RAKBANK Elevate Credit Card
Earn up to 4 RAKrewards per 1 — uncapped
at RAKBANK's secure site
See rates & fees.
Rewards rate
Elevate replaces the annual fee with a monthly one you can spend your way out of — and at the Privilege tier the combination of uncapped 4x earning, 0% bank FX fee and the Viya/Zofeur/Careem lifestyle stack is the strongest perks bundle RAKBANK has ever shipped. Just respect the 20,000 monthly spend it silently assumes, and remember points only pay you back against travel.
Earning and redeeming RAKrewards
Every earns RAKrewards at your tier's rate — 2x on Prime, 3x on Plus, 4x on Privilege — with no monthly cap. The exceptions matter, though: supermarkets and insurance drop to 0.6 per , EEA spends to 0.5, and the usual penalty bucket (government, fuel, bills, transit, real estate, automobiles, exchange houses) to 0.4. Payments through bank channels earn nothing.
Redemption is deliberately travel-shaped: once you have 10,000+ points, you redeem them in the RAKBANK app against flight and hotel transactions from the last 90 days, and the cash lands back on your card within 5 working days. There's no cap on redemptions, and RAKBANK pitches the value at up to 3.2% back on Privilege. Points expire after 36 months.
Rates and fees
- Annual fee
- 0 — Elevate charges a monthly tier fee instead: Prime 49+VAT, Plus 99+VAT, Privilege 199+VAT (the price guide shows 299), each fully waived when you spend 5,000 / 10,000 / 20,000 in the statement cycle. First 3 months free.
- Interest rate
- 3.65% per month (43.8% annually) on retail purchases and cash advances; up to 55 interest-free days when you pay in full.
- Foreign transaction fee
- 0% bank fee on Privilege; 2.57% bank fee on lower tiers per the price guide — plus ~1.15% Mastercard scheme charges on all tiers.
- Cash advance
- 3.31% of the amount, minimum 105; capped at 80% of your card limit.
- Late payment / over-limit
- 241.5 late fee; 299.25 over-limit fee.
- Minimum payment
- 4% of the outstanding balance or 100, whichever is higher.
- Supplementary cards
- Free — all of them.
- Minimum salary
- 35,000/month (self-employed: 600,000 quarterly turnover or 200,000 average quarterly balance).
Figures from RAKBANK's Elevate Key Fact Statement and Service & Price Guide, inclusive of 5% VAT unless marked +VAT. Rates are indicative and can change with 30–60 days' notice.
Card benefits
1,300+ lounges + fast track
Airport lounge access and fast-track passes via the Mastercard Travel Pass app. Activate with USD 1 of FX spend and re-enrol every 3 months.
6 airport rides a year
Complimentary Careem airport pick-ups and drop-offs (allowance varies by tier), plus 2 chauffeured Zofeur rides every month.
Streaming & padel cashback
Up to 200 back per month on video streaming and cashback on up to 4 padel games a month — both credited automatically.
Viya premium pass & VOX
Unlimited beach clubs, pools and gyms via Viya (bring 1 adult + 2 kids), and 50% off 4 VOX cinema tickets a month.
Careem Plus & concierge
12 months of Careem Plus free for primary cardholders, a 24/7 luxury concierge and a dedicated Elevate helpdesk.
Travel cover built in
Medical and travel-delay coverage when you travel, shared with free supplementary cardholders.
Pros and cons
- No annual fee — the monthly tier fee is fully waived when you hit your tier's spend target ( 5k/10k/20k)
- Up to 4 RAKrewards per 1 with no cap on monthly earning
- Zero bank FX fee on the Privilege tier — rare for a UAE card
- Unusually rich lifestyle bundle: Viya premium pass, Zofeur rides, padel and streaming cashback, Careem Plus
- All supplementary cards are free and share lounge access and travel insurance
- 35,000 minimum salary puts it out of reach for most applicants
- Miss your tier's monthly spend target and a monthly fee applies — and the current price guide shows Privilege at 299, above the 199+VAT in the KFS
- 3.65% monthly interest (43.8% a year) is at the expensive end for UAE cards
- Supermarket and insurance spends earn a reduced 0.6 points per ; government, fuel and bill payments just 0.4
- Redemption needs a 10,000-point minimum and only offsets flight and hotel transactions from the last 90 days
Is it right for you?
Get this card if
- You earn 35,000+ and routinely spend 10,000–20,000 a month on the card
- You travel enough to use lounge access, airport rides and travel-only redemptions
- You'll actually use the lifestyle stack — beach clubs, gyms, padel, VOX, Careem Plus
- You want premium perks without a fixed annual fee
Consider skipping it if
- Your spending is irregular — the monthly fee bites in every light month
- You want simple cash back you can redeem anywhere (see the World Cashback card)
- Most of your spend is supermarkets, fuel or bills, which earn 0.4–0.6x
- You ever carry a balance — 3.65% a month is punishing
Alternatives to consider
RAKBANK's World Cashback card pays up to 10% back on travel, supermarkets and dining with a far lower 20,000 salary bar — capped, but simple.
Best cashback cards →
The RAKBANK Red card is the famous free-for-life option — no annual fee, no monthly-fee arithmetic, and a much lower entry bar.
Best no-annual-fee cards →
Emirates NBD's Voyager World earns transferable travel rewards you can push to multiple airlines, instead of Elevate's travel-statement-credit model.
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
Does the RAKBANK Elevate credit card have an annual fee?+
No. Elevate has no annual fee. Instead, each tier has a monthly fee — Prime AED 49+VAT, Plus AED 99+VAT, Privilege AED 199+VAT per the KFS — that is fully waived if you meet the tier's spend requirement (AED 5,000 / 10,000 / 20,000 per statement cycle). The first 3 months are free.
What are the Elevate tiers and can I change mine?+
There are three tiers — Prime, Plus and Privilege — and you can switch anytime in the RAKBANK app. Upgrades reflect within 24 hours; downgrades apply from your next statement cycle. If you use more than one tier in a cycle, the highest tier sets that cycle's spend target and fee.
How many RAKrewards do I earn per dirham?+
2 RAKrewards per AED 1 on Prime, 3 on Plus and 4 on Privilege, with no monthly earning cap. Supermarket and insurance spends earn 0.6 per AED; charities, government, bills, transit, real estate, petrol, automobiles and exchange houses earn 0.4; spends in the European Economic Area earn 0.5.
How do I redeem RAKrewards?+
Through the RAKBANK app or rewards.rakbank.ae (or the Elevate helpdesk on 04 356 9209). You need a minimum of 10,000 RAKrewards, and you redeem them against flight and hotel transactions from the last 90 days — the amount is credited to your card within 5 working days. Points are valid for 36 months.
Does Elevate really have no foreign transaction fees?+
The bank's own FX fee is 0% on the Privilege tier; the Elevate price guide shows 2.57% bank fee for the lower tiers. On top of that, Mastercard's scheme processing charge of about 1.15% of the transaction applies on all tiers.
How does the airport lounge access work?+
You get access to 1,300+ lounges through the Mastercard Travel Pass app. To activate it, spend USD 1 (or the equivalent in any non-AED currency) on the card and enrol in the app at least 72 hours before your lounge visit; you must re-enrol every 3 months.
What salary do I need for the Elevate card?+
A minimum monthly salary of AED 35,000, or for the self-employed a quarterly turnover of AED 600,000 or an average quarterly account balance of AED 200,000. You must be 21+ and a UAE resident, and provide a security cheque matching the card limit.
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.