TRAVEL CARDS
● Your credit card perks can help trim costs on your next getaway
Special to GN Focus
Holidays expensive, but traveller-friendly benefits on your credit card could help trim costs. Even if you don’t have thousands of points and miles on your card there are many ways to take the sting out of your vacation bill if you have a smart look at your credit card.
With expatriates accounting for 85 per cent of the UAE workforce, international travel is a part and parcel of life for the majority of the population. “Travel cards have become a more popular, convenient and secure mode of payment when abroad compared to cash, says Pankaj Kundra, Head of Payments at Mashreq Bank.
According to Kundra, recent surveys indicate that travel is one of the most important areas that customers consider while choosing a card. He says this category is even more relevant for the UAE, where the majority of the population is made up of expats, who regularly visit their home country, as well as frequent business and leisure travellers. are
One way to reduce costs while travelling abroad is to opt for a credit card with lower foreign transaction fees. Bank fees and high exchange rates can Thursday, December 13, 2018 temper the holiday excitement and fun.
“While customers are charged forex fees for international transactions [to cover for the higher expenses that banks incur on these transactions], most travel cards compensate customers by giving higher rewards and benefits on international usage. For instance, Mashreq SmartSaver Global credit card offers four times the cashback on international purchases compared to domestic spends and 5 per cent bonus cashback on all airlines, hotels and duty-free spends.”
A good credit card can also improve the entire travel experience, right from the moment you leave home. According to Kundra, complimentary services offered include travel insurance, airport pick-up and drop, airport meetand-greet, and unlimited lounge access at more then 700 lounges globally on all of Mashreq’s premium card offerings.
“In addition to offering complimentary lounge access to its cardholders, the bank also provides a convenient online redemption platform to customers to redeem their rewards for flight tickets, hotels as well as electronics.”
Amer Khan, Retail Banking,
Head of Products