Best Credit Cards in Dubai for Everyday Use

Looking for the best credit cards in Dubai that offer not just reliable credit lines but also top-notch benefits and perks? Do note that there are numerous financial institutions that offer credit card services throughout the UAE. Each of these institutions has its own version for everyday usage. 

In this post, you’ll learn about the best credit cards in Dubai, including their offers and eligibility. However, before we get into the details of the best credit cards in Dubai, let’s first understand what a credit card is, what are its general usage and the criteria for application in Dubai. And at the end, we’ll also look at how to find out which credit card in Dubai is best for you.

What is a credit card

Credit cards are a type of loan that you can use to purchase goods and services. This purchase is an installment loan that you repay in installments with your secured source of income over time or in one go.
The credit card issuer gives you a line of credit or an amount limit up to which loan can be withdrawn in a month which is typically used to make purchases. When you make a purchase using a credit card, the credit card company charges the amount to your account and pays the retailer for you. You can pay off your credit card balance in full each month on time to avoid interest charges. 

Credit card use can be a good way to build a strong credit score, as long as you always make payments on time. However, using a credit card often comes with certain risks. So, before you leap on to know the best credit cards in Dubai, let’s first understand what are the pros and cons of using credit cards.

Pros and cons of getting a credit card

Everything that sounds too good to be true, is probably so. Similar is the case with credit cards in Dubai. While it certainly has lots of benefits and offers unbeatable deals, it’s also important to keep in mind the various caveats that come with it. Let’s look at some of the advantages and disadvantages of even the best credit cards in Dubai. 

While talking about the positives, to start with, it’s a convenient way to take a loan from an institute that refreshes every monthly cycle. It becomes immensely helpful for everyday purchases or monthly purchases for household work. In addition, credit cards offer great rewards, cashback, and perks that can make your everyday purchases much more cost-effective. There are also many cards on the market that are designed to help you build your credit score by reporting your regular payments to credit agencies. 

On the other hand, while talking about the negatives associated with credit cards, the first that comes up is that if you don’t carefully manage your credit card balance, you could end up being stuck with tons of high-interest debt that could take years to pay off. This can also adversely impact your credit score and make it harder to take out loans in the future. 

With these basics clear about the credit cards, let’s now look at the two best credit cards in Dubai, namely Platinum Credit Card and Gold Credit Card. Before we explore these two cards in detail, a trivia about their name is that their nomenclature shows their relative value. As in, platinum is considered a more valuable and rare metal than gold across the world, hence getting platinum is costlier and more difficult in some cases than gold. In the same way, Platinum Credit Card is seen as superior to Gold Credit Card (and in fact any other credit card for that matter).

Whether you are a businessman or individual living in UAE, getting a Credit Card from a reputed institution can unlock remarkable benefits on an everyday basis. With the best credit card providers in UAE, below are a few typical and most attractive ways in which this credit card can be used everyday - 

Membership of UFC Gym Bahrain - With platinum credit card you can get around 20 per cent off on membership rates of the popular fitness chain UFC Gym Bahrain. Fitness freaks or not this is a smart investment in yourself to be enabled by the credit card. 

Iraninan Sweets - Many of us have a sweet tooth and what better to cater to than with a regular supply of pastries and cakes and other famous sweets. As nutritional value is taken care of when preparing them, having them everyday is good for health. And thankfully, with a credit card you can have up to 20 per cent off on their sweets. 

Chicco product discount - If you are a new parent, most of your time and resources must have been dedicated to your kid. Chicco being one of the leading brands for toddlers having products ranging from car seats to toys and pacifiers - you could be shopping regularly with them. Do it with your credit card to save up to 10 per cent on the full price of items.

How to get a credit card for everyday usage

Impressed by everyday usage and savings that come with credit cards, both - platinum credit cards and gold credit cards - you might now want to see if you are eligible for them or not. It all depends on your bank of interest and their terms and conditions. Still talking about one of the best credit card providers in UAE, below are the requirements to get a credit card in Dubai:

Minimum age: In case of either credit cards - Platinum and Gold - you need to be at least 21 years of age

Residency: You must be a resident of UAE

Minimum annual income: For both Platinum and Gold credit cards, if self-employed, you should be making AED 275,000 annually. On the other hand, if you are employed under someone, when applying for Platinum credit card, you need an annual income of AED 255,000; while for Gold credit card, it has to be AED 180,000.

Annual membership fee: For Platinum credit card, it is AED 700, while for the Gold one, it is AED 395.

Annual interest Rate: For both the types of credit cards, the interest rates is 39% annually

Conclusion

If you are planning to apply for the best credit card in Dubai for everyday usage, make sure you understand the terms and conditions before signing up. Credit card companies can vary widely in their approval requirements, payment terms, and other policies.