UAE-based financial institution Mashreq has re-launched its credit card, SmartSaver, in a new avatar, geared with everyday savings benefits.
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SmartSaver will offer savings of up to 10%, with no caps, at over 450 partner outlets across 50 leading brands.
The payback benefits will be available in 15 everyday spend categories including supermarkets, fashion, apparel, home décor, health & wellness, travel, hospitality, books & stationery, car rentals, auto accessories, electronics, jewellery and more.
With a guaranteed give-back of 1.25% on every domestic purchase, 3.25% on all international spends, 5% savings on all education, telecom and utility bill payments and no joining or annual fee, SmartSaver will benefit consumers with savings of up to AED30,000 ($8,167) per annum.
Nimish Dwivedi, head of cards at Mashreq, said: "The typical cash-back card in the UAE is focused largely on specific categories of spends such as supermarkets or education with the actual give-back to customers being subject to multiple ‘ifs’ and ‘buts’ – tiers, thresholds, exclusions etc. With SmartSaver, we’ve done away with the ambiguity and transformed the savings universe."
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By GlobalData
