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Credit Cards

A credit card is a standard-size plastic token issue by a bank or a financial institution which enable the card holder to borrow funds. It has a magnetic stripe that holds a machine readable code. If allows  it’s users to borrow pre-approved funds at the point of sale in order to complete a purchase without having to pay in cash or issue a cheque. Today, nearly every business accepts credit card as a preferred mode mode for accepting payments.
Credit card issuer provides 25-30 days time to the card holder to pay back the full amount without charging any interest on it. However, interest may be levied on the due amount if the user does not pay the balance in full and keeps on compounding for as long as the balance is outstanding.
Benefits :
1. You can make a large purchase now & pay it off in small amounts overtime.
2. Carrying credit cards is more convenient (& safer) than carrying cash and it is also more widely accepted these days almost everywhere.
3. With responsible use you can build your credit which will be important later on.
4. Many credit cards give you rewards, essentially giving you back 1% or more of the money you spend.

Eligibility Criteria :

All banks offer different terms and conditions depending on various factors, your salary being the most important factor. Generally, the minimum salary drawn by the applicant has to be 5000 AED. However, as mentioned, the banks may come consider your application on other grounds that they deem fit as per their policies.


Checklist of required documents:

  • Valid passport for UAE Nationals
  • Valid passport and valid UAE residence visa for expatriates
  • Valid Emirates ID
  • Last three months bank statement
  • Salary Certificate