Ajman Bank ULTRACASH Mastercard
Pick two categories, earn up to 10% cashback where you actually spend
at Ajman Bank's secure site
See rates & fees.
Cashback rate
ULTRACASH gets one big thing right: it lets you aim 5% cashback at the two categories that dominate your budget — fuel, groceries, online or school fees. What it gets wrong is transparency: no published caps, no fee waiver, and a 3.67% hit on anything in foreign currency. Read the reward program terms before you count your cashback.
Earning cashback with ULTRACASH
The mechanic is simple: choose 2 of 4 preferred categories — fuel, online shopping, supermarkets or school fees — and earn 5% cashback on them. UAE Nationals get a sweetener of 10% on fuel for the first 3 months, dropping to 5% after. Every other purchase earns a flat 1%.
What the bank doesn't publish matters just as much: the card page states no monthly caps, no minimum spend, and no payout mechanics for the cashback. Before building your spending around this card, get the ULTRACASH Reward Program terms and confirm the caps — uncapped 5% on school fees would be exceptional for the UAE market, which is exactly why we wouldn't assume it.
Rates and fees
- Annual fee
- 500 for UAE Nationals, 300 for expatriates — not waived, exclusive of 5% VAT.
- Murabaha profit rate
- 42% per annum fixed (about 3.5% a month), applied when you don't pay the total outstanding in full.
- Foreign-currency fee
- 3.67% of the transaction value, in addition to the standard Mastercard scheme processing fee.
- Cash advance
- 150 per transaction, applied per transaction up to 5,000.
- Late payment
- 125 commitment-to-donate amount — goes to charity under Shariah-committee supervision, not to the bank.
- Supplementary cards
- First 2 free, then 50 per card per year.
- Card replacement
- 75 per request.
Fees are from the Ajman Bank credit card Key Facts Statement (May 2025) and are exclusive of 5% VAT.
Card benefits
Choose your 5% categories
Pick 2 of 4 everyday categories — fuel, online shopping, supermarkets or school fees — and earn 5% where you spend most.
Welcome cashback
One retail transaction in the first 30 days earns bonus cashback on fee payment: 500 for UAE Nationals, 300 for expatriates.
Valet parking 3x a month
Free valet parking three times a month at more than 35 locations across the UAE.
Mastercard Touch Card
The world's first Touch Card: a notched, accessible design that helps people with sight loss identify their card by feel.
Secure and digital-first
Apple Pay, Samsung Pay, contactless payments, 3D Secure online shopping and chip-and-PIN security.
Flexible financing
Balance transfer at promotional rates, Easy Cash at low profit rates, and 0% installment plans at preferred partners.
Pros and cons
- You pick your two 5% categories: fuel, online shopping, supermarkets or school fees
- Welcome cashback ( 500 nationals / 300 expats) effectively refunds the annual fee in year one
- Accessible Touch Card design with a notch to identify the card by feel
- Valet parking 3 times a month, free supplementary cards and 0% installment plans
- Shariah compliant — Murabaha structure, late fee goes to charity
- Cashback caps and minimum-spend rules are not published on the card page
- Annual fee ( 300 expats / 500 nationals + VAT) is not waived
- High 3.67% foreign-currency processing fee, plus the scheme's own fee
- No airport lounge access advertised
- UAE Nationals and expatriates get different fees, bonuses and fuel rates
Is it right for you?
Get this card if
- Your monthly budget is dominated by fuel, supermarkets, online shopping or school fees
- You want a Shariah-compliant cashback card and will use the welcome cashback to offset the fee
- The Touch Card's accessible design matters to you or a family member
Consider skipping it if
- You want published caps and predictable cashback math before you commit
- You spend abroad often — 3.67% plus scheme fees is one of the pricier FX rates around
- You want lounge access or a fee-free card — Ajman Bank's LIFE Platinum is free for life
Alternatives to consider
Ajman Bank's LIFE Platinum is free for life and adds unlimited lounge access — with smaller, fixed cashback categories.
Best no-annual-fee cards →
ADIB's Cashback Gold is a rival Shariah-compliant cashback card from the UAE's largest Islamic bank.
Best Islamic credit cards →
BRight Platinum charges 0% foreign-currency processing fee versus ULTRACASH's 3.67%, and earns BRight travel rewards on all spends.
Best travel cards →Not sure which way to go? Put them side by side in our card comparison tool or browse the full ranked list.
Frequently asked questions
How do the ULTRACASH cashback categories work?+
You select 2 of 4 everyday categories — fuel, online shopping, supermarkets or school fees — and earn 5% cashback on them (UAE Nationals earn 10% on fuel for the first 3 months, then 5%). Everything else earns 1%.
What is the ULTRACASH annual fee?+
AED 500 for UAE Nationals and AED 300 for expatriates, exclusive of 5% VAT, per the bank's Key Facts Statement (May 2025).
Is there a welcome bonus?+
Yes — make one retail transaction within the first 30 days of card issuance and you receive bonus cashback upon payment of the annual fee: AED 500 for UAE Nationals, AED 300 for expatriates. That effectively refunds your first-year fee.
Is there a cap on ULTRACASH cashback?+
The bank's card page does not publish cashback caps or a minimum-spend requirement. Check the ULTRACASH Reward Program terms and conditions before applying if caps matter to you.
What is the minimum salary for the ULTRACASH card?+
You need a minimum monthly salary of AED 10,000 to apply.
What is a Mastercard Touch Card?+
ULTRACASH is billed as the world's first Mastercard Touch Card — an accessible card design with a physical notch that helps people with sight loss or partial vision identify their card by touch.
Is the ULTRACASH card Shariah compliant?+
Yes. It is structured under the Islamic principle of Murabaha with a fixed annual profit rate of 42% applied only if you don't pay in full, and the AED 125 late-payment amount is a commitment to donate that goes to charity under the Internal Shariah Supervision Committee.
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank or card issuer, and have not been reviewed, approved or otherwise endorsed by any of these entities.