Credit Cards Basics



Why Credit Cards?

A credit card is something that allows you to make payments without using actual cash. Most online purchases require payments be made by credit card. The bank that you received the credit card from keeps track of all of your purchases, and ensures that at all times the amount you owe is below the credit limit that you are approved for. At the end of every month you receive a bill to clear the amount that you have spent using your credit card.

When you don’t pay the full amount you receive extremely high interest rates, so it is best to pay your credit card fee in full every month unless absolutely necessary. Most banks offer special deals and discounts. Usually a bank gives you some sort of flexibility such as converting payments to EMI, cash back offers, and they help you earn loyalty points which can be used for gift vouchers or even air tickets.

There are different types of credit cards in UAE available. These cards vary on interest rate, and are available based on your salary. They each come with different features, and offers. If you feel that you aren’t getting the right deal with your current credit card offer, you can try another bank, and they may have different interest rates, and offers for you.

Credit Cards in UAE

In the world a credit card is the most common banking product used by consumers. It makes sense to have a credit card, as carrying around cash can be risky at times. A simple credit card can become a great convenience to you and if you know how to use it right an interest free, free loan. Though if you don’t understand how to use a credit card, and continue to pay the minimum balance you will catch yourself in a financial trap, and end up paying anywhere from 20% to 45% a year in interest.

Eligibilty Criteria & Documentation



Credit Cards in UAE Eligibility & Documentation

Based on the latest circular of the UAE Central Bank, you can only be offered a credit card to those that have an annual income which is higher than 60,000.00 AED. But that isn’t all that is required for a credit card. In order for you to be eligible to get a credit card you are required to have a certain number of documents.

This document includes:

Recent utility bill

National ID

Salary verification and a Bank statement

For specific cases the bank may require additional documents. If all of these documents show that you don’t owe any outstanding balances, and that you have a steady income you will be quickly approved for a credit card.

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Credit Cards - No Annual Fee

Featured Products


Bank
Min. Salary AEDInterest/Profit Rate %FX Rate %Balance TransferReward TypeKey FeaturesRating

5000 2.99 2.89 Yes TouchPoints ADCB Classic/Standard offers
Free ticket delivery and up to 5% on air tickets;
Roadside assistance;
Travel insurance;
Purchase protection

5000 2.99 2.99 Yes Etihad Guest Above ADCB Etihad Guest Above Classic Card offers
Automatically enrolled in Eithad Guest Tier membership;
0% Installment Payment Plan on Etihad Holidays for 3 months;
Free ticket delivery plus a discount of up to 5% on air tickets ;
Roadside assistance;
Purchase protection for 90 days;
Personal payment plan on request

8000 2.99 2.99 Yes Etihad Guest Above ADCB Etihad Guest Above Gold Card offers
Automatically enrolled in Eithad Guest Tier membership ;
0% Installment Payment Plan on Etihad Holidays for 3 months;
Free ticket delivery plus a discount of up to 5% on air tickets ;
Roadside assistance;
Purchase protection for 90 days;
Personal payment plan on request

40000 2.99 2.89 Yes TouchPoints ADCB Exccellency Infinite Card offers
Global and Local concierge;
Diamond Marhaba service offering meet and greet, unlimited airport transfer;
Priority pass;
Roadside assistance;
Travel insurance

8000 2.99 2.89 Yes TouchPoints ADCB Gold Card offers
Free ticket delivery and up to 5% on air tickets;
Roadside assistance;
Travel insurance;
Purchase protection

8000 2.99 2.89 Yes LuLuPoints ADCB Lulu Gold Card offers
Access to ongoing promotions at LuLu Emirates General Market and Al Falah stores in the UAE.

5000 2.99 2.89 Yes LuLuPoints ADCB Lulu Standard Card offers
Access to ongoing promotions at LuLu Emirates General Market and Al Falah stores in the UAE.
The Standard card offers roadside assistance, travel insurance and purchase protection and 5% discount on all travel spend

5000 AED 100 3.89 Yes TouchPoints ADCB Meethaq Classic Card offers
Free ticket delivery and up to 5% discount on tickets;
Roadside assistance;
Travel insurance;
Free purchase protection for 90 days

5000 AED 200 3.89 Yes TouchPoints ADCB Meethaq Gold Card offers
Free ticket delivery and up to 5% discount on tickets;
Roadside assistance;
Travel insurance;
Free purchase protection for 90 days

5000 AED 400 3.89 Yes TouchPoints ADCB Meethaq Gold Premium Card offers
Lounge access with priority pass;
Free ticket delivery and up to 5% discount on tickets;
Roadside assistance;
Travel insurance;
Free purchase protection for 90 days

5000 AED 600 3.89 Yes TouchPoints ADCB Meethaq Platinum Card offers
Subject to AED 150,000 spend on card, 7 days complimentary vacation at select global resorts;
Dining discounts in the UAE;
Up to 24 months extended warranty on many items;
Global emmergency services;
Lounge access with priority pass;

10000 0.83 Profit 3.00 Yes TouchPoints ADIB Classic Fast Covered Card offers
Profit Rate of 0.83% on this card;
Quarterly Discount offers;
ADIB Travel Desk

8000 2.89 2.75 Yes BarclayCard Reward Barclays Platinum Card offers
Roadside Assistance;
Credit shield;
0% Easy Instalment Programs on certain merchants

5000 2.95 2.75 Yes BarclayCard Reward Barclays Preferred Bundle Classic offers
Free flight redemption on min 75,000 points;
40 Buy one get one free offers;
Roadside assistance;
Credit Shield;
Friend watches free offers at Grand Cinemas

8000 2.95 2.75 Yes BarclayCard Reward Barclays Preferred Bundle Gold offers
Free flight redemption on min 75,000 points;
40 Buy one get one free offers;
Roadside assistance;
Credit Shield;
Friend watches free offers at Grand Cinemas

18000 AED 75 2.75 Yes Attijari Points CBD Visa Classic Islamic Card offers
Free Travel insurance;
24 hour customer service assistance supplementary cards

18000 AED 75 2.75 Yes Attijari Points CBD Visa Classic Islamic Card offers
Free Travel insurance;
24 hour customer service assistance supplementary cards

18000 AED 295 2.75 Yes Attijari Points CBD Visa Infinite Islamic Card offers
Roadside assistance;
Concierge service;
Purchase Protection;
Attijari points can be redeemed for Skywards;
Premium Visa services;
Travel insurance

5000 2.99 2.99 AED 150* CitiDollars Apply for a Citi Life Silver VISA Credit Card before April 30, 2014 and get 100% waiver on Annual Membership Fee (AMF) of AED 150 for the first year and AMF reversal from the second year onwards if you spend AED 6,000 in the previous year.
Legal disclaimer: Citibank Terms & Conditions apply.


Emirates-Citibank Gold Credit Card offers
1 CitiDollar for every AED 1 spend.
Redeem your CitiDollars for an extensive range of shopping and entertainment rewards such as:
Shop for free by redeeming CitiDollars for vouchers from over 40 handpicked shopping and entertainment outlets
Transfer your CitiDollars to lifestyle loyalty programs.
Redeem your points for flight tickets by redeeming CitiDollars and even get Annual Membership Fee Reversals.

15000 2.79 2.60 Yes Airmiles HSBC Advance credit card offers
Airmiles Rewards Programme;
Lounge Access;
Meet and Assit services on departure and arrival if ticket purchased through Al Rostamani Travel;
Free Valet Parking at all Valtrans locations;

50000 2.25 2.60 Yes Airmiles HSBC Premier credit card offers
Airmiles Rewards Programme;
Lounge Access;
Meet and Assit services on departure and arrival if ticket purchased through Al Rostamani Travel;
Free Valet Parking at all Valtrans locations;
Get exclusive dining, travel, shopping and entertainment offers from HSBC Premier Privileges

9000 3.09 2.40 Yes Mashreeqpoints Mashreq Millionaire Card offers
Purchase protection;
Income continuity in event of accidental loss of life;
Easy payment plans on request;
Up to 50% of credit limit loan on request

5000 3.09 2.40 Yes Mashreeqpoints Mashreq Classic Card offers
No Annual free;
No Fine Print;
Rewards at the point of purchase at partner outlets;
Travel benefits on your airline ticket purchases as well as additional discounts when you buy your tickets with MashreqPoints;
0% Balance Transfer on transferring your balances from other credit cards

5000 3.09 2.40 Yes EtisalatMore Mashreq Etisalat Classic Card offers
Roadside assistance;
Easy payment plan for "buy now pay later",
Easy cash allowing loan of up to 50% of credit limit

9000 3.09 2.40 Yes EtisalatMore Mashreq Etisalat Gold Card offers
Roadside assistance;
Easy payment plan for "buy now pay later",
Easy cash allowing loan of up to 50% of credit limit

18000 2.69 2.40 Yes EtisalatMore Mashreq Etisalat Platinum Card offers
Roadside assistance;
Easy payment plan for "buy now pay later",
Easy cash allowing loan of up to 50% of credit limit

9000 3.09 2.40 Yes EtisalatMore Mashreq Etisalat Gold Card offers
Roadside assistance;
Easy payment plan for "buy now pay later",
Easy cash allowing loan of up to 50% of credit limit

6000 2.75 2.25 Yes NBAD Stars NBAD Classic MasterCard offers
Purchase protection;
Roadside assistance;
unlimited number of supplementary cards;
Free SMS alerting

6000 2.75 2.25 Yes NBAD Stars NBAD Classic Visa Card offers
Purchase protection;
Roadside assistance;
unlimited number of supplementary cards;
Free SMS alerting

7000 2.75 2.25 Yes NBAD Stars NBAD MasterCard Gold Card offers
Purchase protection;
Roadside assistance;
unlimited number of supplementary cards;
Free SMS alerting

20000 2.75 2.25 Yes NBAD Stars NBAD Platinum card offers
Airport lounge access;
Express check in and meet and assist services;
Travel insurance;
Travel insurance;
Roadside assistance;
Off Road recovery

7000 2.75 2.25 Yes NBAD Stars NBAD Visa Gold Card offers
Visa Gold priviledges;
Visa emergency services for lost and stolen cards;
Purchase protection;
Roadside assistance;
unlimited number of supplementary cards;
Free SMS alerting

5500 2.55 2.40 Yes Lacarte Points RakBank Geant La Carte Credit Card offers
Discounts of up to 30% for La Carte customers at Geant Hypermarkets;
Purchase protection;
Travel inconvenience insurance;
Cash Advance of up to 50% of credit limit;
Quick checkout at Geant supermarkets

5000 2.49 2.50 Yes Cashback RakBank NMC MasterCard offers
Exclusive discounts at NMC Hospitals, pharmacies, opticians, beauty salons, restaurants and jewelers.
Chance to win AED 1,000,000 every 6 months;
Purchase protection;
Travel inconvenience insurance;
Cash Advance of up to 50% of credit limit;

5000 2.49 2.50 Yes Cashback RakBank Standard MasterCard offers
Chance to win AED 1,000,000 every 6 months;
Purchase protection;
Travel inconvenience insurance;
Cash Advance of up to 50% of credit limit;

10000 2.49 2.50 Yes Cashback RakBank Titanium MasterCard offers
Exclusive offers on electronics, jewelery, holidays, dining, furnishing many more;
Purchase protection;
Travel inconvenience insurance;
Cash Advance of up to 50% of credit limit;
Chances to win AED 1,000,000 every 6 months;

5000 2.49 2.50 Yes Cashback RakBank Visa Classic offers
Chance to win AED 1,000,000 every 6 months;
Purchase protection;
Travel inconvenience insurance;
Cash Advance of up to 50% of credit limit;
Priviledged discounts on dining and shopping

8000 2.49 2.50 Yes Cashback RakBank Visa Gold offers
Chance to win AED 1,000,000 every 6 months;
Purchase protection;
Travel inconvenience insurance;
Cash Advance of up to 50% of credit limit;
Priviledged discounts on dining and shopping
Interest Rates & Fees



Interest and Fees on Credit Cards in UAE

The interest rates vary greatly on credit cards in UAE based on the bank that you choose, and your salary. They are usually around 2.75% - 2.99% of how much you spent, but others have different rates of interest. Instead of one flat rate, some banks have a flat rate of AED which can be anywhere from AED 295 – AED 750. When getting a credit card always keep in mind the rates of interest that will be added, so you are able to pay the full bill completely.

There are annual fees that come with credit cards. These fees are usually around $15 but can be a bit higher when using cards that give a higher level of credit. There are early settlement charges as well which are usually are 3% but some credit cards don’t have them. The number of fees varies when it comes to your credit card. Fees that are on all credit cards though are joining fees, cash withdrawal fees, over limit fees, and late fees.

Tips & Tricks



Credit Cards in Dubai - Tips and Tricks

Handling Credit Card Money

If you have multiple credit cards you may be able to use balance transfer. Balance transfer allows you to take your credit card balance and move it to an account you have with another credit card company. In this way you can get a higher overall balance, but you still have to pay each credit card company individually.

When the month is up, you are required to pay your credit card fees no matter how high they may be. Your fees are added up during your billing cycle which is the period between bills. They can range between 25 to 45 days depending on your credit card and those that issued it to you. During that cycle all fees are placed on your account. You are then given the bill. The payment is due 20-25 days after the billing cycle ends.

When receiving your bill you should always pay your balance in full. When you don’t your interest rates can get extremely high. You may find yourself paying much more than you expected at the end of the year. When you completely avoid paying on the due date and neglect even the minimum balance severe costs are placed on your account and it will be that much more difficult to pay it off completely.

If you do not pay your credit card bills you will be faced with damaging your credit. This will not only make it difficult for you to be approved for loans, but it will also make it hard for you to get a credit card from a different company as well.

Credit Card Offers

When you get a credit card there are a number of offers that can come with it. These offers can be anything from low interest rates, to free items and gifts.

Loyalty Points

Many credit card offers from companies involve loyalty points, or reward points. As long as you continue to use your credit card, and pay off your balance each month, you can gain these points and use them to buy a number of gifts from different companies that a variety of companies offer. These gifts can range from regular household items to large and expensive trips.

Low Interest Rates

When signing up for credit card companies, and having a good standing in credit. You may get credit card offers involving low rates of interest. These interest rates can be extremely lower than the ones you would usually expect to have. There are some banks that take this a step further and offer you periods where you don’t have to pay any interest for a number of months.

Promotional Offers

Credit card offers aren’t always based on your credit, but the time you sign up for one. Some credit card companies have special limited time offers that are only available for a short time. These credit card offers can be anything from no interest for several months, to gifts, or cash prizes.