Don’t let the holidays turn into a financial nightmare. Consumers can save money by using just the right plastic money this holiday season. The trick is to know which ones to use when you go gift shopping or do something fun to celebrate the festive season.
Get discounts with your card
Whether you’re planning to treat your family and friends to a Christmas dinner or buy them special presents, you can spend less with your credit or debit card. Banks in the UAE have special offers promising to give discounts when you dine at select restaurants or purchase something at the store.
“You can get discounts without buying any deals or vouchers. Simply find out about all the dining offers on your credit card and save on a festive season dinner this year,” advises Preeti Bhambri, managing director and founder of MoneyCamel.com.
All Mashreq credit and debit cardholders can get up to 25 per cent discount at more than 500 restaurants through the bank’s Mashreq Flavours campaign, which runs until the end of the month.
At Rakbank, all their credit and debit cards come with a dining discount which can be availed at over 100 restaurants in Dubai and Abu Dhabi. The bank’s Titanium credit card and Premium debit card offer customers additional lifestyle privileges such as 40 to 50 per cent discount on jewellery from Lifestyle, Joyalukkas, Pure Gold and Layali.
“They also offer 25 to 35 per cent discount on entertainment from Dubai Dolphinarium, Lama Tours, and more,” says Anil Chander, Rakbank head of cards.
If you have a Bling or Loaded prepaid card, you might reap bigger rewards through the bank’s buy 1 get 1 free promotion when you use your plastic money at any of more than 50 outlets, including Cold Stone Creamery, Grand Optics and Forever 21. All the bank’s cardholders also have greater chances of saving through the exclusive weekly deals offering discounts of 50 per cent at various outlets.
Pay 0 per cent interest on purchases
One of credit cardholders’ biggest enemies is high interest rate, but banks offer just the right solution for this. With the interest-free plan, cardholders can make high-value purchases in easy instalments without paying extra cost.
Mashreq offers its credit card holders the chance to avail themselves of the “Zero Per cent Easy Payment Plan” while holiday shopping at more than 800 electronics, jewellery, travel, wellness and retail outlets across the UAE.
However, check the terms and conditions first before choosing any similar offer and ensure you can make the repayments on time, otherwise, you might incur extra charges or fees.
Redeem some cash back
Those who have signed up for Mashreq’s SmartSaver credit card can reduce the cost of their Christmas shopping through the “cashback” promotion. Shoppers can get 1.25 per cent cash back on domestic retail purchases, 3.25 per cent on retail purchases abroad and 10 per cent on education expenses.
The “cashback” promo for local and international retail spends is a regular feature of the SmartSaver card, while the 10 per cent “cashback” for education expenses is valid until January 31, 2013. Minimum cash back earned should be Dh100 to be able to redeem some money.
Rakbank also has ongoing offers that add value to cardholders and might help consumers save a few dirhams on holiday spending. The bank’s debit and credit cards come with a cashback feature of up to 5 per cent on purchases abroad and up to 3 per cent on domestic purchases, or La Carte points for the Geant card.
