The Mashreq Visa Cashback Credit Card offers a compelling proposition for individuals looking to earn rewards on their everyday spending without the burden of annual fees. With a range of cashback benefits and welcome bonuses, this card provides excellent value for both new and existing customers.
Unlimited Cashback: The standout feature of this card is its unlimited cashback on every spend, making it a lucrative choice for those who want to maximize their rewards with no caps or limits.
Generous Welcome Bonus: New credit card customers can enjoy a substantial AED 1,000 welcome bonus by spending AED 9,500 or more within the first 2 months post-card issuance. Even for existing customers, there’s a welcoming AED 100 bonus for spending AED 5,000 or more in the same period.
Cashback Rewards: The card offers competitive cashback rates, including 5% cashback on both international and local dining spends, 2% cashback on other international spends, and up to 1% cashback on local spends. Moreover, there’s an additional 20% cashback for the first 6 months at select merchants like Zomato and Netflix, adding extra value for new cardholders.
Exclusive Benefits: Cardholders also gain access to the DragonFly & Dine Programme and Visa Mena Offers, which provide dining discounts and 2-for-1 deals on food, entertainment, and shopping, as well as over 5,000 travel discounts through the Visa Offers MENA app.
No Annual Fees: One of the most attractive aspects of this card is its zero annual fees, for both the primary and supplementary cardholders, ensuring that cardholders can enjoy the benefits without worrying about additional costs.
Flexible Payment Options: With an interest-free period and easy payment plan options, cardholders have the flexibility to manage their finances efficiently and conveniently.
Pros and cons of the Mashreq Visa Cashback Credit Card:
Pros:
- Unlimited Cashback:
- Enjoy unlimited cashback on every spend, allowing cardholders to maximize rewards without caps or limits.
- Generous Welcome Bonus:
- New customers can benefit from a substantial AED 1,000 welcome bonus by meeting the spending criteria within the specified timeframe.
- Competitive Cashback Rates:
- Enjoy attractive cashback rates: 5% on dining both locally and abroad, 2% on other international purchases, and up to 1% on local transactions
- Additional Cashback Offers:
- Receive an extra 20% cashback for the first 6 months at select merchants such as Zomato and Netflix, enhancing the overall rewards potential.
- Exclusive Benefits:
- Access exclusive benefits like the DragonFly & Dine Programme and Visa Mena Offers, providing dining discounts and 2-for-1 deals on food, entertainment, and shopping.
- No Annual Fees:
- Enjoy the card’s benefits without the burden of annual fees for both primary and supplementary cardholders.
- Flexible Payment Options:
- Benefit from an interest-free period and easy payment plan options, providing flexibility in managing finances efficiently.
Cons:
- Limited Cashback Categories: While the card offers competitive cashback rates, it may have limited categories compared to other cashback cards, potentially restricting earning potential in certain spending areas.
- Cashback Restrictions: Cashback may not be applicable on specific types of bill payments made via Mashreq Online and Mashreq Mobile, limiting earning opportunities for certain transactions.
- Conditional Welcome Bonus: The welcome bonus is contingent upon meeting specific spending requirements within a limited timeframe, which may not be feasible for all cardholders.
- Cashback Caps: Although the card provides unlimited cashback, the extra 20% cashback at select merchants during the first 6 months is limited to AED 50 per merchant each month.
- Interest Rates: The card carries an interest rate of 3.85% per month, which is relatively high and can accumulate quickly if balances are not paid in full each month.
- Monthly Minimum Payment: Cardholders are required to make a monthly minimum payment of 5% of their statement balance, which may be challenging for some individuals to meet consistently.
Understanding these pros and cons can help individuals assess whether the Mashreq Visa Cashback Credit Card aligns with their financial needs and spending habits.
Cashback Rates:
- Mashreq Visa Cashback Credit Card: Offers unlimited cashback on every spend.
- Emirates NBD Cashback Credit Card: Provides cashback on various categories such as groceries, dining, and utility bills.
- ADCB LuLu Cashback Credit Card: Offers cashback on various categories, including LuLu spends, dining, and utility bills.
Welcome Bonus:
- Mashreq Visa Cashback Credit Card: New customers receive AED 1,000 upon spending AED 9,500 in the first 2 months. Existing customers get AED 100 upon spending AED 5,000 in the same period.
- Emirates NBD Cashback Credit Card: Offers a welcome bonus upon meeting specified spending requirements.
- ADCB LuLu Cashback Credit Card: May offer a welcome bonus for new cardholders.
Additional Cashback Offers:
- Mashreq Visa Cashback Credit Card: Get an additional 20% cashback for the first 6 months at select merchants like Zomato and Netflix, with a limit of AED 50 per merchant each month.
- Emirates NBD Cashback Credit Card: None specified.
- ADCB LuLu Cashback Credit Card: None specified.
Exclusive Benefits:
- Mashreq Visa Cashback Credit Card: Access to DragonFly & Dine Programme and Visa Mena Offers.
- Emirates NBD Cashback Credit Card: Access to Emirates NBD Offers and discounts.
- ADCB LuLu Cashback Credit Card: Access to LuLu Offers and discounts.
Fees:
- Mashreq Visa Cashback Credit Card: No annual fees for both primary and supplementary cardholders.
- Emirates NBD Cashback Credit Card: Some variants may have annual fees.
- ADCB LuLu Cashback Credit Card: Some variants may have annual fees.
Flexibility:
- Mashreq Visa Cashback Credit Card: Offers an interest-free period and easy payment plan options for added flexibility in managing finances.
- Emirates NBD Cashback Credit Card: None specified.
- ADCB LuLu Cashback Credit Card: None specified.
To Sum up the comparison
The Mashreq Visa Cashback Credit Card is better than the other two cards on several of reasons. First, it gives you unlimited cashback on everything you buy, while the Emirates NBD and ADCB LuLu cards limit cashback to certain categories. Plus, the Mashreq card has a big welcome bonus—new customers can get a huge AED 1,000 bonus if they spend a certain amount, and existing customers also get a welcome bonus.
For the first 6 months, you get extra cashback at places like Zomato and Netflix, which the other cards don’t offer. You also get access to cool programs like the DragonFly & Dine Programme and Visa Mena Offers. And the best part? The Mashreq card has no annual fees for both the main card and extra cards, making it cheaper to use.
So, with its unlimited cashback, awesome bonuses, extra offers, special benefits, and no fees, the Mashreq Visa Cashback Credit Card is a great choice for anyone looking for a flexible and rewarding credit card.
Conclusion
The Mashreq Visa Cashback Credit Card is an excellent choice for individuals seeking a rewarding credit card experience without the hassle of annual fees. With its unlimited cashback, generous welcome bonuses, and a host of exclusive benefits, this card offers exceptional value for everyday spending.