Requesting a Riyad Bank Platinum Mastercard is simple and opens the door to exclusive rewards, travel perks, and financial flexibility.
Follow this quick guide to get started on securing your card today.
Why Choose the Riyad Bank Platinum Mastercard?
The Riyad Bank Platinum Mastercard offers a range of benefits that make it a compelling choice for many. Here's why you might consider choosing this card:
- Exclusive Rewards: Earn points for every purchase, redeemable for travel, shopping, and more.
- Travel Perks: Access to airport lounges, travel insurance, and other premium services.
- Flexible Payment Options: Choose flexible installment plans with low interest rates.
- High Spending Limits: Enjoy higher credit limits, perfect for larger purchases or frequent use.
- Advanced Security Features: Benefit from enhanced security, including fraud protection and secure online transactions.
Comparing the Platinum Mastercard to Other Cards
Key differences stand out when comparing the Riyad Bank Platinum Mastercard to other cards. Here's a brief comparison:
- Rewards Program: The Platinum Mastercard gives more spending points than standard cards.
- Travel Perks: It includes lounge access and travel insurance, which basic cards often need more.
- Credit Limit: The card offers a higher credit limit than most entry-level options.
- Interest Rates: While interest rates may be higher, the flexible installment plans are a plus.
- Annual Fees: The fees are higher, but the added rewards and benefits justify the cost.
Eligibility Requirements
To apply for the card, you must meet specific eligibility requirements. Here's a quick overview of what's needed:
- Applicants must be at least 18 years old.
- A Saudi national must have a valid residency permit (Iqama).
- Must meet the minimum monthly income requirement as determined by the bank.
- Must have a good credit score or history.
- A valid national ID or Iqama is required for identification purposes.
Steps to Request the Card
Requesting the Riyad Bank Platinum Mastercard involves a straightforward process. Follow these steps to complete your application:
- Visit the Riyad Bank website or go to a local branch.
- Navigate to the credit card section and select the Platinum Mastercard.
- Fill out the online or in-branch application form.
- Provide the required documents (ID, proof of income, etc.).
- Apply for processing.
- Wait for approval, which typically takes a few days.
- Receive and activate your card once approved.
Documents Needed
You must provide specific documents to complete your Riyad Bank Platinum Mastercard application. Here's a list of what you'll need:
- Valid national ID or Iqama.
- Proof of income (salary certificate or bank statements).
- Employment letter or contract (if applicable).
- Proof of residency (for expatriates).
- Any additional documents requested by the bank.
Application Submission
Once you've gathered your documents, submitting your Riyad Bank Platinum Mastercard application is simple. Here's how:
- Online Submission: Visit the Riyad Bank website, fill out the form, upload documents, and submit.
- In-Branch Submission: Go to the nearest branch with your documents. A representative will assist with your application.
- Mobile App Submission: Complete the form and upload documents using the Riyad Bank mobile app.
- Confirmation: You'll get an email or SMS confirmation with an application reference number.
Approval Process
The approval process begins once you've submitted your application for the Riyad Bank Platinum Mastercard. Here's an overview of the steps involved:
- Initial Review: Riyad Bank reviews the submitted documents to ensure all eligibility requirements are met.
- Credit Check: The bank conducts a credit history check to evaluate financial reliability.
- Approval Decision: If your application meets the criteria, Riyad Bank approves the request.
- Notification: You'll receive a confirmation of the approval via email or SMS.
- Card Issuance: After approval, your card is processed and delivered to your registered address.
Receiving the Card
Once your application is approved, you will receive your Riyad Bank Platinum Mastercard, the final step. Here's how the process works:
- Delivery Method: The card is typically mailed to your registered address.
- Delivery Time: It usually takes a few business days for the card to arrive, depending on your location.
- In-Branch Pickup (if applicable): In some cases, you may have the option to pick up the card at a Riyad Bank branch.
- Card Packaging: The card comes in a secure envelope, often with activation instructions included.
Card Activation
Once you receive your Riyad Bank Platinum Mastercard, activating it is the next crucial step. Here's how to activate the card:
- Phone Activation: Call the Riyad Bank customer service number provided with your card to complete the activation.
- Online Activation: Log in to Riyad Bank's online banking platform and follow the prompts to activate your card.
- Mobile App Activation: Use the Riyad Bank mobile app to quickly activate your card by entering the required details.
- ATM Activation (if applicable): You may also activate the card by using it for a transaction at a Riyad Bank ATM.
Interest Rates and Associated Fees
Understanding the specific interest rates and fees of the Riyad Bank Platinum Mastercard is crucial before applying.
Here's a detailed breakdown of the costs associated with the card:
- Annual Fee: SAR 500 annually.
- Interest Rate (APR): 2.75% per month on purchases and cash advances.
- Cash Advance Fee: 3% of the amount or a minimum of SAR 75, whichever is higher.
- Late Payment Fee: SAR 100 for each missed payment.
- Foreign Transaction Fee: 2.75% on all international purchases.
Tips for Using the Platinum Mastercard Effectively
To get the most out of your Riyad Bank Platinum Mastercard, it's essential to use it wisely. Here are some tips to help you maximize its benefits:
- Pay Off the Balance Monthly: Avoid interest charges by paying off your full monthly balance.
- Use Rewards Strategically: Redeem reward points for high-value items like travel or exclusive offers.
- Take Advantage of Travel Perks: Utilize the airport lounge access and travel insurance when traveling.
- Monitor Spending: Regularly check your statements to stay within your credit limit and avoid overspending.
- Set Up Alerts: Enable spending and payment alerts to keep up with your card activity.
How to Contact Riyad Bank for Card-Related Support
If you need help with your Riyad Bank Platinum Mastercard, contacting their support team is simple. Here's how you can reach them:
- Phone Support: Call Riyad Bank customer service at +966 920002470 for card-related inquiries.
- Visit a Branch: Head to the Riyad Bank headquarters at King Abdul Aziz Road, Riyadh, Saudi Arabia.
Wrapping It Up
The Riyad Bank Platinum Mastercard provides excellent benefits, competitive rates, and valuable features.
It's perfect for frequent travelers and everyday users who want more from their cards.
Apply today to start enjoying these exclusive perks.
Disclaimer
Terms, conditions, and fees for the Riyad Bank Platinum Mastercard are subject to change based on the bank's policies.
Please review the latest information on the Riyad Bank website before applying.
