Nayifat Credit Card Cashback – Terms and Conditions

1. Definitions

  • Card: The Nayifat Credit Card issued by Nayifat Finance Company (NFC).

  • Cashback Program: The loyalty program that enables Cardholders to earn cashback on eligible transactions.

  • Cashback: The accrued amount earned on Eligible Transactions, credited to the Cardholder’s account as per these Terms and Conditions.

  • Eligible Transactions: Retail transactions made by the Cardholder at physical or online merchants, excluding transactions specified under the Exclusions clause.

  • Fair Usage: The expected usage of the Card for personal, non-commercial purposes, consistent with normal spending patterns.

2. General Terms

  1. These Terms & Conditions form an integral part of the Credit Card Agreement and must be read in conjunction with it.

  2. Nayifat reserves the right, at its sole discretion and without prior notice, to:

    • Amend, vary, or cancel these Terms & Conditions.

    • Modify or discontinue the Cashback Program, features, benefits, or value of cashback.

  3. All decisions made by Nayifat in relation to the Cashback Program are final and binding.

  4. It is the responsibility of the Cardholder to stay informed about updates, which will be published on Nayifat’s official website.

3. Cashback Earnings

  1. Cashback will accrue on each Eligible Transaction and be credited monthly to the Cardholder’s account upon statement issuance.

  2. Cashback will be calculated per the following schedule (example categories, to be finalized by Nayifat):

Merchant Category Cashback %
Restaurant & Beverages 10%
Medical & Pharmacies 5%
Grocery 5%
TV & Online TV subscriptions 3%
Travel 2%
All Other Categories 1.5%

  1. Cashback amounts will be rounded down to the nearest Saudi Riyal.

  2. Cashback from supplementary cards will be aggregated with the primary Cardholder’s account.

  3. Cashback is not transferable, not exchangeable for other rewards, and not redeemable for cash outside the Program.

4. Exclusions

No cashback will be awarded on the following:

  • Annual card fees, finance charges, or late payment charges.

  • Cash advances, balance transfers, or loan installments.

  • Payments to government agencies, utilities, and fuel stations (unless explicitly included).

  • Payments through SADAD or similar bill payment services.

  • Insurance premiums, contributions, or similar products.

  • Transactions deemed illegal, unauthorized, disputed, fraudulent, or erroneous.

  • Wallet top-ups, quasi cash transactions, or any category Nayifat deems ineligible.

5. Forfeiture of Cashback

Cashback will be forfeited if:

  1. The Cardholder’s account is closed or canceled.

  2. The Card expires and is not renewed.

  3. The Cardholder breaches any terms of the Credit Card Agreement.

  4. Nayifat determines that the Card is not in good standing.

6. Fair Usage Policy

  1. The Cashback Program is intended for personal, non-commercial use.

  2. Transactions inconsistent with normal individual spending patterns may be disqualified.

  3. Nayifat reserves the right to claw back awarded cashback, suspend or terminate the Card, and report misuse to relevant authorities.

7. Validity of Cashback

  • Cashback rewards are valid for 36 months from the date of accrual.

  • Unredeemed cashback will expire after this period.

8. Governing Law

  • These Terms & Conditions are executed in both Arabic and English.

  • In case of discrepancy, the Arabic version shall prevail.

  • Any disputes will be referred to the competent judicial authority in the Kingdom of Saudi Arabia.