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.
