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:
Mentioned below is the detailed explanation of the different types of credit cards in UAE. The applicants can opt for one after making credit card comparisons in UAE.
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, 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 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 eligibility for the best credit card offers in UAE, 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 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
|Citi Rewards Credit Card||AED 8,000|
Citi PremierMiles Titanium Credit Card
Citi Life Platinum Visa Credit Card
Citi Life Platinum MasterCard Credit Card
|Emirates - Citibank Gold Credit Card||
Commercial Bank of Dubai e-Tijari Web Card
|Commercial Bank of Dubai Visa Platinum Credit Card||
|AED 9,000 - AED 15,000||Citi PremierMiles Signature Credit Card||AED 10,000|
|Commercial Bank of Dubai Titanium MasterCard||
|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
Citi Premier Credit Card
|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
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:
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