Applying For Your Dubai Credit Card- What Are The Criteria?

 

Owing to their increasing popularity, Credit Cards have found a place in the wallets of a majority of people. Similar to debit cards in most aspects, Credit Cards have proved to be more convenient due to the payment policies, benefits, and rewards. It meets all the regular transaction requirements of the users and allows them to make a collective payment at a later date.

Credit Card services are exceedingly popular in Dubai because of the countless perks offered to cardholders. These perks include attractive discounts on shopping, cinema tickets, restaurants, spas, and more. Credit Cards in Dubai are an absolute blessing as they allow their users to supervise and regulate their finances efficiently.

Before you decide to apply for Credit Cards in Dubai, it is imperative that you consider all your options and review certain factors relevant to your Credit Card services. These factors include the following:

• Extra costs- Most banks and financial institutions have hidden charges that are levied on customers for their profit. While there are some fees that Credit Card users are bound to pay, there are a few other charges that may not be necessary. It is advised that you consider these factors before you apply for Credit Cards in Dubai.
• Rate of interest- Owing to competition in the banking sector, most banks offer low-interest rates on their Credit Card services to attract more clients. It is suggested that you research thoroughly to find a bank offering interest rates that suit your requirements.
• Rewards- Most major financial companies offer enticing rewards and benefits on their Credit Card services. These benefits may include gifts, vouchers, discounts, etc. Hence, it is recommended to explore the perks offered by different banks before you decide to apply for Credit Cards in Dubai.

It should be noted that clients are required to meet certain eligibility requirements before they can apply for Credit Cards in Dubai. The eligibility criteria for applying for a Credit Card in Dubai are explained below:

• Proof of identity- First and foremost, to be eligible to apply for a Credit Card in Dubai, you must have proof of citizenship or proof of Emirates ID.
• Age- Typically, most banks and Credit Card providers have set an eligibility criterion in terms of age. It is observed that to apply for Credit Cards in Dubai, one must be at least 21 years old.
• Minimum income- It should be noted that to be eligible for Credit Card services in Dubai, one must have a minimum income of AED 5000.

Let us now move on to the documents that a client is required to produce for the application of their Credit Cards in Dubai. The documents that need to be submitted to the banks or financial intuitions are listed below.

• Documents that must be provided by salaried employees:

1. Passport/any other proof of identity
2. Authentic residence visa
3. Emirates ID
4. Certificates verifying monthly earnings
5. Bank account statements

• Documents that must be provided by self-employed individuals:

1. Passport/any other proof of identity
2. Certificates verifying their trade
3. Emirates ID
4. Authentic residence visa
5. Bank account statements

On completion of the Credit Card application process and due submission of the supporting documents, the clients need to await the approval of their application. The banks or financial institutions employ officers to validate the credibility of the documents and the accuracy of the information provided by the clients. The dominant deciding factor that influences your Credit Card application is your credit score. Your credit score is a grade that attests to your punctuality in repaying loans and thus indicates your creditworthiness.