Navigating Credit Card Eligibility and Document Requirements for FAB Cards

In the UAE, credit cards are not just financial tools but also a gateway to a range of lifestyle privileges. First Abu Dhabi Bank (FAB), as one of the largest and most prestigious financial institutions in the region, offers an assortment of credit card options suited to the varied needs of its customers. If you are contemplating obtaining a FAB credit card, here’s what you need to know about the eligibility and document requirements.

Age and Income Eligibility

For Salaried Employees:

The journey to your FAB credit card begins once you’ve celebrated your 21st birthday. Young professionals eager to explore the benefits of a credit card can take advantage of FAB’s offerings, provided they meet the income criteria. For FAB, this means drawing a minimum monthly income of AED 5,000, a threshold that opens the door to numerous credit card benefits.

For Business Owners:

Entrepreneurs and self-employed individuals must cross the age threshold of 25 years. This age requirement recognizes the maturity and financial stability typically associated with running a business.

FAB stands as one of the leading banking groups in the UAE, offering a wide array of financial products including a variety of credit cards that cater to diverse lifestyles and needs. Whether you are looking for luxury travel benefits, cashback on daily spending, or sports-related offers, FAB has a card that aligns with your preferences.

With an impressive portfolio of credit cards, FAB offers exclusivity and a host of privileges that make its cards sought after. However, before you can enjoy these benefits, you must meet certain eligibility criteria.

Eligibility Criteria for Salaried Individuals

Basic Eligibility Criteria

To qualify for a credit card in the UAE, applicants must meet several basic requirements set by FAB.

Minimum Age: FAB requires applicants to be at least 21 years old.

Residency: Applicants generally need to be UAE residents, which is often verified through a valid residency visa and Emirates ID.

Minimum Salary: The minimum salary requirement is crucial and varies widely depending on the card. It can range upward from AED 5,000 per month.

Employment: A steady job and a regular income are typically required. FAB may ask for proof of employment or require a salary transfer to the bank.

FAB might request a security check on a case-to-case basis.

Establishing Credit Worthiness

 Acceptable Credit Scores for Credit Cards

Scores 300 – 619: Considered low. Applicants might find it difficult to get approved for credit cards and may only qualify for secured credit cards or products designed for low credit scores.

Scores 620 – 657: Fair. Individuals with scores in this range are typically considered subprime borrowers and might face higher interest rates or less favorable terms.

Scores 657 – 750: Good. This is generally considered low risk to the banks as applicants with scores in this range are likely to be approved for most credit cards.

Scores above 750: Excellent. These scores qualify for the best available credit cards, including those with premium benefits, low-interest rates, and high credit limits.

Establishing Employment and Income

To ensure the accuracy of employment and income details, the bank may carry out verification checks. These could be in the form of phone calls or on-site visits and tend to vary according to the employer’s stature—with employees from larger and more well-known companies typically subjected to fewer checks. However, the frequency and type of these verification procedures are determined by the bank’s underwriting standards. Income verification is often streamlined through an automated system that validates bank statements and income credits, which can reduce or eliminate the need for paper-based income documentation in many instances.

Documentation Required

To apply for an FAB credit card, several documents are required:

• Emirates ID and passport copies, with originals for verification.
• Your latest salary certificate.
• Your trade license if you are a business owner.
• Bank statements from the last three months, with ATM statements also acceptable.
• A security cheque may be required upon application.

Supplementary Cards and Age Criteria 

FAB allows primary cardholders to avail themselves of up to five supplementary credit cards for their dependents at no extra cost.

Card Options and Benefits

To apply for any FAB credit card, you must be at least 21 years of age and meet the minimum income requirements specific to the card you are applying for.

Let’s explore some of the credit cards available, highlighting their minimum salary requirements, annual fees, and key features.

These are just a few options from the broad spectrum of credit cards offered by FAB. Each card is tailored to fit different financial profiles and spending habits, ensuring there’s a card for every type of customer. It’s essential to assess your financial standing and compare it against the eligibility requirements to find the perfect credit card that not only meets your needs but also rewards you for your expenses.

Remember, while a credit card can be a powerful financial tool that offers convenience and rewards, it also comes with the responsibility of managing your finances wisely. Always read the terms and conditions carefully and understand all the charges associated with the card you choose to ensure it’s the right fit for you.

Embrace the Digital Revolution:

FAB heralds the era of digital banking, where your time and convenience are valued. With the FAB Mobile app, gone are the days of lengthy paperwork. You can now open an account and get your credit card instantly, all through the seamless interface of the app.

FAB’s approach to credit card eligibility is designed to be inclusive, catering to both the young professional at the start of their career and the seasoned entrepreneur. Their innovative FAB Mobile app simplifies the application process, reflecting a modern banking experience that prioritizes efficiency and customer autonomy.

By meeting the eligibility criteria and harnessing the digital tools provided by FAB, you can access a world of financial freedom and lifestyle benefits that complement your aspirations and achievements.

Remember, with great power comes great responsibility. So, while you enjoy the convenience and advantages of your FAB credit card, make sure to spend wisely and manage your finances with prudence.

FAQ’S