Elevate Credit Card review
Points earning rises with your tier, from 2 RAKrewards per AED 1 on Prime up to 4 on Privilege, and travel redemptions are worth double, pushing effective value to around 3.2% on airline and hotel bookings. Rather than a fixed annual fee, the card uses monthly subscription tiers that are waived once you meet the spend threshold, ranging from AED 79 on Prime to AED 299 on Privilege.
The travel and lifestyle package is the real appeal, with unlimited access to 1200+ lounges plus a guest, zero foreign transaction fees, up to AED 200 monthly streaming cashback, six Careem airport transfers a year, and an Elevate Premium Pass covering gyms, pools and beach clubs.
New cardholders start with complimentary Privilege status during an introductory window, and built-in medical and travel delay cover adds peace of mind for regular flyers who can sustain the required monthly spend.
Card details
| Bank | RAKBANK |
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| Card type | Premium |
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| Card network | Mastercard |
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| Minimum salary | AED 35,000 |
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| Annual fee | AED 208.95 |
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| Fee waiver | No fixed annual fee; monthly subscription fee applies only if the monthly spend threshold is not met - Prime AED 49 + VAT (waived at AED 5,000 spend/month), Plus AED 99 + VAT (waived at AED 10,000 spend/month), Privilege AED 199 + VAT (waived at AED 20,000 spend/month; first 3 months free for new cardholders) |
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| Interest (monthly) | 3.65% |
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| Reward type | RAKrewards points |
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| Reward rate | Earn by tier: 2 RAKrewards per AED 1 on Prime, 3 on Plus and 4 on Privilege for most spend; up to about 3.2% effective value on airline and hotel redemptionsEarn rate and benefits scale with your monthly spend tier (Prime, Plus or Privilege), and travel redemptions are valued higher at 2x standard Value is highest when points are redeemed for airline or hotel bookings; zero foreign transaction fees apply |
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| Welcome bonus | First 3 months on us (monthly fee waived for new cardholders) plus a welcome bonus of up to AED 1,000 in RAKrewardsNew cardholders introductory period of 3 months |
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| Lounge access | Unlimited access to 1200-1300+ airport lounges worldwide for the cardholder plus one guest |
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| Quick cash | Cash advance of up to 80% of the credit limit, plus a credit card cheque option |
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| Instalment plan | 0% Easy Payment Plans |
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Welcome bonus: First 3 months on us (monthly fee waived for new cardholders) plus a welcome bonus of up to AED 1,000 in RAKrewards
Terms: New cardholders introductory period of 3 months
Elevate Credit Card benefits
✓Mastercard World Elite premium card
✓Zero foreign transaction fees
✓Unlimited access to 1200+ lounges with a guest
✓Up to AED 200/month cashback on video streaming (tier dependent)
✓6 complimentary Careem airport transfers per year
✓Elevate Premium Pass covering gyms, pools and beach clubs, with chauffeured rides and padel on Privilege
✓Complimentary Careem Plus membership
✓Built-in medical and travel delay coverage
Offers and payment options
Quick cashCash advance of up to 80% of the credit limit, plus a credit card cheque option
Instalment plan0% Easy Payment Plans
Elevate Credit Card fees & charges
| Annual percentage rate (APR) | 43.8% |
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| Cash advance fee | 3.31% of cash advanced or AED 105, whichever higher (incl VAT) |
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| Late payment fee | 241.5 |
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| Over-limit fee | 299.25 |
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| Foreign currency fee | Zero FX surcharges on the Privilege tier only (not Prime/Plus); standard Mastercard scheme processing charge of ~1.15% applies |
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| Minimum payment | 4% or AED 100, whichever higher |
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| Interest-free period | Up to 55 days |
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| Card replacement fee | 52.5 (per SP Guide, standard consumer credit card) |
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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?
It is built for high earners and frequent travellers who spend enough each month to waive the fee and want premium lounge and lifestyle perks.
What works well
- ✓High-value lounge and lifestyle benefits
- ✓Zero FX fees
- ✓Flexible spend-based fee waiver
What to weigh up
- −High AED 35000 salary requirement
- −Monthly subscription fee if the spend threshold is not met
- −Rewards deliver best value only on travel redemptions
Elevate Credit Card eligibility
Minimum salary of AED 35000 per month for salaried applicants; self-employed applicants need AED 600000 quarterly turnover or AED 200000 average quarterly balance; UAE resident
▤Emirates ID▤Passport/Visa copy▤Salary certificate or bank statements
Elevate Credit Card FAQs
Minimum salary of AED 35000 per month for salaried applicants; self-employed applicants need AED 600000 quarterly turnover or AED 200000 average quarterly balance; UAE resident
The listed annual fee is AED 208.95. No fixed annual fee; monthly subscription fee applies only if the monthly spend threshold is not met - Prime AED 49 + VAT (waived at AED 5,000 spend/month), Plus AED 99 + VAT (waived at AED 10,000 spend/month), Privilege AED 199 + VAT (waived at AED 20,000 spend/month; first 3 months free for new cardholders)
Earn by tier: 2 RAKrewards per AED 1 on Prime, 3 on Plus and 4 on Privilege for most spend; up to about 3.2% effective value on airline and hotel redemptions
It is built for high earners and frequent travellers who spend enough each month to waive the fee and want premium lounge and lifestyle perks.
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.
