One of the most frequently asked questions among credit card applicants happens to be this — “Will I get a credit card even if I have a bad credit score or a monthly salary lower than AED 5,000?”
The straight answer to this question is that you cannot get a credit card with a low credit score or if your monthly salary is below AED 5,000. It’s also important to understand that even if your monthly salary increases but your credit score remains poor or bad, you will still not get a credit card.
Coming to credit score, it is a 3-digit number that determines your creditworthiness as a borrower. So if you have a poor credit score, major banks and other lending organisations in the UAE will not see youas a reliable borrower and will end up rejecting your application.
The best way possible to get a credit card in the UAE is to improve your credit score and bring it into the good credit score range, which is usually between 680 and 730. It is only then that you would get a good, reward-loaded credit card in the UAE. Furthermore, as we mentioned earlier, most banks in the UAE offer credit cards only to those who have a good aecb credit score.
Keep in mind that there are only a few banks that may provide alternative credit cards. Some of the alternatives available include -
Some banks in the UAE offer the option to apply for a secured credit card. When you apply for a secured credit card, you need to provide a certain amount as security — this amount gets refunded or adjusted later.
These credit cards work the same as conventional credit cards. The only difference here is that you need to pay a cash deposit right away to secure a credit line. If you miss out on your credit card bill payments, the credit card issuer will keep your deposit. Another pitfall of secured credit cards is that their interest rates are generally high.
At the same time, secured credit cards present a great option to improve your credit score. So keep track of your transactions and make timely bill payments to improve your credit score — only then can you get the best credit cards at a good credit score.
So far, we have understood that it is crucial to build a good credit score to get the best credit cards. A good score certainly opens many doors in terms of credit card options.
Before following some steps to improve your credit score, however, you should know that your credit score will not improve in a night. It requires a constant and disciplined lifestyle to improve your credit score.
With that clear, here are a few tips that can help you improve your credit score so that you can get the best credit cards in UAE -
Similarly, as their long history is valuable, closing old credit cards can hurt your score as it can reduce your overall age of credit. For this reason, you should only cancel cards that you don't use.
Once you improve your credit card, you can apply for any of the following best credit cards in the UAE -
|Features and Benefits
|Citibank Citi Rewards Credit Card
|Emirates Islamic Flex Credit Card
|Abu Dhabi Commercial Bank Talabat adcb credit card
|First Abu Dhabi Bank Infinite Travel Card
|RAKBANK World Mastercard Credit Card
You can enjoy various discounts with this card -
You cannot get a credit card with a low credit score, as most banks prefer to approve credit cards only for those who have a high or a good credit score. With a few straightforward steps as discussed in the article above, however, you can improve your credit score to get the best credit cards in the UAE.
Once you have achieved a good credit score, you can always apply for the best credit cards on Policybazaar.ae!