(MENAFN - Khaleej Times) Increasing school fees in the UAE is a growing concern for many parents and in a move to assist, Mashreq has created an opportunity for parents to cut down school costs by 10 per cent be it local or international with the launch of Masherq SmartSaver Titanium Credit Card. The cash back on educational expenses is valid until January 31, 2013.
UAE's credit card customers are not new to the 'cash back' feature with various lenders offering the same but with complicated tiers, conditions on minimum spend that can confusing.
Nimish Dwivedi, head of payments, Mashreq commented, "To tackle the rising cost of living, we have created a simple and easy to comprehend product that provides genuine savings on everyday spends making our valued customers smart savers."
Dwivedi said, "To reward our customers even more we are the first institution to provide a never-before saving of 10 per cent on all education expenses. This is based on the insight that education expenses form a significant chunk of our customers' household expenditure"
Mashreq SmartSaver credit card is the UAE's first of its kind and is set to challenge similar offerings in the market with its simple and straightforward offering that offer real every day savings.
Eyad Al Kourdi, vice-president and country manager, UAE, MasterCard Worldwide said, "MasterCard has been at the forefront of developing highly innovative payment solutions that offer unique and value added benefits to consumers. The newly launched credit card from Mashreq is an effective financial management tool for parents and is a testament of our capability to develop customised solutions for consumers. "