This one-of-a-kind credit card is for those who wish to supplement their regular lifestyle with amazing savings, offers and benefits in addition to the world-class short-term credit functionality of a credit card from Mashreq Bank. Earning cashback on your spending has never been easier than with the Mashreq Bank SmartSaver Credit Card. It’s the only savings card that earns cashback from your first spend, and offers mega savings of up to 10% across everyday expenditures in places like supermarkets, retail & fashion outlets, furniture, health and wellness centres, etc. The card also uses the latest Chip & PIN technology facilitating faster and more secure transactions.
Features of the Mashreq Bank SmartSaver Credit Card
- No annual fees or registration fees.
- Card is free for life.
- No charge on maintenance.
- Retail interest rate of 3.25% per month.
- Cash advance loan of up to 75% of credit limit.
- Cash advance interest rate of 3.09% per month.
- Cash advance fee of 3% or AED 100, whichever is higher.
- Balance transfer is possible from other cards onto your SmartSaver credit card to make use of the attractive interest rates and save money.
- Online and phone banking facilities mean you can check your account details, request for a cheque book, statements and conduct other banking functions without having to physically visit the bank.
- Mobile banking with SNAPP, Mashreq’s cross-platform free mobile banking application.
- UAEs largest 0% Easy Payment Plan makes it possible to divide your purchase cost into EMIs with 0% interest. It’s applicable for over 100 brands in over 1,000 partner outlets.
- Credit Shield waives off your outstanding balance up to AED 50,000 in case you lose your life or are rendered permanently disabled. You will also be covered up to AED 48,000 (maximum AED 4,000 per month for 12 months) in case you involuntarily are rendered unemployed. It also covers your hospitalization expenses up to AED 12,000 (AED 200 per day for maximum 60 days). All these benefits are charged at 0.89% of your monthly outstanding balance.
Benefits of the Mashreq Bank SmartSaver Credit Card
- Save up to 10% on everyday spending from supermarkets and grocery stores to fashion retail shopping, auto rentals and travel.
- No caps on savings at over 450 partner outlets – the more you spend, the more you save.
- Guaranteed savings of 1.25% on local purchases.
- 3.25% savings on all international expenditures paid for with the card.
- Spending AED 200 within the first 7 days of receiving the card entitles you to savings of 10%, up to a maximum of AED 50.
- Easy application and processing – cardholders can receive their cards within 30 minutes of visiting one of 27 Mashreq GO branches.
- Mashreq Flavours, UAE’s most innovative dining program facilitates discounts of up to 50% across 1,800 restaurants in the UAE and 1,300 in Qatar, Oman and India. Cardholders also receive additional savings of 1.25% (for local spends) and 3.25% (for international spends).
- The Mashreq Travel Easy program entitles you to exclusive deals on travel bookings. There is also the facility to convert your purchase into a 0% Easy Payment Plan, and repay the same through easy monthly instalments for up to 12 months with absolutely no interest. This is applicable on any airline to any destination booked through any website or office, worldwide. Cardholders also receive additional savings of 1.25% (for local spends) and 3.25% (for international spends).
- Complimentary travel insurance of up to $200,000 in case of death or permanent total disability, and $100,000 in case of permanent partial disability. Emergency medical expenses incurred as a result of sickness or accidents are also covered up to $60,000.
- Travel insurance also covers trip cancellation, lost baggage and also provides cover of $100 per day for a maximum of 21 days in case of hijacking or terrorism.
- Emergency card replacement anywhere in the world, within 3 to 5 days.
- Emergency cash of up to AED 5,000 will be delivered to a bank near you where you can make a withdrawal.
- Easy insurance claims.
- Savings on education and utility payments of up to 5% once you spend a minimum of AED 3,000 on retail purchases. Savings are capped at AED 500 on education and utility payments together.
The Mashreq SmartSaver Credit Card is one of the best tools to enable savings on everyday expenses. Small savings on a variety of transactions in supermarkets, electronics, retail & fashion, health & wellness, furnishings, stationery, auto rentals, travel, entertainment and convenience stores will eventually pool and become a hefty amount.