Credit cards are an invaluable tool for managing finances during times of cash crunch. Over the years, they have become an essential part of our lives, thanks to their convenient usage and simple repayment options.
Whether you are a native or a resident, you need to apply for the national identity card of your country of residence as it proves your identity as well as legal residency. In the UAE, the Federal Authority for Identity and Citizenship (ICA) issues Emirates ID which works as the national unified identity for everyone residing in the emirates. The ICA also provide various identification and citizenship-related services. As a national or a resident, you need to contact the Emirates ID centre to apply, renew, or replace your national identity card, if need be.
As per the UAE law, it is mandatory for all UAE citizens and residents to carry this card with them all the time. Besides verifying the identity of the cardholder, Emirates ID fulfils various other purposes. Usually, the ID card is used to facilitate transactions through both private and government services. Moreover, Emirates ID can serve as a travel document, a voter ID card, or a document to pass immigration at the gates of several airports.
Keep reading to know more uses, followed by how the Emirates ID is needed for Credit Score.
The Emirates ID is stored with up to 32 thousand letters of information where a part of the same is encrypted and accessible to authorised entities only. This ID card can be used from applying for a bank account to getting a new SIM card in the UAE. To help you better understand how you can get the best out of it, here are a few major uses of Emirates ID.
Emirates ID is a major and the most-popular identity verification document that protects you from theft and fraud in the UAE. The official entities like Real Estate Regulatory Authority (RERA), the Roads and Transport Authority (RTA), or Dubai Municipality require you to present your Emirates ID card to avail of any of their offered processes and services.
For instance, you can easily pay your traffic fines or renew your driving license using kiosks available at Roads and Transport Authority (RTA) offices by entering your Emirates ID details.
On various banking portals, you can easily use your Emirates ID details to get a quick credit history report. Similarly, banks and other financial authorities can also use their customers’ Emirates ID details to check their credit history, credit report, active loans, and much more in just a few clicks.
Apart from all the online benefits, Emirates ID also comes with certain offline ones. You can use your Emirates ID to pass immigration at any of the airports within or outside the United Arab Emirates. Additionally, Emirates ID cardholders can also avail of various e-gate smart services at leading airports including Dubai Airport and Abu Dhabi Airport.
Here is an added advantage: If you are holding an Emirates ID at the airport, you might be able to speed up passport control procedures and avoid waiting up in long queues.
Emirates ID can also be used as a medical card in the UAE. It comes in the list of mandatory documents for registering a medical insurance claim. Instead of getting the whole bunch of insurance documents, UAE citizens can simply carry their Emirates IDs to the hospitals. To access this feature, all they need to do is integrate their Emirates ID with their medical insurance plan by accessing their insurer’s medical insurance system.
Most insurers in the UAE have already started uploading their customers’ information to the same database so that hospitals and medical care centres can process their patient details via their Emirates IDs. Another good thing about the system is that the healthcare centres can also upload their customers’ medical reports on the same portal, which can be accessed later to know the medical history of a specific person.
While an Emirates ID can be used for almost everything, it also contains the criminal and legal activities of cardholders. An authorised official can simply go to the Services section on the Dubai Police Website to check the active police cases and criminal status of a specific cardholder if required, considerably simplifying the process for authorities as well.
The UAE visa status can also be checked by using the Emirates ID. Simply enter the Emirates ID number to check the details of the issued UAE visa. The expiration date mentioned on the Emirates ID is usually the same date until which the UAE visa stands valid.
The banks and other financial institutions in the UAE require the capacity to directly access the credit history of applicants. Al Etihad Credit Bureau, a well-known Public Joint Stock Company in the UAE, has recently launched a new system called Application-to-Application to help Telecom operators and financial institutions access the credit history of prospective borrowers by simply entering their Emirates ID number.
These institutions can use this information to complete credit report enquiries and provide or deny loan approvals. Access to such information benefits the lenders in different ways while reducing bureaucratic hassles for the customers as well.
Various banks and financial institutions can also utilise the information retrieved from Al Etihad Credit Bureau to customise their products, services, rates, and offers to serve their customers based on their preferences. The best part about the system is its automation feature offered to the financial organisation to process loan applications faster in an error-free manner. The corporations wanting access to the system simply need to apply for a subscription.
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