MashreqPoints Terms & Conditions
Points Accumulation
- AED 1 of retail purchase spending equals 1 MashreqPoint
- MashreqPoints will not be awarded on any Cash transactions. This includes over the counter cash advances, ATM cash withdrawals and/or any quasi-cash transactions like purchase of casino chips and traveller cheques, as well as Easy Cash and Balance Transfer Transactions
- Returns, Refunds, Reversal of interest and annual fees will result in reduction of the accumulated MashreqPoints at the same rate at which the MashreqPoints were accumulated.
- MashreqPoints can be accumulated on Mashreq's Visa and MasterCard credit card accounts.
- Spending with both Principal and Supplementary cards accrues MashreqPoints.
- MashreqPoints accumulated would be initialized to zero when a principal card is cancelled either by cardmember or the Bank.
- MashreqPoints accumulated will cease when a credit card account is 90 days past due (i.e. a payment equal to or greater than the total minimum due has not been made for 90 days from a statement date). MashreqPoints accumulation will start again when the card account is current. If a card account is 120 days past due (i.e. a payment equal to or greater than the total minimum due has not been made for 120 days from a statement date) the cards will be cancelled and all accumulated MashreqPoints will automatically expire. Reinstatement of the card would not reinstate expired MashreqPoints.
Points Redemption
- MashreqPoints can be redeemed /exchanged for product/services from retailers/service providers ('MashreqPoints-Reward Partners') of Mashreq's choice.
- MashreqPoints can be redeemed to cover the cost of the products/services either in full or in part.
- A minimum number of MashreqPoints ('Redemption Threshold') over single/multiple card accounts need to be accumulated by the principal cardmember at the time of redemption. The Redemption threshold is currently 7,700 MashreqPoints.
- Accumulated MashreqPoints can be consolidated together on a Visa and MasterCard account belonging to the same principal cardmember at the time of redemption.
- The value of MashreqPoints in the product/services ('Redemption Value') is determined by Mashreq and may vary with either the MashreqPoints balance at the time of redemption or product/service category. The Redemption Value (AED equivalent) is currently 0.65% of the MashreqPoints being redeemed.
- MashreqPoints will initially have no cash value.
- A Redemption voucher will be issued to the principal cardmember and can be used for purchasing product/services from MashreqPoints-Rewards Partners.
- The Redemption voucher will be treated as invalid after 6 months from the issue date.
- Redeemed MashreqPoints will not be reinstated.
- MashreqPoints awarded on disputed transaction/charges will not be considered for redemption.
- MashreqPoints can be redeemed if and only if
1. There are no overdue amounts
2. The Principal credit cards are valid.
3. The credit card outstanding balances are not overlimit by more than 5% of the credit limits
4. The cardmember was not overdue for more than 60 days in a 6 month period prior to redemption and not overdue for more than 90 days in a 12 month period prior to redemption
5. The card was not used for activities determined as "unusual" by Mashreq
Mashreq reserve the right to change, amend, alter modify the terms of the MashreqPoints program at anytime by providing thirty days notice to the cardmember or terminate the program at anytime either by providing thirty days notice to the cardmember through mailing a notice at the address of the cardmember on file, or without providing any notice to the cardmember. All unused MashreqPoints at the time of program termination will immediately expire and will have no future value or reinstatement possibilities. Additionally Mashreq shall have no liability for any consequences of this program, including the service provided by any of Mashreq's MashreqPoints associates and/or any ammendments that the Bank may make from time to time. Additionally all terms and conditions and program rules will be binding on all cardmembers should they wish to participate in the program. All disputes regarding the MashreqPoints program will be resolved by Mashreq in its sole discretion.