How to Get a Credit Card for a Salary Below AED 4500 in UAE?
By Shivam Sharma
| Published: 26 October 2021
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A credit card comes in handy when you need extra cash for shopping or paying off energy bills since it allows you to acquire credit quickly. You may use a credit card to spend money today and pay it back later. Because of the benefits that credit cards provide, many individuals in the UAE have started using them. However, many people are unable to meet the credit card application's minimum wage requirements. According to bank policy, no credit card provider would offer a card to an individual earning less than AED 4,500 per month. To acquire the best credit card in the UAE, you must have a minimum salary of AED 5,000. If your minimum wage in the UAE is less than AED 4,500, you will not be able to obtain a credit card. However, you may be able to acquire a credit card in one of the many different ways given below with an income of less than AED 4,500.
How to Get a Credit Card in the UAE for AED 4500 Minimum Salary?
Investment in Al Awwal Certificates
Al Awwal certificates combine investment and savings into a single document. Experts recommend investing in Al Awwal certificates rather than creating a piggy bank. You must bring your Emirates ID, passport, and resident visa to a bank office to purchase these certificates. You can start with a small investment and then increase your investment if you are happy. The only thing to keep in mind is that you must have a monthly income of at least AED 4500 to be eligible for a credit card. You may think of it as a credit card for a salary of 4500 or a low-salary credit card.
Contact the Financial Institution's Sales Department
When you have a savings of AED 4500, the financial institution's sales staff will not call you. You'll have to dial that number and ask for a credit card for yourself. You will be granted a credit card if you have sufficient money and the appropriate documents. The bank will ask you for your passport, Emirates ID, bank statement, employment proof, and other papers.
The Waiting Time
All you have to do now is wait for your credit card to come when your application has been approved. In most cases, credit cards are processed within seven days. However, owing to courier delays, your credit card may arrive later than the scheduled delivery date. After the credit card has been couriered, the bank is unable to intervene.
Taking a Personal Loan
With an income of AED 4,500, many of you are undoubtedly wondering how a personal loan may help us get a credit card. Let us inform you that certain banks in the UAE will offer you a credit card when you take a personal loan. RAKBANK, for example, offers a no-fee credit card with no application charge and no annual fee as well as RAK personal loans at low interest rates. This allows you to get a credit card for free while still getting money to pay other expenses. However, you should think about whether taking a personal loan just to get a credit card is a good financial decision. Due to the minimum wage limit, you may find it difficult to acquire a personal loan from RAKBANK with a minimum salary of AED 4,500.
Using a Fixed Deposit Account
A fixed banking account enables you to generate a high interest rate on your savings while still enabling you to utilise your credit card in certain circumstances. You can apply for a credit card regardless of your wage if you have a fixed deposit account with a financial institution or bank in the UAE. You can apply for a credit card through a fixed deposit account with a minimum salary of AED 4,500.
Spend your credit card carefully now that you have it. Keep in mind that your monthly expense remains the same despite the increased credit limit. Don't go overboard with your spending. You will only end up in debt if you spend more than you make. It's easy to fall into debt, but it's far more difficult to get out of it if you can't keep track of your credit card spending. Pay close attention to the small things. Look over your credit card statement for any odd activity. If you see any payments on your statement that you did not make, notify the bank right away.
Top 10 Credit Cards on Below AED 4500 Salary in UAE
Even if you may acquire a credit card with a salary of less than AED 4,500, we recommend that you wait until your salary reaches AED 5,000 to take advantage of the credit card benefits. You can consider the following credit cards with a minimum salary criterion of AED 4,500
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Eligibility Criteria for Obtaining a Credit Card in the UAE with a Salary of Fewer Than 4500 Dirhams
All of the credit cards listed above have a minimum wage criterion of AED 4,500. You may additionally be required to meet the following conditions in addition to the minimum wage requirement:
You must reside in the United Arab Emirates.
You must be at least 21 years old and not older than 65 years.
Documents Required for Obtaining a Credit Card with a Salary of Under AED 4,500
After you've completed the basic requirements, you'll need the following papers to get your credit card:
A valid copy of your passport
Emirates Identification Card
Visa for Residency (for non-GCC Nationals)
Proof of residence in the United Arab Emirates (any one of the following):
EJARI or tenancy agreement
Deeds of Title (if you are a homeowner)
Utility bill received recently
Bank statements of the previous two months showing salary deposits into the account
Your employer's salary certificate - issued within the last 30 days
At a minimum income of AED 4,500, no credit card issuer provides credit cards. There are, however, several lateral strategies you may use to explore to get a credit card. However, you should wait until your wage reaches at least AED 5,000 before applying for a credit card. You can then reap the full benefits of owning one.
He has a content writing experience of over 6 years in academics, newspapers, and biography writings along with a Masters and M.Phil in History. A researcher at heart, he likes to read books, play games, and binge-watch. He seeks to garnish the driest of topics in humour whenever he can and believes in brevity and simplicity.