ULTRACASH Platinum Mastercard Credit Card review
You choose 2 of 4 categories, Fuel, Online Shopping, Supermarkets or School Fees, and earn 5% cashback on them, while all other retail spend earns 1%. UAE Nationals who pick Fuel get an elevated 10% for the first 3 months before it settles to 5%. Cashback is capped at AED 500 per selected category each statement cycle, with the 1% base return capped at the credit limit, and is redeemed through the Ajman Bank app.
A one-time welcome cashback of AED 500 for UAE Nationals or AED 300 for Expatriates is available on a single retail transaction in the first 30 days once the annual fee is paid. The card is also the UAE's first Mastercard Touch accessibility notched card and adds valet parking three times a month at 35+ locations, free supplementary cards and full digital wallet support.
With category caps of AED 500 and a foreign currency fee of 3.67%, the card is best matched to households whose spending is concentrated in two everyday categories and who can meet the AED 12,000 spend to waive the second-year fee.
Card details
| Bank | Ajman Bank |
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| Card type | Cashback |
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| Card network | Mastercard |
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| Minimum salary | AED 10,000 |
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| Annual fee | AED 525 |
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| Fee waiver | AED 500 for UAE Nationals or AED 300 for Expatriates, +VAT 5%. The second-year annual fee (+VAT) is waived once the AED 12,000 retail spend threshold is met. |
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| Interest (monthly) | 3.50% |
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| Reward type | Cashback |
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| Reward rate | 5% cashback on 2 self-selected categories from Fuel, Online Shopping, Supermarkets and School Fees (UAE Nationals receive 10% on Fuel for the first 3 months if selected, then 5%); 1% on all other retail spendThe cardholder must select 2 of the 4 everyday spend categories; the category is determined by the Mastercard merchant code; the card must be valid and in good standing; cashback stops accruing if the Minimum Amount Due is missed on 2 consecutive payment due dates. AED 500 per selected category per statement cycle; the 1% other-retail cashback is capped at the card credit limit. Redemption is via the Ajman Bank Mobile Banking app. Cashback expires 2 years from the date of accrual and, on voluntary card closure, must be redeemed within 30 days. Excluded transactions: cash and ATM withdrawals, Easy Cash, balance transfers, brokers, government, money transfer and wallet top-up transactions, over-limit transactions, fees, installment plan transactions and disputed transactions. |
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| Welcome bonus | One-time welcome cashback of AED 500 (UAE Nationals) or AED 300 (Expatriates) on one retail transaction within the first 30 days of issuance and payment of the annual fee; not available to re-applicants.Make one retail transaction within 30 days of card issuance | Payment of annual fee required | Amount depends on nationality (AED 500 Nationals / AED 300 Expats) |
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| Lounge access | Not offered (not mentioned on the official page). |
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| Quick cash | Easy Cash lets you transfer funds from the card to any UAE bank account at low profit rates. |
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| Balance transfer | Balance transfer available at promotional rates for selected periods. |
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| Instalment plan | 0% Installment Payment Plan at preferred partners; 0% Easy Payment Plan on Emirates Airline. |
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Welcome bonus: One-time welcome cashback of AED 500 (UAE Nationals) or AED 300 (Expatriates) on one retail transaction within the first 30 days of issuance and payment of the annual fee; not available to re-applicants.
Terms: Make one retail transaction within 30 days of card issuance | Payment of annual fee required | Amount depends on nationality (AED 500 Nationals / AED 300 Expats)
ULTRACASH Platinum Mastercard Credit Card benefits
✓Up to 10% cashback on fuel for UAE Nationals in the first 3 months
✓5% cashback on 2 chosen everyday categories
✓UAE's first Mastercard Touch accessibility notched card
✓Complimentary valet parking 3x monthly at 35+ locations
✓Free supplementary cards (first 2 free, then AED 50 a year)
✓Apple Pay, Samsung Pay, contactless and 3D Secure
Offers and payment options
Quick cashEasy Cash lets you transfer funds from the card to any UAE bank account at low profit rates.
Balance transferBalance transfer available at promotional rates for selected periods.
Instalment plan0% Installment Payment Plan at preferred partners; 0% Easy Payment Plan on Emirates Airline.
ULTRACASH Platinum Mastercard Credit Card fees & charges
| Annual percentage rate (APR) | 42% per annum |
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| Cash advance fee | AED 150 per transaction (applicable per transaction up to AED 5,000) |
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| Late payment fee | AED 125 per month (Commitment to Donation / forced donation) |
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| Foreign currency fee | 3.67% |
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| Card replacement fee | AED 75 per request |
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From the bank’s Key Facts Statement / Schedule of Charges. Some figures include and some exclude 5% VAT, a bank’s marketing page can differ from its Key Facts Statement, and fees change - always confirm with the bank before you apply.
Who should get this card?
This card suits households that want high cashback on two everyday categories such as fuel, groceries, online shopping or school fees.
What works well
- ✓High 5% to 10% cashback on self-selected everyday categories
- ✓Generous AED 500 per category monthly cashback caps
- ✓Welcome cashback up to AED 500 with minimal effort
- ✓Second-year fee waivable with AED 12,000 retail spend
What to weigh up
- −Annual fee of AED 500 or AED 300 +VAT is not waived in the first year
- −High cashback is limited to only 2 categories of your choice
- −3.67% foreign currency transaction fee and no lounge access
ULTRACASH Platinum Mastercard Credit Card eligibility
Minimum salary AED 10,000; age and residency criteria not published; UAE Pass with a valid Emirates ID required for digital application.
▤Key Fact Statement▤Credit Card Application Form▤Passport and Emirates ID▤Visa copy where applicable▤Salary certificate or one month payslip▤Trade License (self-employed)
ULTRACASH Platinum Mastercard Credit Card FAQs
Minimum salary AED 10,000; age and residency criteria not published; UAE Pass with a valid Emirates ID required for digital application.
The listed annual fee is AED 525. AED 500 for UAE Nationals or AED 300 for Expatriates, +VAT 5%. The second-year annual fee (+VAT) is waived once the AED 12,000 retail spend threshold is met.
5% cashback on 2 self-selected categories from Fuel, Online Shopping, Supermarkets and School Fees (UAE Nationals receive 10% on Fuel for the first 3 months if selected, then 5%); 1% on all other retail spend
This card suits households that want high cashback on two everyday categories such as fuel, groceries, online shopping or school fees.
Product details are indicative and compiled from each bank’s official pages and Key Facts Statements; figures can differ between a bank’s marketing page and its Key Facts Statement, and fees, rates and VAT treatment change. We are not affiliated with, or authorised by, any bank - always confirm current fees, eligibility, rewards and terms directly with the issuing bank before applying. This page does not constitute financial advice.
