Majority UAE residents consider cashback an important credit card feature

A study conducted by Citi and Publicis Media has revealed 67 percent of residents in the UAE consider cashback to be one of the most important features of a credit card.

In response to the survey’s findings, Citi UAE recently launched the Citi Cashback Credit Card, which addresses client preferences by providing unlimited, automatic cashback on all spend, giving customers three per cent cashback on international spend; two per cent cashback on groceries; and one per cent cashback on all other spend. Consumers will also receive 20 per cent dining discounts at select restaurants throughout the UAE.

With no caps and no minimum spend hurdles, the card offers some of the most comprehensive cashback rates in a single credit card in the UAE. Additional benefits include unlimited complimentary access to 850+ airport lounges worldwide and a fee-free first year, after which the card remains free when a customer spends AED 9,000 or more per year.

Dinesh Sharma, Citi Middle East Head of Consumer Bank said that the Citi Cashback Credit Card highlights the bank’s steadfast commitment to its clients—it includes a host of advantages including automatic cashback with no caps and no minimum spend which were highlighted as important to UAE residents in the bank’s latest report. “Our latest offering is tailored to the needs of our customers, ensuring they receive the benefits that are most important to them.”

Sharma added that customers have different needs but one thing they share in common is their preference for attractive rewards, simplicity, and convenience when choosing a credit card.

The key takeaway of the survey commissioned by Citi UAE was that current cashback reward schemes are complicated with respondents pinpointing lengthy terms and conditions including caps on cashback amounts and minimum spend hurdles to qualify for cashback.