Having a credit card in today’s lifestyle has become a necessity. Using a credit card is convenient with its option of re-payment. Paying your credit card bills on time is a more essential thing in your monthly financial management. This is not only important for your bank to continue your credit but also important for maintaining your good credit score.
There are various ways of making credit card payments in the UAE through online methods, internet banking, mobile wallet payments or offline payments. Most of the credit card holders prefer credit card payments to be made on time. Here in this article, we discuss the best ways to make credit card payments in the UAE.
- Credit card payments with direct debit facility
- Online payments
- Payment through CCDM
- Payment through exchange house
1. Credit card payments with direct debit facility
You can make credit card payments from your bank account with the facility of direct debit. A direct debit facility from your bank account will enable you to not miss your credit card payment. Credit cards can be paid without any hassles with direct debit. You can set up the instructions to pay minimum balance or the full credit card amount. To avail this facility you can visit your bank branch or you can sign up for Internet Banking and set up your instructions.
If you want to make credit card payments through net banking you have to register your credit card with the bank. Suppose if you have your savings account in a bank and from the same bank you are using a credit card then you can instruct your bank to auto-debit each month from your savings account. If you do not have a bank account at your credit card issuer then you can add the biller of your credit card to your other bank account.
2. Online Mobile Payments
The facility of online mobile payments can be used for making credit card payments. The bank account that you have can be conveniently used for credit card payments from your mobile. You can make credit card payments from wherever you are with your mobile phone. It is an instant money transfer from your bank account to the credit card balance account.
If you want to make a credit card payment through mobile wallet, you have to download an application on your mobile. You have to login to your account and then enter your credit card details on your mobile wallet. Since your mobile wallet is linked to your savings account or to your debit card the payment will be made directly from your account. Mobile wallets provide various offers to customers for making payments.
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3. Payments through CCDM
Cash and Cheque deposit machines or CCDM are not only used for depositing cash but they can also be used for making a credit card payment. Cash deposit machines are located at Bank branches in shopping malls and various other primary locations across the UAE.
You can visit CCDM machine at your nearest location and make your credit card payment through cash or cheque. When you are making credit card payments through cheque make sure that you have three working days before the due date. This time period is required for clearing the cheque.
If you are making cash payment for a credit card due then you can directly deposit your cash in the CCDM for making the payment. Ensure you fill the right details while depositing cash on the Cash & Cheque Deposit Machine in UAE.
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4. Exchange House
Credit card payments can also be made through exchange houses. This facility is operated through the UAE fund transfer system.
You can also pay your bank Credit Card balance at exchange houses through the UAE Funds Transfer System (UAEFTS). The following is a list of participating exchange houses.
- Al Ansari Exchange
- Al Ghurair Al Ansari Exchange
- Al Rostamani International Exchange
- Hadi Express Exchange
- LM Exchange
- Emirates India International Exchange
- Alfa Exchange
Exchange houses charge a transaction fee for accepting credit card payments.
Tips to remember credit card payment due dates
- Set reminders for due dates on your calendar
- Instruct your bank for making auto debit from your account
- Pay all your bills at a time
- Change your due date on a particular date
- Arrange for sending an email to yourself few days prior to the due date
- Use a reminder app on your phone and set up a credit card payment reminder.
- Pay your bills on your salary date
- Ensure to check the fees and charges levied while making the credit card payments
The Internet facility has made payments much easier. It is quick and easily accessible and has faster processing. This facility can enable you to make payments from anywhere and at any time. Almost all the banks provide these credit card payment facilities. You can avail and enjoy the convenience of credit cards and make payments easily.
About the author
Vinay Kumar Goguru is a finance professional with more than 8 years of diverse experience as a researcher, instructor and Industry work experience with both public and private entities. Prior to MyMoneySouq, he spent 6 years in Berkadia, It's a commercial mortgage banking company. He has a "Doctoral Degree in Commerce" and two master's degrees with a specialization in Finance, one as Master of Commerce and other as Master of Business Administration. He has written several articles on personal finance, published by different International journals. He loves traveling, reading and writing is his passion. He has a dream of writing a book on his favorite finance topics.