Credit Cards in the UAE

Credit Card:

Often described as a small simple plastic card with a magnetic stripe that consists of a machine readable code, a credit card in UAE either VISA or MASTERCARD is a powerful financial tool issued by a banks in UAE or financial institution that enables the holder to benefit from deals in Dubai through the purchase of goods and services on credit and pay for them later whilst getting Dubai offers,rewards and perks that helps the holder to save money and make life easier and at the same time providing convenience for the credit card holder. In other words a credit card is mainly used as a short term financing solution. It should be taken into account that paying all the charges fully on your credit card in Dubai each month makes you avoid interest charges and in turn you earn great perks and rewards at no cost at all(borrow for free) thus qualifying them as the best credit cards in UAE.These are usually offered when one procures a personal loans

Unlike a charge credit card which requires payment in full each month of the outstanding amount charged to the card, a credit card in UAE allows the holder to make equated monthly installments (EMI) on the outstanding amount similar to the results of the loan calculator,thus this makes it more attractive than a charge card.Credit cards in UAE allows the holder to use it anywhere in the world whether in shops or online which makes it a reliable form of payment in this modern era. Credit cards are the most popular form of payment in fast moving economies such as Dubai and the the whole country at large United Arab Emirates.

Unlike using cash or other forms of payment, a credit card gives you the financial freedom to better manage and pay for any type of bills or expenses that you might have incurred on more flexible terms also known as equated monthly installments which are calculated by the emi calculator, without the hassle of looking for a loan and going through the loan application process whilst you just need a short term financing solution.

A credit card is mainly designed as a personal banking tool that is used to pay for items in shops, online, balance transfers and also making cash withdrawals which are also known as cash advances and it should also be noted that if used wisely and within the designated credit limits, a credit card can be very useful in building good credit history or credit score.

In Dubai United Arab Emirates there are 54 banks and financial institutions that offer credit cards

How Credit cards work:

After applying and obtaining your Credit card, you are given a line of credit or a credit limit. A credit limit is the maximum amount of money that the holder is allowed to borrow without penalty charges. There are many factors that are taken into consideration when determining someone’s credit limit such as income level, credit score and the type of company that the prospective holder of the card is working for whether it is a listed or unlisted company with that particular bank that will issue the credit card.

Besides purchasing goods and services you can also use a credit card for balance transfers and cash advances (Cash withdrawals). In the UAE the use of Credit Cards is now becoming more and more popular so there is need for almost everyone in the country to have a credit card and not just any credit card but the best credit card that is specifically designed on a basis to cater for daily expenditure whilst giving you the convenience and rewards that you deserve.

Our Credit Card(s):

Whether for shopping, entertaining, elite spending, financing your business, travelling or day to day spending and even for needs that other credit cards do not cover such as home repairs for example, we offer you the best and unrivalled credit cards not only in the U.A.E but in the Middle East & globally as well.

There are two main classes of credit cards that are currently being offered in the United Arab Emirates, which are conventional credit cards and Islamic Credit cards:

Conventional credit card:

This is the most common type of credit card and unlike an Islamic credit card it comes with interest, and it can purchase any item as long as it is within the credit limit.

Islamic credit card:

This type of card is the one that is accepted in the Muslim religion. It abides by the Islamic banking principles and unlike the conventional card it does not carry any interest charges as it is considered “haram” in the Muslim religion. In addition to this it does not purchase some non halal items such as liquor and beer items. Last but not least any proceeds that are obtained by the card issuer from any issued credit cards are directly taken to charity though the Beit Al Khair society.

With more than 10 different options of credit cards available we can help you pick the card with perks and benefits that best suits you. So whether you are a salaried employee or self employed from a listed or unlisted company there is that card that will meet and satisfy your financial needs.

Why choosing our credit card(s):

Besides being a secure and convenient form of payment and short term financing solution, a credit card has a lot of advantages that it carries along with it and it should be noted that our credit cards come with these advantages that some credit cards do not have. Below are some of the reasons why one should opt for our credit cards:


With our credit cards you can borrow quickly and for nothing as long as you pay back the charge within the 55 days or more grace period depending on the type of card and purchase made.

With the 0% interest free on shopping which can be spread from 6 to 36 months you can purchase expensive items without feeling a pinch on your wallet.

Most cards that we are offering have a 24hr helpline centre always ready to assist you; this makes our credit cards more reliable anywhere and anytime especially when you are travelling.

Our generous credit limits and card security/ protection makes our cards stand out among the rest.

You can use it to manage your spending for example by keeping your receipts and double checking them with your end of month statement.

Building credit history- you can use the card to build positive credit history by using it frequently and paying your monthly payments on time.

No annual fee payment (Free for life) credit cards.

You have a choice of choosing between Conventional credit cards and Islamic credit cards.

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Annual Percentage Rate

Implications of non-payment

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Apply for a Credit Card in U.A.E

Personal Loans

Get a personal loan in UAE.

Requirements

  • Documents required for loan application

    1-Passport copy

    2-Visa copy

    3-Emirates ID front and back copies

    4-Salary certificate/3 Months Payslips

    5-Three months bank statement/Salary slips/WPS Statement

    6-Credit card copy (face)

    7-Credit card statement

    8-Security Cheque

    Loan amount 10 000-1 000 000 (AED)

    Salary must be minimum 4000 (AED) +

    Do you have a credit card? If so, what is the limit?

    Do you have a loan from another bank ?

    Do you have benefits at work for example accommodation, insurance, commission, bonus, overtime, transport, air-ticket or uniform?

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Requirements

  • Documents required for SME Partner-loan application

    1-Passport copy
    2-Visa copy
    3-Emirates ID front and back copies
    4-Six months bank statement
    5-Credit card copy (face)
    6-Credit card statement
    7-Memorandum of Agreement (MOA)
    8-Tenancy Contract
    9-Copies of invoices (optional,increases chance)
    Loan amount 10 000-300 000 (AED)

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