BSF Almosafer Visa Credit Card Launches in Saudi Arabia

BSF has partnered with Almosafer and Visa to launch the BSF Almosafer Visa credit card, a new co-branded offering designed for travel spending. The card provides up to 20% back in Almosafer Points on travel bookings, with each point valued at one Saudi Riyal, according to a statement released Wednesday.

The card eliminates foreign exchange fees on international transactions and offers 5% back in points on shopping and dining purchases. Customers can redeem points across Almosafer’s platforms for flights, hotels, and activities with no blackout dates.

Key Takeaways

20% back as Almosafer Points on travel bookings through Almosafer platforms
5% rewards on shopping and dining purchases
Zero foreign exchange fees on international spending
One point equals one Saudi Riyal (1:1 redemption value)
Available in Visa Signature and Visa Infinite variants
First-year annual fee waived; application via BSF Mobile app

Card Benefits and Structure

The BSF Almosafer Visa credit card offers a transparent points system where one point equals one riyal, allowing cardholders to calculate redemption value without conversion rates. According to BSF, this structure differentiates the product from traditional rewards programs that use variable point valuations.

The card’s travel benefits include up to 20% back in points on bookings made through Almosafer’s platforms. Additionally, everyday spending on shopping and dining earns 5% back, converting routine purchases into travel rewards.

Foreign exchange fees, typically 2-3% on international credit card transactions, are waived for cardholders. The annual fee is waived for the first year.

Application and Availability

Customers can apply for the card through the BSF Mobile app without visiting a branch. The application process is designed for completion within minutes, according to the bank.

The card is available in two variants: Visa Signature and Visa Infinite. Both versions provide payment services domestically and internationally with Visa’s global acceptance network.

Industry Perspective

“At BSF, we believe our role goes beyond offering traditional financial products; we strive to build integrated experiences that bring real value to our customers’ lives,” said Mohammed Al Sheikh, Chief Personal Banking Officer at BSF.

Muzzammil Ahussain, CEO of Almosafer, which operates as part of Seera Group, stated: “This card has been designed to reflect the real needs of Saudi travelers, from the ease of earning and redeeming points to real financial savings on international spending.”

Ali Bailoun, Regional General Manager for Saudi Arabia, Bahrain and Oman at Visa, noted that the collaboration “combines exclusive travel benefits and everyday rewards with Visa’s secure technology and global acceptance.”

Market Context

The launch adds to the growing co-branded credit card market in Saudi Arabia, where financial institutions are partnering with lifestyle brands to capture consumer spending. The card targets Saudi travelers, a demographic that has expanded as the Kingdom develops its tourism sector under Vision 2030 initiatives.

Almosafer operates across online platforms, call centers, WhatsApp, and retail locations, offering booking services for over 1.5 million properties and more than 450 airlines globally.