AlAhli Credit Card
Overview
The World is yours with AlAhli credit card! Offering the best loyalty program in the Kingdom, with flexibility of using the card and redeeming points in any form AlAhli credit card is truly special.
With AlAhli credit card you will have the chance to conveniently redeem your earned points in any of the following options at any time:
- Transfer points to our partners (Saudia Airlines, Singapore Airlines, Malaysian Airlines, Hilton HHonors) .
- Book air tickets or make hotel reservations
- Transfer your points to cash back
- Request an e-gift card
Features and Benefits
- Worldwide acceptance at over 32 million merchants.
- Instant cash from all ATMs across the globe.
- Interest-free payments for up to 50 days.
- Flexible payment options from 5% of the total to monthly installments.
- Free travel insurance of up to SAR 750,000 against personal accident, flight cancellation, and luggage delay and loss.
- Additional protection with Himayati and Himayati Plus.
- SMS notification for every transaction.
- Full transparency with your monthly statement.
- Cash withdrawals of up to 30% of the credit limit through ATMs and financial institutions around the world.
- E-secure shopping service to provide greater protection when using a credit card online. For more information, please click here.
- Special offers and discounts.
- Complimentary airport lounge access at select airports.
- Higher credit limits.
- Higher travel coverage.
- MasterCard and VISA Premium credit ard benefits worldwide.
- Please visit www.mastercardmoments.com or www.visacemea.com
VAT
As per Royal Decree NO.(M/113) dated 02/04/1438, a Value Added Tax (VAT) would be introduced effective 01 January 2018. The taxable items for Credit and Prepaid Cards are as Follows:
1. Annual Fees
| Annual fee | 400 |
| VAT 5% | 400 x 5% = 20 SAR |
| Total Charged (with VAT) | 420 SAR |
2. Cash Withdrawal Commission
| Cash Withdrawal | 1,000 SAR |
| Cash Withdrawal Commission | 75 SAR |
| VAT 5% on Commission | 75 x 5% = 3.75 SAR |
| Total (With VAT) | 1,078.75 SAR |
3. Forex Markup
| Transaction Amount | 1,000 $ |
| Conversion Rate | 3.75 |
| Transaction Amount in SAR | 3,750 SAR |
| FX Mark-Up 2.75% | 103.12 SAR |
| VAT 5% on Forex Markup | 5.1 SAR |
| Total Charged (with VAT) | 3,858.2 |
4 . Credit Shield/Insurance Fees (i.e Hemyati and Hemayti plus, and applicable to credit cards only)
| Outstanding amount | 1,000 SAR |
| Hemyati 0.39% | 1,000 x 0.39% = 3.9 SAR |
| VAT 5% on Credit Shield | 3.9 x 5% = 0.195 SAR |
| Total Charged on Credit Shield | 1,004.095 SAR |
The Credit and Prepaid Card statement will also be treated as the VAT invoice .
NCB’s VAT Registration Number will be provided in the Statement.
Each Monthly Credit and Prepaid Cards Statement will be assigned a VAT invoice number.
The above new statement will be effective from the statement issued on January 15th, 2018.
A customer may terminate the relevant Credit or Prepaid Card agreement if they do not agree to any amendment, change or modification by notifying the Bank of their desire to terminate the Credit or Prepaid agreement with (14) calendar Days after their receipt and after paying the outstanding amount.
For annual fees charged in 2017, the VAT law requires banks to identify the portion applicable to the year 2018, and apply the 5% VAT on the identified portion. Please see table below for the VAT that will be invoiced in the January 2018 statement cycle based on the amount of the annual fee and the month in 2017 which it was charged, as per the below example:
Example:
| Annual fee | 400 SAR |
| Annual fee Date | 20 June 2017 |
| Portion Fee for 2018 (calculated for the period 01 Jan 2018 – 19 Jun 2018) | 400 X (170/365) = 186.30 SAR |
| VAT 5% on prorated Annual fee | 9.31 SAR |
