RAKBANK Elevate cashback rate, cap and annual fee
RAKBANK Elevate pays 1.6% at non-dirham spending, and 6 other rates. The card costs AED 617.40 a year.
RAKBANK · United Arab Emirates · catalogue v101
Read from RAKBANK's own published terms on 19 Sep 2026.
AED 617.40Annual fee
1.6%Best rate
What it pays, by category
| Spending | Rate | Monthly cap |
|---|---|---|
| non-dirham spendingtravel | 1.60% | —Anything bought in a currency other than the dirham, not only travel — and RAKBANK charges no foreign transaction fee on it. The EEA earns 0.5 instead |
| everything else | 1.60% | —Everything else, at the Prime tier. Plus pays 3 a dirham and Privilege 4. |
| groceries | 0.48% | —Supermarkets, which RAKBANK bands with insurance at well under a third of the general rate. |
| government | 0.32% | —Government services and bill payments, on the lowest band with charities, transit, real estate, petrol, cars and exchange houses. |
| fuel | 0.32% | —Petrol stations, on the same lowest band. |
| rent and property | 0.32% | —Real estate, on the same lowest band. |
| phone and internet | 0.32% | —Telecoms, on the same lowest band. |
A subscription card in a credit card's clothes, and the rates below are its entry tier. RAKBANK sells three: Prime at 2 RAKrewards a dirham, Plus at 3, Privilege at 4, and you pick one each statement cycle. Each tier carries a monthly spend it expects — AED 5,000, AED 10,000, AED 20,000 — and charges a fee only if you miss it: AED 49, AED 99 or AED 199 plus VAT. Prime is recorded here because it is the one anybody can hold. The bank prices its own points on the same page: "up to 3.2% cashback on all spends" against Privilege's 4 RAKrewards a dirham is eight tenths of a fil each, which is the figure used throughout. Two reductions sit underneath whichever tier you pick: insurance and supermarkets earn 0.6 a dirham, and charities, government, bills, transit, real estate, petrol, cars and exchange houses earn 0.4. The EEA earns 0.5. And the part worth the annual fee on its own: no foreign transaction fee at all. RAKrewards redeem only against flight and hotel transactions from the last 90 days, minimum 10,000, and they expire after 36 months. Source: RAKBANK's own Key Fact Statement for the card, read 19 Sep 2026.
Questions people ask
What cashback does the RAKBANK Elevate pay?
1.6% at non-dirham spending, and 6 other rates.
Is there a cap on the RAKBANK Elevate?
No monthly cap is published on the rates shown here.
What is the annual fee on the RAKBANK Elevate?
AED 617.40 a year.
Knowing the rate is not the same as remembering it
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