RAKBANK offers a range of international credit cards that form a large chunk of its product portfolio. With 8 types of cards with varying rewards, promotions and benefits, the bank has a card for every type of customer and income group. Providing excellent short-term credit facilities and world-class banking facilities, using RAKBANK credit cards can be among the most rewarding experiences in respect to managing your finances. There are cards specifically catering to shoppers, jewellery aficionados, travellers and the average user. Credit shields, free insurance and long interest free periods qualify these cards to be among the best on offer in the UAE.
Credit Cards offered by RAKBANK
The bank has many credit cards on offer, which are:
- RAKBANK World MasterCard Credit Card: This card offers an extensive range of rewards, exclusive privileges and benefits in addition to world-class short-term credit facilities. Earning cashback on purchases has never been easier, with up to 10% cashback on travel, and whenever you shop at supermarkets, and up to 50% on spends at cinemas. Accepted internationally at all MasterCard activated machines, this card adds value to your financial portfolio.
- RAKBANK Kalyan Jewellers Card: Add value to your jewellery shopping by using the first card with Goldback on all spends. You can earn up to 7% Goldback on purchases at Kalyan Jewellers in India, and up to 4.5% in the UAE. You can even earn Goldback on regular retail purchases – 5% on international purchases and 3% on local purchases. You can redeem this at any Kalyan Jewellers outlet in the UAE.
- RAKBANK Titanium Credit Card: This card is for those who wish to supplement their medium-to-high range income with short-term credit extension facilities. There are times when we all wish to spend beyond our means and this card enables the high earners to do just that. The card gives you a good rate of cashback on local and international spends and offers up to 55 interest-free days in which to clear your outstanding balance.
- RAKBANK Titanium Business Credit Card: This card has been made specifically for the successful businessman, to enable him to acquire assets beyond his current financial reach and expand his business. This card is free for life and has the lowest interest rate in its class. With up to 90% cash withdrawal limit, business operations can be smoothened out without having to worry.
- RAKBANK nmc MasterCard Credit Card: This card has been developed in association with the nmc Group – a world leader in healthcare service. The main benefits and features of this card are that it has been designed for you to look after your health – offering discounts at nmc hospitals, pharmacies, opticians, etc. with absolutely no annual fees, ever. You also get discounts on X-rays, ultrasounds, MRI scans, etc. making worrying about hospital bills a thing of the past.
- RAKBANK Géant La Carte Credit Card: This card offers excellent discounts and exclusive benefits at Géant Hypermarkets. The La Carte rewards program earns points on every spend, and the card is never charged any amount by way of annual fees. A low interest rate and long interest free period of 55 days ensures that there’s minimal financial strain while paying back the amount due.
- RAKBANK Visa Credit Card: Designed specifically for the traveller, this range of cards is accepted at over 24 million retailers in over 150 countries, worldwide. The choice, convenience and control over your finances are all yours – more power to you. Attractive cashback offers, zero annual fees and exclusive benefits and discounts mean that you have the time to travel, enjoy what you spend on, and pay it back without worrying about being overcharged.
- RAKBANK MasterCard Credit Card: An all-rounder of a credit facility, this card gives you the power of short-term credit with unmatched benefits, discounts and privileges around the world
- RAKBANK Value Credit Card: The card for those to whom savings matter more than spending beyond their means. Cardholders get travel insurance, motor vehicle insurance, life insurance, secure wallet cover every month in addition to roadside assistance and other benefits that enable savings. This card is available in two variants – Executive and Premium.
Founded in 1976 and completely revamped in 2001, the National Bank of Ras Al-Khaimah is a leading provider of financial products and services in the UAE. Its management and board of directors consists largely of members of the ruling family of the Emirate of Ras Al-Khaimah, and businessmen from across the UAE and Kuwait.
RAKBANK is headquartered in Ras Al-Khaimah and is a proud member of the UAE Banking Federation (UBF) and abides by its Customer Charter, which promotes trust and world-class practices across the financial services industry. The bank looks after its customers, and has provided them with clear guidelines relating to the standard of service that can be expected from RAKBANK.
Why choose RAKBANK credit cards?
RAKBANK has a wide array of options to choose from – with a card to suit every income group and special cards with offers specific to those who love travel and shopping, there are specific cards for business development and even just regular short-term credit extension facilities. The bank offers cards from both giants – Visa and MasterCard from the same bank and customers can choose between which they feel will supplement their lifestyle best. The bank also has the first line of Goldback cards ever introduced that can be redeemed at Kalyan Jewellers in the UAE.
Latest offers and promotions on RAKBANK credit cards
The credit cards from this bank have among the best exclusive privileges and discounts from major brands and entertainment venues across the world. A few of the current offers are:
- Discounts and special holiday offers from musafir.com on flights to over 3,000 destinations and hotel stays in over 85,000 properties around the world.
- 20% off at over across 50 Jumeirah restaurants.
- Huge discounts and savings at The Cove Rotana Resort – Ras Al-Khaimah.
- A 6 destination Mediterranean cruise at a discounted rate.
- Discounts on travel and stay bookings from agoda.com.
- Priceless Arabia benefits from MasterCard, with discounts and offers on dining, entertainment, travel and hotels, sports, attractions and shopping in the UAE and all over the world.
|Check For Latest Rakbank Credit Cards Offers|
Features and benefits of RAKBANK credit cards
- 0% Easy Payment Plan for all purchases with 3, 6, 9 and 12 month options. 0% interest means that you can pay off your large purchases at the cost price, over time.
- Balance transfer facility allows you to transfer your outstanding balance from other cards to your RAKBANK account and make use of the low rate of interest while paying it off.
- MasterPass technology enables a more secure and efficient method of online shopping.
- RAKBANK credit cards use 3D Secure technology to add another level of authentication to your transactions making them that much safer.
- Get SMS Alerts every time your card is used for:
- Retail spends.
- Online payments.
- Cash withdrawals.
- Internet and mobile banking.
- Balance transfers.
- Credit card cheques.
- Enjoy more security and peace of mind with the new Chip and PIN technology being used by RAKBANK on all its credit card products.
- Easy bill payment at over 260 payment locations at all outlets of the UAE Exchange, Al Ansari Exchange, Redha Al Ansari Exchange, Al Fardan Exchange, Sharaf Exchange, Lulu Exchange and all RAKBANK ATMs and EDMs.
- Credit Card Cheques have been introduced to make using the account a lot easier. All payments from rent to utility bills and insurance premiums can be paid using these cheques.
- All RAKBANK MasterCard holders are eligible to win AED 1,000,000 (one million) every year just by using their card.
- RAKBANK credit cards get you a 20% discount on your insurance policy.
- Free supplementary cards – to manage the finances and expenses of your dependants and family members. A child studying overseas or an urgent expenditure while you’re away from home can be taken care of by giving your loved ones supplementary credit cards that are linked to your own.
- Travel insurance.
- Extended warranties and purchase protection.
Other products and services offered by RAKBANK
- In addition to credit cards, RAKBANK also has these financial products and services a part of its extensive portfolio:
- Current Accounts.
- Savings Accounts.
- RAKBANK Home Loan.
- RAKBANK Personal Loan
- RAKBANK Car Loan
- Islamic banking services.
- Wealth management services.
- Business banking services.
- Bill payment and money transfer services.
- Motor, travel and life insurance products.
- Savings, hospitalization and home insurance products.
- Takaful products.
FAQs relating to RAKBANK credit card
- How often does the AED 1,000,000 (one million) prize come up for grabs? Once a year.
- How do I apply for a credit card with RAKBANK? Simply log on to their website at www.rakbankdirect.ae and fill out an application form.
- How do the cash withdrawal limit and credit limits compare to the standards in the market? RAKBANK offers among the highest credit limits and cash withdrawal limits can go up to 80% of your credit limit – depending on the card you choose.
- Does the 0% Easy Payment Plan also cover jewellery? Yes, you can purchase gold and diamond jewellery with the 0% Easy Payment Plan. 3 or 6 month options are available for gold and 6 or 12 month options can be chosen for diamond jewellery purchases.
- Will I be charged a service fee for payments through exchange houses? Yes, a service fee of AED3 will be charged for payments through an exchange house.
- How does the Chip and PIN technology keep my transactions and account secure? When making any transaction, even at ATMs, you will need to enter your 4-digit PIN, meaning that no matter where your card is, no one can make unauthorized transactions as only you know your PIN.
News About RAKBANK Credit Card
Get 25% discount on Iftar and suhoor with Rakbank Credit Cards
Rakbank in the UAE has come up with some attractive deals on meals during the month of Ramadan. Now, Rakbank Credit Cardholders can avail 25% discount on iftar and suhoor at select restaurants in the UAE for this entire period of Ramadan. They can avail up to 15% discount at Seabreeze Restaurant located Al Hamra Residence & Village on iftar foods, and 20% discount on iftar foods at Azur Restaurant. The offer will be valid till 7th July, 2016. In order to avail this offer, Rakbank customers need to inform the concerned restaurants that they are Rakbank Credit Cardholders.
29th June 2016
RAKBANK Upgrades digital banking solutions for Sales Agents
RAKBANK created the Tablet App to implement the reduction of processing time for applications for credit cards. The app aids RAKBANK agents to pre-fill quite a substantial amount of the application form that is digitised. All the agent has to do is insert the consumer’s Emirates ID card inside the tablet attached reader. The camera is used for collection of documents required. Hence, the document can be uploaded instantly. The documents attached to the digital form and the form itself are electronically shared among the various necessary departments of RAKBANK for issuing the credit card. Customer is sent a text, once the application is submitted, along with an email containing a reference number for the tracking of the application.
This aims to aid sales agents to also make it more convenient for their customers as well. Some of the other features include product information, product calculators, and performance tracking dashboards making it a fully functional app to help sales agents be more efficient.
28th May 2016
AED250 million net profit announced by RAKBANK for the first quarter
RAKBANK group announced a net profit of AED250 million for the first quarter that ended on 31st March, 2016. The total income for the quarter has grown by 6.2%. The net interest income from Islamic products were up by 1.5%. Non-interest income grew by 23.6%. The operating expenses came down by 9.4%. Bank’s cost-to-cost ratio declined to 34.5%. Operating profit increased by 16.8%. The first quarter also saw an escalation in RAKBANK’s diversification strategy. RAKBANK is one of UAE’s oldest and dynamic financial institution. It was founded in 1976 and it had a major transformation in the year 2001. RAKBANK is a public joint stock company which is headquartered in Emirate of Ras Al Khaimah. It is listed on the Abu Dhabi Securities Exchange.
25th April 2016
RAKBANK Credit Card Holders in the UAE Can Make The Most of Awesome Flight Deals
Credit card holders in the UAE can now take advantage of some truly fantastic airline deals and save almost 12% on business class tickets and 10% on economy tickets. All you have to do is enter RAKPROMO when booking your tickets and get 12% off on Qatar Airways departing from Al Maktoum, Abu Dhabi, Ras Al Khaimah, Dubai and Sharjah. This promotion ends on the 31st of March, 2016.
23rd February 2016
RAKBANK Net Profits Fall 3.5% in 2015
RAKBANK has announced that its net profits declined by 3.5 percent to Dh 14 billion in 2015. The fall was attributed to the higher provisions of Dh 1.1. billion, up 77 percent, made for loan impairments after several small and medium enterprises (SMEs) defaulted on their loans.
The bank followed other lenders in moving away from the SME sector and towards large businesses due to non-performing assets and loan defaults.
RAKBANK’s non-performing loan ratio rose to 3.2 percent in 2015, up 28 percent from the year before. The bank’s chief executive Peter England said, “The bank has faced stronger than expected headwinds in our retail and small business finance portfolios due to the challenging global and regional environment, which is beginning to have an effect on some segments in the UAE.”
RAKBANK began cutting jobs last year under its restructuring drive.
08th February 2016
Contactless Payment Card Released by RAKBank
RAKBank recently released the RED MasterCard Credit Card, its first contactless payment card. Having tied up with Tap & GoTM contactless payment solution, customers who avail the credit card can now make payments by merely tapping the card at enabled POS terminals and the transaction will be processed in a matter of seconds, which means that you will no longer have to go through the tedium of waiting in queues or spend too much time to make a payment. The card has been globally accepted and customers can avail it without any annual fees and also make the most of distinctive discount rates that are up to 2% on both domestic as well as international transactions.
11th January 2016
Kalyan Jewellers Set to Open 5 Showrooms in UE in the Next Financial Year
UAE has witnessed a shift in demand for gold in the retail standpoint with more and more people opting for branded jewellery. The chairman and managing director of Kalyan Jewellers, T.S. Kalyanaraman, says that people now no longer shop for gold only while returning or visiting their home countries. The demand for branded jewellery has increased and people now want to shop at established outlets and enjoy the experience and ambience.
He also said that this sentiment is reflected in the growth rate of the brand whose network is clocking a growth of 40% and are set to open 6 new showrooms in Qatar.
Even though there is a shift in demand, customers are still adopting a wait and watch approach, the company is adopting several new methods to increase its customer base. The company was the first to introduce affordable diamond jewellery and has a robust loyalty programme and innovative partnership schemes such as the Kalyan Goldback Credit Card which was in association with Rakbank and was the first of it’s kind. Such innovations have helped them enhance their localised merchandise.
08th January 2016
RAKBANK’s “Dream it. Live it.” program undergoes enhancement
RAKBANK MasterCard Credit Card holders have something exciting to look forward to every time they use their card. Under the “Dream it. Live it.” rewards program, eligible cardholders stand a chance to win prizes ranging from cars to free fuel and grocery for a year. A few lucky individuals can also get a chance to live in a rent-free home for a year or get their child’s fee reimbursed.
Cardholders are automatically enrolled into a lucky draw every time they use their AMAL and RAKBANK Credit Cards to make purchases of AED 200. A total of 12 prizes are up for grabs, with 21 lucky winners announced in a draw. Draws will be held once in two months, giving cardholders ample time to use their cards to stand more chances of winning.
09th December 2015
RAKBANK awarded ‘Best Segment Solution’ in MEA region for credit card!
RAKBANK, one of the leading banks in UAE was awarded the ‘Best Segment Solution’ for RAKBANK World MasterCard at the Mastercard Innovation Forum 2015, held in Kuala Lumpur. The mastercard credit card comes with a wide range of benefits such as 10% reward on domestic and international spend, easy payment plans and 0% limited balance transfer. RAKBANK has consistently delivered unique and highly effective consumer products over the years.
13th November 2015
RAKBANK launches RAKelite Premium Banking
RAKelite is RAKBANK’s latest offering that brings the bank’s wealth management premium solutions on the same platform. The recently introduced RAKelite Premium Banking offers new and existing high net worth customers enhanced lifestyle benefits and other privileges. The perks include a dedicated relationship manager, exclusive online and mobile banking services, private RAKelite teller counters across most RAKBANK branches, an exclusive RAKelite service centre in Burjuman Business Centre, preferential exchange rates on US Dollar, Euro and GBP currencies.
RAKBANK’s elite customers can also enjoy multiple lifestyle privileges that include fast-tracking process of their banking requests within two hours of receipt and a dedicated toll-free number. They are also eligible for Premium RAKBANK World MasterCard® Credit Card and Debit Card. Using either of these cards, the customer can enjoy two complimentary valet services to select locations, per month. Apart from these, the customer can access 150 golf courses worldwide, 12 complimentary golf-coaching sessions per year.
04th November 2015