health saying you were infected by COVID-19.
Bank statement showing a loss of up to 20% monthly revenue of those who are self-employed.

Contact information to get help:

Write at covid.19relief@sc.com for help

Here are some tips to help you manage your credit card bills and help you survive in the uncertain times.

Set up a budget and stick to it to avoid late and excess payments.
Lower your non-essential expenses to reduce the burden of debt, managing a credit card is easy if you maintain your expenses.
If you have more than one credit card and are in a financial situation, try clearing the card by paying minimum dues on each card starting from the one with higher interest rates.
Avoid withdrawing cash from credit card to prevent high interest rates and high fees.
If you are shopping on monthly instalments try to opt for 0% EMI plan.
If you have higher interest rates on a bank you can transfer the balance to a card with lower interest rates to avoid hassle later.
To avoid credit card debt, decrease your expenses instead of increasing your credit limit.

To Conclude

If you have credit card from banks other than the ones we have mentioned then, please reach out to your banks and understand the benefits they are offering to provide you with a financial relief during COVID-19 pandemic. Follow and stay updated with the COVID-19 relief measures given by banks. We also strongly recommend that you check out our article on how credit cards can come in handy in such situations. Click here to find out more.

Best Credit Cards to Get in 2021

Posted on May 17, 2021August 12, 2024 by admin

Financial health is an important element in our lives. In times like these, it is important that we must ensure that our financial health is in best order. Credit cards are one way where we can ensure that our spends are rewarded in a good measure through loyalty rewards which is a form of a saving. This article talks about some of the best credit cards in the UAE across categories such as premium, cashback and no fee cards.

Things to note before one applies for a credit card.

We must understand our financial ability on repayments before signing up for a credit card. Since this can have a significant impact on one’s credit score which happens to be a basic requirement for any future credit requirements, one must ensure that the need and ability to pay in a disciplined manner is evident.

Some of the top reasons why customers opt for credit card are.

Loyalty rewards in the form of cashback, reward points or airmiles are standard feature in most of the cards. Credit card issuing companies attract customers by offering value through attractive loyalty rewards.
Features such as airport lounge access, valet service, buy 1 get 1 offers, promotional balance transfer rates, free movies etc., are popular and does provided value to customers who use these services.
Most of the credit card issuing companies offer attractive joining offers to new customers. These can be in the form of promotional cashback rates for a specific period, joining bonus airmiles, free hotel stays and so on.

Soul wallet’s extensive research on products available in the UAE is primarily to cater to customer needs in clearly understanding which the suitable cards are customized to one’s individual spend patterns.

Most of the products listed below are from our partners who compensate us. However, the review is completely unbiased and an individual opinion of Soulwallet based on product features, customer feedback etc., One must be aware that some of the product features might change at the time of your application, hence we recommend that customers revalidate specific reward features prior to application.

Best Cashback Credit Cards 2021

Product Name	Bank Name	Annual Fee	Profit / Interest Rate	Minimum Salary	Top Reasons	Apply Now
Cashback Credit Card	FAB	315	3.50%	5000	Ramadan Offer: AED 250 Cashback for Expatriates within 30 days (valid up to 31-May-21), Ramadan Offer: AED 750 Cashback for UAE Nationals within 30 days (valid up to 31-May-21), 5% cashback on supermarket (including online), fuel and utilities.2% cashback on non-AED spends. 1% cashback on all other retail spends, including online shopping Up to 2 discounted tickets at VOX. No limits on how much you can earn with FAB Cashback Credit Card	Apply for FAB Cashback Credit Card Online
World Credit Card	RAKBANK	0	3.25%	20000	Monthly spend AED 15,000 to AED 19,999 earn cashback on: Travel - 5% (max AED 300),Supermarkets - 5% (max AED 200) Monthly spend above AED 20,000 earn cashback on: Travel - 10% (max AED 600) , Supermarkets - 10% (max AED 400) Monthly Spend : Up to AED 14,999 - 3% (international), 1% (domestic) Monthly spend AED 14,999 to 29,999 - 4% (international), 2% (domestic) Above AED 30,000 - 5% (international), 3% (domestic) 50% off at VOX cinema tickets Free Delivery of Fuel by CAFU at your doorstep; Free Travel Accident & Medical Cover Free for first year.	Apply for RAKBANK World Credit Card Online
Cashback Plus Card	Emirates Islamic	299	3.49%	5000	Cashback on Supermarket, Education, Dining; telecom for total monthly spend level: Up to AED 2,499 - 0% cashback Between AED 2,500; AED 7,499 - 3% cashback Between AED 7,500; AED 14,999 - 5% cashback Above AED 15,000 - 10% cashback Maximum Cash Back Per Month - AED 200 for above categories, except Education as the cap is AED400 Earn up to 10% cashback on specific categories; Embedded Nol chip for RTA benefits; Unlimited Lounge Access; Complimentary Golf any day of the week	Apply for Emirates Islamic Cashback Plus Card Online
Super Saver Credit Card	CBD	420	3.45%	8000	10% cashback on the following everyday retail spend categories, capped at AED 200 per category, per month. A minimum monthly total spend of AED 3,000 across all categories is required to start earning cashback Bills (e.g. Telecomm Bills, Utilities Bills and Government-Linked Payments) Education (e.g. Schools, and Colleges/Universities in the UAE and abroad), Supermarket (e.g. Grocery Stores), Transport (e.g. Fuel), Earn up to 1% Cashback on every AED 2 on all other spends, with no caps. Maximum Cashback per month is AED 200 per category (800 in total). Frist year free on primary card	Apply CBD Super Saver Credit Card Online
Cashback Credit Card	Citibank	0	3.25%	8000	3% on all International Spends, 2% on grocery/supermarket spends and 1% on all other spends. No caps, no minimum spend, no redemption process and no spend categories excluded. Exclusive Soulwallet offer of AED 300 gift card on booking	Apply for Citi Cashback Credit Card Online

Best Reward Points Credit Cards 2021

Product Name	Bank Name	Annual Fee	Profit / Interest Rate	Minimum Salary	Top Reasons	Apply Online
Go4it Platinum Credit Card	Emirates NBD	0	3.25%	12000	Exclusive cinema offers, Life time free card along with a AED 300 Noon.com voucher Earn Plus Points for every spend and redeem them instantly at your favourite stores. You can also convert your Plus Points to Frequent Flyer Miles or Cash back. 5 Plus Points for every AED 200 spend on weekends. 4 Plus Points for every AED 200 spend on RTA. 1 Plus Points for every AED 200 spend on weekdays	Apply for Emirates NBD Go4it Platinum Credit Card Online
Lulu Platinum Credit Card	ADCB	0	3.25%	15000	No Annual Fee, Interest-free balance transfers, Redeem reward points instantly at Lulu, Benefits at Ferrari World & Yas Water world, Lulupoints can be redeemed with supplementary card. Earn LuluPoints for every 1 AED spent earn 5 LuluPoints on purchases made at all Lulu stores in UAE. For every 1 AED spent earn 1.25 LuluPoints on purchases made elsewhere subject to meeting a monthly spend goal of AED 3,500 (Lulu elsewhere). 5000 Lulupoints gives voucher worth AED 50. Points can be redeemed instantly at the checkout counters of Lulu Hypermarket across UAE. Can be redeemed for as low as 5000 Lulupoints with supplementary card as well.	Apply for ADCB Lulu Platinum Credit Card Online
EDGE Card	ADIB	750	2.99%	15000	10% cashback on all dining spend in UAE, Extensive travel insurance and protection, ADIB Rewards Program, Earn 2.5 reward points for 1 AED you spend on your card. ;Points earned can be used towards airline tickets, shopping mall vouchers and Club Apparel gift cards.	Apply for ADIB EDGE Card Online
GEMS Titanium Credit Card	FAB	0	3.5%	5000	No annual fee. Up to 4.25% fixed discount on advanced payment of GEMS fees. 10% Cashback with Shop Smart. Enjoy access to airport lounges across the Middle East. Enjoy special offers at restaurants, premium retail etc. Earn 1 Star for every AED 1 spent on Domestic purchases Earn 1.75 Stars for every AED 1 spent on International purchases Redeem your Stars for Etihad Guest Miles, Skywards Miles from Emirates, or to book tickets on any airline through Stars Travel Portal.	Apply for FAB GEMS Titanium Credit Card Online
Rewards Credit Card	Citibank	0	3.25%	8000	Earn ThankYou Reward points on all spends, VoucherSkout-Signup offer, Enjoy a 12-month amazon premium membership free, Get AED 300 worth of gift cards exclusively on Soulwallet Earn 1.5 ThankYou Points for any USD 1 spent in foreign currency Earn 1 ThankYou Points for any USD 1 spent in local currency (AED) 10 ThankYou Points for every USD 1 spent on hotel bookings at Kaligo.com With your ThankYou Points you have the flexibility to redeem for travel rewards, merchandise, gift vouchers and many other rewarding experiences Choose from merchandise ranging from apparel to electronics to home goods and more Pay with Points for your purchases through SMS or Citibank Online	Apply for Citi Rewards Credit Card Online

Best Travel Credit Cards 2021

Product Name	Bank Name	Annual Fee	Profit / Interest Rate	Minimum Salary	Top Reasons	Apply Online
Booking.com Infinite Card	ADIB	2000	3.29%	20000	200,000 sign-up reward points, Flight and hotel booking discounts, Extensive premium travel & lifestyle benefits Earn rewards on all spends & cashback on specific categories through ADIB Rewards Program - Earn 3 reward points for every AED 1 domestic or international spend Redeem your points against flight tickets/hotel bookings on Any Airline, Any Hotel Worldwide or Shopping Mall Vouchers or Club Apparel gift cards. Redemption Value: Every 10,000 points = 50; every 100,000 points = AED 1,000 Shopping mall vouchers Redeem Reward points against shopping mall vouchers: Sharjah Mega Mall, Dubai Festival City, Abu Dhabi Mall, Sahara Centre - Sharjah	Apply for ADIB Booking.com Infinite Card Online
Etihad Guest Infinite Credit Card	FAB	2500	3.5%	30000	75% Etihad Guest Miles Discount Voucher; Fast Track Enrolment to Etihad Guest Gold Membership; Complimentary Inflight Wifi Vouchers; Optional Etihad Guest Miles Accelerator;55,000 welcome Etihad Guest Miles Domestic transactions (AED): 4.5 Miles earned per AED 10, International transactions (non-AED): 6.0 Miles earned per AED 10 Etihad or Etihad Airways partners: 9.0 Miles earned per AED 10 Balance transfer (from other bank credit cards): 2.5 Miles earned per AED 10	Apply for FAB Etihad Guest Infinite Credit Card Online
Premier Credit Card	Citibank	0	3.50%	15000	Complimentary Movies and Golf Offers, VoucherSkout-Signup offer, Enjoy a 12-month amazon premium membership free, Get AED 500 worth of gift card of your choice exclusively on Soulwallet (pls refer to terms and conditions) Earn 2 ThankYou Points per USD on international spent and 1.5 ThankYou Points per USD of local spend With ThankYou Points you have the flexibility to redeem for travel rewards, merchandise, gift vouchers and many other rewarding experiences. Transfer your ThankYou Points to 15 airline and hotel partners for flights and hotel stays. Book flights, hotels, rental cars and holiday packages with no blackout dates for bookings Choose from merchandise ranging from apparel to electronics to home goods and more	Apply for Citi Premier Credit Card Online
Emirates Skywards World Elite Mastercard Credit Card	RAKBANK	1499	2.45%	20000	Get up to 160,000 Bonus Skywards Miles, Emirates Skywards Silver Tier Status, Access to 900+ airport lounges across the world, Fast Track to Gold Tier status, 1-night free stay at Rixos JBR Earn Emirates Skywards Miles on all spends based on spend tiers AED 2,000 to AED 4,999 - 600 Skywards miles AED 5,000 to AED 9,999 - 2,000 Skywards miles AED 10,000 to AED 19,999 - 5,000 Skywards miles AED 20,000 to AED 29,999 - 8,000 Skywards miles AED 30,000 to AED 39,999 - 11,000 Skywards miles AED 40,000 to AED 49,999 - 16,000 Skywards miles AED 50,000 to AED 74,999 - 20,000 Skywards miles AED 75,000 to AED 99,999 - 30,000 Skywards miles AED 100,000 - 40,000 Skywards miles Skywards Miles award will be reduced to 50% if spend in special categories (such as Charities, Government Services, Bill Payments, Schools, Transits, Transport, Telecommunication, Real Estate, Petrol/Gas stations, Supermarkets, Health & Beauty, Club Membership, Motion Pictures & Theatres, Computer Services, Automobiles Vehicles) exceeds 50% of total spends for the month.	Apply for RAKBANK Emirates Skywards World Elite Mastercard Credit Card Online
Skywards Signature Credit Card	Emirates NBD	700	3.25%	15000	Best-in-class Skywards Miles earning - earn and redeem miles; Good lifestyle offers; Complimentary, unlimited worldwide lounge access; Exclusive Concierge Desk and privileges Earn Skyward Miles per 1 USD of spend: Earn 1.5 Miles on Emirates and fly Dubai spends Earn 1.5 Miles on duty free, online food delivery and car booking apps spends Earn 1 Mile on International spends Earn 0.75 Miles on Domestic spends	Apply for Emirates NBD Skywards Signature Credit Card Online

Key Tips for First time Credit Card Users
Credit cards can be outstanding tools to better your financial health. Not only can they extend you valuable credit to purchase necessary goods or services, but they can provide attractive rewards that can be used for meals and vacations.

That said, for first-time credit card users, credit cards can be intimidating. It’s easy to hear horror stories about how credit cards have destroyed an individual’s financial livelihood or have led to massive interest charges that are essentially inescapable.

Because of this, it’s worth your time to learn some first principles and key tips so that you can safely use a credit card. By following this advice, you can get the most out of your credit card and safeguard your financial health—whether you are a first-time credit card user in the UAE or anywhere else.

Some Key Tips and Strategies on Safe Credit Card Use
Before looking at any type of credit card, it is critical to ensure that you have a steady income. While credit cards can be immensely rewarding, you can only obtain those immense rewards if you can pay off your balance.

Without a steady income, it becomes difficult to pay off that credit card balance. The longer that you don’t pay off your balance, the more that you will be paying to your credit card company. Even if you are just making minimum payments, hefty interest expenses can be extremely costly. Double-digit interest rates can quickly add up. Therefore, before signing up, make sure that you will have consistent enough income to pay off your monthly statements. By doing so, you will avoid a very ugly financial situation.

Next, you want to make sure you are signing up for the right credit card. As similar as credit cards may seem, they offer different terms and rewards. You will certainly want to review your potential interest rate and any penalties that will come from late payments. Beyond the negative aspects, however, you will want to take a close look at your unique spend and your targeted credit card’s rewards.

Rewards are some of the best parts of using a credit card. All credit cards offer points that you can then exchange for rewards, but credit cards offers different exchange rates for certain things. For instance, one credit card may offer slightly more points for restaurant and dining spending and another may offer slightly more points for booking flights. You’ll want to read the fine print and sign up for a card that gives you more points for your common expenses.

Associated with this, try to avoid free credit cards. By free credit cards, we mean credit cards that do not have annual fees. This is for several reasons. For one thing, free cards may not be best from a savings perspective. They tend to have higher interest rates, so you may end up paying more if you don’t pay off your card in full. Along with this, cards with annual fees tend to offer better rewards. These cash-back rewards can be substantial and may even eclipse the amount that you pay in your card’s annual fee. While the initial payment may be annoying or frustrating, chances are that you will get much more value through a card with a fee, rather than a free card.

From avoiding free credit cards, you’ll next want to understand the eligibility requirements for your chosen card. For as great as a credit card may be for you, you may not meet its eligibility requirements. As just one simple example, in the UAE, a minimum of AED 5,000 to qualify for a credit card. However, different types of cards cater to different income segments, so you will want to read the fine print to see if you qualify. By reading the fine print now rather than waiting to do so after you submit your application, you won’t waste time and will find the best credit card for you.

You will also want to make sure that you are collecting and providing all necessary documents to complete your credit card application. This may vary depending on the credit card and application that you submit. However, you will need to provide identification documents like an Emirates ID (in the UAE), passport, and/or visa. You may also need to offer additional documents like income certificates, bank statements, payslips, and more. If you work for a small employer or a relatively new company, the bank may need to perform an employer visit or telephone verification.

What does this mean for you? Ultimately, make sure that you have this type of information at the ready. By having it in your vicinity before you start the process, you will make your life easier.

Another key tip is to avoid getting too close to your credit limit. Every credit card user has something called a credit utilization ratio. This is essentially the percentage of outstanding credit that is available to you.

There is a fine line here. The basic rule is that you should the lower your credit utilization ratio, the better. A high credit utilization ratio can harm your credit score. However, that should not stop you from responsibility using your credit card. You should follow your best judgment here and find a credit utilization ratio that meets your needs and does not harm your credit score.

Finally, be patient. While it can be tremendously exciting getting a new credit card, you don’t necessarily want to jump at the first opportunity. Make sure that you are looking at several different types of credit cards. At the very least, you should do some Internet research on those specific cards to see if one suits you over another. Also, don’t hesitate to call the specific credit card company to find answers to any questions you may have. By being patient and completing your due diligence, you can make this experience much easier.

Getting Started on Your Credit Card Journey
Getting your first credit card can be intimidating, yet exciting. There are risks but they can be mitigated. By following the tips and advice above, you will be in an excellent position to responsibly use your new credit card.

Five Reasons to Consider Doing a Balance Transfer on Your Credit Card
The sudden rise of COVID-19 has presented varying degrees of economic stress among UAE residents. Institutions like the UAE Central Bank and some of the UAE’s biggest banks have acted swiftly to relieve some of this unexpected, yet very real financial pressure. Yet even with that assistance, this is a great time for all UAE residents to take a hard look at their current finances.

There are several ways that you can proceed, but we believe that one of the first things you should do is closely look at the balances on your credit cards. For many of us, our credit card balances are some of our highest payments per month. While we may be able to pay off our monthly credit card balances during “normal times, COVID-19 this increased time of uncertainty may make those payments much more difficult.

If you are feeling this type of financial pressure, you may want to seriously consider something called a balance transfer. Balance transfers, put simply, let you move high-interest debt onto another credit card that has a lower interest rate. By doing this, you can keep some of your hard-earned money in your pocket.

To better understand the power of balance transfers, we want to highlight five reasons why you should consider them. Whether one or all of the reasons resonate with you, we believe balance transfers can be compelling options in this era of COVID-19.

The first reason to go forward with a balance transfer centers on your current credit card interest payments. Simply put, balance transfers can temporarily eliminate a high annual percentage rate on your current credit card, allowing more of your payment to go toward your principal. If you are in deep credit card debt, this is a huge deal. A significantly lower (or even zero) interest rate means that you are getting significantly closer toward a zero balance. Therefore, even if there is a small fee to complete a balance transfer, a lower APR may be worth it.

Directly tied with lower interest payments is the ability to save cash in the long run. It’s pretty simple. Allocating more of your monthly payment to your debt outstanding rather than interest is going to keep more cash in your pocket. It is a substantial step on your way toward financial freedom. A balance transfer can offer that unique opportunity, letting you have a few key months where you can make your outstanding principal more manageable.

Balance transfers can also be a great idea because they may be able to raise your credit score. The effect isn’t direct, but there are some ways that your credit score can be improved with a balance transfer. Most notably, it can reduce your credit utilization ratio. This is assuming that you don’t close your old credit card account. Along with paying off your principal, you may see a bump in your overall credit score.

Fourth, a balance transfer can help you build good habits and instill discipline. One primary reason why borrowers seek balance transfers is to obtain some breathing room from overbearing interest payments and debt. Balance transfers can provide this, but they also provide great opportunities to get into great financial habits. For instance, paying down your balance every month and spending less than you make are terrific habits to build.

Finally, credit card balance transfers can make you happier. They can provide both short-term and long-term financial relief. By capitalizing on this relief and getting a better hold over your finances, you’ll feel happier and less stressed. This is a real benefit—especially as we are living through COVID-19.

A Compelling Option
These are just some of the benefits of credit card balance transfers. Granted, you will want to read the fine print and find a balance transfer that makes the most sense for you. Some balance transfer arrangements have a low (or zero) APR, but ramp up significantly after several months or if you miss one payment.

Even so, balance transfers can be a valuable tool in personal finance. Whether or not you choose to use this tool, we encourage you to do your research. You may find that a balance transfer is just the thing you need to get your financial freedom.

Soulwallet is a personal finance comparison portal in the UAE. With a team of “out of the box” thinkers and a deep understanding of the UAE consumer banking industry, we help customers make the best choices while shopping for financial products such as credit cards and loans.

All you need to know about Emirates Skywards Credit Cards!

Posted on March 26, 2021March 27, 2021 by admin

The Emirates Skywards miles programme is one of the best, premium airmiles programmes offered by any airline in the world. It gives members the opportunity to redeem their Emirates Skywards miles against flight ticket purchases and ticket upgrades on Emirates airlines in addition to other options such as hotels and travel bookings.

Skywards miles programme members can earn miles by purchasing tickets on Emirates airlines, however, another popular option to earn miles used by thousands of UAE residents is by using an Emirates Skywards co-branded credit card. These credit cards are issued as part of a joint arrangement between Emirates Airlines and the banks issuing the credit cards.

In the UAE there are several such co-branded airline credit cards offered by many banks. While the main objective to apply for an miles credit card is primarily to earn rewards in the form of “miles” and use those miles for flight tickets and upgrades there are other unique benefits offered by these cards which also vary significantly from one credit card to another. The focus of this article are Emirates Skywards co-branded credit cards and to help readers understand which of the many options available are best suited to them.

Banks in UAE that currently offer Emirates Skywards co-branded credit cards are –

Abu Dhabi Islamic Bank (ADIB)
Citibank
Dubai Islamic Bank
Emirates Islamic Bank
Emirate NBD
RAKBANK

Income Eligibility

The monthly minimum income requirement for Emirates Skywards credit cards are as below:

Credit Card	Min. Salary
Dubai Islamic Emirates Skywards Platinum Credit Card	AED 5,000
Citibank Emirates World	AED 12,000
Emirates Islamic Skywards Signature Credit Card	AED 12,000
ADIB Emirates Skywards World Card	AED 15,000
Dubai Islamic Emirates Skywards Signature Credit Card	AED 15,000
Emirates NBD Skywards Signature Credit Card	AED 15,000
Citibank Emirates Ultimate	AED 18,000
ADIB Emirates Skywards World Elite Card	AED 25,000
RAKBANK Emirates Skywards World Elite Mastercard Credit Card	AED 25,000
Emirates Islamic Skywards Infinite Credit Card	AED 25,000
Emirates NBD Skywards Infinite Credit Card	AED 30,000
Dubai Islamic Emirates Skywards Infinite Credit Card	AED 35,000
Citibank Emirates Ultima	AED 36,750

Which is “The Best Emirates Skywards credit card” in the UAE?

While many readers would want to scroll directly to this section to find out the ‘best’, the reality, as is often the case, is that among the many options available there is no single “Best Emirates Skywards credit card” for everyone. Different Skywards credit cards offer different benefits. In the sections below we will help you identify which one is the “the best Skywards credit card for you” based on your specific needs, spend patterns and priorities as an individual.

Please note that the best credit cards identified tend to be ‘premium’ credit cards as they understandably have the highest rewards as well as features and benefits that the bank can offer. As such, these Skywards cards are likely to have higher annual membership fees. However, the benefits offered by these credit cards most often can easily justify the annual fees charged. This is especially true if the cardholder takes advantage of the specific features and benefits on offer – another reason to ensure they apply for credit cards most suited to their specific needs. However, there are also a few Emirates Skywards credit cards which have very low annual fees while still offering good benefits which can also be considered.EARNING SKYWARDS MILES FROM EVEN REGULAR ‘EVERY DAY’ SPENDS

Best for – Maximum Miles Earning Potential

This is perhaps the most important feature to be considered for any Emirates Skywards co-branded credit card as the main purpose for a cardholder is to maximize Skywards miles earned by using their credit cards. This is also an aspect where there are significant differences in earning rates and eligibility requirements between the different Skywards credit card options available. Readers are advised to review the conditions carefully before arriving at a decision on which card is best suited to their specific spend patterns. It is important to note that the cards in this category typically do not offer high earn rates on some regular, day-to-day categories such as groceries, utilities, fuel, school fees etc. but instead offer very high earn rates on almost all other types of spends - think electronics, clothes, luxury, travel, dining and most other categories. Depending on the individual’s spend patterns these cards are potentially the best options to earn the absolute maximum Skywards miles from your credit card spends.
ADIB Emirates Skywards World Elite Credit Card	Emirates Islamic Bank Skywards Black Credit Card	Citibank Emirates Ultima credit card
The ADIB Emirates Skywards World Elite credit card is an excellent option to maximise your Skywards miles earnings as it offers 3 Skywards miles per USD spent at Emirates Airline as well as offering 2 Skywards miles/USD for foreign currency spends and 1.5 Skyward miles/USD for domestic purchases.	The Emirates Islamic Bank Skywards Black Credit Card offers 3.5 Skywards miles for every 1 USD spent at Emirates airlines. This is the highest offered by any credit card in the UAE currently.	The Citibank Ultima credit card offers an extremely attractive combination of a high miles earn rate along with very minimal spend category restrictions. This credit card offers an even better earning rate on purchases made at Emirates as compared to the DIB Skywards Infinite credit card (which is also a great option). So, if you are a big spender at Emirates then this is the card to get to maximise your Skywards rewards. Compared to the Dubai Islamic bank Skywards Infinite card, it pays a lower earnings rate on two specific categories.
Earn rates are lower for specific everyday categories such as groceries, utilities, government spends, fuel, school fees, Salik etc. but for almost every other type of spend category this is an excellent option. In addition to the high Skyward miles earn rates, this card also has other very compelling features including complimentary Emirates Airlines home check-ins, Skyward Gold tier membership and so on.	In addition to this, it also offers 2 Skyward miles per USD equivalent of foreign currency spends and 1.5 Skyward miles per USD of domestic spends. This is again the highest offered by any Skywards credit card in the UAE (along with the ADIB World Elite Skywards credit card which also offers the same). While this card has lower earn rates for some specific every day categories (grocery, fuel, utilities etc.) for all other purchases this is indeed a really powerful option to maximise your Skywards miles earnings.	Emirates Skywards miles earned per USD (equivalent) spent on the card: 2.5 Skywards miles for purchases made at Emirates online or at Emirates sales offices 1.5 Skyward miles for purchases made in foreign currencies 1 Skyward mile for all other local purchases Spends at groceries/supermarkets and related to real estate will earn 0.5 Skywards miles per USD of spend and government services and utilities spends earn no miles

Best for – Earning Skyward Miles From Even Regular “Everyday” spends

These credit cards have the most ‘coverage’ of spend categories, that is they hardly exclude any category of spends from earning miles. Hence these cards have the advantage of ensuring that you earn Skywards miles no matter whether you’re buying groceries or paying for your child’s school fees. Depending on your individual spend patterns, these cards could potentially save you the most of all the Skywards credit card options available. To see your specific individual savings on each please use the Savings Calculator on www.soulwallet.com.
Emirates Skywards Dubai Islamic Bank Infinite Credit Card	RAKBANK Emirates Skywards World Elite Credit Card	Dubai Islamic Bank Emirates Skywards Signature Credit Card
The Emirates Skywards Dubai Islamic Bank Infinite Credit Card is arguably the best credit card to maximise Emirates Skywards miles earnings as it offers an excellent combination of high earn rates on specific categories as well as no excluded spend categories. This is indeed a rarity as almost all other Emirates Skywards credit cards have restrictions on some segments of spend (such as groceries, utilities and so on) which have a lower earning rate.	The RAKBANK Emirates Skywards World Elite credit card is also a great option to earn rewards on regular everyday spends. This card has a different way of awarding points – a fixed number of points are awarded for specific spend ranges. As the number of Skywards miles are fixed for a specific spend range the actual earn rate can vary depending on how much you have specifically spent within that range. But rest assured, it is very competitive with other options available and again with the key benefit of not excluding several regular day to day spend categories (groceries, fuel, telecom, utilities etc.). This card does, however, have a maximum cap of 40,000 Skyward miles per month.	The Emirates Skywards Dubai Islamic Bank Signature Credit Card is a great option just like it’s bigger “brother” the DIB Skywards Infinite credit card. While it offers a slightly lower earn rate it also has a lower annual fee (AED 1,500 vs. AED 2,500) and also has the added benefit of having a lower minimum salary requirement (AED 15,000 vs. AED 35,000 for the Infinite). It also offers an excellent combination of high earn rates on specific categories as well as no excluded spend categories.
The Emirates Skywards Dubai Islamic Bank Infinite Credit Card awards miles per USD (equivalent) spent on the credit card as below: 2 Skywards miles for purchases made at Emirates online or at Emirates sales offices 1.5 Skyward miles for purchases made in foreign currencies 1 Skyward mile for all other local purchases A cap of AED 25,000 on government spends per statement (which we believe is quite generous!)	Spend based Tiers: - 600 miles for 2000-4999 - 2000 miles for 5000-9,999 - 5000 miles for 10,000-19999 - 8000 miles for 20000-29999 - 11000 miles for 30000-39999 - 16000 miles for 40000-49999 - 20000 miles for 50000-74999 - 30000 miles for 75000-99999 - 40000 miles for > 100,000	The Emirates Skywards Dubai Islamic Bank Infinite Credit Card awards miles per USD (equivalent) spent on the credit card as below: 1.5 Skywards miles for purchases made at Emirates online or at Emirates sales offices 1 Skyward miles for purchases made in foreign currencies 0.75 Skyward mile for all other local purchases A cap of AED 25,000 on government spends per statement (which we believe is quite generous!)

Best for – “Bonus” Skywards Miles:

Several credit cards award “bonus” Emirates Skywards miles based on specific criteria, such as a minimum spend levels achieved on the credit card within a specific time period. In this category, there can be varying opinions on which is the “best” option as some cards award higher total maximum bonus miles but at the same time require higher spend levels and over shorter time periods as well. The “best” option here would be determined by the individual’s specific spend patterns.
ADIB Emirates Skywards World Elite Credit Card & ADIB Emirates Skywards World Credit Card	Emirates NBD Skywards Infinite Credit Card	Emirates Skywards Dubai Islamic Bank Infinite Credit Card
ADIB Emirates Skywards World Elite Credit Card & ADIB Emirates Skywards World Credit Cardholders can get up to 120,000 bonus Emirates Skywards miles with this card. 50,000 welcome bonus Emirates Skywards miles are awarded plus an additional 70,000 bonus miles if a minimum retail spend of AED 140,000 is achieved within 6 months of card issuance.	The Emirates NBD Skywards Infinite credit card offers cardholders the opportunity to earn up to 100,000 bonus Emirates Skywards miles:	Emirates Skywards Dubai Islamic Bank Infinite Credit Card offers cardholders the opportunity to earn up to 75,000 Emirates Skywards Miles
This credit card has a good combination of the total bonus miles awarded and the overall minimum spend requirement over a period of 6 months. In addition, there are no specific spend category restrictions.	35,000 “Welcome Joining Miles” on payment of the joining fee 40,000 additional “spend based miles” if cumulative retail spend of USD 20,000 is achieved within 3 months "Annual miles”: 25,000 miles will be credited if USD 7,500 is spent at Emirates (online or at sales offices) within the first 12 months	25,000 miles on card activation 25,000 miles if spend of USD 20,000 is achieved in the first 4 statements 25,000 on balance transfer (minimum balance transfer of AED 50,000)

Best for – Joining offers:

While it is usually not advisable to apply for a credit only to take advantage of a specific joining offer by the bank, it is worthwhile considering the joining offers in addition to all other benefits and features offered by these credit cards.

Citibank Emirates Ultima credit card
Citibank Emirates Ultimate credit card

Citibank Emirates World credit card

Customers who apply online can get AED 2,000 back as a statement credit if a minimum retail spend of AED 25,000 is made within 90 days of the credit card being approved. Pls do verify on Citibank website before proceeding as this offer might change.

Customers can avail AED 1000 worth gift cards on booking. This offer is exclusive to customers who apply on Soulwallet.com
Customers that apply online on Citibank UAE can get AED 800 as a statement credit if a minimum retail spend of AED 20,000 is made within 90 days of the credit card being approved.Pls do verify on Citibank website before proceeding as this offer might change.

Customers can avail AED 1000 worth gift cards on booking. This offer is exclusive to customers who apply on Soulwallet.com
Customers that apply online on Customers that apply online on Citibank UAE can get AED 400 as a statement credit if a minimum retail spend of AED 10,000 is made within 90 days of the credit card being approved.Pls do verify on Citibank website before proceeding as this offer might change.

Customers can avail AED 500 worth gift cards on booking. This offer is exclusive to customers who apply on Soulwallet.com

While it is usually not advisable to apply for a credit only to take advantage of a specific joining offer by the bank, it is worthwhile considering the joining offers in addition to all other benefits and features offered by these credit cards.
Citibank Emirates Ultima credit card	Citibank Emirates Ultimate credit card	Citibank Emirates World credit card
Customers who apply online can get AED 2,000 back as a statement credit if a minimum retail spend of AED 25,000 is made within 90 days of the credit card being approved. Pls do verify on Citibank website before proceeding as this offer might change. Customers can avail AED 1000 worth gift cards on booking. This offer is exclusive to customers who apply on Soulwallet.com	Customers that apply online on Citibank UAE can get AED 800 as a statement credit if a minimum retail spend of AED 20,000 is made within 90 days of the credit card being approved.Pls do verify on Citibank website before proceeding as this offer might change. Customers can avail AED 1000 worth gift cards on booking. This offer is exclusive to customers who apply on Soulwallet.com	Customers that apply online on Customers that apply online on Citibank UAE can get AED 400 as a statement credit if a minimum retail spend of AED 10,000 is made within 90 days of the credit card being approved.Pls do verify on Citibank website before proceeding as this offer might change. Customers can avail AED 500 worth gift cards on booking. This offer is exclusive to customers who apply on Soulwallet.com

Best for –Emirates Skywards Tier Membership

As most readers are probably aware the Emirates Skywards Miles programme offers different “Tiers” of membership – Blue, Silver, Gold and Platinum. Each of these tiers offer different benefits to members, with the type and number of benefits increasing in that order – starting with Blue and ending with Platinum which offers the maximum benefits.

An important feature offered by some Emirates Skywards co-branded credit cards is automatic membership for the cardholder into a higher tier of the Emirates Skywards programme simply by virtue of having the credit card. This saves cardholders from having to meet the minimum “tier” miles required to be eligible for the specific tier level, obtained normally through purchase of tickets on Emirates airlines.

In this aspect as well, there are a few differences in the options available among the various Emirates Skywards credit cards. Many cards offer direct membership to the Silver Tier for the primary cardholder. A few credit cards also provide supplementary card holders the opportunity to enjoy Silver status, subject to a few conditions being met. However, only 3 credit cards offer cardholders the option to upgrade to the Gold Tier Skywards membership. This can be considered to be a significant perk of having the card by people who value the Gold membership tier in the Emirates Skywards program (which offers, among other benefits, 16kgs of excess baggage allowance, guaranteed seats even on fully booked flights and so on).

ADIB Emirates Skywards World Elite Credit Card & ADIB Emirates Skywards World Credit Card

RAKBANK Emirates Skywards World Elite Mastercard Credit Card
Emirates Islamic Bank Skywards Black Credit Card

This card offers cardholders Skywards Silver Tier membership as a basic feature of the card. However, in addition it also offers cardholders the option to upgrade their Silver Skywards membership tier to the Gold tier if they spend AED 5,500 at Emirates Airlines within 12 months of getting the card.

What’s more this card also offers the supplementary cardholder with the opportunity to upgrade to Gold tier status if a total spend of AED 200,000 is achieved in 12 months and 5,500 of that is spent at Emirates Airlines.

The RAKBANK Emirates Skywards World Elite Mastercard offers cardholders Silver tier membership as a default offering. Additionally, it also offers the opportunity to fast-track to Skywards Gold tier membership based on the below criteria being met:

Placing a deposit of AED 500,000 in the customer’s RAKBANK Emirates Skywards savings account. This credit card also offers supplementary cardholders the option to enroll in the Skywards Silver Tier membership at a fee of AED 900 per year.
This card offers customers Silver membership as a default tier for maintain the card. However, similar to the ADIB Emirates Skywards World Elite credit card the Emirates Islamic Bank Skywards Black credit card offers customers the opportunity to upgrade to the Skywards Gold tier status by simply spending AED 5,500 at Emirates on their credit card (no additional spend criteria required).

This card also provides the option for the supplementary to be upgraded to the Skywards Gold tier membership by spending AED 5,500 at Emirates and by paying an annual membership fee of AED 4,000.

As most readers are probably aware the Emirates Skywards Miles programme offers different “Tiers” of membership – Blue, Silver, Gold and Platinum. Each of these tiers offer different benefits to members, with the type and number of benefits increasing in that order – starting with Blue and ending with Platinum which offers the maximum benefits. An important feature offered by some Emirates Skywards co-branded credit cards is automatic membership for the cardholder into a higher tier of the Emirates Skywards programme simply by virtue of having the credit card. This saves cardholders from having to meet the minimum “tier” miles required to be eligible for the specific tier level, obtained normally through purchase of tickets on Emirates airlines. In this aspect as well, there are a few differences in the options available among the various Emirates Skywards credit cards. Many cards offer direct membership to the Silver Tier for the primary cardholder. A few credit cards also provide supplementary card holders the opportunity to enjoy Silver status, subject to a few conditions being met. However, only 3 credit cards offer cardholders the option to upgrade to the Gold Tier Skywards membership. This can be considered to be a significant perk of having the card by people who value the Gold membership tier in the Emirates Skywards program (which offers, among other benefits, 16kgs of excess baggage allowance, guaranteed seats even on fully booked flights and so on).
ADIB Emirates Skywards World Elite Credit Card & ADIB Emirates Skywards World Credit Card	RAKBANK Emirates Skywards World Elite Mastercard Credit Card	Emirates Islamic Bank Skywards Black Credit Card
This card offers cardholders Skywards Silver Tier membership as a basic feature of the card. However, in addition it also offers cardholders the option to upgrade their Silver Skywards membership tier to the Gold tier if they spend AED 5,500 at Emirates Airlines within 12 months of getting the card. What’s more this card also offers the supplementary cardholder with the opportunity to upgrade to Gold tier status if a total spend of AED 200,000 is achieved in 12 months and 5,500 of that is spent at Emirates Airlines.	The RAKBANK Emirates Skywards World Elite Mastercard offers cardholders Silver tier membership as a default offering. Additionally, it also offers the opportunity to fast-track to Skywards Gold tier membership based on the below criteria being met: Placing a deposit of AED 500,000 in the customer’s RAKBANK Emirates Skywards savings account. This credit card also offers supplementary cardholders the option to enroll in the Skywards Silver Tier membership at a fee of AED 900 per year.	This card offers customers Silver membership as a default tier for maintain the card. However, similar to the ADIB Emirates Skywards World Elite credit card the Emirates Islamic Bank Skywards Black credit card offers customers the opportunity to upgrade to the Skywards Gold tier status by simply spending AED 5,500 at Emirates on their credit card (no additional spend criteria required). This card also provides the option for the supplementary to be upgraded to the Skywards Gold tier membership by spending AED 5,500 at Emirates and by paying an annual membership fee of AED 4,000.

Best for – Association Benefits

Credit card associations refer to organizations that set common transaction terms for merchants, issuing banks and acquiring banks. The associations we are referring to in our context here are Visa and Mastercard. All the Emirates Skywards credit cards issued in the UAE are either associated with Visa or Mastercard. The relevance of this for a cardholder is that there are specific benefits and features offered by these associations to the cardholder by virtue of the partnership between the bank and the association. Similar to the different tier levels available in the Emirates Skywards miles programme, both Visa and Mastercard offer different “tiers” or levels of benefits for different credit card types. Please note that these association features are offered in partnership with the banks and are for the most part a standard offering for the specific credit card type across all banks. Examples of these include VIP airport lounge access, travel insurance cover, car rental offers and so on. Please note that the type of benefits offered vary significantly between Visa and Mastercard. These (Visa/Mastercard) features must not be confused with specific features offered by banks directly to their cardholders which are not part of the Visa or Mastercard benefits. Examples of such bank-specific features include complimentary valet parking, cinema tickets, airport transfer offers and so on. Customers are advised to review closely all the features offered for each credit card to understand all the benefits available before arriving at the best credit suited to them. Below is a categorization of the available Emirates Skywards options based on their Visa or Mastercard credit card association type:
Mastercard 1. Mastercard World Elite: This is the top-of-the-line tier of credit card benefits offered by Mastercard and are available in the following credit cards: ADIB Emirates Skywards World Elite credit card Citibank Emirates Ultimate credit card RAKBANK Emirates Skywards World Elite Mastercard credit card 2. Mastercard World: This is the second highest tier of credit card benefits offered by Mastercard and are available in the following credit cards: ADIB Emirates Skywards World credit card Citibank Emirates World credit card	Visa 1. Visa Infinite: This is the top-of-the-line tier of credit card benefits offered by Visa and are available in the following credit cards: Citibank Emirates Ultima credit card Dubai Islamic Emirates Skywards Infinite credit card Emirates Islamic Bank Emirates Skyward Black credit card Emirates Islamic Skywards Infinite credit card Emirates NBD Skywards Infinite credit card 2. Visa Signature: This is the second highest tier of credit card benefits offered by Visa and are available in the following credit cards: Dubai Islamic Emirates Skywards Signature credit card Emirates Islamic Skywards Signature credit card Emirates NBD Skywards Signature credit card 3. Visa Platinum: This is the third highest tier of credit card benefits offered by Visa and are available in the following credit cards: Dubai Islamic Emirates Platinum credit card

Credit card associations refer to organizations that set common transaction terms for merchants, issuing banks and acquiring banks. The associations we are referring to in our context here are Visa and Mastercard. All the Emirates Skywards credit cards issued in the UAE are either associated with Visa or Mastercard.

The relevance of this for a cardholder is that there are specific benefits and features offered by these associations to the cardholder by virtue of the partnership between the bank and the association. Similar to the different tier levels available in the Emirates Skywards miles programme, both Visa and Mastercard offer different “tiers” or levels of benefits for different credit card types.

Please note that these association features are offered in partnership with the banks and are for the most part a standard offering for the specific credit card type across all banks. Examples of these include VIP airport lounge access, travel insurance cover, car rental offers and so on. Please note that the type of benefits offered vary significantly between Visa and Mastercard.

These (Visa/Mastercard) features must not be confused with specific features offered by banks directly to their cardholders which are not part of the Visa or Mastercard benefits. Examples of such bank-specific features include complimentary valet parking, cinema tickets, airport transfer offers and so on.

Customers are advised to review closely all the features offered for each credit card to understand all the benefits available before arriving at the best credit suited to them.

Below is a categorization of the available Emirates Skywards options based on their Visa or Mastercard credit card association type:

Mastercard

1. Mastercard World Elite:
This is the top-of-the-line tier of credit card benefits offered by Mastercard and are available in the following credit cards:

ADIB Emirates Skywards World Elite credit card
Citibank Emirates Ultimate credit card
RAKBANK Emirates Skywards World Elite Mastercard credit card

2. Mastercard World:

This is the second highest tier of credit card benefits offered by Mastercard and are available in the following credit cards:

ADIB Emirates Skywards World credit card
Citibank Emirates World credit card

Visa

1. Visa Infinite:
This is the top-of-the-line tier of credit card benefits offered by Visa and are available in the following credit cards:
Citibank Emirates Ultima credit card

Dubai Islamic Emirates Skywards Infinite credit card
Emirates Islamic Bank Emirates Skyward Black credit card
Emirates Islamic Skywards Infinite credit card
Emirates NBD Skywards Infinite credit card

2. Visa Signature:

This is the second highest tier of credit card benefits offered by Visa and are available in the following credit cards:

Dubai Islamic Emirates Skywards Signature credit card
Emirates Islamic Skywards Signature credit card
Emirates NBD Skywards Signature credit card

3. Visa Platinum:

This is the third highest tier of credit card benefits offered by Visa and are available in the following credit cards:
Dubai Islamic Emirates Platinum credit card

All relevant features of this credit card, along with side-by-side comparisons can be seen at: www.soulwallet.com

Best for – Low-Fee, High Value Offered

Citi Emirates Ultimate Credit Card

While most of the above credit cards are premium credit cards and have reasonably high annual fees, the Citi Emirates Ultimate credit card offers excellent benefits for a very reasonable annual fee of only AED 800. Not only is this among the lowest fees on an Emirates Skywards credit card, this card also offers customers to earn the annual fee back as a statement credit if retail spend of AED 20,000 is made within 90 days of getting the card.

This card also has a very healthy Skyward miles earning rate of 1.25 Skyward miles per USD for all international spends and 1 Skyward mile per USD of domestic spends. Other benefits include free VIP airport lounge access for the cardholder plus a guest at over 1,000 lounges worldwide and golf and movie offers in the UAE.

Unique benefits offered by some Emirates Skywards credit cards:

Complimentary Emirates Airlines home check-in 4 times a year – ADIB Emirates Skywards World Elite Credit Card.
Complimentary access to Emirates Towers Health Club at any time, any day – Dubai Islamic Skywards Infinite Credit Card.
15% discount on buying Emirates Skywards Miles – RAKBANK Emirates Skywards World Elite Credit Card.

The below Emirates Skywards credit cards all offer the primary cardholder complimentary Skywards Silver Tier membership as a benefit:

Citibank Emirates Ultima credit card
Dubai Islamic Emirates Skywards Infinite credit card
Emirates Islamic Skywards Infinite credit card
Emirates NBD Skywards Infinite credit card
ADIB Emirates Skywards World credit card

All relevant features of this credit card, along with side-by-side comparisons can be seen at: www.soulwallet.com

We hope this article has been useful in giving you a better understanding of the various Emirates Skywards miles credit card options available in the UAE. While we have highlighted the best options for specific benefits offered by these credit cards we highly recommend that you review all the features in detail before deciding which is the best credit card for you. After all, the process of identifying the best option and applying for a credit card is not something undertaken on a regular basis and therefore getting it right will not only help one maximise potential saves but will also help enjoy specific benefits most relevant to your individual preferences.

Detailed features and benefits along with side-by-side comparisons of all these credit cards can be found at www.soulwallet.com.