Frequently Asked Questions Everyday SmartSaver Credit Card

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1 Frequently Asked Questions Everyday SmartSaver Credit Card Q. Why should I apply for a SmartSaver Credit Card? A. The Mashreq SmartSaver credit card is the ONLY savings credit card that allows you to earn genuine cash back from your first spend. That s not all. This is the only Credit Card that offers you a whopping savings of upto 10% across over 450+ outlets in the UAE, 5% savings on education and utility expenses and savings across all purchases anywhere in the world making it that much more easier to save MORE on your everyday expenses Q. What is so special about the SmartSaver card? A. The SmartSaver card is a Free for life Credit Card with a unique savings offer. Because there are no minimum spend thresholds, the SmartSaver card allows you to save virtually from your first spend. E.g. you will save on spends of as little as AED 10/-. In addition, the savings is not limited to selected categories of purchases or shops. So you can save across all your everyday spends. The SmartSaver Credit Card is also the UAE s first & ONLY card to offer a WHOPPING save of up to 10% across everyday spend segments like supermarkets, retail & fashion, home furnishings, health & wellness, jewelry, auto rental & accessories, travel and much more. In addition you will also save 5% on utility & education, 1.25% on local purchases and 3.25% on international purchases.

2 Q. How much will I save? A. You will save on all the purchases made on the SmartSaver Credit Card. Up to 10% bonus savings at everyday Spend partner outlets. For the updated list of merchants please visit: Savings on local purchases 1.25% of the amount of purchase. For all purchases made within the UAE, customer will save 1.25% on the purchase amount Savings on International purchases 3.25% of the amount of purchase. For all purchases made internationally in a currency other than UAE dirhams, customers will earn 3.25% of the purchase amount* Savings on Utility & Education expenses 5% of the amount paid For all education related spends, school or college made locally or internationally, and/or utility expenses you will save 5% on the transaction amount. However, please note that the maximum combined savings that can be earned per month on utility & education related spends is capped at AED 300/- The international savings of 3.25% is not applicable if the customer has made a transaction internationally using the local currency of that country. E.g. The SmartSaver card was used in UK and the transaction amount was billed in GBP Q. Will I earn Cashback on all utility & education expenses? A. Absolutely. Simply spend AED 3,000 towards other retail purchases excluding education and utility and you will automatically be eligible for the 5% Cashback offer. The cashback is capped at AED 300 p.m. towards utility & education related expenses. Q. Will I have to shop at certain outlets or categories of outlets to earn THE 5% Cashback? The SmartSaver Credit Card allows you to save more on your regular Everyday spends. This means that you can save on just about any purchase like dining, jewelry, home furnishing, electronics, travel or any other made on your Card; excluding education or utility expenses. Q. Is the 5% Saving on Education & Utilities a limited period offer?

3 A. Yes, 5% savings will be earned towards utility & education spends made on the card is a limited time offer. Q. Will I have to shop at certain outlets to earn bonus Cashback? A. The SmartSaver Credit Card allows you to save MORE on your regular Everyday spends. This means that you can save on just about any purchase like groceries, home furnishing, clothing, dry cleaning, jewelry, health & wellness, books & Stationary, auto rental & accessories, travel, entertainment and many more made on your Card. For example, when you shop for groceries at V Cool for AED 1,000, you earn AED 100/- as Cashback. For the updated list of merchants & categories please visit: Q. Will I save on discounted spends I make on the Card? A. Absolutely. You will save on the discounted spends on the Card. Example; if Homes R Us is on SALE and is offering a flat 50% discount in May As a SmartSaver customer you will not only get 50% discount during the sale period but also save an additional 6.25% during the sale period. That is whooping saving. No other card can offer you a cashback this BIG. Q. What are the Annual fees on the SmartSaver card? A. The SmartSaver card is free for life for both the Primary & the supplementary Card Q. Is there a cap on the savings earned on education spends? A. Yes, The maximum combined savings that can be earned per month on utility & education related spends is capped at AED 300. The total maximum savings (including the Cashback on education) that can be earned in a month cannot exceed AED 2,500/- per month. Q. Is there a cap on the bonus cash back earned at the participating bonus cash back outlets? A. No. There is NO CAP on the cash back earned at any of the participating bonus partner outlets. The total savings cap of AED 2,500 is not applicable for savings earned at any of the participating outlet. For example, if you are doing up your new

4 flat and you are purchasing furniture and furnishings worth AED 100,000 from Homes R Us, you will enjoy 6.25% cash back on the entire transaction which is incredible AED 6,250. These savings are in addition to what you have earned at other partner outlets and the savings on your daily spends/international spends/education etc. Unbelievable isn t it? Q. Is there a minimum spend threshold? Unlike most other cards in the market, the Smart Saver credit card does not have any minimum spend thresholds. This means you will start saving 1.25% from as little as AED 1/- In addition, when you spend AED 3,000 or more on other retail expenses excluding education & utility expenses, you will automatically be eligible to save 5%. Q. Are the savings tiered based on the purchase amount? A. No. Savings on the Smart Saver credit card are not based on purchase amounts. You can save up to 6.25% across purchases at SmartSaver partner outlets, 1.25% on local purchases, 3.25% on international purchases and 5% cash back on utility & educations spends. Unlike other credit cards, you don t have to wait till you have spent a minimum amount of AED 1,000 or more before you start saving. You save from the very first dirham that you spend. Q. Do all spends towards Education, local or International, qualify for the 5% Cashback on education? Yes, all spends at institutions that are listed as an Educational Institution as specified by MasterCard will qualify for the 5% cash back. Unfortunately if the institution is not listed as an Educational Institution with MasterCard, then the purchase/transaction will not qualify for the 5% cash back. However, please note that the maximum combined Cashback that can be earned per month on both education related spends & utility expenses is capped at AED 300 Q. Will I get cashback/savings on payment of bills? Yes. Simply spend AED 3,000 towards other retail purchases excluding education and utility and you will automatically be eligible for the 5% savings offer. Q. What is considered as a Utility transaction that I can save 5% on?

5 A. Utility purchase transactions include transactions like Etisalat & DU bill payments, payment of Salik, DEWA/SEWA/ADWEA, Pehla, Govt. payments, Insurance payments etc. Transactions mentioned above made through any of the Bank s payment channels like website/ bank branch/ Call Center etc. however will not qualify for the 5% savings offer. Q. Do I save on all the transactions on my Card? A. All retails purchases made on the Card will save. Spends not qualified for savings are Balance Transfers, Easy Cash, Credit Card cheques and Fees & charges. Q. When will the cashback be calculated? A. The cashback will be calculated on your statement date. For customers with a statement date (billing cycle) on the 17 th - Spends posted between 17 th and 16 th of every month will be considered. For customers with a statement date (billing cycle) on the 11 th - Spends posted between 11 th and 10 th of every month will be considered. Q. What happens to the savings I have earned in the case of a reversal? A. In the case of a reversal of a transaction, the savings on the transaction will also be reversed. Savings will be awarded to only actual purchase transactions. Q. Can I redeem my cashback/ savings for something other than cash? A. No. The savings earned can be redeemed only as cash credit to the card account. Q. When can I redeem the cashback/ savings that I have earned? A. The savings can be redeemed on achievement of a minimum of AED 100/- in the saving balance. Q. How do I redeem the cashback/ savings? A. The savings earned can be redeemed anytime once the saving balance has reached AED 100/-. To redeem, customer can simply call the Direct Banking Center at and place a request for the same. The savings will be credited within a maximum of 3 working days into the SmartSaver Credit Card account. Q. Will the cashback/ savings ever expire? A. Yes, the savings earned has a maximum validity of 18 months from the date of earning. If the savings have not been redeemed within this period, it will be expired.

6 Q. Is it possible for me to lose the cashback/ savings? A. As long as the Credit Card account is open and in good standing, the cash back will not be lost. Cash back will not be earned for transactions on accounts that are delinquent. Similarly, Cashback cannot be redeemed on accounts that have are delinquent. Q. Will the Cash back earned apply directly to the outstanding balance of the Credit Card? How does the minimum amount due get affected if I redeem the Cashback covering the partial amount of the total outstanding? A. The cash back earned can be redeemed upon the choice of the customer to the Credit Card account and will be applied directly to the outstanding balance of the card but does not count towards the minimum monthly payment on the Card. The cash back is considered as a credit towards the Card account and not as a payment, hence customer must still make the minimum monthly payment due on the Card. Q. I have a supplementary card as well? Will I earn cash back on this Card as well? A. Cash back will be earned on spends made on the supplementary card as well. However, please note that the cash back can be redeemed only against the Primary Card account and will appear only on the statement of the Primary Card account. Q. Will my cash back earned be cancelled when I cancel my Card? A. Cash back that has not been redeemed prior to 18 months or the cancellation of the Card will be forfeited. Q. If I switch from my existing Mashreq Credit Card to the new SmartSaver credit card, will I still earn Salaam points? A. No. The Salaam points you have earned will remain. You can choose to redeem the Salaam points using your SmartSaver Credit Card. However, you will not earn any Salaam points on the SmartSaver credit card. You will only earn cash back on purchases made on the SmartSaver credit Card. Q. How do I check my cash back balances? A. The new cash back balance will appear in the monthly credit card statement. The cash back mentioned in the statement will be the cash back earned during that particular billing cycle. Q. Are cash transactions like specific queries on Govt bonds, Mashreq Millionaire payments. Also what about regarding Credit Shield or any other insurance Purchase?

7 A. Any cash or cash like transactions will be excluded from earning of cash back and only Purchase transactions made on the card will be qualify for cash back