What is a Credit Card?
A credit card is a plastic card issued by banks and financial institutions that allows the cardholder to pay for goods and services from a pre-approved limit. A credit card agreement requires cardholders to pay the borrowed money, plus any applicable interest, plus any additional agreed-upon fees, in full or over time by the due date. Payments became more convenient and less complicated with the introduction of credit cards. Credit cards not only made payments more convenient, but they also provided the user with a variety of additional benefits such as discounts on purchases, shopping reward points, and airline miles that cardholders can redeem for flight tickets and other benefits.
Credit Card in UAE
Credit card in UAE is a short-term loan facility for your everyday purchases with an agreed-upon repayment period and interest or fees. It offers numerous advantages to meet a variety of needs or requirements. Credit cards in UAE allow you to make large purchases and pay them off in small installments. It provides you with reward points, cashback, discount offers, and other benefits to improve your daily life.
Furthermore, having a credit card in the UAE provides you with numerous benefits such as travel insurance, free airport lounge access, instant EMI conversion, and instant cash options. All of these benefits of a Credit Card in UAE make it an excellent choice for those looking to better manage their finances.
In UAE, the Al Etihad Credit Bureau (AECB) is the primary regulatory body that maintains all credit card data. Provides accurate credit reports to banks, financial institutions, and companies.
How to Compare Credit Cards in UAE & Dubai?
Before applying for a credit card in Dubai, UAE, compare Credit Cards online to make an informed decision. Credit card features are dynamic, and each credit card has its own set of features and user-specific benefits. Because each card has its own set of benefits and drawbacks, Credit Card Finder’s comparing feature provides a concise overview of the most important factors to consider when choosing a card. You can easily compare various credit cards in terms of their:
Interest Rates: Before obtaining a credit card, you should be aware of the interest rate charged on it. Every credit card has pre-set financing fee. Therefore, the applicant must compare the interest rates on different cards and find out the lowest possible option.
Annual Fees: Few credit cards are free for life and do not have any yearly charges whereas some cards come with an annual maintenance fee. Before applying for a Credit Card the applicant must check the fee and charges before applying for a card in Dubai.
Minimum Salary Requirements: For every credit card in Dubai there is a minimum salary eligibility criteria attached to it. Generally, the minimum salary to apply for a credit card in Dubai starts at AED 5000 per month.
Key Benefits: Each credit card is designed with a set of user-specific and lifestyle benefits. Applicants must compare and choose a card that gives great value for their spending.