The RAKBANK Titanium Credit Card meets today’s financial needs of a fast-paced world, and also rewards you for your spending, which is essential. The RAKBANK Titanium Credit Card – a versatile financial tool designed to cater to your everyday expenses while offering lucrative cashback rewards and exclusive privileges.
Cash Back Features
At the heart of the Titanium Credit Card are its impressive cashback features. Cardholders can earn up to 5% cashback on a wide array of expenditures, including shopping, dining, and entertainment, both domestically and internationally. Whether you’re stocking up on groceries for the week, enjoying a meal at your favorite restaurant, or catching the latest blockbuster at the cinema, the Titanium Credit Card ensures that you’re rewarded for your spending habits. Plus, with cashback rates of up to 5% at supermarkets, dining outlets, and cinemas, you can enjoy significant savings on your everyday purchases.
But the rewards don’t stop there. The Titanium Credit Card also offers up to 2% standard cashback on all retail purchases, internet transactions, and international cash advances. This means that every time you swipe your card, you’re not just making a purchase – you’re also earning valuable cashback rewards. And with a maximum cashback limit of AED 1,500 per month, there’s plenty of opportunity to maximize your earnings.
Hotel and Car Hire Benefits
One of the standout features of the Titanium Credit Card is its exclusive offers on hotel bookings and transportation services. Cardholders can enjoy discounts and cashback benefits on hotel stays, making it easier and more affordable to plan your next getaway. Additionally, the card offers great savings on car rentals, with discounts of up to 20% and complimentary upgrades available with every rental. Whether you’re traveling for business or leisure, the Titanium Credit Card ensures that you can enjoy a comfortable and convenient travel experience without breaking the bank.
Eligibility
Eligibility for the Titanium Credit Card is straightforward, requiring a minimum monthly salary of AED 8,000. This ensures accessibility for a wide range of individuals, from young professionals to seasoned executives. Plus, with the convenience of the RAKBANK App, managing your finances has never been easier. The app allows users to monitor their spending, track their cashback rewards, and access a host of digital banking services – all from the palm of their hand.
Travel Benefits
But perhaps one of the most appealing benefits of the Titanium Credit Card is its access to over 10 airport lounges worldwide. Equipped with business facilities, resting areas, and refreshments, airport lounges provide the perfect respite for travelers looking to unwind before their next flight. Whether you’re jetting off on a business trip or embarking on a well-deserved vacation, the Titanium Credit Card ensures that you can enjoy a seamless and stress-free travel experience from start to finish.
Cashback
Earning cashback with your RAKBANK Titanium Card is easy and rewarding. Enjoy guaranteed returns on all retail purchases, both domestically and internationally, with a monthly standard cashback rate of 1% for spends between AED 1 and 14,999, and 2% for spends of AED 15,000 and above, up to a maximum monthly cashback cap of AED 1,500.
Flexibility is key, as cashback can be requested at any time and is conveniently credited to your account within 3 working days, reducing your outstanding balance. However, note that a minimum redemption amount of AED 500 applies. Cashback applies to retail transactions including online shopping and utility bills, excluding specific transactions such as balance transfers, cash advances, and certain fees charged by the bank.
Additionally, specific categories earn a lower cashback rate, with Government Services, Utility Payments, Bill Payments, Real Estate, Car Rentals, Transport, and Petrol/Gas Stations earning 0.25% cashback for every AED 1 spent, effective from January 2018 and August 2018 respectively.
Fees and Penalties
The fees associated with the RAKBANK Titanium Credit Card are designed to be competitive and transparent, ensuring that cardholders can make informed decisions about their finances. While specific fee structures may vary depending on individual circumstances and promotional offers, some common fees associated with this credit card include:
Annual Fee: No Annual fee.
Interest Charges: Like most credit cards, the Titanium Credit Card may accrue interest charges on outstanding balances that are not paid in full by the due date. It’s important for cardholders to understand the applicable interest rates and repayment terms to avoid unnecessary fees. It is 3.65% per month at the moment.
Foreign Transaction Fees: For transactions made in a currency other than the card’s default currency (usually AED), foreign transaction fees may apply. These fees are typically calculated as a percentage of the transaction amount and can add up quickly for frequent international travelers.
Late Payment Fees: Cardholders who fail to make their minimum monthly payment on time may incur late payment fees. These fees serve as a penalty for missed payments and can vary depending on the outstanding balance and the terms of the credit card agreement.
Cash Advance Fees: If cardholders use their Titanium Credit Card to withdraw cash from an ATM or perform cash-like transactions, such as purchasing traveler’s checks, cash advance fees may apply. These fees are typically higher than regular transaction fees and may also incur additional interest charges from the date of the transaction.
It’s essential for cardholders to review the terms and conditions of their specific credit card agreement to understand all applicable fees and charges. Additionally, staying informed about any changes to fee structures or promotional offers can help cardholders manage their finances effectively and avoid unnecessary expenses.
Summary of Benefits
- Get 5% cashback on groceries, dining out, and fuel purchases, provided your total monthly retail spending reaches at least AED 5,000.
- 50% cashback on cinema spends, subject to the same minimum monthly overall retail spend.
- Cashback rewards anytime, anywhere, worldwide on all retail purchases.
- No annual fees, ensuring hassle-free ownership.
- Competitive interest rates on carried forward outstanding balances.
- Complimentary access to over 10 VIP lounges, offering unlimited airport lounge access at major airports including Dubai, Abu Dhabi, Amman, Cairo, Kuwait, and Jeddah.
- Exclusive offers on electronics, jewelry, holidays, dining, furniture, and more, providing additional value with every purchase.
- Discounts and cashback rewards at partner outlets, enhancing the cardholder’s shopping experience.
- Discounted chauffeur rides with Careem, including two 20% discounts per month, with new Careem customers receiving their first ride for free.
- Free Purchase Protection and Travel Insurance for added peace of mind.
- Free Fraud Protection Insurance provided by Mastercard®, ensuring secure transactions at all times.
Conclusion
In conclusion, the RAKBANK Titanium Credit Card is more than just a financial tool – it’s a gateway to a world of rewards and privileges. With impressive cashback rates, exclusive offers on hotel bookings and transportation services, and access to airport lounges worldwide, the Titanium Credit Card offers unparalleled value to cardholders. So why wait? Unlock the benefits of the Titanium Credit Card today and start earning rewards on your everyday spending.
How to Apply for the RAKBANK Titanium Credit Card
To apply for the RAKBANK Titanium Credit Card, you can follow these simple steps:
- Visit the RAKBANK website or download the RAKBANK mobile app.
- Navigate to the credit cards section and select the Titanium Credit Card.
- Begin your application by clicking on the “Apply Now” button.
- Complete the online form by entering your personal information, such as your name, contact details, and job information.
- Provide the required documents, such as your Emirates ID, passport copy, salary certificate, and bank statements.
- Carefully read through the credit card agreement’s terms and conditions.
- Submit your application.
- Once your application is processed and approved, you will receive your RAKBANK Titanium Credit Card, allowing you to start enjoying its benefits and rewards.
Alternatively, you can visit a RAKBANK branch near you and apply for the Titanium Credit Card in person. Don’t forget to carry all necessary documents for a smooth application process.