Top 10 Best Cash Rewards Credit Cards for Maximum Savings in 2024

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In the UAE, managing expenses and maximizing savings is crucial for a financially stable lifestyle. Cash rewards credit cards have become increasingly popular in 2024 as they offer attractive benefits, from cash-back on everyday spending to travel perks.

With so many options available, finding the best cash rewards credit card can be challenging. In this guide, I’ll walk you through the top 10 best cash rewards credit cards in the UAE, highlighting their key features and benefits.

What Are Cash Rewards Credit Cards?

Cash rewards credit cards are a type of credit card that gives you a percentage of your spending back in the form of cash rewards. Essentially, they act as a way for banks to incentivize cardholders to use their credit cards for everyday transactions.

When you use a cash rewards credit card for purchases, a portion of the money spent is credited back to you as a reward, either as a statement credit, direct deposit into your account, or other forms of benefits.

For example, if you have a cash rewards credit card that offers 5% cash-back on grocery spending, every time you make a purchase at the supermarket, 5% of that amount is credited back to your account. Over time, these cash rewards accumulate, helping you save money on various expenses.

The reward rates typically vary depending on the spending category, such as groceries, fuel, dining, or travel. Many cards also offer additional perks like bonuses for hitting a specific spending threshold within the first few months of card ownership.

Types of Cash Rewards

Flat-rate Cash Rewards: Some cards provide a consistent cash-back percentage on all purchases, making them simple and straightforward to use.
Tiered Cash Rewards: These cards offer different cash-back percentages based on spending categories. For example, you might earn 5% on groceries, 3% on fuel, and 1% on all other purchases.
Bonus Cash Rewards: Many cards provide additional cash-back for meeting certain conditions, such as spending a specific amount within the first few months.
Rotating Category Rewards: Some cards offer higher cash-back rates on specific categories that change periodically, such as 5% on dining in one quarter and 5% on travel in another.

The flexibility of these rewards is what makes cash rewards credit cards so appealing. Most cards allow you to redeem your accumulated rewards in various ways, including:

Statement Credits: Applying cash rewards directly to your outstanding balance.
Direct Deposit: Transferring the cash-back to your linked bank account.
Gift Vouchers: Converting rewards into gift cards for shopping, dining, or travel.
Travel Perks: Some cards let you use cash-back to book flights, hotels, or other travel services.

By using these cards strategically, you can effectively reduce your monthly expenses and enjoy additional perks that suit your lifestyle.

Why Should You Choose Cash Rewards Credit Cards for Your Savings?

Cash rewards credit cards can be a smart financial tool when used responsibly. They offer a direct way to save money on everyday purchases, from groceries and fuel to dining and online shopping.

The primary advantage is that they provide a tangible benefit for your spending, allowing you to either reduce your credit card balance or use the rewards for other financial goals.

Moreover, many cash rewards credit cards in the UAE offer exclusive perks tailored to various lifestyles, such as dining discounts, airport lounge access, or travel insurance. This added value enhances your overall experience, making it not just about saving money, but also about enjoying premium services at a lower cost.

Cash-back rewards cards also adapt well to different spending habits, whether you’re a frequent traveler, a shopping enthusiast, or simply looking to save on day-to-day expenses.

What Factors Should You Consider When Selecting the Best Cash Rewards Credit Card in the UAE?

When choosing a cash rewards credit card, it’s crucial to evaluate a few key factors to ensure you get the most out of your card:

Annual Fees: Some cards come with annual fees, which could offset the rewards earned, especially if you don’t spend enough to justify the cost. Opt for a card with low or no annual fees if you’re a moderate spender.
Interest Rates: While rewards are enticing, the interest rates on credit cards can be high. To maximize the benefits, it’s wise to pay off the balance each month to avoid interest charges.
Rewards Categories: Different cards offer varying cash-back rates for different categories. Look for cards that align with your spending habits, such as higher cash-back rates for groceries, dining, travel, or fuel.
Foreign Transaction Fees: If you frequently travel, choosing a card with zero foreign transaction fees can save you a significant amount when spending abroad.
Minimum Spend: Some cards require you to meet a minimum spend to earn rewards or bonuses. Make sure this threshold is achievable within your budget.
Redemption Options: Check how you can redeem your cash-back. Some cards offer flexible redemption, including cash deposits, statement credits, or even converting to travel rewards.

By carefully analyzing these factors, you can select a card that not only offers generous cash rewards but also complements your lifestyle and financial goals.

How Can You Maximise Savings with Cash Rewards Credit Cards?

To maximize savings, use your cash rewards credit cards strategically. Here are some tips to get the most out of your card:

Focus on High Cash-Back Categories: Identify which categories offer the highest cash-back percentage on your card (e.g., groceries, dining, or travel). Use the card mainly for purchases in these categories to maximize your rewards.
Track Promotional Offers: Many cards run limited-time promotions offering bonus cash-back or reward points for spending in specific categories. Keep an eye on these offers and adjust your spending to take advantage of them.
Redeem Rewards Efficiently: Some cards allow you to convert your cash-back into other valuable rewards, such as travel vouchers or gift cards. Assess the available redemption options and choose the one that provides the highest value for your lifestyle.
Combine Cards for Maximum Benefits: If you have more than one cash rewards credit card, use them strategically by spending in the categories where each card offers the best cash-back rate.
Avoid Carrying a Balance: Always try to pay off your balance in full each month. This practice helps you avoid interest charges, ensuring that the rewards you earn are not offset by high-interest payments.

By implementing these strategies, you can maximize your savings while taking full advantage of the benefits your cash rewards credit cards offer.

How Can You Apply for a Cash Rewards Credit Card in the UAE?

Applying for a cash rewards credit card in the UAE is straightforward and typically involves the following steps:

Visit the Bank’s Website or Branch: Most banks offer online application options on their official websites. Alternatively, you can visit a branch to apply in person.
Fill in Your Details: Provide personal information such as your Emirates ID, residency visa (for expats), passport copy, and employment details. Most applications will also require proof of income, such as a salary certificate or bank statements.
Submit Required Documents: Depending on the bank, you may need to submit additional documents, such as recent pay slips or bank statements showing your monthly salary.
Wait for Approval: The bank will review your application and verify your documents. The approval process typically takes a few days. Some banks, like First Abu Dhabi Bank (FAB), offer instant approval for their credit cards.
Activate Your Card: Once approved, you’ll receive your card, which you need to activate before using. This process can often be done via the bank’s app or by contacting customer service.

What Are the Best Tips for Managing Cash Rewards Credit Cards Efficiently?

Managing cash rewards credit cards efficiently is key to maximizing their benefits without falling into debt. Here’s how:

Set Spending Limits: Use your card within a set monthly budget to avoid overspending. This practice not only ensures responsible use but also helps you track your cash-back earnings.
Automate Payments: Set up automatic payments for your credit card to ensure you never miss a due date, which could result in late fees or interest charges.
Regularly Monitor Rewards: Keep track of your cash rewards through your bank’s mobile app or website. Make sure to redeem rewards periodically to maximize their value and avoid expiration.

What Common Mistakes Should You Avoid with Cash Rewards Credit Cards?

When using cash rewards credit cards, be cautious of these common pitfalls:

Ignoring Fees: Always factor in the card’s annual fees and any potential charges, such as foreign transaction fees, which can eat into your cash-back savings.
Carrying a Balance: High-interest rates on credit cards can negate the value of your rewards. Aim to pay off your balance in full each month to avoid interest charges.
Overlooking Terms and Conditions: Each card comes with specific rules about earning and redeeming cash-back. Read the fine print to understand any limitations, such as caps on cash-back or minimum spend requirements.

How Can You Use Cash Rewards Credit Cards Responsibly?

Responsible use of cash rewards credit cards involves careful planning and smart spending. Here are some tips to ensure you’re using your card to your best advantage:

Pay Off Your Balance Monthly: Avoid carrying a balance to prevent paying high-interest rates, which can offset your cash-back rewards.
Limit Unnecessary Purchases: While it may be tempting to spend more to earn more rewards, focus on using the card for necessary purchases that align with your budget.
Stay Within Your Credit Limit: Exceeding your credit limit can lead to fees and impact your credit score. Always keep track of your spending and make timely payments.

Top 10 Best Cash Rewards Credit Cards in the UAE for 2024

1. FAB Cashback Credit Card – First Abu Dhabi Bank (FAB)

Minimum Salary: AED 5,000
Interest Rate: 3.85%
Annual Fee: AED 300
Key Benefits: 5% cashback on supermarket, dining, and grocery; 3% cashback on non-AED spending; balance transfer; airport lounge access.
Top Reasons to Choose: Zero paperwork for instant approval, making it a convenient choice for those looking for quick access to rewards.

2. HSBC Cashback Credit Card

Minimum Salary: AED 5,000
Interest Rate: 3.69%
Annual Fee: AED 313
Key Benefits: Up to 5% cashback; ‘Buy 1 Get 1 Free’ tickets at Vox Cinemas; 15% off one Amazon purchase monthly; no annual fee for the first year.
Top Reasons to Choose: Ideal for movie enthusiasts and online shoppers due to its cinema offers and Amazon discounts.

3. Citi Cashback Credit Card

Minimum Salary: AED 8,000
Interest Rate: 3.5%
Annual Fee: AED 0
Key Benefits: No caps, no minimum spend, unlimited lounge access; 3% cashback on non-AED spend, 2% on groceries, 1% on all other purchases.
Top Reasons to Choose: Perfect for frequent travelers with its airport lounge access and no annual fee (subject to spending).

4. Emirates NBD Duo Credit Card

Minimum Salary: AED 12,000
Interest Rate: 3.49%
Annual Fee: AED 0
Key Benefits: Dual card offering (Diners Club and Mastercard); unlimited complimentary airport lounge access; 5% cashback on groceries, electronics, utilities, education, and fuel.
Top Reasons to Choose: Exclusive for Abu Dhabi residents, with complimentary access to top UAE golf courses.

5. FAB Cashback Islamic Credit Card (for Expats)

Minimum Salary: AED 5,000
Interest Rate: 3.50%
Annual Fee: AED 315
Key Benefits: Up to 5% cashback on regular spends; bonus cashback of AED 250; extensive Mastercard travel benefits.
Top Reasons to Choose: Offers bonus cashback and complimentary airport lounge access for frequent travelers.

6. Emirates Islamic Switch Cashback Credit Card

Minimum Salary: AED 10,000
Interest Rate: 3.69%
Annual Fee: AED 314
Key Benefits: Up to 8% cashback; unlimited complimentary airport lounge access; purchase protection, extended warranty.
Top Reasons to Choose: The flexibility to switch between lifestyle or travel categories monthly and enjoy complimentary golf rounds.

7. United Arab Bank Titanium Credit Card

Minimum Salary: AED 5,000
Interest Rate: 3.19%
Annual Fee: AED 5,000
Key Benefits: Complimentary airport lounge access; 10% cashback on Booking.com; 20% off 3 Careem rides monthly.
Top Reasons to Choose: No monthly caps on cashback, making it an excellent option for frequent travelers.

8. CBD Visa Platinum Card

Minimum Salary: AED 5,000
Interest Rate: 3.85%
Annual Fee: AED 0
Key Benefits: Free for life; 0% balance transfer for 12 months; 50% discount on Novo cinema tickets.
Top Reasons to Choose: Purchase protection and extended warranty, ideal for those who make significant purchases.

9. ADCB 365 Cashback Credit Card

Minimum Salary: AED 8,000
Interest Rate: 3.69%
Annual Fee: AED 383
Key Benefits: 5% cashback on groceries; monthly cashback up to AED 1,000; ‘Buy 1 Get 1 Free’ movie tickets at VOX Cinemas.
Top Reasons to Choose: Comes with a welcome bonus of AED 365, making it a great start for those looking for immediate rewards.

10. Emirates NBD Visa Platinum Credit Card

Minimum Salary: AED 12,000
Interest Rate: 3.25%
Annual Fee: AED 0
Key Benefits: Earn rewards on all domestic and international spends; flexible payment options; discounts on flights and holiday packages.
Top Reasons to Choose: Lifetime free card that comes with a complimentary AED 300 Noon.com voucher, offering flexibility and various lifestyle benefits for frequent shoppers and travelers.

How Do Cash Rewards Credit Cards Compare at a Glance?

Here’s a quick comparison of the top 10 cash rewards credit cards in the UAE for 2024:

Credit Card	Cash-Back Rate	Annual Fee	Interest Rate	Special Perks
FAB Cashback Credit Card	Up to 5%	AED 300	3.85%	Dining, supermarket, lounge access
HSBC Cashback Credit Card	Up to 5%	AED 313	3.69%	Cinema offers, Amazon discount
Citi Cashback Credit Card	1%-3%	AED 0	3.5%	No caps, lounge access
Emirates NBD Duo Credit Card	5%	AED 0	3.49%	Dual card, airport access
FAB Cashback Islamic Credit Card	Up to 5%	AED 315	3.50%	Bonus cashback, travel benefits
Emirates Islamic Switch Credit Card	Up to 8%	AED 314	3.69%	Switch between lifestyle & travel perks
United Arab Bank Titanium Card	10% on Booking.com	AED 5,000	3.19%	Complimentary lounge access
CBD Visa Platinum Card	Variable	AED 0	3.85%	Free for life, cinema discounts
ADCB 365 Cashback Credit Card	Up to 5%	AED 383	3.69%	Welcome bonus, VOX Cinemas offers
Emirates NBD Visa Platinum Card	Variable	AED 0	3.25%	Lifetime free, Noon.com voucher

Conclusion

Cash rewards credit cards offer a versatile and practical way to save on your everyday expenses while enjoying added perks such as dining discounts, travel benefits, and cinema tickets. By understanding the various cash rewards credit card options in the UAE and choosing one that aligns with your spending habits and lifestyle, you can maximize your savings in 2024.

Always remember to use these cards responsibly to avoid debt while reaping the benefits of cash-back rewards.