Best credit cards with 0 Annual fee*
The United Arab Emirates (UAE) is the home of ultramodern and major city of Dubai and, of course the tallest tower of the world, making it one of the most popular destinations worldwide. Many people from all over the world visit the country to enjoy the luxury shopping complexes and extravagant attractions the country boasts. But luxury does not come cheap, so it is worth knowing how the use of credit cards can help you.
The credit card industry is a huge business, and this business is dominated by a couple of companies. Digital payments are getting popular in UAE. For a lot of people including UAE residents, expats, and tourists, cash is dying. As per the latest data released by the Euromonitor International – a market research firm, the consumers in UAE are gradually living in a cashless world.
From paying for daily things, utility bills, restaurant bills, and footing the price of high-value purchases, expats as well as residents of UAE are using their credit cards.
The recent data from the Euromonitor International shows that the consumers of the country spent around $59 billion (which is Dh 216 billion) on products and services using only their debit and credit cards in the year 2017. The number of credit cards in UAE in circulation is considerably higher than the total number of people within the total banked population in the nation, making intensely-competitive surroundings in the payments and financial cards as the firm vie for space in the customer wallet.
The American Express Company is popularly known as Amex. It is an American multinational financial institution offering financial services worldwide. The bank was founded in 1850. The company was named as the world’s 23rd most valuable brand by Forbes in 2017. Amex had 112.8 million cards in force worldwide as of December 31, 2017.
American Express (Middle East) was established in 1977. They are a joint venture company, owned by American Express and Mawarid Investment Limited.
American Express Gold Card debuted in the year 1966 by the American Express Company in an effort to cater to the upper level of business travel. Amex Gold Card opens avenues to a world of exclusive travel benefits with complimentary to Airport Lounge. This card is a charge card and has no pre-defined spending limit to its users. Amex Gold Card is an ideal choice for high-spending foodies in the UAE. It might have a high yearly fee; it provides enough benefits to make it worth the price.
American Express Gold Card members do not have to pay any interest and have to pay off the due amount in full every month.
The key highlights of Amex Gold Card in UAE are as follows:
|Minimum Annual Income||Annual Fee||Rate of Interest||Salary Transfer||Cashback|
|USD 75,000 (employed) USD 100,000 (self-employed)||USD 175||0%||No||No|
With a multitude of exclusive and innovative features to aid card members get the maximum value for their money spent American Express Gold Card ensures unlimited and immediate returns for its members. The gold card members can easily manage the expenses, and save considerably, without having to run from pillar to post. Here’s a rundown to some standout features of American Express Gold Card:
American Express Gold Card members can enjoy the Membership Rewards programme. Under this programme, every time the cardholders make a purchase using the card will be rewarded with 1 Membership Rewards point on each USD 1 spent. In addition to this, the reward points earned by the card users will never expire. Hence, the cardholders can collect these points and redeem them for various travel and lifestyle rewards from any of the 12 hotel partners or airlines partners.
American Express Gold Card is the key to peace of mind while shopping or travelling. This is because AMEX protects the card members including the Supplementary cardholders with comprehensive insurance plans across the globe.
The card members can get:
The American Express Gold Card members can now register for convenient online access to their gold card account. The cardholders just have to visit their official website of American Express. With the online facility, the card members can also:
Earned points are Forever:
The points earned by American Express Gold Card member never expire. The card member can redeem these points.
Round the Clock Assistance:
The American Express Gold Card members get round the clock assistance through their call centres across the globe.
The Gold Card by American Express is a charge card promising an ocean of rewards and benefits to its users. The exclusive range of benefits and rewards offered by AMEX Gold card makes sure utmost convenience and huge savings. Some of the ground breaking benefits of the gold card from American Express are discussed below:
The American Express Gold Card member is insured against any loss in the sum of USD 350,000 – subject to Provisions, Exclusions, and Terms and Conditions of the Policy.
Schedule of benefits under this insurance:
|Type of Loss||Compensation|
|Loss of Life||USD 350,000|
|Loss of one foot and one hand||USD 350,000|
|Loss of both feet or both hands||USD 350,000|
|Loss of the entire eye-sight of an eye and the loss of one foot or one hand||USD 350,000|
|Loss of the entire eye-sight of both the eyes||USD 350,000|
|Loss of entire eye-sight on only one eye||USD 175,000|
In order to apply for American Express Gold Card, the applicant must fulfil the following parameters:
The details of fees charged on American Express Gold Card are as follows:
|Fees for Annual Card Membership|
|Membership Rewards Fee||USD 25*|
|Transaction Fees on Cash Withdrawal||USD 15 or 4% whichever is higher|
|Cash Withdrawal Limit||USD 2,000 per account for every 30 days|
|Charges on the Overdue Balance of the card||Monthly combined charge of 2.5% of all the due amount, with an additional late payment fee of USD 30|
|Conversion Processing Fee for non-billing currency transaction||2.8%|
|Charges for Dishonoured Cheque, direct debit or payment.||USD 25|
|Re-printing of the Statement Fee||USD 10 per printed statement|
|Summary of Insurance Coverage|
|Travel Inconvenience Insurance: Delayed flight departures, denied boarding, or flight cancellation||Up to USD 200|
|Loss of Baggage||Up to USD 1,000|
|Delay of Baggage||Up to USD 200|
|Missed Connections||Up to USD 200|
|Travel Accident Insurance||Up to USD 350,000|
The company offers Membership Rewards, which is the American Express Loyalty Programme. Here the card users can discover how this card can earn rewards for just using their card. Every time the cardholders spend on their American Express Gold Card they earn points that can redeem for exclusive rewards. Moreover, unlike many other loyalty programmes, the Membership Rewards points never expire.
The card members can earn Membership Rewards Points from American Express Gold Card by:
The card user of American Express Gold Card can redeem Membership Rewards points by:
The card members can enroll into Membership Rewards Programme as it is easy and simple. They can do this by following ways:
The applicant must have the following documents in order to apply for American Express Gold Card:
If the applicant is an employed individual, then the following documents are required to apply for Amex Gold Card:
The self-employed individuals applying for American Express Gold Card must present the following documents in order to apply for this card:
Applying for AMEX Gold card is easy and quick. One can apply for this card online through the official website of the Bank. In order to apply for Gold Card from American Express, the applicant must follow the steps mentioned below:
Step 1: Visit the official website of American Express (Middle East)
Step 2: Click on ‘The American Express Gold Card’ on the home page. The applicant will be redirected to the Gold Card page.
Step 3: Click on the ‘Apply Now’ tab on the right hand side of the page. The user will be redirected to a new page.
Step 4: On this page, the applicant has to fill in the ‘employment status’ whether the user is an employed individual or a self-employed person along with the ‘Country of Nationality’.
Step 5: Upload the necessary documents mentioned above (in the documents required section). The file size of each document must not exceed 1MB. These documents are to uploaded in .tif, .gif, .jpg, or .png format.
Step 6: Check all three options below the heading ‘Please confirm the following before you begin’.
Step 7: Click on ‘Start Application’ tab. The user will land-up on another page, which will have the form. The applicant has to fill in the form. The form has different tabs namely:
The card member of American Express Gold Card can pay the bill by:
The cardholders can settle their Monthly Statement of Account through Direct Debit Payment Service. Once the card members set their Direct Debit instructions, their monthly payment towards the card will automatically be made round the year. Signing up for this service is quite simple. The users have to deliver the duly filled Direct Debit Registration Form at any of the following addresses:
AMEX (Middle East) B.S.C. (c) – UAE
Postal Address P.O. Box 2390, Dubai, UAE
Open from 8:30 AM- 5:00 PM (Sun-Thu)
Customer Service: (+971) 44492222
Postal Address P.O. Box 806, Abu Dhabi, UAE
Open from 8:30 AM – 5:00 PM (Sun-Thu)
Customer Service: (+971) 25996299
The card members can send a cheque with Payment Slip at the bottom of their Card Statement. The user must mention their Account Number on the cheque and wait for 7 days for the payment to reach the Bank. The users can send their cheque to any of the following addresses:
PO Box 2390
PO Box 5990
Manama, Kingdom of Bahrain
In order to make use of this mode of payment for bills towards the card, the users have to login to the online services. The online services will allow the users to view the information required of the AMEX bank account to pay using wire transfer.
The cardholder can make use of the following to pay online:
The card members must have Emirates Bank Account so as to settle their card’s bill. They have to follow the steps below:
The cardholder must be Commercial Bank of Dubai account holder.
The cardholders must have HSBC bank account to settle their monthly bill.
American Express Gold Card members can pay the bills at any of the American Express offices in the UAE. They can make use of any of the following modes of payment:
Q1: What is One Time Payment?
Ans: There are payments, which you initiate for every individual transaction. The opportunity to control how much and when you pay for every bill is given by one-time payments.
Q2: For how many days I’ll get the complimentary retail insurance?
Ans: You’ll get the complimentary retail insurance for 90 days.
Q3: What does ‘No Pre-set Spending Limit’ means?
Ans: No Pre-set Spending Limit is not unlimited spending. The purchases made by you are approved depending on various factors like credit history, spending patterns, and various financial resources.
Q4: What is minimum age required to apply for supplementary cards?
Ans: Any family member above 15 years of age can be enrolled for up to 9 supplementary cards.
Q5: What is annual fee of the American Express Gold Credit Card?
Ans: The annual fee of American Express Gold Card is USD 175.