What are credit cards in Dubai ???
Credit cards in Dubai falls under plastic money, which enables the bank card holder to make electronic transactions that is both through swiping online or over machines, with no available balance in their bank account. With this regard, a credit card offers you the facility to shop now pay later and these Credit cards in Dubai/UAE may come in the form of Mastercard or visa card. Majority of merchants in the UAE accept accepting credit card payment, but if it is an online transaction, they usually require to physically see the credit card at the point of delivery or concluding the transaction for example, if one uses his / her ADCB Credit card to purchase an air ticket online, upon boarding, the credit card, its picture or photocopy is usually required. Credit cards in Dubai/UAE offer a lot of convenience and benefits.
Supplementary credit card in UAE
A supplementary credit card in UAE is a sub-credit card facility given to a family member, and it is attached to the primary credit card of the client. Supplementary credit cards are issued to wife, husband, daughter, son, brother, sister, and in some cases to nearby acquaintances as well such as uncle and aunt. Supplementary credit cards usually have a lower limit of the primary card usually 50 % and below, and all its features are similar to those of the main card. The same credit card offers which are available to the primary credit card, these also trickle down to the supplementary credit card. At the same time, though it is supplementary, the bill accrued on this card falls on the main credit card and any delay in payments will equally attract credit card fees just like the main credit card. A Finance house credit card is a good example to explain this feature, since it comes along with it a supplementary credit card in UAE
Qualifying for a credit card in a Dubai Bank
A credit card in Dubai is issued out to various locals and expats if they meet the minimum qualification requirements. There are blanket requirements which are applied in all banks, followed by bank specific requirements which are considered from a bank’s perspective, guided by that banks’ policy. The blanket qualifying requirements for cards include but are not limited to a valid emirates ID, a valid passport, a valid residence visa (only for expats), an up to date 3 months bank statement showing the bank link with enough pages, a valid salary certificate, 3 salary slips, and the intending applicant should be 21 years of age and above. On top of this, one needs to be employed, self-employed, or be a partner in a company. These are the blanket credit card in Dubai features and requirements needed for the purpose of application, but it should however be noted that some finance companies issue credit card without bank statement in UAE, this is purely their own risk appetite since the bank statement shows the financial character of a particular client before engaging in any form of credit. A UAE Bank may decide to specifically issue credit cards and credit card offers to a group of people usually earning a higher salary. These are a few blanket requirements for qualifying for a credit card in Dubai, arguably used or expected of a prospective client.
Visa card or MasterCard Credit cards in UAE -requirements
Any Bank in UAE before issuing out Credit cards in UAE which comes in the form of either a Visa card or MasterCard to an applicant (expat or local), it considers its internal policy even though if the applicant may qualify from a blanket point of view (credit card requirements in UAE). These internal policies are carefully crafted by the responsible departments in banks, to come up with a sound credit policy which is beneficial to the client, at the same time in line with the banks return profile. As a result, some Dubai banks may decide to stop issuing credit cards in UAE to a specific industry in times of economy is slowdown or they may decide to restrict specific nationals as a result of a bad loan book with the nationals in question, or restrict a group of employees with a specific salary bracket, which they presume to be harmful to their risk profile. As a result, the bank assigns its marketing and sales force to source for clients who qualify for credit cards from a blanket perspective at the same time meeting the UAE bank specific requirements for the procurement of credit cards in UAE which will be dispatched at the will of the client as a MasterCard or Visa card