Commercial Bank of Dubai is one of the leading banks in the MENAT region providing innovative finance and banking solutions. Along with numerous banking products and services, CBD provides a wide range of credit cards to cover your everyday financial needs. CBD credit cards offer numerous shopping, travel, entertainment, lifestyle and dining benefits. If you are planning to apply for a CBD Bank credit card, you need to meet the pre-requisite eligibility criteria as laid down by the bank. It includes age, salary and residency requirements along with your financial stability and credit score. The article below pens down various CBD bank credit card eligibility criteria and document requirements.
Each CBD credit card has its own specific eligibility criteria. While applying for a credit card, you need to verify your eligibility to keep the process hassle-free. However, a few common eligibility criteria apply to all CBD credit cards. The following are the common CDB credit card eligibility criteria in the UAE:
Age - The minimum age required to get a CBD credit card is 21 years. You may also need to satisfy the upper age limit of 65-70 years depending on your employment and financial status.
Monthly Income - The bank also lays down the monthly income requirement based on your profession. A salaried individual needs to have a minimum salary of AED 8,000 per month to obtain a CBD credit card. The criteria, however, are different for self-employed individuals and also depend on the bank’s approval.
Residency - Most CBD credit cards are available to UAE nationals and residents with visa permits. Both UAE residents and citizens have to satisfy their eligibility criteria and produce the required documents to get CBD credit cards.
Credit Score - AECB credit scores are one of the most important eligibility criteria that the banks in the UAE verify before offering credit cards. If you have a “good” credit score, which is categorised above 580, you can conveniently apply for a CBD credit card.
Note: The eligibility criteria for a specific card may vary depending on your financial condition and monthly income.
Eligibility Criteria for Top CBD Credit Cards in UAE
Following are the specific eligibility criteria for top CBD credit cards in the UAE.
Age- The applicant needs to be between the age of 21 years to 65 years.
Nationality - UAE nationals and residents with a valid visa permit
Monthly Salary - AED 12,000 or above
Documents Required for CBD Credit Cards
Once you have verified your eligibility for a specific CBD credit card, you need to submit the required documents during the CBD credit card application process. Following are the generic documents you need to submit for obtaining a credit card.
Documents Required for Salaried Individuals
Following are the documents required for a salaried individual to apply for a CBD credit card:
A valid Passport ID for record and verification
A valid Emirates ID for UAE nationals as well as residents
Utility bill or lease agreement for address proof
Salary certificate or salary slip from the current employer
Last 3-6 months’ bank account statement,
Documents Required for Self-Employed Individuals
Following are the documents required for a self-employed individual to obtain a CBD credit card:
A valid passport identification,
Emirates ID if you are UAE national or residents
Individual and Business bank account statements
A valid trade license issued by the Department of Economic Development (DED)
A copy of the Power of attorney (if applicable)
Note - Depending on the CBD credit card, you may need to submit additional documents.
Factors Affecting CBD Credit Card Eligibility
CBD credit card eligibility depends on several factors and you need to consider them while applying for a specific card. Following are some of the factors affecting your eligibility criteria:
Credit Score - The bank verifies your creditworthiness through credit score hence, it is crucial to maintain a good AECB credit score to obtain a CBD credit card. With a decent credit score, you reflect a lower risk to the bank and can easily acquire a credit card.
Existing Credit Card Balance - Holding multiple types of credit tools can be beneficial for obtaining a CBD credit card since it shows you can manage debt comfortably. However, you need to use the credit cards responsibly and repay your outstanding amounts timely to maintain a healthy credit score. Defaulting on credit card bills can work against you and the bank may reject your credit card application.
Stability of Your Employment - Employment stability is an important factor considered by banks when offering you a credit card. With a stable job at an established firm, you present a lesser risk to the bank and can easily manage to repay your credit card debts. On the other hand, if you have an unstable job, the banks consider you at a greater risk of defaulting on the card payments.
Settled Accounts - If you undertake a credit account settlement, you may find it difficult to obtain a new credit card. If you have fallen deep into a credit card debt, the bank may close your credit account at a lower settlement amount than the total debt. However, this becomes unfavourable if you are willing to apply for a new credit card.
Age - CBD bank accepts credit card applications from individuals between the age range of 21 to 63 years for UAE residents and 21 to 65 years for UAE nationals. Any individual out of this age range won’t be entertained.
How to Improve Your CBD Credit Card Eligibility?
In case you don’t satisfy the eligibility criteria, CBD bank is likely to reject your application. However, you have a fair chance of improving your credit card eligibility if you follow the steps mentioned below:
Avoid Sending Multiple Credit Card Applications - You need to be careful while applying for credit cards and the number of applications you make. Multiple applications at various credit card providers is not a healthy practice and can lead to rejected credit card applications. You need to choose the specific credit card that suits your requirements and wait for approval patiently before moving forward with another application.
Make Timely Repayment of your Credit Card Bills - Defaulting on credit card bill repayment can impact your credit score negatively and reduce the chances of CBD credit card approvals. Therefore, always maintain timely repayments of your credit card bills.
Mention All Your Income Sources in the Application - The bank checks your capability of repaying the credit card bills. Mentioning all your income sources will take the bank into confidence that you are mighty capable of repaying your bills. Multiple income sources also enhance your income to debt ratio and help in acquiring a CBD credit card easily.
Q1. I am 77 years old Am I eligible for a CBD credit card?
Ans. CBD bank accepts applications from individuals between the age range of 21 to 65 years old. So, you may not be eligible to receive a CBD credit card. However, you can contact the bank and clarify your eligibility for a specific credit card.
Q2. What is the minimum salary required to be eligible for a CBD credit card?
Ans. You need to have a minimum salary of AED 8,000 to obtain a CBD credit card. The minimum salary requirements may further increase as per the credit card you choose.
Q3. Am I eligible for a credit card if I am an ex-pat in the UAE?
Ans. You may obtain a CBD credit card as an ex-pat as long as you satisfy the rest of the eligibility criteria and carry the mandatory documents.