Finding a credit card that caters to individuals with a lower salary can be challenging, but RAKBANK has introduced a solution tailored specifically for this group. The RAKBANK Low Salary Credit Card offers plenty of benefits to those earning a salary of AED 5000 or less, allowing cardholders to enjoy various perks without being burdened by high fees or stringent requirements.
In this article, we will explore the specific features and benefits of the RAKBANK Low Salary Credit Card, including detailed cashback offers, flexible payment options, and how to apply.
Top 5 Banks Offering Credit Cards for Salaries Up to AED 5000 in the UAE
Key Features of the RAKBANK Low Salary Credit Card
The RAKBANK Low Salary Credit Card is designed with simplicity and accessibility in mind, offering features that make it easy for low-income earners to manage their finances while enjoying valuable benefits. Here are some of the standout features:
1. Low Minimum Salary Requirement
RAKBANK makes this credit card accessible to a wider audience by setting a minimum salary requirement of just AED 5000. This makes it one of the best options for individuals with modest incomes looking for a credit card that can help them manage expenses and build their credit history.
2. No Annual Fees
One of the significant advantages of the RAKBANK Low Salary Credit Card is that it comes with no annual fees. Cardholders can enjoy the benefits of using this card without worrying about extra charges at the end of the year, making it ideal for those on a tight budget.
3. Flexible Payment Options
RAKBANK offers flexible payment plans for this credit card, allowing cardholders to pay off their balances over time. With affordable minimum payments, cardholders have the option to pay just 5% of the outstanding balance each month, ensuring they can manage their finances without added stress.
4. Free Access to Airport Lounges
Despite being tailored for low-income earners, the RAKBANK Low Salary Credit Card comes with premium perks, such as free access to select airport lounges. This feature is a great value-add for travelers, especially those looking to enjoy some comfort during their trips without extra costs.
Detailed Cashback Offers
One of the main highlights of the RAKBANK Low Salary Credit Card is its attractive cashback offers, which help cardholders save money on everyday purchases. Here’s a closer look at how you can benefit from cashback rewards:
1. Cashback on Supermarket Purchases
Cardholders can earn up to 5% cashback on supermarket purchases made with their RAKBANK Low Salary Credit Card. This is particularly beneficial for individuals who rely on their card for daily essentials, as it can add up to significant savings over time.
2. Fuel Cashback
RAKBANK rewards its credit cardholders with up to 2% cashback on fuel purchases at any gas station in the UAE. For those who drive regularly, this cashback offer can provide substantial savings on monthly fuel costs.
3. Dining and Entertainment
Whether you enjoy dining out or watching movies, the RAKBANK Low Salary Credit Card offers cashback on dining and entertainment purchases, helping you save money while enjoying your leisure activities.
4. Online Shopping Discounts
For those who shop online, the RAKBANK Low Salary Credit Card also offers cashback on online purchases from selected retailers, making it easier to save while shopping from the comfort of your home.
Payment Flexibility and Interest-Free Installment Plans
RAKBANK understands that flexibility is essential when it comes to managing credit card payments, especially for low-income earners. To help cardholders stay on top of their finances, the RAKBANK Low Salary Credit Card offers several flexible payment options.
1. Flexible Minimum Payments
Cardholders can choose to make the minimum payment of 5% of the total outstanding balance each month, allowing them to avoid late fees and manage their payments in a way that fits their budget.
2. Interest-Free Installment Plans
RAKBANK also provides interest-free installment plans for big-ticket purchases. Cardholders can convert their large transactions into affordable monthly payments without paying interest for a fixed period, often up to 12 months. This feature is particularly useful for purchasing expensive items like electronics, furniture, or airline tickets.
3. Low Interest Rates
Compared to other credit cards in the same category, the RAKBANK Low Salary Credit Card offers competitive interest rates, ensuring that cardholders aren’t burdened by high finance charges if they carry a balance.
How to Apply for the RAKBANK Low Salary Credit Card
Applying for the RAKBANK Low Salary Credit Card is a straightforward process. Here’s a step-by-step guide to help you through the application:
1. Check Eligibility Requirements
- Minimum salary of AED 5000
- Age requirement: 21 years or older
- Valid Emirates ID and passport
- Proof of employment and income (salary certificate or bank statements)
2. Submit an Online Application
You can apply for the RAKBANK Low Salary Credit Card by visiting the RAKBANK website and filling out an online application form. Make sure to provide accurate details, including your employment information and salary.
3. Visit a RAKBANK Branch
If you prefer to apply in person, you can visit any RAKBANK branch with the necessary documents, including your Emirates ID, passport, and proof of income. A representative will guide you through the process.
4. Approval Process
Once your application is submitted, RAKBANK will review your documents and verify your eligibility. Approval is typically quick, and you can expect to receive your credit card within a few days after approval.
Conclusion
The RAKBANK Low Salary Credit Card is a fantastic option for individuals with a modest income, offering a range of benefits typically reserved for higher-tier cards. From cashback rewards to flexible payment plans and interest-free installment options, this card provides a practical yet rewarding financial tool for managing everyday expenses.
If you’re earning a salary of AED 5000 or less and looking for a credit card that offers value without high fees, the RAKBANK Low Salary Credit Card is definitely worth considering.
