The FAB Rewards Platinum Credit Card is a premium offering from the First Abu Dhabi Bank (FAB), designed to provide an exceptional range of benefits and rewards for its users. This card is tailored to meet the needs of discerning customers who seek value and flexibility in their financial products. With a focus on rewards, travel perks, lifestyle privileges, and financial flexibility, the FAB Rewards Platinum Credit Card stands out as a versatile and rewarding choice.
Key Features and Benefits
- Rewards Program
The FAB Rewards Platinum Credit Card gives you points for every purchase. These points can be used for travel bookings, hotel stays, shopping vouchers, and more. The system is made to help you earn the most points no matter what you spend on. - Travel Benefits
If you travel a lot, this card has great perks for you:- Airport Lounge Access: Get free access to over 25 airport lounges around the world, giving you a comfy place to relax during travel.
- Travel Insurance: Enjoy full travel insurance that covers medical emergencies, trip cancellations, and lost luggage, so you can travel with peace of mind.
- Lifestyle Privileges
The card offers special deals and discounts for dining, entertainment, and shopping. Partnered with many merchants, it provides great savings whether you’re eating out, having fun, or shopping. - Financial Flexibility
The FAB Rewards Platinum Credit Card helps manage your finances with:- Easy Installment Plans: Turn big purchases into easy monthly payments with good interest rates.
- Balance Transfers: Move balances from other credit cards to this one at favorable rates to better handle your debt.
- Security Features
Security is top-notch with this card, featuring:- Advanced Security: Chip-and-PIN technology, 24/7 fraud monitoring, and secure online transactions protect you from unauthorized use.
- Fraud Liability Coverage: If someone uses your card without permission, you’re protected and won’t be responsible for those charges.
- Customer Support
FAB provides excellent customer support. Whether you have questions about the rewards program, need help with travel bookings, or need to report a lost card, their team is available all the time to help you out.
Eligibility and Application Process
To get the FAB Rewards Platinum Credit Card, you need to meet some requirements like having a minimum income and being a resident. You can apply online or at any FAB branch, and you’ll need to provide documents like proof of income, passport copies, and residency visas if you’re an expatriate.
After you submit your application, FAB will check your credit and, if approved, they’ll issue the card quickly. This efficient process means you can start enjoying all the card’s benefits without waiting too long.
Fees and Charges
The FAB Rewards Platinum Credit Card comes with an annual fee, which is competitive given the range of benefits offered. Additionally, the card has interest rates on carried balances and foreign transaction fees, which are important considerations for potential cardholders. It’s essential to review the card’s fee structure and terms and conditions to understand the full cost of ownership.
Pros and Cons of the FAB Rewards Platinum Credit Card
Pros
- Robust Rewards Program
Cardholders earn 1.5 FAB Rewards points for every AED 1 spent domestically and 2 FAB Rewards points for every AED 1 spent internationally. Points can be redeemed for travel bookings, hotel stays, shopping vouchers, and more, offering versatile benefits. - Travel Benefits
Cardholders enjoy complimentary access to over 25 regional and international airport lounges, enhancing the travel experience. The card provides travel insurance coverage, including up to USD 500,000 for medical emergencies, USD 5,000 for trip cancellations, and USD 3,000 for lost luggage, ensuring peace of mind during travels. - Lifestyle Privileges
Cardholders benefit from exclusive discounts and offers at partner restaurants, entertainment venues, and retail stores.You’ll get regular promotions and special deals that make your everyday spending even better. - Financial Flexibility
The card allows large purchases to be converted into manageable monthly installments at competitive interest rates, typically around 0.79% per month. Additionally, cardholders can transfer balances from other cards at a rate as low as 0% for the first 6 months, helping manage debt more effectively. - Security Features
The card features advanced security measures such as chip-and-PIN technology, 24/7 fraud monitoring, and secure online transactions to protect against fraud. Cardholders are also protected from unauthorized transactions with zero liability for fraudulent charges. - Exceptional Customer Support
Cardholders receive round-the-clock customer service to address any issues or queries. Concierge services are there to help you with travel bookings, planning events, and other important stuff.
Cons
1. Annual Fee
- Cost Consideration: The card has an annual fee of AED 750, which could be a drawback for some users if the benefits do not outweigh the cost for their specific spending habits.
2. Eligibility Requirements
- Income Thresholds: The card requires a minimum monthly income of AED 10,000, which may make it inaccessible to some potential applicants.
- Credit Assessment: Applicants must undergo a credit assessment, which can be unfavorable for individuals with less-than-perfect credit scores.
3. Interest Rates
- High Interest Rates: The card has an interest rate of 3.25% per month on carried balances, making it expensive if not paid off in full each month.
4. Redemption Limitations
- Point Expiry: FAB Rewards points expire after 3 years, requiring cardholders to redeem them within this period.
- Redemption Process: The process of redeeming points might be complex or restrictive, depending on the terms set by FAB.
5. Foreign Transaction Fees
- Additional Costs: The card charges a foreign transaction fee of 2.99% on purchases made outside the home country, adding extra costs for international travelers.
6. Overlapping Benefits
- Redundancy: Some cardholders might find that the benefits overlap with those offered by other cards they possess, reducing the overall value proposition.
Point-by-Point Comparison of FAB Rewards Platinum Credit Card with Three Rival Cards
1. Comprehensive Rewards Program
| Feature | FAB Rewards Platinum Credit Card | Emirates NBD LuLu Platinum Credit Card | ADCB TouchPoints Platinum Credit Card | Mashreq SmartSaver Platinum Credit Card |
|---|---|---|---|---|
| Domestic Spend | 1.5 FAB Rewards points per AED 1 | 1 LuLu point per AED 1 | 1 TouchPoint per AED 1 | 1 Salaam point per AED 1 |
| International Spend | 2 FAB Rewards points per AED 1 | 1.25 LuLu points per AED 1 | 2 TouchPoints per AED 1 | 2 Salaam points per AED 1 |
| Redemption Options | Travel, hotel stays, shopping vouchers | Shopping vouchers at LuLu Hypermarkets | Travel, shopping, bill payments, vouchers | Travel, shopping, vouchers |
2. Travel Benefits
| Feature | FAB Rewards Platinum Credit Card | Emirates NBD LuLu Platinum Credit Card | ADCB TouchPoints Platinum Credit Card | Mashreq SmartSaver Platinum Credit Card |
|---|---|---|---|---|
| Airport Lounge Access | 25+ regional and international lounges | Limited to certain lounges | 25+ regional and international lounges | 10+ regional and international lounges |
| Travel Insurance | Up to USD 500,000 medical, USD 5,000 trip cancellation, USD 3,000 lost luggage | Up to USD 500,000 medical, USD 2,500 trip cancellation | Up to USD 500,000 medical, USD 5,000 trip cancellation | Up to USD 500,000 medical, USD 3,000 trip cancellation, USD 2,500 lost luggage |
3. Lifestyle Benefits
| Feature | FAB Rewards Platinum Credit Card | Emirates NBD LuLu Platinum Credit Card | ADCB TouchPoints Platinum Credit Card | Mashreq SmartSaver Platinum Credit Card |
|---|---|---|---|---|
| Exclusive Discounts | Dining, entertainment, retail | Discounts at LuLu outlets | Dining, entertainment, retail discounts | Dining, travel, and shopping offers |
| Special Deals | Regular promotions with partner merchants | Offers on groceries, electronics, and home appliances | Regular promotions and exclusive deals | Cashback offers and regular promotions |
4. Financial Flexibility
| Feature | FAB Rewards Platinum Credit Card | Emirates NBD LuLu Platinum Credit Card | ADCB TouchPoints Platinum Credit Card | Mashreq SmartSaver Platinum Credit Card |
|---|---|---|---|---|
| Installment Plans | 0.79% per month for large purchases | 0.99% per month | 0.88% per month | 0.89% per month |
| Balance Transfers | 0% for 6 months | 0% for 6 months | 0% for 12 months | 0% for 3 months |
5. Security Features
| Feature | FAB Rewards Platinum Credit Card | Emirates NBD LuLu Platinum Credit Card | ADCB TouchPoints Platinum Credit Card | Mashreq SmartSaver Platinum Credit Card |
|---|---|---|---|---|
| Security | Chip-and-PIN, 24/7 fraud monitoring, secure online transactions | Chip-and-PIN, 24/7 fraud monitoring, secure online transactions | Chip-and-PIN, 24/7 fraud monitoring, SMS alerts for transactions | Chip-and-PIN, 24/7 fraud monitoring, secure online transactions |
| Fraud Liability Coverage | Zero liability for unauthorized transactions | Zero liability for unauthorized transactions | Zero liability for unauthorized transactions | Zero liability for unauthorized transactions |
6. Customer Support
| Feature | FAB Rewards Platinum Credit Card | Emirates NBD LuLu Platinum Credit Card | ADCB TouchPoints Platinum Credit Card | Mashreq SmartSaver Platinum Credit Card |
|---|---|---|---|---|
| Assistance | 24/7 customer service | 24/7 customer service and online chat support | 24/7 customer service | 24/7 customer support |
| Concierge Services | Travel bookings, event planning | Travel and lifestyle services | Travel and event arrangements | Travel, dining, and entertainment arrangements |
7. Annual Fee
| Feature | FAB Rewards Platinum Credit Card | Emirates NBD LuLu Platinum Credit Card | ADCB TouchPoints Platinum Credit Card | Mashreq SmartSaver Platinum Credit Card |
|---|---|---|---|---|
| Annual Fee | AED 750 | AED 500 | AED 750 | AED 650 |
8. Eligibility Requirements
| Feature | FAB Rewards Platinum Credit Card | Emirates NBD LuLu Platinum Credit Card | ADCB TouchPoints Platinum Credit Card | Mashreq SmartSaver Platinum Credit Card |
|---|---|---|---|---|
| Minimum Monthly Income | AED 10,000 | AED 8,000 | AED 8,000 | AED 10,000 |
9. Interest Rates
| Feature | FAB Rewards Platinum Credit Card | Emirates NBD LuLu Platinum Credit Card | ADCB TouchPoints Platinum Credit Card | Mashreq SmartSaver Platinum Credit Card |
|---|---|---|---|---|
| Interest Rate | 3.25% per month on carried balances | 3.09% per month on carried balances | 3.25% per month on carried balances | 3.45% per month on carried balances |
10. Foreign Transaction Fees
| Feature | FAB Rewards Platinum Credit Card | Emirates NBD LuLu Platinum Credit Card | ADCB TouchPoints Platinum Credit Card | Mashreq SmartSaver Platinum Credit Card |
|---|---|---|---|---|
| Foreign Transaction Fee | 2.99% | 2.89% | 2.89% | 3.25% |
How does it compare to its Rivals?
The FAB Rewards Platinum Credit Card offers a competitive array of benefits, particularly for those who frequently travel or spend on lifestyle and entertainment. In general it has better rewards than its rivals, especially on domestic(UAE) spending 1.5% compared to rival cards reward at 1%.
- Emirates NBD LuLu Platinum Credit Card: Best for frequent shoppers at LuLu Hypermarkets with lower annual fees and income requirements.
- ADCB TouchPoints Platinum Credit Card: Offers a strong rewards program and a slightly lower interest rate, suitable for those looking for comprehensive lifestyle benefits.
- Mashreq SmartSaver Platinum Credit Card: Provides a balanced mix of rewards and benefits with a moderate annual fee and diverse redemption options but higher foreign transaction fees.
The FAB Rewards Platinum Credit Card is a premium financial product that offers a blend of rewards, travel perks, lifestyle privileges, and financial flexibility. This card is made to fit lots of different people, making it super useful for anyone who wants to boost their buying power and get extra perks on their spending. With its comprehensive suite of features and robust customer support, the FAB Rewards Platinum Credit Card stands as a testament to FAB’s commitment to providing premium financial services to its customers. Whether you are a frequent traveler, a shopping enthusiast, or someone who values financial flexibility, this card offers substantial benefits that make it a worthwhile addition to your wallet.