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Credit Card Charges in the UAE and How to Avoid them

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Among the significant financial drains in the UAE are credit card charges. These can run into thousands if not kept in check. Living without these extra charges can save the cardholder a handsome amount of money in the bank. Discussed below are the standard credit card fees charged in the UAE and how one can avoid them.

Annual Maintenance Fee

Let us begin with the most standard charge: the annual fee. Most credit card companies in the UAE charge for their services on an annual basis. This amount could include a few hundred dirhams or more than a thousand, depending on the type of card and benefits associated. Cardholders, to avoid these charges can seek credit cards that do not levy such annual charges, or such cards with no charges for the first year. You can refer to detailed listings and analysis of credit cards with no annual fees in the UAE at the following link on Soulwallet.

Besides, a few banks also do some promotions or special offers wherein they waive the annual fee if some amount of spending is done on the card.

Late Payment Fee 

Another common fee is that of a late payment fee. This is a fee charged to the cardholder for not making any payment by the due date. It is a very fast-growing interest that adds up to the growing debt of the cardholder. In order not to be loaded with a late payment fee, reminders or automated settings for at least the minimum amount to be paid before the due date should be done every month. Interest is yet another key cost of credit cards. This will be applicable if the cardholder fails to pay the full balance by the due date, with an interest charge levied on the remaining outstanding balance. In the UAE, interest rates of credit cards are relatively high, sometimes going up to more than 30 percent per annum. Pay all the outstanding every month and save on paying interest.

If not possible, at least a cardholder should strive to pay more than the minimum payment to reduce his interest amount.

Cash Advance Fee

Another type of probably somewhat pricey fees are cash advance fees. These are taken for the withdrawal of cash from a credit card, normally in the form of a percentage from the cash withdrawn. Also, cash advances can have higher APRs, wherein the interest runs from the date when the advance is taken. So, in general terms, it’s good to just use a debit card or simply withdraw money from a savings account.

Foreign Transaction Fee

On top of that, even foreign transaction fees can be accrued by one using their credit card outside the country. Most credit card companies have a foreign transaction fee policy under which the customers’ transactions in foreign currencies and countries result in a small percentage surcharge of the total transaction amount. Look to get a credit card with no or low foreign transaction fees or a travel card specifically designed for use in other nations.

Balance Transfer Fee

A balance transfer fee is a charge for the Debt Consolidation, from one source to another—a credit card debt. This usually costs the cardholder a percentage of the sum being transferred. In contrast, while balance transfers may provide an excellent avenue for debt consolidation or interest rate arbitrage, the fees tackled on sometimes computed eliminate the benefit. Cardholders should look out for low or no balance transfer fee promotions or cards to avoid or reduce a balance transfer fee.

Overlimit Fees

Lastly, over-limit fees crop up as charges when a cardholder has spent beyond his set credit limit. It is quite easy to avoid this fee with some amount of control on spending and trying not to spend beyond the set credit limit. One way could be to instruct some banks that typically send a text or call alerts when a cardholder has reached his or her credit limit. Therefore, people living in the UAE should be informed about the various charges prevailing on credit cards and how they can avoid them to save cost and manage their finances much better. A wise selection of the right credit card one is comfortable with, automatic payment set up in such a way that it paid on time, and a clear strategy for spending will be a sure way to help all cardholders fully minimize these kinds of credit card fees and to fully accrue the promised rewards and bonuses that are incorporated into the credit cards.

 

Does Using Credit Cards Lead to Increased Spending?

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There have always been two extreme opinions on whether using a credit card, compared to cash, makes people spend more money. This is most pertinent for UAE residents since credit card usage is very high in the country and there is an increasing number of financial products coming into the market. This article will also delve into the psychology of credit card spending, the effects of credit card use on consumer behavior, and how to manage your credit card expenses effectively in practice.

The psychology behind credit card usage is that people spend more on a credit card than they would if they were using cash. This has been known as the ‘credit card premium’. Studies have shown that the pain of paying is less with credit cards because the transaction is not immediately felt, whereas in cash, the physical handing over of money creates a more tangible sense of loss. In this way, in places such as the UAE, where the use of credit cards is high, it may just facilitate higher spending and possible debt accruing.

Credit cards could further change people’s behaviors by giving a feel of instant gratification. The fact that one can buy and pay later tends to make people impulsive buyers and reduces their sense of needing to plan out a budget. Very easily can most of the residents of the UAE get carried away while using credit cards in their everyday lives, whether it is for dining, shopping, or traveling. And credit card rewards programs, or promotional offers, might also entice people to spend because customers would like to get something out of purchasing goods to receive points, cash back, or other benefits.

However, it should be considered that a credit card is not bad. When properly and sensibly used, it can help create a good credit history, financial flexibility, and many other advantages, including rewards. The idea is to inculcate good spending habits and remain aware of how credit card use shapes behavior.

The following are a few tips that UAE residents can follow to manage expenses on their credit card:

  1. Create a Budget: Allocate a monthly budget for credit card expenses and strictly follow it. This will prevent you from overspending and ensure you stay within your means. Get a budget app if you do not have one!
  2. Track Your Spending: Continue monitoring your credit card statements on a regular basis; also, write down all your purchases. That way, you’ll get to remain well-informed of your spending patterns and establish areas where you should pull back on spending money.
  3. Pay in Full: Strive to pay all your credit card debt in full each month and therefore avoid paying interest. If that proves difficult, at the very least pay more than the minimum so you chip away at the principal of the debt more significantly.
  4. Limit the Number of Credit Cards: The more credit cards you hold, the more difficult it is to really control your finances and increases the temptation to spend more. Consider only allowing yourself two or three cards that get you the greatest benefit in rewards and benefits for your lifestyle.
  5. Use Credit Card Rewards Wisely: Enjoy the benefits of using credit card reward programs yet try not to let them lead your purchase behavior. Do your best to enjoy benefits from your normal spending but not just for those rewards that you would get by making purchases with or on the credit card.
  6. Be Cognizant of Charges and Interest Rates: Be aware of all terms and conditions of your credit card, including charges and interest rates when you must use it. That way, you won’t have any surprises and you’ll have a more organized way of charging things on your credit card. Check your statements regularly and understand the charges if any. You can always contact the bank’s customer service desk for any clarifications on the charges.
  7. Seek Professional Advice: If you find it very difficult to manage your credit card debt, consider a financial advisor or credit counselor to take proper steps suitable for your conditions and help you make up a plan to get back on track.

To sum up, to most UAE residents, using the credit card does result in their spending more, but the amount of credit card expenses remains adjustable with mindful and disciplined financial habits. Being informed about the way psychology works in this dimension and putting certain practical strategies into practice will enable you to enjoy the benefits credit cards offer and keep you from falling into the trap of overspending and running up bills.

Beware and Be Aware: Your Essential Guide to Defending Against Credit Card Fraud

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Credit card fraud refers to unauthorized or fraudulent use of someone else’s credit card information for financial gain. There are several types of credit card fraud that individuals should be aware of:

Card Skimming: Skimming involves stealing credit card information by capturing card data using devices installed on ATMs, payment terminals, or other card readers. The stolen information is then used to create counterfeit cards or make unauthorized online purchases.

Phishing: Phishing is a fraudulent practice where scammers attempt to obtain sensitive information, such as credit card details, by posing as a legitimate entity. They may send fake emails, text messages, or make phone calls, requesting victims to provide their card information or click on malicious links.

Identity Theft: Identity theft occurs when an individual’s personal information, including credit card details, is stolen with the intention of assuming their identity. The stolen information is then used to open new credit card accounts or make unauthorized transactions.

Card Not Present (CNP) Fraud: CNP fraud involves making unauthorized transactions without physically presenting the credit card. This commonly occurs in online or phone transactions where fraudsters use stolen card information to make purchases or payments.

Lost or Stolen Cards: If a credit card is lost or stolen, unauthorized individuals may use it to make purchases before the cardholder can report it as lost or stolen.

Account Takeover: Account takeover occurs when fraudsters gain unauthorized access to a credit card account by stealing login credentials or personal information. Once they have control, they can make unauthorized transactions or change account details.

Counterfeit Cards: Fraudsters may create counterfeit credit cards by copying the card details onto a different card. They can then use these counterfeit cards to make purchases before the fraud is detected.

Mail Theft: Credit card statements and pre-approved credit card offers sent through the mail can be stolen by fraudsters who use the information to open new accounts in the victim’s name.

Insider Fraud: This type of fraud involves employees of a company or financial institution misusing customer credit card information for personal gain or selling the data to criminals.

Online Data Breaches: Data breaches occur when cybercriminals gain unauthorized access to a company’s or website’s database, compromising customer information, including credit card details. This stolen data is then sold or used for fraudulent purposes.

Improved Security Measures: UAE banks and credit card issuers have implemented various security measures to combat credit card fraud. These measures include two-factor authentication, SMS transaction alerts, and enhanced fraud monitoring systems. Individuals should take advantage of these security features and stay informed about the latest security practices recommended by their credit card issuer.

Collaboration with Authorities: The UAE authorities, such as the Central Bank and law enforcement agencies, actively work to combat credit card fraud. They conduct investigations, enforce regulations, and collaborate with financial institutions to enhance security measures.

To protect against credit card fraud, individuals should adopt good security practices, such as safeguarding their card details, regularly monitoring their account statements, using secure online platforms, and promptly reporting any suspicious activity to their credit card issuer.

If you suspect that your credit card has been compromised, it’s crucial to act quickly to minimize any potential damage. Here are the steps you should take if your credit card is compromised:

 

 

Understanding Eligibility for Emirates NBD Credit Cards in the UAE

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Emirates NBD 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 spends, or sports-related offers, Emirates NBD has a card that aligns with your preferences.
With an impressive portfolio of credit cards, Emirates NBD 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 ENBD
Minimum Age: ENBD requires applicants to be at least 21 years old, though this age limit can vary.
Residency: Applicants generally need to be UAE residents, which is often verified through a valid residency visa.
Minimum Salary: The minimum salary requirement is crucial and varies widely depending on the card. It can range from AED 5,000 to over AED 20,000 per month for premium cards.
Employment: A steady job and a regular income are typically required. ENBD may ask for proof of employment or require a salary transfer to the bank.
ENBD 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 Emirates NBD 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 
Emirates NBD allows primary cardholders to avail themselves of up to five supplementary credit cards for their dependents at no extra cost.
To apply for any Emirates NBD 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.
Card Options and Benefits
Let’s explore some of the credit cards available, highlighting their minimum salary requirements, annual fees, and key features.

Product Name

Annual Fee AED

Minimum Salary

Features
Starwood Preferred Guest World Credit Card 1500

25000

 Premium lifestyle and travel benefits, rewards at Starwood Hotels, and travel insurance.
U By Emaar Visa Infinite 1575

30000

 Exclusive discounts at Emaar establishments, travel benefits, and lounge access.
Skywards Signature Credit Card 735

12000

 Bonus Skywards Miles, lounge access, golf course access, valet parking.
dnata Platinum Credit Card 525

8000

 Earn dnata points, rewards at participating merchants, and welcome voucher.
dnata World Credit Card 1048.95

25000

 Exclusive Concierge Desk and privileges, dnata and Duty-Free Shopping rewards, lounge access.
Manchester United Credit Card 262.5

5000

 Offers for Manchester United fans, rewards points, golf discounts, lounge access.
Go4it Gold Credit Card 103.95

6000

 RTA Nol Card benefits, cinema offers, life insurance.
Go4it Platinum Credit Card 208.95

12000

 RTA Nol Card benefits, Vox Cinema ticket offers, welcome voucher.
U By Emaar Visa Signature 262.5

15000

 Discounts at Emaar establishments, travel benefits, lounge access, Gold Status.
U By Emaar Visa Family Card 0

5000

 Free for life, discounts at Emaar, Upoints earnings, cinema offers.
MasterCard Platinum Credit Card 735

12000

 Rewards on all spends, Cleartrip discounts, lounge access, welcome voucher.
MasterCard Titanium Credit Card 420

5000

 VIP lounge access, buy 1 Get 1 offer, rewards on spends, travel, and shopping deals
Visa Infinite Credit Card 1575

30000

 Rewards on all spend, lounge access, golf privileges, concierge service.
Visa Platinum Credit Card 0

12000

 Rewards on all spend, lifestyle offers, travel discounts, and lifetime free card.
Skywards Infinite Credit Card 1575

30000

 Skywards Miles earning and redeeming, lounge access, golf, and valet offers.
Lulu 247 Platinum Credit Card 250

15000

 Cashback at Lulu, lounge access, golf privileges, Vox Cinemas offers.
Lulu 247 Titanium Credit Card 0

5000

 Cashback at Lulu, balance transfer with no interest, lounge access.
U By Emaar Visa Signature 400

10000

 Domestic and international rewards, lounge, and travel insurance benefits.
Etihad Guest Visa Elevate 1575

35000

 Etihad Miles, lifestyle and travel offers, lounge access, and concierge service.
Marriott Bonvoy World Mastercard Credit Card 1575

25000

 Marriott Bonvoy miles, travel benefits, lounge access, golf offers.
Visa Flexi Credit Card 735

15000

 Benefit flexibility, lounge access, and rewards on
domestic spending.
Etihad Guest Visa
Inspire Credit Card		 735

15000

 Etihad Miles, cinema and golf access, valet parking,
lounge access.

Eligibility Criteria for Self-Employed Individuals

If you’re a self-employed individual aiming to get your hands on one of these prestigious cards, you will need to maintain an average bank balance of AED 50,000 over the last three months. This requirement showcases your financial stability and ensures you are capable of handling a credit card. Additionally, you may have to open a Fixed Deposit with Emirates NBD, which holds the minimum deposit amount required for the card you’re interested in.
These are just a few options from the broad spectrum of credit cards offered by Emirates NBD. 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.
Sure, here are some potential questions that UAE residents might search for regarding Emirates NBD (ENBD) credit card eligibility, along with humanized answers based on the previously shared information:

FAQ’s

When you’re ready to apply for an ENBD credit card, you’ll need to have a few things on hand: your Emirates ID and passport (copies and originals), your latest salary certificate, your trade license if you’re a business owner, your bank statements from the last three months, and perhaps a security cheque—though we’ll let you know for sure if it’s needed when you apply.

Absolutely, you can. With ENBD, you can get up to five supplementary credit cards for your family members, and guess what? They won’t cost you anything extra. It’s a great way to extend the benefits to your loved ones.

You need to have celebrated at least 21 birthdays to be eligible for an ENBD credit card. So, if you’ve crossed that milestone and meet the minimum income threshold for the card that’s caught your eye, go ahead, and apply.

The minimum salary required varies by the type of credit card you’re interested in. For example, if you’re eyeing the Skywards Signature Credit Card, you should be earning at least AED 12,000. For the higher-end U By Emaar Visa Infinite, your salary needs to be at least AED 30,000. Make sure to check the specific requirements for the card you’re considering.

In many cases, you won't need to because ENBD uses an automated system to verify your income. This system checks the validity of your bank statements and income credits, making the process smoother and faster. However, it's always good to have your statements ready, just in case.

It might. The bank may do some background checks like calling you up or even visiting your workplace. But if you work for a larger, prominent company, these checks might happen less frequently. Remember, it all depends on the bank's policies.

Credit Card Eligibility in the UAE

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Credit Card Eligibility in the UAE: Understanding the Requirements and How to Qualify

The UAE’s vibrant financial sector offers a wide range of credit card options catering to diverse income brackets, spending habits, and financial needs. Understanding the eligibility criteria is essential for anyone applying for a credit card. This article provides a comprehensive overview of credit card eligibility in the UAE, outlining common requirements, factors that influence approval, and tips for navigating the application process.

Basic Eligibility Criteria

To qualify for a credit card in the UAE, applicants must meet several basic requirements set by banks and financial institutions:

Minimum Age: Most banks require applicants to be at least 21 years old, though this age limit can vary

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

Minimum Salary: The minimum salary requirement is crucial and varies widely depending on the card. It can range from AED 5,000 to over AED 20,000 per month for premium cards.

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

Some financial institutions request a security check based on the above profiles.

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Credit History and Score

In the UAE, credit scores play a pivotal role in financial transactions, especially when applying for credit cards. Here’s an in-depth look at how the credit scoring system works in the UAE and what scores are considered acceptable for obtaining a credit card.

Understanding Credit Scores in the UAE

The UAE’s credit scoring system is managed by the Al Etihad Credit Bureau (AECB). The AECB collects financial information from various sources, including banks, finance companies, and telecom companies, to create credit reports and scores for individuals and companies.

How Credit Scores Are Calculated

The credit score is a numerical representation of an individual’s creditworthiness, ranging from 300 to 900. It is calculated based on several factors, including:

Payment History: Timely payments on loans and credit cards improve your score, whereas late payments, defaults, and foreclosures negatively impact the score.

Credit Utilization: This refers to the amount of credit you are using compared to your credit limits. Lower utilization rates generally lead to higher scores.

Length of Credit History: A longer credit history provides more data and can lead to a higher score, assuming the history shows responsible credit use. The term that is used for customers with less than 12 months is a “Thin file” which is considered higher risk than those who have a history of more than 12 months. There can be specific policies applied by the bank for a lower number of months such as additional verifications, higher income requirements, additional documentation, employer profiles, and so on.

Types of Credit: Having a mix of credit types, such as credit cards, personal loans, and mortgages, can positively affect your score.

New Credit: Frequent applications for new credit can lower your score, as it might indicate financial distress.

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.

Tips to Improve or Maintain a Good Credit Score in the UAE

Make Payments on Time: This is by far the most important factor as payment behavior impacts your credit score directly. Always pay your bills and credit card dues on time. Setting up automated payments can help avoid missed deadlines.

Manage Credit Utilization: Try to keep your credit utilization below 30% of your total available credit. It is not necessary that one needs to max out on the credit available. Keep your utilization to your needs and ensure timely payments.

Regularly Monitor Your Credit Report: You may have a card that is accumulating charges since you forgot to close it. Hence, do check your credit report periodically for any inaccuracies or fraudulent activities. This can be done through the AECB’s website, and you can raise it to the concerned banks and have these issues fixed.

Limit New Credit Applications: Only apply for new credit, when necessary, as multiple credit inquiries can lower your score.

Maintain a Healthy Mix of Credit: Diversifying the types of credit can positively impact your score.

By understanding and managing these factors, individuals in the UAE can improve their credit scores, enhancing their eligibility for credit cards and other financial products.

Debt-Burden Ratio (DBR)

The DBR is another critical factor considered by banks. It measures the proportion of a person’s income that goes towards repaying debts, including loans and credit card payments:

DBR Limit: In the UAE, the maximum DBR allowed is 50% of your monthly income. This means that all your monthly debt repayments combined should not exceed half of your monthly earnings.

Additional Factors

Banking Relationship: Existing relationships with a bank can facilitate easier approval, especially if you have a history of responsible financial behavior with that institution. Banks do have more comfort lending to customers who have their salaries credited to their banks.

Type of Employment and Employer: Working for a well-recognized company or a government entity can improve your chances of approval as it implies job security and a stable income. Most companies have a process of identifying specific employers and listing them to offer credit to their employees. These listed companies are supposed to be low in risk considering the employment stability they offer to their employees. Having said that companies can move in and out of the listed zone based on the way their employees perform. The advantage of such listed companies is that the requirements for credit issuance are generally more lenient than those that are not listed.

Self Employed Eligibility

In UAE, eligibility even extends to self-employed persons to applying for credit cards, only eligibility criteria and documentation requirements are minutely different from the ones employed by the company. Banks usually require the individual to furnish bank statements and a profit and loss statement that can confirm consistent income from business along with sound financials. Further, for most cases of self-employment, a trade license or any other document indicating that the business would be run is submitted. For self-employed applicants, the issuer may need to scrutinize with more careful consideration the consistency and reliability of the income to avoid the risks that fluctuating incomes may pose. Self-employed individuals who would like to enhance their chances of getting their credit card application approved in the UAE need to have a good credit score and a low Debt Burden Ratio (DBR). Generally, a healthy cash flow, years in business, and line of business are considered key parameters while underwriting self-employed individuals.

Tips for Successful Credit Card Application

Check Your Credit Score: Before applying, check your credit score with the AECB. Address any discrepancies or outstanding debts. It is recommended that one keeps a tab on their credit score periodically. A credit report can be requested from Al Etihad Credit Bureau for a charge.

Understand the Card Benefits: Match the credit card features with your financial behavior and needs. For instance, if you travel frequently, consider cards that offer travel benefits.

Prepare Documentation: Have all necessary valid documents handy, such as your passport, visa, Emirates ID, salary certificate, and bank statements.

Consider Multiple Options: Don’t apply for multiple cards at once, as this can negatively impact your credit score. Instead, choose the best option that fits your needs and apply for that one first. Make use of the comparison sites to understand more about the products as these sites provide information on most of the banks.

Follow-up: After applying, keep in touch with the bank to check your application status and provide additional information if required.

Find out more details on the cards offered by the below banks by clicking the respective section.

ConclusionQualifying for a credit card in the UAE requires understanding and meeting the banks’ eligibility criteria, including financial stability, creditworthiness, and compliance with the DBR. By carefully preparing and choosing the right credit card, you can manage your finances more effectively and take advantage of the benefits credit cards offer.

Citibank Credit
Cards

FAB Credit Cards

ENBD Credit Cards

Emirates Islamic  Credit Cards

CBD Credit Cards
Mashreq Credit

Cards

 ADCB Credit Cards

DIB Credit Card

 Dubai First Credit Dubai Rakbank Credit
Simplylife Credit
Cards		 Standard Chartered Credit Cards

American Express
Credit Cards

 Deem Credit Cards Aafaq Credit Cards

Conclusion

Qualifying for a credit card in the UAE requires understanding and meeting the banks’ eligibility criteria, including financial stability, creditworthiness, and compliance with the DBR. By carefully preparing and choosing the right credit card, you can manage your finances more effectively and take advantage of the benefits credit cards offer.

FAQ’S

No. UAE resident who has a valid residency status and meets the eligibility requirements as set by the respective bank can apply for a credit card.

Of course, the minimum salary required can vary from one bank to another or one type of card to another, with the requirement usually starting at around AED 5,000 a month. Premium- type cards would naturally require a much higher salary.

A good credit score (usually above 680) broadens the approval rates of an applicant for acredit card, and in many cases, they could make them even eligible for the ones issuing better facilities and lower interest rates. A low score equals getting an application rejected or granted under less favorable conditions.

DBR would be the percentage of income that one uses to pay debts each month. In the UAE, the percentage would not exceed 50 percent. This comes as the other crucial guideline in ensuring a low DBR because, during these times, it could hinder credit card approval.

Yes, even a self-employed person can apply for a credit card but must show proof of financial stability by showing bank statements and proof of business income. The requirements might vary bank to bank based on their underwriting criteria.

Documents normally required include a copy of the passport, the UAE residency visa, Emirates ID, recent salary certificate, and pay slips or bank statements.

Yes, even expatriates with valid UAE residency may apply for the cards.

First, one should try to find out the reasons for which the application was denied. It may be due to low income, high DBR, or bad scores on the credit report. Address these issues wherever possible: pay down existing debts or have credit report errors corrected before applying fresh.

See that you have a regular income, which can be justified; keep your DBR low by clearing your dues regularly to have a good credit history. Get a suitable card according to your income level and financial standing.

Smart Spending: Top Credit Card Choices for UAE Residents Earning AED 5000 Monthly

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In the UAE, a common threshold for credit card eligibility is a minimum monthly income of AED 5000. This cutoff is strategically set by banks to ensure that applicants have a stable financial footing, which reduces the risk of default on credit payments. The threshold also reflects the cost of living and economic conditions in the UAE, aiming to match financial products to the earning segments that can manage them responsibly.

The importance of the Debt Burden Ratio (DBR) further plays a critical role in this context. Most UAE banks require that an individual’s DBR remain below 50% of their monthly income. This ratio, which measures the amount of income that goes towards paying debts, including loans and credit card payments, is a key indicator of financial health. A DBR capped at 50% helps ensure that individuals are not over-leveraged, reducing the risk of financial distress and defaults, which could impact both the consumer and the banking system negatively.

For customers earning around AED 5000, the options in terms of credit cards are quite varied, ranging from basic cards with minimal benefits to those offering cashback, reward points, and lifestyle benefits. These cards often come with no annual fee or fees waived for the first year, making them accessible and attractive for this income bracket. This approach by banks democratizes access to credit while promoting financial stability and encouraging responsible borrowing habits among residents.

The table provided offers a comprehensive comparison of various credit card options available in the UAE for residents with a minimum income of AED 5000. Let us first create a clearer table using the data you provided, and then delve into a detailed analysis.

Bank Name Product Name Top Reasons Annual Fee in AED Type
Citibank Simplicity Credit Card Easy Installment Plan. Cash Loan. No Cash Advance, Late or Overlimit fee. Free for life Free No Loyalty Reward
Emirates NBD Lulu 247 Titanium Credit Card Free for life card. 3.5% cash back at Lulu stores and online. Zero percent interest on balance transfers with no processing fee. Complimentary lounge access to over ten regional airports Free Reward Points
Emirates NBD Manchester United Credit Card Exclusive offers for Manchester United Football Club Fans. Earn “Red” rewards points on all spends. Up to 40% discount at over one hundred golf courses worldwide. Complimentary lounge access to over ten regional airports 262.5 Reward Points
Emirates NBD MasterCard Titanium Credit Card Complimentary access to over 10 VIP lounges. Enjoy MasterCard Buy 1 Get 1 offers. Earn rewards on all domestic & international spends. Exclusive offers and deals on travel, lifestyle & shopping. Get up to 40% discount at over one hundred golf courses worldwide 420 Cashback
Emirates NBD U By Emaar Visa Family Card Free for life. Discounts & offers at Emaar establishments. Earn Upoints on spends. Buy one get one free on movie tickets at Reel Cinemas Free Reward Points
FAB du Titanium Credit Card No annual fee. Ten percent cashback on du bills. Fab rewards are instantly redeemable for du bills. Access to airport lounges across the Middle East Free Cashback
FAB FAB SHARE Standard Credit Card Get two-for-one cinema tickets at VOX Cinemas. Biometric verification is built into your credit card. Receive up to four free supplementary cards for your family Free Reward Points
FAB GEMS Titanium Credit Card No annual fee. Up to 4.25% fixed discount on advanced payment of GEMS fees. Ten percent Cashback with Shop Smart. Enjoy access to airport lounges across the Middle East. Enjoy exclusive offers at restaurants, premium retail, etc. Free Reward Points
FAB Manchester City FC Titanium Card No Annual fee. Win a trip to Etihad Stadium to watch Manchester City. Win a chance to meet the Manchester City Team in the UK. Access to airport lounges across the Middle East Free Cashback
Emirates Islamic Cashback Card Up to 5% cash back on electronic store purchases & telecom. No minimum spend for earning cashback. Up to 1% cash back on all local and international transactions. AED 200 gift voucher from noon as joining offer 350 Cashback and Islamic
Emirates Islamic Flex Credit Card AED 200 noon voucher (T&C’s apply). Up to 2.25 EI SmartMiles per AED 1 spend. Unlimited EI SmartMiles. Use the “Instant Purchase” feature to redeem EI SmartMiles. Free for-life card Free Reward Points
Emirates Islamic RTA Credit Card Up to 10% cash back on RTA transport payments, and fuel spends. Free for life. Additional Cashback on Fuel and RTA payments. Up to 2.25% cashback on international spends. Up to 1.25% cash back on all other spends Free Cashback and Islamic
CBD One Four plans offered under this Visa Signature Card. 50% off on Vox & Reel cinemas. Complimentary Valet, Golf and Airport lounge access. Enjoy a regular monthly cashback of up to AED 500. Pay per month and choose your design Free Reward Points
CBD Smiles Visa Platinum Fifty percent off movie tickets at Novo cinemas. 5 Smiles points on any spends at Etisalat or on Smiles app. Up to 2 Smiles points on international spends. Buy 1 Get 1 Free dining and lifestyle offers. Airport lounge access 208.95 Reward Points
CBD Visa Platinum Card Free for life. Zero percent Balance transfer offer for 12 months. Fifty percent discount on two cinema tickets at Novo cinemas per month. Cinema offer in Nov Free Cashback
CBD Yes Rewards Free for life. Fifty percent off cinema tickets at Vox, Reel & Novo cinemas. 40,000 Yes Rewards welcome bonus. Four complimentary rounds of Golf. Complimentary access to over one thousand airport lounges 208.94 Reward Points
Dubai Islamic Al Islami Classic Credit Card No annual fee. Roadside assistance services. Personal accident & travel insurance cover Free Reward Points
Dubai Islamic Al Islami Gold Credit Card No annual fee. Roadside assistance services. Personal accident & travel insurance cover Free Reward Points
Dubai Islamic Al Islami Gold Premium Credit Card No annual fee. Roadside assistance services. Personal accident & travel insurance cover Free Reward Points
Dubai Islamic Consumer Reward Card No minimum spend limits for cashback. Good cashback rates on specific categories 157 Cashback and Islamic
Dubai Islamic Emirates Skywards Platinum Credit Card 5,000 Bonus Skywards Miles. Earn Skywards Miles on all spends 525 Travel
Dubai Islamic Johara Classic Credit Card No annual fee. Roadside assistance services. Personal accident & travel insurance cover Free Reward Points
Dubai Islamic Johara Gold Credit Card No annual fee. Roadside assistance services. Personal accident & travel insurance cover Free Reward Points
Dubai Islamic Johara Gold Premium Credit Card No annual fee. Roadside assistance services. Personal accident & travel insurance cover Free Reward Points
Dubai Islamic Prime Classic Card No annual fee. Roadside assistance services Free Reward Points
Dubai Islamic Prime Gold Card No annual fee. Roadside assistance services. Personal accident & travel insurance cover Free Reward Points
Dubai First Amazing Platinum Card Twenty-five percent savings on 1-day tickets. Fifteen percent dis. on F&B & a 10% discount on merchandise inside parks. Q-Fast privileges 400 Reward Points
Dubai First Cashback Card Five percent cash back on online purchases,  utility bills, and school fees. Five percent cashback at the supermarket. One percent cashback on everything else. Unlimited Airport Lounge access. Twenty percent off on Careem rides 300 Cashback
Dubai First Dubai Moments Titanium Card Earn 18,000 Bonus Dubai Mementos. Earn up to 2 Dubai Mementos for every Dirham spent. Fifty percent off Movie Tickets, anytime, anywhere 100 Reward Points
ADCB Lulu Titanium Credit Card Interest-free balance transfers. Lulu points can be redeemed with the supplementary card. Complimentary airport lounge access. Benefits at Ferrari World & Yas Waterworld Free Reward Points
ADCB Talabat ADCB Credit Card Free for life -no annual fee, ever. AED 500 Welcome Bonus. Unlimited free delivery on Talabat. Thirty-five percent back on Talabat orders is applicable on the first ten orders. 1.25% back on other purchases Free Reward Points
ADCB Touchpoints Classic Credit Card No Annual Fee. Earn MyChoice Touchpoint bonus rewards. Benefits at Ferrari World & Yas Waterworld Free Reward Points
ADCB Touchpoints Gold Credit Card Complimentary airport lounge access. Zero percent interest for up to 12 months for school & college fees. Benefits at Ferrari World & Yas Waterworld Free Reward Points
ADCB Touchpoints Titanium Credit Card No Annual Fee. Zero percent interest for up to 12 months for school & college fees. Benefits at Ferrari World & Yas Waterworld. Complimentary airport lounge access Free Reward Points
Mashreq Cashback Card Five percent Cashback on dining spends in the UAE. No annual fees for your Primary and Supplementary cards. AED 500 Cashback as a joining bonus. Twenty percent Cashback at your favorite ecom merchants Free Cashback
Finance House Cartnet Up to 50% Cashback. Instant AED 400 on successful referral. 55+ dining and lifestyle discounts. Fifty percent Cashback on movie tickets. Free Supplementary Cards Free Cashback
Finance House Gold Covered Card Free for life Free Islamic
Finance House Platinum Credit Card 55+ dining and lifestyle discounts . Fifty percent Cashback on movie tickets. Free Supplementary Cards Free Cashback
Finance House World Covered Card Free for life Free Islamic
RAKBANK Air Arabia Platinum Credit Card Joining offer of 15,000 Air Rewards points. Complimentary airport pick up & drop off up to six times/year. Annual Fee waiver second year onwards(if spend criteria met). Roadside assistance and Concierge services 400 Reward Points
RAKBANK Kalyan Jewelers Credit Card Earn “Goldback” on all spends. Additional saves on spends at Kalyan Jewelers. No annual fee ever Free Reward Points
RAKBANK Mastercard Credit Card Free for life card . Up to 9 Supplementary Cards free. Purchase protection & travel insurance Free Cashback
RAKBANK nmc Credit Card Exclusive discount at nmc hospitals. Free for life card. Earn cashback on all spends Free Cashback
RAKBANK RED Credit Card Earn up to 1.5% discounts on all spends. No annual fee ever Free Cashback
Simplylife Cashback Credit Card Free for Life. Earn 1% cashback on ALL spends. Two free movie tickets anywhere in UAE Free Cashback
Simplylife Family Credit Card Free for life. Two free movie tickets anywhere in UAE Free No Loyalty Reward
Simplylife Family Credit Card Premium Up to six free cinema tickets each month 524 No Loyalty Reward
Union National Bank ADCOOP  Extra and Spar Card No annual fee. High cashback rates at ADCOOP & Spar Abu Dhabi. Exclusive discounts at ADCOOP & Spar outlets Free Cashback
Union National Bank Cashback Card High cashback rate on all spends 262 Cashback
Union National Bank Classic Card Fifty percent value back on cinema spends. Earn UNBmiles on all spends Free Reward Points
Union National Bank Egypt Air Gold Credit Card No annual fee. Earn Egypt Air reward points on all spends Free Reward Points
Union National Bank Gold Card Fifty percent value back on cinema spends. Earn UNBmiles on all spends 262 Reward Points
Union National Bank International Travel Card No annual fee. Attractive forex rates. Fifty percent value back on cinema spends Free Reward Points
Union National Bank Titanium Card Earn UNBmiles rewards on all spends. Cinema offers at any cinema, anytime. No annual fee Free Reward Points
ADIB Rotana Rewards Exclusive Visa Card Exclusive discounts at Rotana properties. Earn Rotana reward points on all spends. Good travel & lifestyle benefits 1250 Reward Points

Analysis

The UAE credit card market offers a diverse range of options tailored to various lifestyles and spending habits. Most of the cards in the list provide a “free for life” annual fee, which is a significant advantage for consumers looking to save on yearly costs associated with credit cards.

Reward Schemes and Cashback

Cards like the Emirates NBD Lulu 247 Titanium Credit Card and the FAB du Titanium Credit Card offer specific cashback benefits on purchases at selected retailers and services, making them excellent choices for loyal customers of those brands. Meanwhile, the Emirates Islamic Cashback Card provides broad cashback categories including electronics and telecom, appealing to tech-savvy consumers.

Exclusive Benefits and Lifestyle Perks

Many cards offer exclusive access to events, locations, or discounts, such as the Manchester United Credit Card from Emirates NBD, which is tailored for fans with discounts and experiences related to the football club. Additionally, premium cards like the CBD Yes Rewards and Emirates NBD MasterCard Titanium offer luxurious benefits such as golf course access and valet services.

Travel Benefits

Travel-related benefits are common among these credit cards. Options like the ADCB Touchpoints Titanium Credit Card and FAB Manchester City FC Titanium Card offer complimentary airport lounge access, making them ideal for frequent travelers. Additionally, travel insurance and roadside assistance are valuable inclusions found in several offerings, particularly from Dubai Islamic Bank.

In conclusion, the variety of credit cards available in the UAE at this income level offers something for everyone, from cashback and reward points to luxury travel benefits and exclusive experiences. When choosing a card, it is crucial to consider personal spending habits, lifestyle needs, and whether the benefits outweigh any costs associated with the card, such as the annual fee after the initial waived period.

FAQ’s

Many major banks such as Emirates NBD, FAB, ADCB, Emirates Islamic, CBD and Dubai Islamic Bank offer credit cards to individuals earning AED 5000 per month.

Yes, several banks offer credit cards with no annual fees or fees waived for the first year, including options from Citibank, Emirates NBD, and FAB.

Rewards vary by card but can include cashback, points redeemable for goods and services, discounts on dining and shopping, and access to airport lounges.

The Debt Burden Ratio (DBR) should not exceed 50% of your monthly income. This ratio ensures you are not overly indebted and can manage additional credit.

Yes, while some banks may require a salary transfer, many credit cards are available without this requirement.

Interest rates can vary but typically range from 2.99% to 3.5% per month. Rates can be higher or lower depending on the card’s features and benefits.

Yes, many credit cards offer cashback on specific categories such as groceries, fuel, dining,and utility payments.

Cards like the Emirates NBD Lulu 247 Titanium Credit Card and the FAB du Titanium Credit Card are great for groceries and utility bills due to specific cashback offers.

Yes, you can apply for multiple cards; however, keep an eye on your overall DBR to ensure it remains within the acceptable range.

It's important to manage spending and repayments carefully to avoid accruing debt and damaging your credit score.

After establishing a history of timely payments and proving financial stability, you can request a limit increase from your bank.

Pay attention to fees, penalty charges, interest rates, and the terms for rewards and benefits to ensure the card suits your financial situation.

While most cards are available to both expatriates and nationals, expatriates should ensure they meet residency and other specific requirements.

Approval times vary by bank but typically range from a few days to a week, depending on the bank’s processing time and your documentation.

Navigating Credit Card Eligibility and Document Requirements for Citibank Cards

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Navigating Credit Card Eligibility and Document Requirements for Citibank Cards Citibank’s range of credit cards in the UAE is designed with a personal touch, catering to various tastes and financial needs. Whether you’re looking to amplify your travel experiences with rewarding points, enjoy cashback on your daily purchases, or indulge in exclusive lifestyle perks, Citibank has a card just for you. As a prominent figure in the UAE’s banking landscape, Citibank understands the diverse requirements of its customers, from busy professionals to enterprising business owners. Each credit card from Citibank offers not just financial convenience but also a gateway to a world of luxury and practicality, making every transaction smoother and more rewarding. Let us take a quick look at what are the general eligibility criteria while applying for a Citibank credit card in the UAE. Basic Eligibility Criteria: To be eligible for a credit card in the UAE, applicants must fulfill several basic criteria set by Citibank Minimum Age: Applicants must be at least 21 years old. Valid UAE Residency: Applicants should generally be UAE residents, verified through a valid residency visa and Emirates ID. Minimum Salary: The salary threshold is critical and varies depending on the card, starting from AED 5,000 per month for a simplicity credit card. Please refer to the table below for salary details on all credit cards offered by Citibank in the UAE. Employment: Stable employment and regular income are important criteria, Citibank may perform verification checks to confirm employment and income details, which could involve phone calls or onsite visits, depending on the employer’s prominence. The frequency and nature of these checks are determined by the bank’s underwriting standards. Income verification is often streamlined through automated systems that validate bank statements and income deposits, potentially reducing the need for paperbased income documentation. Establishing Credit Worthiness Acceptable Credit Scores for Credit Cards: Scores 300 619: Considered low. Applicants may struggle to gain approval for credit cards and might only qualify for secured cards or those designed for lower credit scores. Scores 620 657: Fair. Individuals within this range are often seen as subprime borrowers and could face higher interest rates or less favorable terms. Scores 657 – 750: Good. Applicants in this range are generally considered lowrisk by banks and are likely to be approved for most credit cards. Scores above 750: Excellent. These scores qualify for the best credit cards available, including those with premium benefits, lowinterest rates, and high credit limits. Documentation required to apply for Citibank Credit Card Documents required for a salaried applicant. 1. Emirates ID and passport copies, with originals for verification. 2. Latest salary certificate. 3. Bank statements from the last three months clearly show three salary credits that match your declared income. The bank does a systemic check to verify income through a centralized solution available in the UAE. Bank statements might be required in some instances. Documents required for a selfemployed applicant. Emirates ID and passport copies, with originals for verification. Trade license with percentage page and MOA if you are a selfemployed / business owner. Bank statements from the last three months, with ATM statements also acceptable. In the case of business owners, the bank underwrites the customers on key variables such as Years in business, Annual turnover, Cash flows, Nature of Business, and so on. Card Options and Benefits Let’s explore some of the credit cards available, highlighting their minimum salary requirements, annual fees, and key features.

Product Name

Annual Fee in AED

Profit Rate

Top Reasons

Minimum Salary
Emirates Ultima 3000

3.50%

 Earn up to 2.5 Skywards Miles per $1 spend. Complimentary Emirates Skywards Silver membership. Exclusive 100% Metal card. Complimentary golf, valet parking, and cinema ticket offers.25,000 welcome bonus Skywards Miles 36750
Emirates Ultimate 800

3.50%

 Earn up to 1.25 Skywards Miles per $ spend;1 Complimentary golf a month at the finest courses in UAE. Complimentary valet parking and cinema ticket offers. Unlimited access to 1000+ airport lounges. 18000
Prestige Credit Card 1500

3.50%

 Strong rewards earnings & travel benefits 30000
Rewards Credit Card First Year Free

3.50%

 Earn ThankYou Reward points on all spends; Unlimited global airport lounge access to 1000+ lounges. Flat 30% off 2 movie tickets at VOX Cinemas every month. No annual fee in year 1. Spend-based reversal from year 2, minimum spend of AED 9,000 else AED 300 applies 8000
Cashback Credit Card 0

3.50%

 No caps, no minimum spend, no redemption process & no spending.3% on non-AED spend | 2% on Grocery Spend | 1% on all Other. Unlimited access to 1000+ lounges worldwide. No Annual Membership fee in year 1. Get 15% off at Carrefour, 10% off at Amazon. ae 8000
Premier Credit Card 750

3.50%

 Complimentary Movies and Golf Offers. Flat 30% off 4 movie tickets at VOX Cinemas every month 15000
Emirates World Card First Year Free Year 2 onwards AED 400

3.50%

 Earn up to 1 Skywards Mile per USD spent. Flat 30% off 2 movie tickets at VOX Cinemas every month. Unlimited free lounge access for supplementary holders too. No annual fee in Year 1 12000
Citi Ready Credit 300

15%

 Get cash faster than ever at a special rate of 15% pa. Cash up to 6x your monthly salary or AED 175,000. Instant cash advance up to 100% of your credit limit 8000
Simplicity Credit Card 0

3.50%

 Easy Installment Plan. Cash Loan. No Cash Advance, Late or Overlimit fee. Free for life 5000

These are just a few options from the broad spectrum of credit cards offered by Citibank. 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. Citibank frequently presents enticing signup promotions, particularly encouraging online applications. If you’re keen to get your hands on a Citibank credit card, simply follow the links provided below in the table to apply directly on Citibank’s website in no time. It’s worth noting that digital applications generally enjoy quicker processing times and often come with appealing introductory deals.

FAQ’s

You';ll need to provide identity proof (such as a passport or driver's license), address proof, income proof (like recent bank statements or salary slips), and possibly a few other documents depending on your employment status.

Your age, income, credit score, employment status, and nationality are key factors. Avoiding payment defaults and not applying for multiple credit cards at once can also influence your eligibility positively.

Improving your credit score, ensuring timely bill payments, and maintaining a low debt-to- income ratio, can certainly help boost your eligibility.

A credit score ranging from 700 and above is typically considered good for credit card approvals, though Citibank does not set a strict limit.

It can take anywhere from 2 to 5 business days to review your application, after which you'll receive your card if approved. The process is much faster if choose to apply online.

Yes, you can apply directly through Citibank’s website or by clicking on Soulwallet, and online applications are often processed faster.

The concierge service can assist with travel bookings, event planning, and other personal services.

Navigating Credit Card Eligibility and Document Requirements for FAB Cards

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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.

Product Name

Annual Fee

Profit Rate

Top Reasons

Minimum Salary
GEMS Titanium Credit Card AED 0

3.50%

 No annual fee, up to 4.25% discount on GEMS fees, 10% cashback with Shop Smart, Airport lounge access, Special offers in dining and retail AED 5,000
Rewards Platinum Credit Card AED 300

3.85%

 Earn FAB Rewards, Discounted movie tickets, Two airport transfers per year, Purchase protection, Extended warranty AED 8,000
Etihad Guest Infinite Credit Card AED 2,500

3.50%

 75% discount on Etihad Miles, Fast track to gold membership, Inflight Wi-Fi vouchers, Etihad Miles Accelerator, 55,000 welcome miles AED 30,000
Etihad Guest Signature Credit Card AED 1,500

3.50%

 35,000 welcome miles, 50% discount on Etihad Miles, 1000+ lounge access, Fast track to silver membership, earn 6.5 miles per AED 10 spent AED 15,000
Visa Infinite Travel Card AED 1,500

3.75%

 AED 1,500 travel voucher, no foreign transaction fees, Complimentary hotel nights, Redeemed on travel bookings, Unlimited lounge access AED 30,000
Etihad Guest Platinum Credit Card AED 500

3.50%

 10,000 bonus miles, 25% discount on miles, Miles’s accelerator, Airport transfers, Free cinema tickets AED 8,000
Al-Futtaim Platinum Credit Card AED 0

2.08%

 No annual fee, two airport transfers, Exclusive offers and cashback at Al-Futtaim, Lounge access, 0% balance transfer for 12 months AED 8,000
Cashback Credit Card AED 315

3.50%

 5% cashback on supermarkets, 3% on school fees and dining, Unlimited lounge access, Instant FAB card issuance AED 10,000
Rewards Signature AED 400

3.85

 Earn FAB Rewards on spending, Travel, and lifestyle discounts, Two airport transfers, Free lounge access AED 15,000
Rewards Elite Infinite AED 800

3.85

 Enhanced FAB Rewards on gaming, earn 4 Rewards per AED 1 spent, Valet parking, Golf discounts, Lounge access AED 50,000
du Titanium Credit Card AED 0

3.75%

 No annual fee, 10% cashback on du bills, Redeemable rewards for du bills, Lounge access AED 5,000
Manchester City FC Titanium Card AED 0

3.50%

 No annual fee, win a trip to Etihad Stadium, Meet Manchester City team, Lounge access AED 5,000
Ferrari Infinite Credit Card AED 550

3.50%

 Exclusive Ferrari offers, Premium lifestyle benefits, Premium travel benefits AED 30,000
du Platinum Credit Card AED 0

3.75%

 No annual fee, 10% cashback on du bills, Redeemable rewards for du bills, Lounge access AED 15,000
Rewards Infinite AED 600

3.75%

 Earn 5 FAB Rewards per AED 1 spent, Access to 1000+ lounges, multi-trip travel insurance, Discounted movie tickets, Golf discounts AED 30,00

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

When applying for a FAB credit card, you'll need to provide:
- A valid Emirates ID or passport copy.
- A recent salary certificate or pay slip issued within the last month.
- Bank statements for the last three to six months, depending on specific card requirements.
However, you can now apply for a FAB Credit Card through its mobile application with an
Emirates ID card.

Absolutely! Expatriates are welcome to apply for FAB credit cards. The documentation remains largely the same, though you might also need to provide a copy of your resident visa along with the standard requirements.

Yes, each FAB credit card comes with a specific minimum salary requirement. For example, basic credit cards might require a minimum salary of AED 5,000, while premium cards could require AED 30,000 or more. It's important to check the requirements for the specific card you're interested in.

Self-employed individuals can apply for a FAB credit card. You would need to provide your trade license as an additional document, along with the standard set of documents like your Emirates ID, bank statements, and proof of income through your business’s financial statements.

The processing time can vary, but it generally takes about a week once all required documents are submitted. If there are delays due to document verification or additional requirements, FAB will keep you informed.

Generation Spend: Decoding the Shopping Habits of Boomers, Gen X, Millennials, and Gen Z

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The way we shop tells a story about who we are, and that story differs dramatically across generations. From Baby Boomers who witnessed the rise of consumerism to Gen Z prioritizing sustainability and experiences, each generation leaves its unique mark on the shopping landscape. Let’s dive into the spending habits of these four major generations:

1. Baby Boomers (between 1946 and 1964): The Brand Loyalists:

  • Value: Quality, durability, and brand recognition. Boomers grew up with strong brand loyalty, believing in the “buy it once, buy it right” mentality. They prioritize established brands with a proven track record and invest in items built to last.
  • Shopping Habits: Physical stores remain their preferred domain, valuing the personal touch and expert advice of salespeople. While they’re embracing online shopping, caution and research are key.
  • What they buy: Home improvement, high-quality appliances, travel experiences, and luxury goods.

2. Gen X (between 1965 and 1980): The Pragmatic Penny Pinchers:

  • Value: Practicality, value for money, and avoiding debt. Gen X witnessed economic uncertainty and prioritize responsible spending. They seek deals and discounts, preferring functionality over flashy branding.
  • Shopping Habits: A mix of online and physical stores, valuing convenience and price comparisons. They’re comfortable with research and comparison shopping before making a purchase.
  • What they buy: Durable everyday items, tools and gadgets, practical clothing, and experiences with value, like camping trips or outdoor adventures.

3. Millennials (between 1981 and 1996): The Experience Seekers:

  • Value: Experiences, personal connections, and social responsibility. Millennials prioritize experiences over material possessions, seeking adventure, self-expression, and community. They’re also more conscious of ethical sourcing and sustainability.
  • Shopping Habits: Primarily online, drawn to user reviews, social media recommendations, and personalized experiences. They value convenience and fast shipping.
  • What they buy: Travel, dining out, entertainment, fitness and wellness experiences, and ethically sourced or sustainable products.

4. Gen Z (mid-to-late 1990s ): The Digital Natives:

  • Value: Authenticity, individuality, and social impact. Gen Z is highly connected and values brands that align with their social and environmental values. They prioritize authenticity and self-expression over trends, seeking unique and personalized experiences.
  • Shopping Habits: Almost exclusively online, relying heavily on social media recommendations, influencer endorsements, and peer reviews. They’re comfortable with secondhand shopping and upcycling.
  • What they buy:  Sustainable fashion, secondhand clothing, technology, experiences with social impact, and products that promote individuality and self-expression.

These are just broad strokes, and individual preferences within each generation can vary greatly. However, understanding these general trends can help marketers and businesses tailor their offerings and communication to resonate with different age groups.