With over 2.8 million credit cards in circulation and a market value of more than $12 billion in yearly credit card transactions, understanding the UAE's financial landscape is critical for both residents and business owners, especially when selecting the right credit card.
The financial sector in the UAE continues to evolve, with over 9.89 million credit cards issued to date. These cards offer more than just convenience – they provide personalised benefits such as cashback, travel rewards, and premium lifestyle privileges, that are targeted to the demands of both residents and expats.
Credit card usage is predicted to rise, due to the growth of e-commerce and higher consumer spending on online platforms. Credit cards remain a convenient and secure means for both in-store and digital payments. This article will guide you through the Top 5 Credit Cards in the UAE, ensuring that no matter your spending habits or preferences, there is a card to suit your financial situation.
Emirates NBD U By Emaar Family Credit Card
For UAE residents who frequently spend at Emaar properties, the Emirates NBD U By Emaar Family Credit Card is an excellent choice. This card allows you to earn points while shopping, dining, or visiting numerous entertainment venues in Emaar's broad portfolio, such as The Dubai Mall, Burj Khalifa, and Dubai Opera.
Key features:
Earn Upoints: 1 Upoint for every AED 1 spent across participating Emaar brands.
Discounts and Offers: Up to 10% discount on meals at Emaar Hospitality Group restaurants.
Airport Lounge Access: Complimentary access to over 25 lounges across the Middle East.
Annual Fee: AED 700, which can be waived based on the spend threshold.
This card is suitable for UAE residents who frequently engage in premium lifestyle activities, as it enables them to earn rewards and receive discounts within the Emaar ecosystem.
FAB (First Abu Dhabi Bank) Platinum Credit Card
The FAB Platinum Credit Card is perfect for individuals wishing to earn Etihad Guest Miles or FAB Rewards. With low fees and generous spending rewards, it's a great option for regular travellers and shoppers.
Key features:
Etihad Guest Miles: Earn 1 mile per AED 4 spent on domestic purchases, and 1 mile per AED 3 spent internationally.
Cinema Offers: Get 50% off on movie tickets at VOX Cinemas in the UAE.
Lifestyle Benefits: Complimentary access to airport lounges and discounts on dining and shopping at participating outlets.
Annual Fee: AED 500, which can be offset if you meet the minimum spending requirements.
This card is designed for frequent flyers who are looking to quickly accrue air miles while also receiving lifestyle benefits and discounts.
Mashreq Cashback Credit Card
The Mashreq Cashback Credit Card is one of the best cashback cards available in the UAE, with high cashback earnings on common purchases like groceries, fuel, and restaurants.
Key features:
5% cashback on groceries
2% cashback on dining
1% cashback on all other purchases (no minimum spend required)
2% cashback on fuel at all stations across the UAE
Annual Fee: AED 350 is eliminated for the first year if spending exceeds AED 10,000.
The Mashreq Cashback Card is ideal for those wishing to save money on regular, everyday purchases.
Citibank Citi Prestige Credit Card
The Citi Prestige Credit Card is intended for high-end customers who want special features including travel bonuses, concierge services, and priority treatment at hotels and airports. It is among the most comprehensive travel credit cards in the UAE.
Key features:
Airport Lounge Access: Complimentary access to over 1,000 Priority Pass lounges globally.
Travel Insurance: Complete coverage for travel-related issues such as trip cancellations or lost luggage.
Global Concierge Services: 24/7 assistance for dining reservations, event tickets, and travel arrangements.
Annual Fee: AED 1,500, which is justified by the extensive premium benefits it offers.
The Citi Prestige Card is excellent for frequent travellers who require a card that offers global benefits and concierge services.
HSBC Black Credit Card
The HSBC Black Credit Card provides a winning combination of travel rewards and luxury lifestyle advantages. With an extensive list of benefits, it is the ideal option for high-net-worth individuals who are regular travellers.
Key features:
Air Miles: Earn Air Miles for every AED spent, with no minimum spend required, which can be redeemed for flights, upgrades, and hotel stays.
Travel Benefits: Complimentary travel insurance and access to over 1,000 airport lounges worldwide.
Luxury Rewards: Discounts at luxury hotels, restaurants, and access to special events.
Annual Fee: AED 1,500, with the ability to waive or offset based on spending.
The HSBC Black Card is the preferred choice for people who value premium travel privileges and luxury amenities while maintaining a high level of spending.
Choosing the right credit card in the UAE is a decision that goes beyond simple convenience – it is a strategic choice that corresponds with your financial habits and long-term goals. The cards listed above represent a wide range of options available, from rewarding basic expenses to providing luxury travel rewards. Whether you want to maximise cashback with the Mashreq Cashback Credit Card, enjoy worldwide benefits with the Citi Prestige Credit Card, or leverage frequent flyer miles with the FAB Platinum Credit Card, there's an option for every lifestyle.
As the UAE's financial landscape evolves, these credit cards not only give value but also enrich the banking experience by providing access to exclusive incentives and tailored services. Selecting a credit card is an important tool in optimising your financial journey, allowing you to achieve more, spend smarter, and enjoy premium benefits that align with your objectives.
