Credit cards are a liability if you have them, although they may provide you with cash at the end of the month you need to pay the bank. Isn’t it too much that you pay your credit card bills with their interest, and on top of it, the bank charges you with an annual fee? There are credit cards that have no annual fee and give the same benefits as the credit cards with a yearly fee, and these cards should be on your radar.
1- Emirates Islamic Flex Card
Emirates bank offers a flex card, which comes with a lot of benefits. The card offers a balance transfer facility but no cashback facilities. The bank charges no annual or monthly fee. The rate charged is 2.35%, and the foreign exchange rate is 2.34%. The minimum salary requirement is AED 5,000.
The card is excellent for Unlimited Complimentary Golf, Low minimum salary requirement, and Travelcard with EI Smart Miles.
The card offers the following features;
- Welcome bonus of 10,000 EI Smart Miles
- Instant EI Smart Miles redemption at over 300 airlines and more than 180,000 hotels worldwide
- Convenient shopping anytime, anywhere with “Instant Purchase” redemption feature
- Miles exchange with frequent flyer programs Etihad Guest and Jet Privilege
- Online shopping marketplace.
- This is an Islamic card
- There is a repayment period of 55 days, and the minimum payment for each month is 5% of the outstanding amount.
- The foreign currency rate applicable to overseas transactions is 2.34%. This fee is charged in addition to the standard processing fee (approximately 1.15%) charged by MasterCard International or Visa International and applies to transactions performed outside the UAE.
- Earn EI Smart Miles on all your domestic and international spends.
- For every AED 1 spent locally, earn 1.25 EI Smart Miles. For every AED 1 spent internationally, earn 2.25 EI Smart Miles. Redeem at over 300 airlines and 180,000 hotels, car rentals. EI Smart Miles can be exchanged for frequent flyer programs such as Etihad Guest and Jet Privilege. You can also use your EI Smart Miles to shop with the ‘Instant Purchase’ feature.
- The balance transfer facility is available at 0% for six months, with a 2% processing fee. There is a 5% minimum payment required every month.
- No cashback is rewarded for this card.
2- HSBC Platinum Select Premium Credit Card
The card offers a balance transfer facility but no cashback facilities. The bank charges no annual or monthly fee. The rate charged is 3.25%, and the foreign exchange rate is 2%. The minimum salary requirement is AED 5,000.
The card is excellent for free Cinema Tickets, it has no Annual Fees, and you get 50% Cash Advance.
The card comes with the following features;
- ‘Buy 1 Get 1 Free’ mobile app with over 8,000 offers across 15 countries
- Get up to 50% of your available credit limit as cash advance
- Make purchases and pay in easy monthly installments at 0% interest
- No Annual Fee
- Discounts on Dine and Fly Programmes
- Enjoy discounts of up to 12% with Agoda
- Buy 1 Get 1 Free tickets at VOX Cinemas.
- Free HSBC Entertainer Mobile App with ‘Buy 1 Get 1 Free’ offers across 15 countries.
- Up to 56 days of interest-free period and a minimum payment of 5%
- Earn 1 Air Mile for every AED 4 spent. Redeem Air Miles for airline tickets, hotel stays, and e-vouchers, which can be used against the purchase of electronics, groceries, jewelry, fashion, and much more. Air miles terms and conditions apply.
- 1 Air Mile for every AED 4 spent. Redeem Air Miles for airline tickets, travel accommodation, shopping vouchers, electronics, entertainment, or donations to charity. Flights with any airlines at any time to any destination. Air miles terms and conditions apply.
- No Cashback is rewarded for this card
- Balance transfer at 0% interest. Applicable transfer fees ranging from 1.5%-6% for 6, 12 or 24 months or AED 100 whichever is higher
3- ADCB Lulu Standard Card
The card offers a balance transfer facility but no cashback facilities. The bank charges no annual or monthly fee. The rate charged is 3.25%, and the foreign exchange rate is 2.99%. The minimum salary requirement is AED 5,000.
The card is excellent for its low-interest installment payment plan at selected merchants; Lulu points for redeemable at Lulu Supermarket and discounts of up to 15% at Yas Waterworld, Ferrari World & Warner Brothers World.
The card has the following features;
- Various discounts up to 15% at Yas Water World, Ferrari World, and Warner Brother Word, including complimentary Quick Pass.
- Choose from hundreds of ‘Buy-1 Get-1 Free’ complimentary offers throughout the Middle East & Africa across fine dining establishments and premium spas
- Convenience to pay as little as 5% of your outstanding balance each month, and carry forward the balance to the next billing cycle
- 25 days of interest-free period and a minimum payment of 5% or 100 AED whichever is higher
- 1.5 Lulu points for every AED 1 spent inside in the Lulu hypermarket Emirates General and Al Falah stores in UAE; 0.5 Lulu points for every AED 1 spent anywhere else inside or outside UAE subject to a minimum spend of AED 1000 per month. If minimum spend is less than AED 1000 per month, you will earn 0.5 Lulu points for every 1 AED spend anywhere.
- No miles program on this card
- No cashback is rewarded for this card
- Balance Transfer fee up to 1.5% per month
4- ADIB Value + Card
The card offers a balance transfer facility but no cashback facilities. The bank charges no annual or monthly fee. The rate charged is 3.09%, and the foreign exchange rate is 3.1%. The minimum salary requirement is AED 5,000.
The card offers features like;
- Get rewarded for your local and international spend
- Access to airport lounges across the GCC
- Get facilities such as 24/7 emergency roadside assistance
- This is an Islamic Card
- This is subject to the bank’s approval. Terms & conditions apply.
- Free grace period up to 55 days to repay your outstanding balance. The profit rate is 3.09% per month.
- There is no annual fee on this card
- Earn one reward point for 1 AED on domestic spend & 2 reward points for every 1 AED on international spend. Redeem reward points for flight tickets or shopping mall vouchers. Redeem 10,000 points for AED 50 and 100,000 points for AED 1000.
- ADIB Reward Points can be redeemed for airline tickets.
- No cashback is rewarded for this card
- A Balance transfer fee of up to 3% or AED 200 will apply; No profit up to 12 months. T&Cs applies
5- Mashreq Smart Saver Card
The card offers a balance transfer facility and cashback facilities. The bank charges no annual or monthly fee. The rate charged is 3.45%, and the foreign exchange rate is 2.79%. The minimum salary requirement is AED 10,000. The card is excellent for cashback on all spends.
The card comes with these features;
- Up to 30% discount when you dine at any of over 2000+ Mashreq Flavors participating local and international restaurants
- 0% Easy Payment Plan-Covert your purchases into convenient payment plans at 1000+ outlets and 100+ partner brands within the UAE
- Complimentary Travel Insurance
- Up to 55 days interest-free period
- There is no annual fee on this card
- Get 0.5% cashback on local purchases and 1% on international purchases. Plus get up to 8% Cashback at over 450+ outlets in the UAE
- No miles program on this card
- The Balance Transfer fee of 1.39% monthly is applicable
- Get 0.5% cashback on local purchases and 1% on international purchases. Plus, get up to 8% Cashback at over 450+ outlets in the UAE.