Credit is changing within the UAE


For many years now, obtaining credit cards within the UAE has been relatively easy. There are many good offers and deals ready to tempt you to one of the various companies out there.

Dubai is very much one of the powerhouses of the entire MENA region.  With subsidised oil money, investment and improvement is widespread in thecountry, they are expanding massively.

And with that development comes better jobs, more money and the opportunity for the civilians to apply for financial benefits.

Explore the world of credit cards to ensure that you get the deal that is right for you.

Applying for a personal loan in Dubai

One problem with applying for credit and financing is the telemarketing industry. Once you end up on their list, the problem calls will start and you could end up getting called several times a day, which can get very annoying.

Despite the UAE Central Bank officially banning the practise of repeated, unsolicitedtelemarketing calls, many still seem to slip through the net. And once you end up on this list it can be a gruelling process to get yourself removed. The best thing to do is try to avoid giving out your contact details from the outset.

Another option if you are interested in taking out some form of credit, is having a look at comparison websites. These are readily available in the MENA regions and will be able to show you which banks have the best deal and which are not the cheapest option.

Another important factor to consider when choosing who to lend with is that they are a reputable lender. Do your research, and have a chat with somebody from one of the best banks, like Citibank, and see what they will offer you if you open up an account.

Prepare for excess costs

Interest rates in the UAE can often be very high, around 36% per year on any overdue balance, so you have to be very careful of accumulating debt. Although this is often seen as a preventative measure, it can make paying your credit card debt back very difficult.

If you are interested in purchasing a credit card, as with any monetary debt just make you are able to keep on track of them. It is important to pay your credit card dues on time, and to always meet at least the minimum payment, if you cannot pay in full.

And there are other costs involved too. If you have credit card debt, interest is more than likely not the only payment you are going to be required to make. There are excess fees to be aware of, so always ask your lender about these before you apply.

Play it smart

The best way to keep on top of any credit card debt is to play it smart and use the rules of your current country to ensure that you keep your payments manageable.

Here are a few hints and tips:

  • It is a good idea to search around a few UAE banks for the best deal.
  • Make sure to keep an eye on your debt and never just let it run out of control.
  • Try to avoid withdrawing cash from credit cards since this is very expensive.
  • Bear in mind that even if you are just one day overdue on your credit card payments, many banks will charge you for the whole month.

Come and talk to Citibank about their credit card deals. They have an array of cards that are inclusive of reward points, cash rebates and a whole host of other benefits. 


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