Terms and Conditions

Definitions

“Deem” means Deem Finance LLC.

“Card Currency” means the local currency of the United Arab Emirates: the Dirham (AED).

“Card/Credit Card” means, as appropriate, the VISA, Mastercard or American Express Credit Cards, issued by Deem to you or to any Supplementary Cardholder from time to time in the Card Currency.

“Card Account” means the Credit Card account opened by Deem in your name for the purpose of entering all debit and credit received or incurred by the primary and supplementary cards.

“Accelerated Joy Points” means the Joy points earned by the Customer on certain Accelerated Spend Categories.

“Accelerated Spend Categories“ means the merchant category codes that get accelerated Joy Points that are also detailed in the Joy Points table. The list of Spend Categories eligible for accelerated Joy Points is at the sole discretion of Deem. They may be increased, decreased or modified as determined from time to time by Deem.

“Deem Joy Points Program” refers to the loyalty program applicable to Deem Titanium Credit Cards, Deem Platinum Credit Cards and Deem World Credit Cards under which Customer earns Joy Points based on his spend.

“Earn Rate” means the rate at which Joy Points will accrue to the Customer for every retail transaction as detailed in the Joy Points table. Deem reserves the right to change the earn rate applicable at its own discretion.

“MCC” means a merchant category code defined by MasterCard/Visa to classify transactions. The categorisation of an MCC is done at the sole discretion of MasterCard/Visa in accordance with their respective policies and Deem has no responsibility or say in the same.

“Card Transaction” means any transaction carried out by you, using the Credit Card, the PIN or the Card number.

“Retail Transactions” means purchases made on the Deem Credit Card by the card member including the wallet transactions that excludes cash advances, quasi cash transactions, any refunds, any bank charge reversals, Balance Transfer transactions, utility bills, Credit Card payments, transactions done via Deem mobile/web application or any other transaction as determined by the bank from time to time.

“Eligible Transaction” means the retail Transactions, that qualifies for the Joy Points on the Eligible Card, which does not fall under the Non eligible Transaction defined under the Joy Points Reward clause below

“Non-Eligible transactions”: following transactions do not qualify for any Joy Points

• All transactions other than Retail Transactions.
• Cash withdrawals (through ATM’s, Banks, Exchange houses or through any withdrawal channels).
• Balance Transfers & Easy Cash facilities availed.
• Insurance/Credit Shield levied by the bank.
• Fees & Charges levied by the bank.
• Any adjustment entries (if any) levied on the card by Deem or any other transactions determined by Deem from time to time.

“Rewards Partners” means the independent third party designated on Deem’s reward portal to provide Deem Credit Card Customers with Rewards.

“Rewards” means specified goods and/or services provided by Deem or any Rewards Partner in exchange for Joy Points in accordance with the Joy Points terms and conditions.

“Spend categories” means a group of MCC, single or multiple. The list of Spend Categories is at the sole discretion of Deem and final and binding to the program. They may be increased, decreased or modified as determined from time to time by Deem.

“Sum of Cycle” means the total sum of all purchases done and posted on the Credit Card during a particular Credit Card statement period

“Joy Points” is the reward currency in terms of Rewards / Points for Deem Joy Points Program.