10 Tips for Evaluating the Best Credit Card in UAE

 

UAE is the land of riches and opportunity. Credit cards are the fruits of modernism-which have made life exciting, inspirational and certainly colourful.Customers can select the best credit card in Dubai after making a quick analysis with regards to the amazing features such as perks and rewards etc.

The amazing benefits of credit cards will make our hearts race by giving you access to the top facilities worldwide during travel and vacationing. But good fortune will come only to the patient. You should be looking out for the following tips to get the best credit card offers for your regular needs.

1. Types of Credit Card

There is nothing far away from the truth that all credit cards are created equal. There are a wide spectrum of credit cards depending on the usage and customer profile. There might be differences among the credit cards issued by the same company.

●       Standard credit cards in Dubai do not offer additional perks and have a low interest for attracting customers.

●       Balance transfer credit cards offer a reasonable introductory interest rate and may also charge you a one-time low fee.

●       Premium credit cards entail a lot of benefits, such as hotel concierge facilities, and they come with a high annual fee.

2. Credit Limit

Most of us dream about getting a high credit limit. Imagine the latest version of gadgets at your disposal or having that long-cherished foreign vacation, all made possible with an enhanced credit limit. The maximum credit limit will be a combination of financial charges, cash advances, purchases, balance transfers, and other fees. Also, note that a high credit limit is advantageous; it can also be a detriment when you cross the stipulated limit. Credit card companies can extract heavy charges in the form of over-the limit-fee, leading to increased interest rates. Some best credit cards in Dubai don't have a pre-set spending limit which is only for select clients depending on their previous credit history, income flows and purchasing factors.

3. APR

APR (Annual Percentage Rate) is applied when the grace period is crossed.   Credit card companies have a unique method of calculating APR depending on the purchasing and customer income profile. If you want to get the best credit card in UAE, pay attention to the fixed or variable nature of the APR. Read the fine print carefully and understand the effect of APR in your monthly finances, and go for a credit card that suits your needs.

4. Grace Period

This refers to the time period that is permitted bythe credit card company before which you can clear the entire balance without incurring a finance charge. Carrying a balance from previous months will preclude you from enjoying the benefits of the grace period for the next purchases. Grace periods are not generally granted to balance transfers and cash advances.

Make a careful examination of the credit card applications to find the length of the grace period. Your monthly statements will also mention the number of days for the duration of the grace period.

5. Rewards and Perks

Rewards and perks are a star attraction of the best credit cards in UAE such as cashback offers, air miles and points, which can lead to good discounts on what you buy in the future.While most vanilla version credit cards offer 1-2 per cent, imagine getting 5 to 6 % cash back on a few select credit cards when shopping in your favourite supermarket. Pre-set cashback rates are introduced in select categories,while some other cards offer extra big rewards.The best credit cards in UAE guarantee free shipping for purchases made at specified retailers and also allow returns for items without a receipt.

6. Travel Perks

Credit cards make you feel like royalty when you are travelling. It is no exaggeration that the best credit cards in Dubai offer access to VIP lounges and eliminate the hassles of waiting periods and long queues in airports. The top credit cards that offer additional travel-related perks are rental car insurance and road assistance.

Who doesn’t want the best discounts in some of the amazing hotels across the world? Going for the best credit card gives you a one-of-a-kind opportunity to benefit from room upgrades. Late check-outs and even free nights.Lost luggage gives travellers a splitting headache. The best credit cards effectively address all such travel woes in Dubai, which even offer reimbursement for lost luggage up to $3000.

7. Investment benefits

Many are not aware of the tantalizing benefits of the best credit cards in the Dubai. If you are thinking seriously about savings, there are some exemplary options like depositing the cash rewards into a specific account, such as a college savings plan.

8. Big Signing-up Bonuses

A hefty sign-up bonus surely attracts the right kind of clientele for credit cards. The quantum of the bonus varies across time. For example, the best credit cards in Dubai will offer upto 50,000 points when a certain value of transactions is done in the first three months. The points can be redeemed to give a total value of $ 500 or more, which is an attractive feature of all travel-related credit cards.

9. Zero foreign transaction fees

If you are planning to get a credit card, then there is a good probability that you aspire to go to foreign countries.It is prudent to select a credit card company that encourages foreign travel by applying zero fees for international transactions. The best travel-related credit cards in the Dubai don’t charge foreign transaction fees.

10. Cardholder benefits

Apart from the low fees, interest rates and rewards, there is another spectrum of benefits that the best credit cards offer to users, such as cell phone protection that covers the loss or damage of cell phones and hotel loyalty programs. A few credit card companies are also offering free companion flight tickets and trip cancellation insurance.

Give wings to your desires and aspirations by getting the best credit card in Dubai. Going through the most important features will help you to take maximum advantage of these wonderful tools of financial liberation for the GenZ generation. For all the hardworking professionals out there who want a sparkling life studded with the latest gadgets, amazing travel experiences and getting some cool discount offers, make sure to watch out for the above tips to get the most out of credit cards.