Credit Cards in Riyadh
Credit cards have become an invaluable part of the society today with a great majority of the people opting to use the facility offered by financial institutions. In fact, this is one of the first few things a person looks for as soon as they get employment.
Even people in the lower income group are attracted to the benefits offered by these cards that help to improve their lifestyle. Being the most popular banking product in the present day, credit cards in Riyadh prove beneficial to the common man in several ways.
Credit cards in Riyadh are Shari’a-compliant with all the banks in the region following the principles of Islamic banking. Who wouldn’t prefer a credit card to carrying a fat wallet with cash on their travel for work or pleasure? As credit cards are accepted by almost every merchant you shop with, shopping becomes a very simple and joyful experience.
Cash withdrawals are also allowed on your Riyadh credit cards, the cash limit being 50% of the total card limit. The difference in time between the day you shop and the day you need to make your payment to the bank is quite substantial and this gives the shoppers ample time to provide for funds in their bank account so as to pay their bills.
Even if you are not able to pay the full amount, card companies accept a part payment, this being 5% of the total amount due or SR 200 whichever is higher, in Riyadh. Payment can be made online using internet banking or by check that can be submitted to various card centers across the city. You may also instruct your bank to pay your card bill by the due date by debiting your account.
Takaful credit shield is a useful facility available to credit card holders that takes care of paying the card dues of a customer in the event of death naturally or by accident or disability due to accident.
Most credit card companies offer attractive incentives to customers that use their card above a certain limit. So, using the card for most of the purchases in exchange for cashback options, dining discounts, movie tickets and flight points for airline booking has become very common.
Credit card is a very useful arrangement between the financial institution, customer and the merchant which benefits everyone involved. The merchant who accepts the credit card gets their payment from the bank that advances the payment on behalf of the customer and then recovers the payment at a later date.
Eligibility to obtain a credit card is to have a monthly income from an organization. The card limit depends on your salary and you will need to submit your bank statement along with your salary certificate and the latest utility bill when you apply for a credit card. If you have a clean credit history, your credit card will be sanctioned quickly.
Role of MoneyGulf
MoneyGulf helps you get your credit card from banks depending upon your preferences and also advises you the pros and cons of availing this facility from all the banks in your city. If you are an out-of-college newly-employed person or one who is looking for a second credit card, MoneyGulf offers their services to you in the most reliable manner. Approach MoneyGulf today and enjoy the facilities that credit cards in Riyadh offer you.