A credit card is the most convenient payment method and has become an important tool for everyone. It is the various credit card offers and benefits provided by the banks in UAE that is making them one of the preferred payment methods.
Each year there is more than a 50% increase in the number of credit card applications in UAE. According to a survey, in 2017 there was a 65% increase in the credit card applications in UAE compared to the previous year. But it is not that all the applications will get approved. Banks check several things while approving a credit card application like Debt Burden Ratio, credit score, minimum salary, nationality, etc. Amongst all, the first and foremost factor considered in the credit card application is the monthly salary/income of an individual.
Credit cards with minimum salary AED 5000
The minimum salary required for credit card in UAE differs with each bank. But generally, the minimum salary required for a credit card is AED 5000. There are several banks providing credit cards in UAE for a minimum salary of AED 5000.
Best credit cards in UAE for AED 5000 salary are:
- ADIB Cashback Visa Platinum Card
- FAB Gems Mastercard Credit Card
- FAB Standard Credit Card
- Emirates NBD Titanium Credit Card
Financial institutions are offering high benefits to each of these cards. They are not limited to basic features, they also offer good benefits such as cashback, dining discounts, travel privileges, movie discounts and much more.
Credit card in UAE for AED 3000 salary
There are no banks in UAE providing credit cards for AED 3000 salary. As already mentioned, the minimum salary for a credit card in the UAE is AED 5000.
Credit cards are the most beneficial tool when rightly used. It can also be your worst nightmare when you don’t understand how to use it. More than 60% of the credit card holders are not aware of the interest rates charged on their cards and around 20% of the credit cardholders in UAE does not know how missing credit card payments will affect them. This is landing most of the credit card holders into debts. It will have a bigger impact on individuals with a salary of less than AED 5000. Considering this, banks don’t provide credit cards without a minimum salary of AED 5000.
Maybe interested: Understanding credit card charges in the UAE