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A credit card is a plastic card that allows its user to make transactions within the credit limit offered by the card provider bank. The funds borrowed on a credit card act as the loan amount and the credit limit as the maximum loan amount available. Credit cards in UAE offer a line of credit to be used in making a purchase provided the loan is paid back during a specific period. While using credit card, the cardholder needs to pay the minimum payment at least by the due date.
It is important to compare credit cards UAE before applying for one. Different kinds of credit cards may have different features. Some of the cards are free, whereas some of them charge an annual fee. Each available credit card option comes with its own set of advantages and disadvantages.
Therefore, making a comparison between the available options becomes essential. In this digital world, an applicant can compare different cards online without any hassle. Here are some of the basic factors for making the comparison.
➥ Minimum Salary (AED): 10,000 ➥ Annual Fee (AED): Free For Life
➥ Minimum Salary (AED): 8000 ➥ Annual Fee (AED): Free For Life
➥ Minimum Salary (AED): 8000 ➥ Annual Fee (AED): 400
➥ Minimum Salary (AED): 8000 ➥ Annual Fee (AED): 39
➥ Minimum Salary (AED): 5000 ➥ Annual Fee (AED): 315
➥ Minimum Salary (AED): 10,000 ➥ Annual Fee (AED): Free for Life
➥ Minimum Salary (AED): 5000 ➥ Annual Fee (AED): Free For Life
➥ Minimum Salary (AED): 15,000 ➥ Annual Fee (AED): 250
➥ Minimum Salary (AED): 10,000 ➥ Annual Fee (AED): 650
➥ Minimum Salary (AED): 6000 ➥ Annual Fee (AED): 200
➥ Minimum Salary (AED): 8000 ➥ Annual Fee (AED): 420
➥ Minimum Salary (AED): 12,000 ➥ Annual Fee (AED): 199
Bank | Credit Card | Minimum Salary (AED) | Annual Fee (AED) | Reward Value (AED) |
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Emirates NBD | ENBD Lulu Mastercard Titanium Credit Card | 5,000 | Free For Life | 5,286 |
CBD | CBD One Starter Visa Signature Credit Card | 8,000 | Free For Life | 1,020 |
Emirates NBD | ENBD Diners Club Duo Credit Card | 8,000 | 400 | 16,940 |
CBD | CBD One Visa Signature Credit Card | 8,000 | 39 | 3,840 |
FAB | FAB Cashback Credit Card | 5,000 | 315 | NA |
Deem | Deem Platinum Cash Up Credit Card | 10,000 | Free for Life | 13,128 |
RAKBANK | RAKBANK Red Credit Card | 5,000 | Free For Life | 4,821 |
Emirates NBD | ENBD Lulu Mastercard Platinum Credit Card | 15,000 | 250 | 21,166 |
Mashreq Bank | Mashreq Platinum Elite Mastercard Credit Card | 10,000 | 650 | 7,407 |
Deem | Deem Titanium Cash Up Credit Card | 6,500 | 200 | 4,333 |
CBD | CBD Super Saver Credit Card | 8,000 | 420 | 13,867 |
ADIB | ADIB Spice Credit Card | 12,000 | 199 | 7,176 |
There are different types of plastic money in the Emirates, each catering to a different type of card user. In order to find the most suitable one and consequently pick the best credit card offers in UAE, it is important to familiarize themselves with the various categories to better.
Here are the different types of credit cards offered in UAE:
In order to cater to customers from different income brackets, banks offer a variety of credit cards, each with its own eligibility criteria and credit limit. From free credit cards to premium ones, the following are the types of cards to be considered:
Air miles, also known as travel points and frequent flyer miles, are a part of a loyalty program offered by the air miles credit cards. Ideally, the cardholder accumulates a set amount of air miles based on how much they spend on the credit card which can be further redeemed for booking flight tickets for free. There are two types of air miles credit cards are available in the UAE. Airline Miles, which are airline-specific reward miles and the other one is Airline ME, which are not linked with any specific airline and can be redeemed in a number of ways.
Bank | Credit Card Name | Annual Fee (AED) | Minimum Salary (AED) |
---|---|---|---|
Deem | Deem Mastercard World Miles Up | 500 | 25000 |
Emirates Islamic | Emirates Islamic Bank Skywards Signature | 700 | 10000 |
RAKBANK | RAKBANK Emirates Skywards World Elite | 700 | 25000 |
FAB | FAB Etihad Guest Infinite Islamic | 2500 | 30000 |
Emirates NBD | Emirates NBD Skywards Signature | 700 | 15000 |
Regardless of the purpose of travel, airport lounge access credit cards can always come in handy. There are several credit cards available in the UAE that offer complimentary airport lounge access to its cardholder where they can relax and unwind before taking off.
Bank | Credit Card Name | Annual Fee (AED) | Minimum Salary (AED) |
---|---|---|---|
Mashreq | Mashreq Bank Solitaire | 1500 | 25000 |
Deem | Deem Mastercard Titanium Cash Up | 200 | 6500 |
Emirates Islamic | Emirates Islamic Bank Flex Elite | 700 | 25000 |
FAB | FAB Cashback Card | 315 | 5000 |
Citibank | Citibank Emirates Citibank Ultima | 3000 | 36750 |
A balance transfer credit card helps the cardholder to transfer the high-interest debt from one credit card to another with a low interest rate. Credit cards that offer a balance transfer facility can help the cardholder to save a lot on the high rate of interest by paying off the outstanding debt.
Bank | Credit Card Name | Annual Fee (AED) | Minimum Salary (AED) |
---|---|---|---|
CBD | CBD Super Saver | 420 | 8000 |
Emirates NBD | Emirates NBD Lulu Mastercard Titanium | Free for Life | 5000 |
FAB | FAB Elite Infinite | Free for Life | 40000 |
HSBC | HSBC Zero Credit Card | Free for Life | 10000 |
United Arab Bank | United Arab Bank Visa Titanium | 300 | 6000 |
Cashback credit cards pay its cardholder back some percentage of their purchases or transactions in cash. The bank rewards the card member for the purchase made using a credit card by offering rewards in terms of cashback. However, the cashback amount differs from one credit card to another depending on the type of purchases & monthly caps, plus factoring in minimum spends requirements.
Bank | Credit Card Name | Annual Fee (AED) | Minimum Salary (AED) |
---|---|---|---|
Mashreq | Mashreq Bank Cashback Card | Free for Life | 10000 |
Emirates Islamic | Emirates Islamic Bank Cashback Card | 350 | 8000 |
FAB | FAB Cashback Card | 315 | 5000 |
Citibank | Citibank Citi Cashback Card | 300 | 8000 |
ADCB | ADCB SimplyLife Cashback Card | Free for Life | 5000 |
ADIB | ADIB Cashback Visa Platinum | 1000 | 10000 |
Frequent travelers would already know how expensive it is to bear all the travel expenditures. From flight tickets to hotel bookings, travel expenses can be very high at times. Keeping travel needs in mind, some of the banks and financial institutions offer travel credit cards that are exclusively designed for avid travelers.
Bank | Credit Card Name | Annual Fee (AED) | Minimum Salary (AED) |
---|---|---|---|
ADCB | ADCB Traveller Credit Card | 1050 | 20000 |
Deem | Deem Mastercard Titanium Cash Up | 200 | 6500 |
Standard Chartered | Standard Chartered Platinum | 525 | 8000 |
CBD | CBD Smiles Visa Platinum | 366.45 | 8000 |
RAKBANK | RAKBANK Mastercard World | 750 | 20000 |
Who does not love watching a movie in the theatre after a long working week? What better way to enjoy this if one can avail free movie tickets or discounts on booking cinema tickets? To reward its customers, some of the credit card lenders or banks in the UAE have tied up with cinemas such as VOX cinema and Reel Cinema that enables the cardholder to avail great discounts and offers on movie tickets such as complimentary movie tickets, discount on tickets as well as refreshments. Getting cinema offers credit cards especially for a movie lover is not less than a treat since it is a smart way to save money on movie tickets.
Bank | Credit Card Name | Annual Fee (AED) | Minimum Salary (AED) |
---|---|---|---|
Emirates Islamic Bank | Emirates Islamic Bank Etihad Guest Platinum | 199 | 8000 |
FAB | FAB Cashback Card | 315 | 5000 |
Citibank | Citibank Citi Prestige Card | 1500 | 30000 |
CBD | CBD Super Saver | 420 | 8000 |
Standard Chartered | Standard Chartered Bank Manhattan Platinum | 525 | 8000 |
UAE is home to some of the finest golf courses in the world and also golf has become more than a sport in the country. It is no wonder that most of the banks and financial institutions offer golf credit cards that offer benefits to the customers who are either part-time or full-time golfers.
Bank | Credit Card Name | Annual Fee (AED) | Minimum Salary (AED) |
---|---|---|---|
Mashreq | Mashreq Bank Solitaire Card | 1500 | 25000 |
Emirates Islamic | Emirates Islamic Bank Skywards Signature | 700 | 10000 |
Citibank | Citibank Emirates Citibank Ultimate | 800 | 18000 |
Standard Chartered | Standard Chartered Bank Manhattan Platinum | 525 | 8000 |
Emirates NBD | Emirates NBD Skywards Signature | 700 | 15000 |
While plenty of luxury credit cards in the UAE come with an annual membership fee, there is a wide range of top tier credit cards that offer ample benefits and rewards without charging an annual membership fee for a lifetime. Such types of credit cards are known as free for life credit cards or lifetime free credit cards.
Bank | Credit Card Name | Annual Fee (AED) | Minimum Salary (AED) |
---|---|---|---|
ADCB | ADCB SimplyLife Cashback Card | Free for Life | 5000 |
ADIB | ADIB Value Card | Free for life | 5000 |
Mashreq | Mashreq Bank Cashback Card | Free for life | 10000 |
Emirates Islamic | Emirates Islamic Emirati Card | Free for life | 5000 |
Deem | Deem Mastercard Platinum Miles Up | Free for Life | 10000 |
Rewards & offers credit cards are one step ahead of the basic credit cards since they offer extraordinary benefits to its cardholders. Such type of credit cards usually provide rewards in terms of cash back, air miles, discounts, and other privileges for the amount that the card members spend with their credit card.
Bank | Credit Card Name | Annual Fee (AED) | Minimum Salary (AED) |
---|---|---|---|
Bank | Credit Card Name | Annual Fee (AED) | Minimum Salary (AED) |
Mashreq | Mashreq Bank Solitaire Card | 1500 | 25000 |
Emirates Islamic | Emirates Islamic Bank Skywards Signature | 700 | 10000 |
RAKBANK | RAKBANK Emirates Skywards World Elite | 700 | 25000 |
FAB | FAB Cashback Card | 315 | 5000 |
Deem | Deem Mastercard Titanium Cash Up | 200 | 6500 |
According to shariah law, Muslim people are not permitted to do business with any organization or take part in any sort of financial practice that levies interest i.e. Riba.
On the basis of Shariah law, few banks and financial institutions in the UAE offer Shariah Compliant Credit Cards. This type of Islamic credit card strictly follows shariah principles that charge profit rate instead of interest rate since Riba is strictly prohibited as per the shariah-Islamic law. However, Shariah Islamic credit card functions similarly like a traditional credit card but with slight differences in the offered benefits and features.
Here are some features to keep in mind while looking for this plastic money:
The applicant can opt for the card of their choice after making credit card comparisons in UAE on the basis of the following factors & benefits:
Here are some of the most commonly offered benefits:
The following factors could affect the chances of an applicant of qualifying for a credit card in UAE:
Note- The best credit cards in Dubai and the rest of the UAE have the strictest eligibility criteria. To increase the chances of credit card eligibility in UAE for the best card offers, the applicant ought to maintain a good credit history and bank balance.
The applicant can apply for a credit card either by visiting a branch of the preferred card provider or through the bank’s online portal (if available). Online comparison is the best way to opt for the right plastic card, where one can easily compare credit cards as well. Online credit card is the safest and less time-consuming process where the applicant can get additional offers from the respective banks.
The applicant will require the following documents to apply for a credit card:
Applying for a credit card in UAE can be a time-consuming process, especially with the similar rewards and rates of interest offered by different cards. Here, Policybazaar.ae helps the applicant to save time and zero down on the right card of their choice. Here is why they should opt for Policybazaar.ae to initiate their research:
The basic difference between any debit and credit card is that the former takes funds from the checking account of the card member, while the latter makes use of the money of the issuer and bills the cardholder later. The table below clearly describes the difference between a debit and a credit card.
Debit Cards | Credit Cards |
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Rewards Credit Card offers reward points on the frequency of swipe of your credit card. While the Cashback Credit Card offers a percentage of your purchase as cashback.
The most basic cashback offered is 1% of the purchase. You can use the cashback to pay off your annual fees or get it deposited in your account. One of the best cashback cards in the UAE is NAJM cashback Platinum Credit Card.
With the Rewards Credit Card, you can avail discounts on shopping and dining, gift cards, etc. One of the best Rewards Credit Card in the UAE is the Citi Prestige Credit Card.
Credit card specifically designed for travel benefits is called travel credit card. This type of credit card is suited for frequent fliers. With the travel credit card, a cardholder receives air mile points for every single AED spent. Not only that, the travel credit card offers lifestyle benefits too. Some of the other benefits of the travel credit card include shopping and dining discounts, discounts on hotels and flight tickets. The cardholder can also access the airport lounges. There are some additional benefits too.
No, not all credit cards have an annual and a joining fee. Recently, many financial institutions in the UAE have started offering Free for Life Credit Cards. However, those Credit Cards that are free for a lifetime have limited benefits and rewards. While the credit cards that have annual fees offer higher benefits and rewards too. All the credit cards also have monthly interest rates attached to them.
Most of the credit cards offer a no-interest period of around 50 to 55 days. If you are able to pay the complete balance outstanding during this period, then you won't be charged any interest.
In such a situation, you should arrange a meeting with an executive from your bank, then discuss the options available to you with them. You can perhaps convert the balance outstanding into a loan so as to pay off this balance on your card more quickly and at lower interest rates. If you are able to arrange this, then cut your card up and never make use of it again.
When the balance from 1 credit card account is transferred to the other credit card account, it is known as the credit card balance transfer. When this balance transfer process gets completed, the cardholder will no longer owe any amount to the original credit card issuer, instead, the cardholder will owe this debt to the second credit card issuer. Learn more about balance transfer credit cards here.
Generally, you can use your credit card for making purchases abroad, but with all the restrictions that are applied while using it domestically. You might have to pay a foreign transaction charge at a certain percentage of the value of every transaction, so the best option is to use cash wherever possible.
Keep in mind, in a few cases, these charges are applicable to purchases made using foreign currency, even though you are sitting at home. Example, in case you purchase something online and make the payment in dollars, you might have to bear foreign transaction charges, verify with your bank in case of any ambiguity.
Some credit cards available charge no foreign transaction fees and designed specially designed for those cardholders who travel frequently and often make use of their credit cards abroad.
More or less, credit cards can be used anywhere and anytime. They can be used for shopping online, at stores as well as on the call. However, keep in mind that all the credit cards are not accepted at all the retailers, as some banks might charge a high handling fee from the business, so many of these establishments will not accept payments made from the cards of these banks.
You might have some trouble in getting the best credit card deals in the case that your credit rating is limited or poor. In a few cases, your application might be rejected altogether and you will not be able to buy a conventional credit card.
In such cases, you should take into consideration a credit card that has credit building features. These credit building cards come with high APR and their credit limit is low because of which you will be able to make your credit score better with time as you keep using them. This, in turn, will make your credit ratings better in the future when you wish to get better credit. Check out some common myths about credit score.
Essentially, your credit ratings are your financial footprints. Credit ratings record all the past dealings you have done on credit, loan or any other such product. All the late and missed payments appear as a negative effect on your credit rating. This includes the missed payments for your subscriptions, utility bills and your library fines as well.
You can easily find your credit score on any of the agencies for credit checking active in the UAE.
In case you hold a non-existent or limited history through credit or loan, then your credit rating will become worse in this case.
While applying for a credit card, or any kind of loan for that matter, there will be an assessment of your credit rating. You can take out a better product if you have a better credit rating, vice versa. Here you can find the best way to improve credit score.
It is very simple and straight-forward to pay off the balance of a credit card and this can be done in many ways. It can be done over a phone call with the card provider, via a post through a cheque, through bank transfer, by setting up a debit directly to pay the minimum amount every month and the rest is to be done manually, or by visiting the branch and paying off your balance in person in the case where your card is issued by a bank or by a building society which has branches that you are able to visit.
The best option is paying off as much amount as you are capable of every month so as to avoid the payment of high interest on the balance remaining. Each credit card has a minimum amount which you should pay every month in order to avoid any hefty charges.
If in case you pay your credit card balance in full every month, you will not be charged any interest at all. When you do not pay the balance in full, then you will have to bear interest charges. If you hold a card that has an introductory zero percent interest period, in that case, until the time you maintain the minimum payment monthly in that duration, you will not have to bear any interest.
The documents related to any credit card include a summary box of the credit card. The summary box includes all the information that is relevant to your credit card along with the APR, the credit limit and the breakdown of all the reward schemes or fees associated with the card in detail. Although the summary box includes all the information you might need, however, in case there is any information you are unable to find, then you can contact your bank and they will be able to help you.
The due amount for payment is mentioned in your statement of a credit card as "Total Payment Due". By making the payment of this amount, either on or prior to the due date, you can avail the advantage of a no-interest period on the credit card. The amount due in the credit card bill includes all the unpaid balance carried from the last statement, expenses that are billed for the current period, interest charges, annual fees (one-time in a year), a joining fee (only when taking a fresh card) and a lot of other taxes and charges.
The Card Verification Value or CVV Number is a three-digit number printed on the backside of the credit card at the right corner of the signature panel. It is also called the CVV2 and is an important part of the process of verification, especially for online transactions. This number must not be shared with anyone.
There is a minimum amount that you are required to pay either on or prior to the due date. Generally, this amount is calculated as a certain percentage of the total amount that is due according to your recent card statement. By making the payment of the minimum amount due on time, you will not have to bear late payment fees. But, keep in mind that making only this minimum payment on the amount due is a rookie mistake. Check out more about monthly minimum payments and other important credit card terms.
It is just a matter of minutes when it comes to applying for a credit card online. When you are done with the process of online application and submitted it, you will be contacted by the executives from the bank and will be asked to submit a few supporting documents. As soon as your complete application form is received by the bank along with the required documents, it will take 2 weeks for your application to get processed. If the all the documents submitted by you are appropriate, the application has been approved, and all the verification is done by the bank, then your new credit card will be sent to you within seven working days. You will receive alerts on your application status timely through SMS on the mobile number mentioned in your form. You will also receive updates via emails which will be sent to your registered email ID.
The most convenient method of applying for a credit card these days is through the online banking option of the bank. You can apply for the credit card of your choice sitting at home, or being anywhere else in the world, however, in case you are not comfortable with applying online, then you can visit the brick and mortar branch of the bank, then fill and submit the application form for buying a credit card of your choice. Here are some simple steps to apply for credit card online.
Simply put, a credit card lets you spend credit amount that can be paid back later at the due date as pre-determined by the bank whereas, a debit card is attached to the bank account and lets you spend the existing amount in the account. In case of intended usage, the debit card must be used for both, in-store payments and for cash withdrawals, while, credit cards must be used for the former, however, the cardholder can make a certain amount of cash withdrawals using the credit cards (known as a cash advance) but at hefty charges.
Yes. You can sue your credit card to withdraw cash through an ATM in Dubai, however, when you do so, you will have to bear hefty cash advance charges. Hence, you should make such withdrawals only when it is completely necessary.
Whenever possible, you must make use of your credit card just for making purchases and not for withdrawing cash.