Credit

Jul 30 2017

UAE Credit Cards: Compare Credit Cards in Dubai #rental #credit #check

#free credit cards
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What criteria should be considered before taking out a credit card?

  • Interest Rates Is the rate communicated by a monthly interest rate or an annual rate? Rates may also vary according to your monthly salary, your place of employment or whether you’re already a customer of the bank
  • Salary requirement – what is the minimum salary requirement? You need to identify which cards you’re eligible for and then compare the rates, fees and other benefits accordingly
  • Foreign currency rate – if you travel frequently, work out how much you will pay on top of the transaction amount if transactions are made in a foreign currency? Each time you make a transaction on your credit card outside of the UAE, banks will charge you a fee as a percentage of your spend
  • Annual fee – Even if a bank advertises no annual fee, make sure a fee is not applicable from the second year onwards
  • Other applicable fees and charges – for late payments for example
  • Benefits – consider the benefits provided such as air miles, airport lounge access, discounts on hotels and car hire or cash back

How can I have a credit card without paying interest?

Most credit cards offer an interest free period of 50-55 days. If you pay the full outstanding balance within this period, you will not have to pay interest.

What is a premium credit card?

A premium credit card normally requires the holder to have a higher income and will often incur a higher annual fee in exchange for premium benefits.

How can I save with a balance transfer?

You can save interest charges by transferring your outstanding balance to another bank’s credit card that charges no interest. Click here  for further information about this.

Are there Islamic Finance credit cards available?

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