RakBank has launched its latest World MasterCard credit card.

It will offer up to 10 per cent cashback on travel, hotel dining, and supermarket spends plus a host of dining and lifestyle privileges, travel and insurance benefits, and convenient easy payment plans, said a statement.

Prior to the launch, the bank asked over 1,000 participants in conjunction with YouGov what they find most appealing as credit cardholders and cashback came out on top for both genders and all ages, while 16 per cent chose easy payment plans followed by air miles, discounts on movie tickets and retailer tie-ups with 14 per cent, eight per cent and five per cent respectively.

Dubai has the world's busiest airport and its residents have a penchant for travelling, yet 76 per cent prefer cashback to air miles when given a choice between the two because of the flexibility of using cashback for flight purchase even during high season, the survey found.

Ian Hodges, head of retail banking, said: “RakBank was the first in the country to offer a permanent ‘cashback’ feature back in 2006 on its credit and debit cards.

“Following its success and the positive customer feedback, we launched a suite of conventional and sharia-compliant credit cards since then that continue to offer cashback, the latest of which is the Bank’s first premium Credit Card - the RakBank World MasterCard Credit Card.”

The survey also found that higher earners are more interested in added perks and rewards, with 60 per cent of the higher income brackets indicating interest in added extras.

In addition to up to 10 per cent cashback on travel spends such as flights and hotels, World Credit cardholders enjoy 50 per cent cashback on movie tickets at cinemas worldwide, global airport lounge access, hotel privileges, car rental offers and more, said the statement.

The card also extends zero per cent easy payment plans for three, six, nine or 12 months at a wide range of participating merchants, as well as zero per cent interest on balance transfer for three months, it added. - TradeArabia News Service