How to Get a Credit Card in Dubai?

How to Get a Credit Card in Dubai?
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These days, a credit card has become a compelling need for a majority of people. It not just helps in fulfilling your daily transaction requirements but also helps uplift your lifestyle and standard of living, especially if you are in Dubai, the Middle East's shopping capital. A lot of credit cards offer their cardholders many benefits like Buy 1 Get 1 on cinema tickets, discounts on shopping and dining, air miles, spas and much more. Here is a quick guide on how to get the best credit card in Dubai.

Documents Required to Apply for a Credit Card in Dubai

The following are some common documents that you need while applying for a credit card in Dubai.

  • Properly filled and signed application for the credit card
  • Original password and Emirates ID
  • Salary slips, certificates or bank statement from the bank where your income is transferred
  • Residence Visa
  • Proof of UAE residence by expats (rental agreement, title deed, or utility bill)

Factors to be Kept in Mind While Selecting a Credit Card in Dubai

Before selecting a credit card, the candidates compare credit cards available in the market. Following are the factors to be kept in mind while selecting a credit card in Dubai.

1. Annual Fee

The cardholders have to pay an annual fee on the credit card, the amount of which depends upon the card they have selected. The high-end credit cards that offer some extra benefits, usually charge a high annual fee. Now, you need to assess whether the offers these high-end cards are providing, are beneficial for you or not. However, some credit cards do not charge an annual fee from the cardholders and are called free for life. In some cases, if the cardholders agree that they will spend above the minimum amount predetermined by the bank using the card, the bank might agree to remove the annual fee charged.

2. Reward-based v/s cashback cards

Some credit cards provide cashback on the total monthly spends of the cardholders while some include a wide range of credit card offers in the UAE such as lifestyle, travel, dining and shopping benefits and discounts to the cardholders. You should assess how would you be using your credit card and select the one you need accordingly. If you prefer cashback over rewards then you should select a cashback credit card while on the other hand, if you would be using your credit card primarily for entertainment, traveling, golfing, dining and more, then it is more sensible to select a reward-based card.

3. Income

Each credit card has its own eligibility criteria. Most credit cards include a minimum salary requirement as an eligibility criterion. Also, depending upon your salary, the bank offers you different credit cards. Before selecting a credit card, you should check and figure out which credit cards you are eligible to apply for depending upon your monthly income. Some banks offer you credit cards in even if you are self-employed or do not earn a regular income only if you maintain a certain amount of money with them in an account.

4. Interest Rate

After you have shortlisted a few credit card options, you should check the interest rates charged by them. In case you are unable to pay back the due amount on the credit card in a month, select the one which has the lowest rate of interest.

5. Travel Specific

Based on the amount you monthly spend, some credit cards offer you air miles. The air miles can either be direct reward points by the airlines or can be proprietary miles by the banks which you can convert into airlines miles’ programs. You can make use of the air miles to avail free or discounted flights and upgrades depending upon the program. Apart from this, the credit cards also offer free valet parking in the airport, access to airport lounges, pick-up and drop services or meet and greet services using some credit cards. You must check the charges levied by your bank for potential FX conversions and for using the card in other countries.

Applying for the Credit Card

After you have compared credit cards in UAE and selected the one that suits you the best, you can apply for the credit card. Almost all the banks these days provide secure and user-friendly online banking platforms. The applicant can apply for the credit card using these platforms or using phone banking. The applicants can also visit the nearest branch of the bank for applying for the credit card.

In a Nutshell

If you plan to get the best credit card in Dubai, which perfectly suits your requirements, then consider the above-mentioned factors before selecting the one. After assessing them carefully, select the credit card of your choice and enjoy the privileges and benefits it offers. A credit card turns out to be very handy, however, make sure you make your payments on time in order to avoid any mounting debt.

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