The FAB Rewards Elite Credit Card, issued by First Abu Dhabi Bank (FAB), is designed to offer high-income earners a plethora of benefits, ranging from lucrative rewards to comprehensive travel and lifestyle perks. This review delves into the card’s features, benefits, fees, and additional advantages to help potential cardholders understand its value proposition.
Key Features and Benefits
1. Rewards Program: The FAB Rewards Elite Credit Card boasts a robust rewards system:
- High Rewards Rates: Cardholders earn up to 5 FAB Rewards points per AED 1 spent on all purchases. This high earning rate ensures that even everyday expenses contribute significantly to the rewards balance.
- Flexible Redemption: Points can be redeemed for a variety of rewards, including flight bookings, hotel stays, gift vouchers, and even bill payments. This flexibility allows cardholders to use their points in ways that best suit their lifestyle.
2. Travel Benefits: Travel perks are a significant aspect of the FAB Rewards Elite Credit Card:
- Airport Lounge Access: Cardholders enjoy complimentary access to over 1,000 airport lounges worldwide, providing a comfortable and luxurious travel experience.
- Travel Insurance: The card offers comprehensive travel insurance, covering medical emergencies, trip cancellations, and lost luggage, ensuring peace of mind while traveling.
- Airport Transfers: Complimentary airport transfer services are available, adding convenience and comfort to the travel experience.
3. Lifestyle Perks: The card offers numerous lifestyle benefits designed to enhance everyday living:
- Dining Discounts: Exclusive discounts at a wide range of high-end restaurants, making dining out more affordable.
- Shopping Benefits: Access to special promotions and discounts at luxury retail stores.
- Concierge Services: 24/7 concierge services to assist with various needs, including travel bookings, dining reservations, and event tickets.
4. Additional Benefits: Additional protections and services add significant value to the card:
- Extended Warranties: Double the repair period offered by the original manufacturer’s warranty for up to one year, extending the life and value of purchased items.
- Purchase Protection: Coverage against theft or damage on eligible purchases, offering peace of mind when shopping.
- Global Assistance: Emergency assistance services available worldwide, providing support in critical situations.
Fees and Rates
- Interest Rate: The card comes with a competitive interest rate of 2.75% per month, which is favorable for a premium card in this category.
- Minimum Salary Requirement: The card has a minimum salary requirement of AED 30,000 per month, targeting high-income earners.
- Annual Fee: The FAB Rewards Elite Credit Card has an annual fee of AED 2,500, justified by the extensive range of benefits and rewards offered.
Pros and Cons
Pros:
- Generous Rewards Program: High rewards rates on all purchases and flexible redemption options make this card attractive for frequent spenders.
- Comprehensive Travel Benefits: Including airport lounge access, travel insurance, and airport transfers, enhancing the travel experience.
- Exclusive Lifestyle Perks: Discounts on dining, shopping, and 24/7 concierge services add significant value to everyday spending.
- Additional Protections: Purchase protection and extended warranties offer extra security on purchases.
Cons:
- High Annual Fee: AED 2,500 may be a deterrent for some potential users, despite the extensive benefits.
- Interest Rate: 2.75% per month is relatively high, which could be a disadvantage for those carrying a balance.
- High Minimum Salary Requirement: AED 30,000 makes it less accessible to lower-income earners.
Point-by-Point Comparison: FAB Rewards Elite Credit Card vs. Emirates NBD Skywards Infinite Credit Card, ADCB Infinite Credit Card, and HSBC Premier World Elite Mastercard
1. Rewards Program
- FAB Rewards Elite Credit Card: The FAB Rewards Elite Credit Card offers a high rewards rate of up to 5 FAB Rewards points per AED 1 spent on all purchases. Points can be flexibly redeemed for various rewards, including flight bookings, hotel stays, gift vouchers, and bill payments. This structure ensures that everyday expenses contribute significantly to the rewards balance.
- Emirates NBD Skywards Infinite Credit Card: The Emirates NBD Skywards Infinite Credit Card focuses on earning Skywards Miles for every spend, which can be redeemed for flights, upgrades, and other travel-related expenses with Emirates and its partners. Additionally, it offers a welcome bonus of up to 75,000 Skywards Miles, making it highly attractive for frequent Emirates flyers.
- ADCB Infinite Credit Card: The ADCB Infinite Credit Card allows cardholders to earn TouchPoints on every spend, which can be redeemed for travel, shopping, dining, and more, offering versatile redemption options. It also provides a substantial welcome bonus of up to 200,000 TouchPoints, enhancing the initial value for new users.
- HSBC Premier World Elite Mastercard: This card enables cardholders to earn Rewards Points on every spend, which can be redeemed for travel, shopping, and various other rewards. It also offers a generous welcome bonus of up to 200,000 Rewards Points, making it a compelling choice for new users who meet the spending requirements.
2. Travel Benefits
- FAB Rewards Elite Credit Card: The FAB Rewards Elite Credit Card provides complimentary access to over 1,000 airport lounges worldwide, ensuring a comfortable travel experience. It also includes comprehensive travel insurance for cardholders and their families and complimentary airport transfer services, adding convenience and comfort to travel.
- Emirates NBD Skywards Infinite Credit Card: The Emirates NBD Skywards Infinite Credit Card offers unlimited complimentary lounge access for cardholders and a guest, comprehensive travel insurance, and up to four complimentary airport transfers per year. These benefits make it a strong contender for frequent travelers.
- ADCB Infinite Credit Card: The ADCB Infinite Credit Card offers complimentary access to select airport lounges globally, comprehensive travel insurance, and meet-and-greet services at selected airports, providing significant travel conveniences similar to the FAB Rewards Elite Card.
- HSBC Premier World Elite Mastercard: This card provides unlimited complimentary lounge access worldwide, extensive travel insurance coverage, and global concierge services for travel arrangements, offering a high level of service and travel comfort similar to the FAB Rewards Elite Card.
3. Lifestyle Perks
- FAB Rewards Elite Credit Card: The FAB Rewards Elite Credit Card offers exclusive dining discounts at high-end restaurants, special promotions at luxury retail stores, and 24/7 concierge services for travel bookings, dining reservations, and event tickets. These perks enhance the cardholder’s everyday lifestyle.
- Emirates NBD Skywards Infinite Credit Card: This card provides discounts on dining and shopping through Skywards Miles redemption, complimentary golf access up to two rounds per month, and 24/7 concierge services. These benefits cater to those who value leisure and convenience.
- ADCB Infinite Credit Card: The ADCB Infinite Credit Card offers discounts on dining, shopping, and wellness services via TouchPoints, complimentary golf rounds at select courses, and 24/7 concierge services, offering a comprehensive range of lifestyle perks similar to the FAB Rewards Elite Card.
- HSBC Premier World Elite Mastercard: This card includes discounts on dining, shopping, and travel, complimentary golf access at select courses, and 24/7 personal assistance through concierge services, providing extensive lifestyle benefits that are comparable to those offered by the FAB Rewards Elite Card.
4. Fees and Rates
- FAB Rewards Elite Credit Card: The FAB Rewards Elite Credit Card has a competitive interest rate of 2.75% per month, a minimum salary requirement of AED 30,000 per month, and an annual fee of AED 2,500, which is justified by its extensive range of benefits and rewards.
- Emirates NBD Skywards Infinite Credit Card: This card has an interest rate around 2.99% per month, a lower minimum salary requirement of AED 25,000 per month, and a higher annual fee of AED 3,000. These fees are slightly higher, but the card offers substantial travel perks.
- ADCB Infinite Credit Card: The ADCB Infinite Credit Card has an interest rate around 3.25% per month, a similar minimum salary requirement of AED 30,000 per month, and an annual fee of AED 2,500, matching the FAB Rewards Elite Card with comparable benefits.
- HSBC Premier World Elite Mastercard: This card offers an interest rate around 2.99% per month, a higher minimum salary requirement of AED 50,000 per month, and a lower annual fee of AED 2,000, providing a cost-effective option with substantial perks.
5. Additional Benefits
- FAB Rewards Elite Credit Card: The FAB Rewards Elite Credit Card includes extended warranties up to one year, purchase protection against theft or damage, and global emergency assistance services, providing significant additional protections.
- Emirates NBD Skywards Infinite Credit Card: This card offers similar additional benefits such as extended warranties up to one year, purchase protection, and global emergency assistance, providing comparable protections to the FAB Rewards Elite Card.
- ADCB Infinite Credit Card: The ADCB Infinite Credit Card provides extended warranties, purchase protection against theft or damage on eligible purchases, and global emergency assistance services, offering similar additional benefits to the FAB Rewards Elite Card.
- HSBC Premier World Elite Mastercard: This card includes comprehensive extended warranties, extensive purchase protection, and robust global assistance services, ensuring a high level of additional protection similar to the FAB Rewards Elite Card.
Is the FAB Rewards Elite Credit Card better than its rivals?
The FAB Rewards Elite Credit Card excels with its high rewards rate of up to 5 FAB Rewards points per AED 1 spent and flexible redemption options, making it superior in everyday spending compared to its rivals. Its comprehensive travel benefits, including access to over 1,000 airport lounges, extensive travel insurance, and complimentary airport transfers, make it a strong choice for frequent travelers. The card also offers exclusive lifestyle perks such as dining discounts, luxury shopping promotions, and 24/7 concierge services, adding significant value.
However, the FAB Rewards Elite card has a high annual fee of AED 2,500 and a substantial minimum salary requirement of AED 30,000 per month, which might be a deterrent for some users. Its interest rate of 2.75% per month is competitive but higher than some rivals, such as the HSBC Premier World Elite Mastercard, which offers similar benefits at a lower annual fee and interest rate. Additionally, the Emirates NBD Skywards Infinite Credit Card provides more travel-centric rewards, such as Skywards Miles and unlimited complimentary lounge access, which may appeal more to frequent Emirates flyers. Overall, while the FAB Rewards Elite Card offers robust rewards and perks, its high costs and specific benefits may not be as attractive to those seeking lower fees or more travel-focused rewards.
Conclusion
The FAB Rewards Elite Credit Card offers an excellent rewards program, comprehensive travel benefits, and exclusive lifestyle perks, making it highly attractive for high-income earners who seek premium benefits. Its high annual fee and interest rate are justified by the extensive range of perks and protections it provides. Overall, this card is well-suited for individuals who can leverage its benefits effectively, especially those who frequently travel and dine out. Whether you are looking to earn significant rewards on everyday spending or enjoy a luxurious travel experience, the FAB Rewards Elite Credit Card provides a robust package of features and benefits that cater to a premium lifestyle.