Launched exclusively in the US in the year 1958, Bank of America developed the first modern credit card. This was soon followed by the launch of the first credit card outside America, in the UK approximately in the year 1966, by Barclaycard. Credit cards in UAE took a while to gain popularity. But once they did, adoption rates soared exponentially.
Then came the question of standardization. Whether one was using a credit card in Dubai or using it anywhere else in the world, changes to the account balance would have to be consistent. This lead to the creation of payment networks which are categorized into four major categories:
Often, people confuse these payment networks for credit cards. However, it is important to know that payment networks simply facilitate the transactions between a merchant and cardholder. For example, a Citibank credit card in UAE may use a Visa payment network, or a MasterCard one. But, the fees and interest applicable to the credit card would still be paid to Citibank, not to Visa or MasterCard.
Soon after the launch of credit cards, came ATM technology. The earliest cash dispensing machine was developed in 1967 by Barclays Bank. ATM machines further required standardization of credit card dimensions, which is how we finally landed at an 85.60mm X 53.98mm size. Conduct as many credit card comparisons in UAE as you would like and you are sure to come up with the same dimensions every time.
The influx of credit cards in Dubai has left customers with many questions, such as:
For the A-Z on the best credit cards in Dubai, online credit card processes and everything credit card related, just read on.
When an individual is looking for the best credit card in UAE, it is important not to rush the selection process. They ought to know the various features and terms associated with the credit card before they make the final decision. Conduct a thorough credit card comparisons in UAE based on these features and benefits helps to come across the best credit card. Here are some features and benefits to keep in mind for searching the best credit cards.
Types of Credit Cards - There are different types of credit cards in UAE, each caters to a different type of accountholder. In order to understand which one suits the requirements and consequently pick the best credit card offers in UAE, it is important to familiarize yourself with the various categories to better.
Here are the different types of credit cards offered in UAE:
The applicants can opt for one after making credit card comparisons in UAE on the basis of the following factors & benefits.
The Credit Limit - The defining characteristic of a credit card is its credit limit. The credit limit is the maximum amount of money the cardholder can spend using the credit card. This limit can vary depending on the card account holder opts for. The best credit cards offer the maximum credit limit. Banks offer different types of credit cards in UAE. Different cards attract a different rate of interest, late fees, etc. It is important to compare credit cards in UAE on the basis of this factor.
Note- Some credit cards have a variable spending limit. The limit is decided according to the spending power of the account holder rather than a pre-fixed limit.
Note- Before you apply for a credit card in Dubai and entire UAE, read the terms and conditions carefully.
The account holder must compare credit cards on the basis of an annual percentage rate.
Note- Most of these credit card benefits are not applicable to free credit cards. It is a good idea to compare credit cards in UAE on basis of the offered benefits as well.
Here are some of the most commonly offered benefits:
Banks charge a certain percentage of a commission on a transaction made using the credit card. In return, the bank offers the cardholder rewards and loyalty points as per the applicable terms and conditions. In order to cater to accountholders from different income brackets, banks offer a variety of credit card, each with its own eligibility criteria and credit limit. From free credit cards in UAE to premium ones, credit cards in UAE generally fall under one of the following types:
Note- Basic credit card is often confused as free credit cards in UAE.
Transferring the remaining debt to this other card could not only mean saving a large amount on interest but also allow the customer to merge all debt into a single account and thus make it easier to manage. This is what we call a balance transfer credit card. Note that certain credit cards in UAE charge a transfer fee, which is a specified percentage of the total transfer amount.
The full benefits of such a credit card are usually unlocked only after spending a pre-decided amount per year. This is why premium credit cards are commonly opted by high earning accountholders. As one of the best credit cards available, a good credit history is a pre-requisite to opt for these cards.
Every cardholder has their own individual requirements. The best credit cards enable cardholders to save through various credit card offers in Dubai or entire UAE and overseas without having to spend a high amount of money on fees and interest.
In order to opt for a credit card, it is a must for the account holder to meet the eligibility criteria. Banks thoroughly consider several factors before offering a credit card to the account holder. The following factors could affect the chances of an account holder of qualifying for a credit card in UAE:
Note- The best credit cards in Dubai and the rest of UAE have the strictest eligibility criteria. To increase the chances of credit card eligibility in UAE for the best credit card offers, the applicants ought to maintain a good credit history and bank balance.
Mentioned below is the list of banks offering credit cards in UAE. Before zeroing down on a credit card, compare credit cards in UAE.
The banks mentioned above have consistently provided customers with the best credit cards and credit card offers in Dubai and the entire UAE, maintaining low interests and annual fees. While the Commercial Bank of Dubai started off as issuing credit cards in Dubai exclusively, it has amassed a global following over the last decade. Whereas, Citibank’s online credit cards offer great incentives for customers all over the world.
While everyone wants the best credit card in UAE, not everyone is eligible for the same. Credit cards in UAE are offered on basis of a minimum monthly salary. Let us take a look at some viable credit cards, filtered by the different brackets of monthly salary.
| Salary Bracket | Credit Card Name | Minimum Monthly Salary |
| AED 3,000 - AED 8,000 | Citi Simplicity Credit Card | AED 5,000 |
Citi Cashback Credit Card |
AED 8,000 | |
| Citi Rewards Credit Card | AED 8,000 | |
Citi PremierMiles Titanium Credit Card |
AED 8,000 | |
Citi Life Platinum Visa Credit Card |
AED 8,000 | |
Citi Life Platinum MasterCard Credit Card |
AED 8,000 | |
| Emirates - Citibank Gold Credit Card | AED 8,000 |
|
Commercial Bank of Dubai e-Tijari Web Card |
AED 8,000 | |
| Commercial Bank of Dubai Visa Platinum Credit Card | AED 8,000 |
|
| AED 9,000 - AED 15,000 | Citi PremierMiles Signature Credit Card | AED 10,000 |
| Commercial Bank of Dubai Titanium MasterCard | AED 10,000 |
|
| Commercial Bank of Dubai Visa Signature Credit Card | AED 10,000 | |
| Commercial Bank of Dubai Super Saver Credit Card | AED 10,000 | |
Emirates - Citibank World Credit Card |
AED 12,000 | |
Citi Premier Credit Card |
AED 15,000 | |
| AED 16,000 - AED 20,000 | Citi Life Visa Infinite Credit Card | AED 18,000 |
| Emirates - Citibank Ultimate Credit Card | AED 18,000 | |
| Commercial Bank of Dubai Visa Infinite Credit Card | AED 20,000 | |
| AED 20,000+ | Citi Prestige Credit Card | AED 30,0000 |
| Citi PremierMiles Elite Credit Card | AED 30,0000 | |
| Emirates - Citibank Ultima Credit Card | AED 36,750 | |
Commercial Bank of Dubai World MasterCard |
AED 40,0000 |
One can apply for a credit card in UAE in one of two ways; either by visiting a branch of the preferred credit card provider or through the bank’s online portal (if available). The best way to decide which card to opt for is to compare credit cards and identify which one suits the applicant. After that, the applicant can apply for a credit card in UAE through the preferred mode.
Note- Not only online credit card applications are quick and convenient, but most banks also offer incredible incentives for online applications.
The applicant will require the following documents to apply for a credit card in UAE:
Applying for a credit card in UAE can be a time-consuming process. The choices are endless and a long search to find the best credit card in UAE is just further complicated by surprisingly similar rewards and rates of interest.
Policybazaar.ae helps you to save time and zero down on the credit card of your choice. Here is why you should opt for Policybazaar.ae for your credit card:
How will I be able to own a credit card without paying any interest?
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.
What can I do in a situation where I am struggling to make the minimum payment due on my credit card?
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.
What does a Credit Card Balance Transfer mean?
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.
Will I be able to use my credit card abroad?
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.
What can I use my credit card for?
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.
If my credit score is poor, can I still get a credit card?
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.
What does my credit rating mean?
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.
How can I pay off the credit card I own?
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.
Do I need to pay interest on all purchases that I make using my credit card?
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.
How can I know the credit limit other such information about my credit card?
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.
How can I find out the due amount on my credit card?
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.
What does the CVV number on my card mean?
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.
What does the Minimum Payment Due mean?
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.
Can I use my credit card for cash withdrawals from an ATM in Dubai?
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.
How much time will it take for me to apply for and receive a Credit Card?
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.
Should I apply for a credit card online or visit a branch?
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.
What is the difference between a credit card and a debit card?
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.
