About Invest Bank Credit Cards (Eligibility & charges)

1. What is the Mastercard World/Platinum Cashback Credit Card?

The Mastercard World/Platinum Cashback Credit Card is a credit card offering that allows eligible cardholders to earn Cashback rewards on qualifying purchases.

2. What is the eligibility to apply for an Invest Bank Cashback Credit Card?

3. What are the fees applicable for Invest Bank Mastercard Cashback Credit Card?

World card annual fee: AED 1,500 from first year onwards.
Platinum card annual fee: Free for the first year; AED 500 from second year onwards.

4. What are the channels available for me to apply for an Invest Bank Mastercard Cashback Credit Cards?

Visit Bank’s website www.investbank.ae and fill in the digital form
Visit any of the IB Branches and apply for the card
Or call our Client Experience Department on 600 5444 04

5. What are the documents required to apply for an Invest Bank Mastercard Cashback Credit Cards?

6. Can I apply for the Invest Bank Mastercard Cashback Credit Card against a fixed deposit?

Yes, you may, please visit your nearest branch for onward processing of the application

7. How long it will take to receive an Invest Bank Mastercard Cashback Credit Cards?

Upon successful submission of all the documents, you will receive your credit card between three to seven working days.

8. I have already submitted a Mastercard Cashback Credit Card application, how can I check the status?

You may check the status of your application by calling our Client Experience team at 600 5444-04 or emailing us at wecare@investbank.ae

9. Can I apply for a supplementary card and if possible how much it will be charged?

Supplementary Card: Free up to 3 cards, AED 300 per card (for World) and AED 100 per card (for Platinum) hereafter.

10. I have a Mastercard Cashback Credit Card with Invest Bank. It is going to expire?

Yes, the expiry date is mentioned on the back of your card in MM/YY format.

11. When can I receive the Renewal credit card?

30 calendar days prior to the existing card expiry, i.e. if the existing card expiry is 10/2023 (which mean 31st October 2023) the renewed card will be available for delivery in the last week of September 2023.

12. How can I check the outstanding balance of my credit card?

13. How can I calculate the minimum payment of my Cashback Credit Card?

The minimum payment due is 5% of the billed amount or AED 100/- whichever is higher. The minimum amount due in AED value is mentioned in your Card Statement. The minimum payment due must be made within 25 days from the card statement date to avoid penal charges/fees.

14. How many days grace period receive for interest free on my purchases?

25 to 55 days from the Credit card Transaction date, subject to full payment of the Total Amount Due by the Payment Due Date. Any previous month’s balance not paid in full, or if a Cash Advance or any other interest- bearing card service is taken on the card, then the Interest Free period does not apply.

15. How can I know the due date of my credit card?

You will have 25 days to make a minimum payment on the outstanding of your Mastercard Platinum Cashback Credit Card from the date of statement generation. Additionally, your due date will be mentioned on the monthly statement and even in your monthly statement SMS.

16. What are the channels available for me to settle the due amounts?

You can pay the outstanding amount on your Platinum or World Cashback Credit Card by visiting any our branches or directly transferring the funds from your existing bank account or you can visit Al Ansari Exchange house and do the payment.

17. I don’t have an Invest Bank Account can I settle my card payments without an account

You can directly transfer funds from your other UAE bank account by adding the Invest bank credit card in the ‘Pay Card’ category via FTS.

18. How can I generate a PIN for my Mastercard World or Platinum Cashback Credit Card?

You can set or reset your card PIN by registering in to Invest bank WhatsApp banking via 056 9943777 and following the steps

19. Can I withdraw cash from my Mastercard World or Platinum Cashback Credit Card?

Yes, you can visit your nearest ATM to withdraw cash. You can withdraw up to 75% of your available card limit.

20. Will I be charged for making international transactions?

Transactions made on any currency other than ‘AED’ will attract cross-border transaction fees as mentioned in the Schedule of Charges.

21. How can I increase or decrease my credit card limit?

By calling our Client Experience team at 600 5444-04 or emailing us at wecare@investbank.ae

22. If I lost my credit card what should I do?

Call our Client Experience team at 600 5444-04.

23. I have a dispute of my transaction, what should I do?

Call our Client Experience team at 600 5444-04 or emailing us at wecare@investbank.ae

24. If I have any other question where should I contact

Call our Client Experience team at 600 5444-04 or emailing us at wecare@investbank.ae

Rewards, Loyalty & Benefits

1. How does the Cashback program work?

The Cashback program enables cardholders to earn a percentage of their eligible transaction amount as Cashback rewards. The Cashback rewards are credited to the cardholder’s card account in the upcoming monthly cycle statement.

2. What are qualifying purchases for earning Cashback rewards?

All domestic and international transactions will be considered as qualifying purchases. However, certain transactions like cash advances, balance transfers, fees, and interest charges are not eligible for cashback rewards. For more details, please refer to Cashback Credit Card Terms & Conditions.

3. How can I earn Cashback reward?

The specific Cashback percentage and calculation methodology will be clearly outlined in the cardholder agreement or promotional materials. The amount of Cashback you can earn will depend on your eligible transactions and the cashback percentage associated with your card.

4. How much Cashback can I earn?

You can earn a flat 3% cashback on all domestic and international transactions, limited to a monthly Dirham value of 1,500/- on the World Credit card and 1,000/- Dirham monthly on the Platinum Credit card.

5. How and when will I receive my Cashback rewards?

Cashback rewards will be automatically credited to the primary cardholder account on the upcoming monthly statement cycle basis.

6. Are there any limits on earning or redeeming Cashback rewards?

The maximum cashback that a cardholder can earn on a monthly basis on the World Credit Card is AED 1,500/- and on Mastercard Platinum Credit Card is AED 1,000/-

7. How can I redeem my Cashback rewards?

The earned Cashback will be automatically credited in the upcoming monthly statement cycle.

8. Can I transfer or share my Cashback rewards with others?

Cashback rewards are non-transferable and can only be used by the cardholder. Sharing or transferring cashback rewards to other individuals is not permitted.

9. Are there any fees or charges associated with the Cashback program?

For all the fees related to Cashback Credit Cards, please refer to the Schedule of Charges.

10. Can the Cashback program be modified or terminated?

The Bank reserves the right to modify or terminate the Cashback program, including changes to the Cashback percentage, qualifying purchase categories, redemption options, and program terms. Any such modifications or terminations will be communicated to Cardholders in advance.

11. How can I know my earned Cashback amount?

Your earned Cashback amount will be mentioned in your monthly e-Statements.

12. Can I receive cashback on reversed, refunded, or canceled transactions?

No cashback will be provided in these cases. Only retail spending will qualify for cashback.

13. What are the other benefits available on the Invest Bank World Cashback credit card?

Below are the benefits summary applicable on the World Mastercard Credit card

Travel Features

Lifestyle Benefits

Peace of Mind

For details on the benefits, please visit www.priceless.com

14. What are the other benefits available on the Invest Bank Platinum Cashback credit card?

Below are the benefits summary applicable on the Platinum Mastercard Credit card

Travel Features

Lifestyle Benefits

Insurance Benefits

For details on the benefits, please visit www.priceless.com

Easy Payment Plan (EPP)

1. What is an Easy Payment Plan (EPP)?

EPP is an offering to you to conveniently convert your high value purchases at any of the merchants into 0% interest EMI. The 0% interest EPP is offered for 3, 6, 9 & 12 months and 1% interest for 24 months tenor.

2. What are the plans available and what are their applicable charges?

3. How can I request for the EPP?

Upon completing the purchase at any of the merchant outlets, you can call our Client Experience Team on 600 5444 04 to convert the transaction to available plans. Please note the request has to be made at least one day(working day) prior to the credit card Statement date.

4. What is the minimum purchase value to avail the EPP?

The minimum purchase value is AED 1000 and above for converting the transaction in to any of the available EPP plans.

5. How will the EPP plans show on my Credit Card statement?

The EPP will be shown at the end of the Statement with EPP amount and remaining installment period.

6. What will happen if I do not pay the EMI amount in a particular month?

The unpaid EMI amount will attract finance charges. Please check the Schedule of Charges for more details.

7. Can I early settle the EPP plan?

You can pre-close the EPP by making a payment and contacting the bank to give the request for early closure of the EPP. Pre-closure of EPP will be treated as cancellation and the relevant charges as per the service & price guide will be applicable.

BALANCE TRANSFER

8. What is Balance Transfer?

Balance transfer is when you transfer the outstanding balance of your other bank credit card to your Invest Bank Credit Card.

9. What is the processing fee and interest rate applicable for the plans?

10. What is the Balance Transfer eligibility criteria?

Any credit card issued in the UAE can be applied for Balance Transfer. Cardholders can use up to 80% of available credit limit for Balance Transfer.

11. Can I transfer balances from an internationally issued credit card account?

No, Balance transfer is available only for other banks credit card issued in the UAE.

12. How do I apply for Balance Transfer?

You can place the request by calling our Client Experience Team on 600 5444 04

13. What if I miss a payment?

Please note that if you fail to pay the minimum amount due by the due date at any point during the Balance Transfer tenure you will levy with Late Payment Fees. Any unpaid Balance Transfer amount at the end of the tenor will be converted to a regular Retail Plan and will subsequently charge as provided in the Schedule of Charges