How to Get a Credit Card for a Salary Below AED 3000 in UAE?
| Published: 10 August 2021 | Last Updated On: 24 September 2021
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A credit card is one of the most beneficial banking products that allows you to expend as per your preference and pay for the purchase later. The pre-approved limit is like a debt that you can take any time without additional formalities. However, before you can purchase a credit card, you require fulfilling several criteria to be eligible. One of the requirements of credit card companies is the minimum salary. The credit card providers in the UAE do not offer credit cards to employed individuals if their salary is less than AED 5,000. Similarly, if you have a salary of less than AED 3,000, you are not eligible to get a credit card in the UAE. However,
Ways to Get a Credit Card with Minimum Salary 3000 in UAE
So, if you fall within this earning bracket then you can think of resorting to following ways:
Some banks offer a credit card with a personal loan. One such bank is RAKBANK. When you take a personal loan from RAKBANK, the bank offers you a complimentary credit card with zero annual fees and low interest rates. This would serve two purposes. Firstly, it will allow you to have some extra money through a personal loan. Secondly, you will receive a credit card. However, with a minimum salary of AED 3,000, it might be difficult for you to procure personal from RAKBANK.
Several financial institutions and banks let you apply for a credit card even if you do not meet the minimum salary criterion if you have a fixed deposit with the bank. Using this facility, you can apply for a credit card even with a minimum salary of AED 3,000.
How does it work?
While offering you a credit card, the bank demands a minimum salary requirement to ensure that you can repay the debt later. However, if you do not have a minimum salary, the banks seek financial collateral to ensure that the debt can be repaid. When you open a fixed deposit account with a bank, the bank has a collateral amount to pay your debt in case you are not able to pay them. Therefore, the fixed deposit balance acts as a security deposit that is accessible to the bank. If you are looking to buy a credit card with a minimum salary of AED 3,000, you can explore this option to get a credit card.
Which Banks are offering the Credit Card on 3000 Salary?
The National Bank of Fujairah (NBF) has created an alternative for credit card buyers to receive an NBF Classic credit card in UAE if they have an NBF Fixed Deposit account.
Features and Benefits of NBF Classic Credit Card
0% Interest Rate of Installment Plans
Flexible repayment option
Balance transfer facility
EZ draft facility
Cash Withdrawal facility
Direct Debit Facility
SMS Alert Service
60% Cashback on movie tickets at Roxy, VOX, and Reel Cinemas
Savings Account is one of the best ways of not only saving your money and earning interest on your savings but also obtaining a credit card with a minimum salary of AED 3,000. Some banks in the UAE allow you to apply for a credit card if you have deposited a collateral amount in the bank. This collateral amount is usually the savings account where you have deposited some amount.
How does it work?
When you open a savings account in a bank, the bank already possesses some security amount on your behalf which it can use in case you are not able to repay your debt. The credit limit on your credit card will be the amount you have in your savings account. Let us say you have a minimum salary of AED 3,000 in the UAE. Every month you saved AED 1,000 to open a savings account. Three months later, your bank account has savings of AED 3,000. Now let us say that after three months you decide to apply for a credit card against your saving account balance. The bank will accept your application and will offer you a credit card with a limit of AED 3,000. In case you fail to pay the debt on your credit card, the bank will use the collateral amount i.e. the savings account balance to make the debt payment.
Top 10 Credit Cards on Below AED 3000 Salary in UAE
Even though there are some indirect methods of purchasing a credit card with a minimum salary of AED 3,000, you are advised to rather wait for your salary to touch AED 5,000 mark to get the best credit card in UAE easily. It is always better to opt for the easier choice where you can comfortably receive the credit card without any hassle. Once you reach your goal of AED 5,000 salary, you can consider this list of top 10 credit cards with AED 5,000 salary in the UAE:
No credit card provider offers credit cards at a minimum salary of AED 3,000. However, there are some lateral methods that you can resort to and explore your credit card options. However, you are advised to wait for your salary to be AED 5,000 at least so that you can get a credit card directly and enjoy the true benefits of having one. To find more credit card options, you can visit the credit card section of our website and find exciting offers on credit cards of your liking.