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Frequently Asked Questions

Titanium Credit Card

RAKBANK Titanium Card is a new financial revolution in Credit Cards. It is not only the FIRST Titanium Card in the region but also the FIRST Premium Credit Card which gives you the maximum rewards on your spends, with no annual fees. The Card is also powered with a host of exclusive privileges and offers that other Credit Cards cannot match. Simply, RAKBANK Titanium Card is the best and most rewarding Credit Card in the region!

 

The Titanium Card comes with exciting advantages as follows:

  • Get 5% Cashback on Supermarket, Dining & Fuel and 50% on Cinema spends on your Titanium Credit Card subject to the minimum monthly overall retail spend of AED 5,000 per month. The customer can earn Cashback anytime, anywhere, worldwide on all his retail purchases. 
  • No annual fee ever
  • Competitive interest rate- RAKBANK Titanium Credit Card also offers a competitive interest rate on outstanding amount carried forward, making the Card truly the best.
  • Complimentary access to over 10 VIP lounges in Unlimited airport lounge access at Dubai, Abu Dhabi, Amman, Cairo, Kuwait, and Jeddah airports.
  • Exclusive offers on electronics, jewellery, holidays, dining, furnishing and much more
  • Apart from the exclusive discounts, customers will also earn Cashback when they use their Card to make purchases at these outlets.
  • Enjoy discounted chauffeur rides with Careem. Get 20% discount monthly twice and new Careem Customers can get their first ride free. Simply download the Careem app and enter promo code MasterCard when booking your ride.
  • FREE Purchase Protection and Travel Insurance. FREE Fraud Protection Insurance brought to you by MasterCard®.

Cashback is a permanent feature of the Titanium Card; through this feature customer can get maximum returns on their retail spend. This program empowers the customer with the triple advantage of:

  • Maximum Value: Through this program the customer gets a guaranteed return on all retail purchases. Anytime… anywhere!. This is how it works:
    Monthly Spend – Domestic & International (AED) Monthly Standard Cashback
    1 -  14,999 1%
    15,000 and above 2%
    Maximum Monthly Cashback Cap AED 1,500*

    Note:
    Maximum Cashback of AED 1,500 would be applicable for Cashback earned in any billing month
     

  • Maximum Flexibility: The Cashback is credited to the customer’s account as and when requested by the customer. It will be deducted from the amount due, should there be any outstanding amount. In case of no outstanding amount, the customer can still request for redemption and use this Cashback to make any further purchases.
  • Maximum Convenience: The customer can simply call our 24 x 7 Phone Banking Centre or log in to RAKBANK Digital Banking and request to redeem his/her Cashback. No paper work, no filling up forms. The Cashback will be credited to his Card Account within 3 working days of receiving his instructions.

*Effective January 1st 2018, all spends under the category of Government Services and Utility Payments will earn 0.25% Cashback for every AED 1 spent.

*Effective August 2nd 2018, all spends under the category of Bill Payments (Telecommunication & utility), Real Estate, Car Rentals, Transport and Petrol/Gas Stations will earn 0.25% cashback for every AED 1 spent.

This Cashback amount is over and above all the discounts offered by the merchants from time to time. By just using the Titanium Card at the merchant the customer will automatically earn Cashback. The Cashback will not be deducted from their overall bill generated at the merchant establishment. However, it will reflect in the monthly statement, post which the Cardholder can request for redemption

There is no enrollment fee charged as of now.

The Cardholder gets automatically enrolled into the program on activating the card.He may un-enroll by intimating Phone Banking.

By simply calling Phone Banking on 04 213 0000 or log on to RAKBANK Digital Banking to request redemption, the customer can request for the Cashback amount to be redeemed. No paperwork and no filing up forms. The Cashback will be credited to the customer’s account within 3 working days of receiving the instructions. The minimum redemption amount should be AED 100. The Cashback amount summary will appear in the monthly statement. Which will consist of the balance carried forward from the last statement, Cashback earned on current statement’s retails spends, Cashback redeemed during current statement period & Balance Carried forward.

It is totally up to the customer how he wishes to use the Cashback amount. In case there is an outstanding amount on the card when the redemption request gets processed, the Cashback will be adjusted against that, and the amount due from the Cardholder to the bank will be reduced to that extent. If no outstanding is there on the card, the Cashback redeemed will reflect as a credit balance and can be used by the Cardholder to make further purchases – and earn further Cashback! Only the Primary Cardholder can redeem this amount and it can either be credited to his account. Please note that the redeemed Cashback cannot be en-cashed or transferred to any entity/ any other card.

Yes, on activating the Card, the customer will automatically get enrolled for the facility.

In the case of any outstanding on the Customer’s Card, the Cashback will clear it off just like a cash payment. In the case of no outstanding the Cashback amount will reflect as a credit in the Card account.

The Cashback offer is applicable only on the retail transactions. Hence the below transactions will not earn Cashback:

  • Balance Transfers
  • Local Cash Advances
  • Credit Card Cheques
  • Finance Charges
  • All fees charged on the Card by the Bank
  • Transactions reversed by the Merchant
  • Utility bill payments like telephone bills, water and electricity bills made through the Bank's payment channels like IVR, Internet Banking, ATM, Mobile Banking or any other Bank's payment channel
  • Any other transaction determined by the Bank from time to time

Shopping or paying utility bills on the Internet will also qualify for the Cashback.

No Cashback will be provided in these cases. Only retails spends will qualify for the Cashback

The minimum amount that the customer can redeem at any instance is AED 100. The maximum cap on earning or redeeming Cashback is AED 1,500 on retail spends per billing cycle.

 

No

Unredeemed Cashback amount will expire within 15 months. Hence it is mandatory that the customer redeems accumulated Cashback in 15 months, or the same will be forfeited

No, there is no minimum spend. The customer can start earning Cashback right away. Just activate your Card and start using it.