ADIB Credit Card
ADCB Credit Card
Emirates NBD Credit Card
Citibank Credit Card
ADIB Personal Loan
ADCB Personal Loan
Rakbank Personal Loan
Emirates NBD Personal Loan
Dubai Islamic Bank Personal Loan
ADIB Home Loan
ADCB Home Loan
HSBC Home Loan
NBAD Home Loan
Dubai Islamic Bank Home Loan
ADIB Car Loan
HSBC Car Loan
Standard Chartered Car Loan
Emirates NBD Car Loan
Al Hilal Bank Car Loan
ADCB Business Loan
United Arab Bank Business Loan
Rakbank Business Loan
Union National Bank Business Loan
CBD Business Loan
Oman Insurance Company Life Insurance
Zurich Insurance Life Insurance
AIG Insurance Company Life Insurance
AXA Gulf Life Insurance
MetLife Life Insurance
Required Minimum Salary
ADIB Cashback Visa Platinum Card
ADIB Value+ Card
AMEX The American Express® Card
Citibank Citi Premier
ADIB Etihad Guest Classic Card
ADIB Spice Card for UAE Nationals
ADIB Etisalat Gold Card
United Arab Bank Infinite Card
FGB Ferrari Signature Credit Card
HSBC Black Credit Card
Credit Cards need no introduction. Almost everyone has availed the benefits of using a Credit Card at least once in their lifetime. For those who haven’t, Credit Cards allow you to purchase goods or services on credit for a small fee. It is an alternative for cash and enables you to carry out internet-based and shop-based transactions with ease. UAE also offers Shariah compliant Credit Cards based on ‘Bai Inah’, ‘Wadiah’ and ‘Qardhul Hassan’. The high-cost of living in UAE makes Credit Cards a must-have financial tool in every household.
Over the years, Credit Cards have evolved to suit each of your spending needs. Some highlights are:
Credit Card companies recognize your needs and offer cards well-suited to your spending habits. This has led to a plethora of cards available in the market in UAE. Let’s look at some variants available:
There is a growing concern about various fees charged by Credit Card companies. While some of these are unavoidable, being meticulous with your finances can help avoid most of these charges. Here is a look at a majority of those fees:
UAE spoils you for choices. It is true for Credit Cards too. There is a broad range of cards each available with its unique features. Before applying for a Credit Card, be sure that you have picked up the card best suited to your needs. Here are some tips:
As explained above, there are different types of Credit Cards catering to different needs. Assess what you are looking for and choose accordingly.
Once you have decided on the type of card, you need to compare the fees and associated charges. Annual fees and rate of interest are the primary areas that need to be focused on.
Every card can differ in benefits when offered by different banks. Make sure that you carefully read through all the benefits it offers before applying.
Does the issuing bank have ATM’s close to your place or work/residence? Are the internet banking and mobile banking services in sync with your needs? These may not sound very important but will go a long way in ensuring that you have a great experience using your Credit Card.
You need to be at least 21 years of age to apply for a Credit Card in UAE. You must have proof of regular monthly income. Every bank has its own criteria which need to be checked individually.
While every bank may have its own set of documentations required to approve an application for a Credit Card, below is a list of basic documents needed:
You must ensure that these documents are available with you before you approach a bank for a Credit Card. Apart from these, banks may choose to ask for more documents to ascertain your credit viability.
Remember, Credit Cards can be your best friends or worst enemies. They are financial tools designed to make life easier if used correctly. With an increase in the number of spending avenues due to growing number of shops online, you must exercise optimum control on your spending to make the best of this tool.