Credit Shield is a benefit available on your Credit Card which offers protection to you from the liability of paying the outstanding amount on your Credit Card in case of unforeseen eventualities.
Are all Riyad Bank credit cards covered by the Credit Shield program?
Yes, except for the following cards:
Is the Credit Shield program compatible with Sh’area principles?
Yes, as the Credit Shield Program insurance is Islamic Takaful.
Is there an age limit for coverage?
You should be aged between 18 to 80 years.
What am I covered for?
Credit Shield covers the following eventualities worldwide:
Accidental or Natural Death
Permanent Total Disablement (due to accident & sickness)
How much am I covered for?
You are covered up to a maximum of SR 300,000.00 (one of the highest coverage amount offered in the Kingdom.)
How is the Credit Shield fee calculated?
You would have to pay a nominal charge of 0.49% of your total outstanding statement balance. For example, if your outstanding statement balance is SR 1,000 then SR 4.90 will be deducted from your Credit Card account as payment to cover your balance.
What if I don’t use my Credit Card for a specific month, will I still be charged for Credit Shield?
No, you will not be charged for as long as your outstanding credit card balance is zero.
How do I opt out of the Credit Shield program?
Simply call the Riyad Bank Call Center on 8001242225 and request to have.
Along with my credit card would the additional cards be also covered by the Credit Shield Program on enrollment?
Yes. All Credit Cards under your account will be automatically covered under the Credit Shield Program.
What is the process for submitting claims under Credit Shield?