Credit Cards in UAE | Best Credit Cards in Dubai, UAE

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Credit Cards in UAE

Credit cards offer a range of benefits catering to different types of financial and lifestyle needs of an individual. Being a convenient payment method, it is bundled with attractive rewards and perks depending on the card selected by the customer.

Credit cards are primarily used for shopping, travel or to meet an unforeseen need or expense

Points to Remember When You Compare Credit Cards in UAE

Getting confused while selecting the right credit card? We know it is a tough decision to make unless one knows to use it wisely. Financial appetite and priorities vary for everyone.

To help you, SoulWallet has listed out the following key points to be considered prior to selecting a best credit card for you:

  • Rate of interest : An important feature is the rate of interest while applying for a credit card. Tip: Select the card that offers a low rate of interest so it would not disturb any of your future financial plans. Analyze your financial portfolio and spend pattern prior to selecting a credit card
  • Charges : Credit cards incur charges such as Annual fee, Late fees, Overlimit fees etc., One must carefully read through the information on charges before making the final selection of a credit card
  • Minimum income : There is a minimum income slab for each credit card, so before applying for one you can go through the minimum income requirement and pick the card as per your monthly income.
  • Key benefits and rewards : Each credit card has its unique rewards and benefits which adds up as an advantage while purchasing any goods or services. You can select and compare credit cards which would give you the maximum benefit and rewards as per your needs.

Various Types of Credit Cards in UAE

With the exhaustive list of cards in today’s time offered by banks and various financial institutions, the customers are getting more and more confused. There are multiple shopping cards, travel cards, co-branded cards, fuel cards, and many more. Selecting from the extensive list is a time-consuming process, isn’t it? Understanding the dilemma of the customer, SoulWallet offers a list of best credit cards in UAE that one can avail for. The credit cards offers in UAE have reward points, discount offers, cashback, free movie tickets and much more to interest the shopper.

Here is the exclusive list of cards to select from that will best suit you.

Click here to find our top credit card recommendations for you

  • Cashback credit cards : These types of cards provide the most simplistic benefit to its cardholder. When a transaction takes place with a cashback credit card, the user gets a cashback. The cashback is generally provided as a credit in the statement or as per the bank's policy
  • Points/Rewards credit card : These credit cards provide an extra benefit to the user in terms of rewards/points, cashback or discounts
  • Air miles/travel/Airport lounge access credit cards : These types of cards are best for a frequent traveller. Travel with benefits becomes an advantage for customers of such cards as it comes with attractive discounts on flight, complimentary airport lounge access, discounted hotel tariffs etc. One also gets cashback and Air miles credit cards as per their spends
  • No annual fee credit cards : Many banks offer no annual fee credit cards where the customer can access the credit card without paying any joining or annual maintenance fee (AMF). Such types of cards are better for early customers who do not wish to pay any such charges mostly the early owners of credit cards

Eligibility Criteria for Credit Card

The primary eligibility for a credit card is a salaried monthly income of minimum AED 5000 and additional KYC documents for verification purpose. Different banks have different eligibility criteria depending on the type of credit card one is opting for. Criteria for self employed customers vary bank to bank.

One must be a UAE resident and should carry a valid 1) Passport 2) Residence Visa 3) Emirates ID card.

How to Apply for a Credit Card?

You can apply for credit cards online by visiting soulwallet and selecting the credit card as per your requirement; once the card is finalized you can click on "Apply Now" and fill the form. Soulwallet strongly recommends customers to use the Best fit Credit cards comparison tools and detailed information prior to finalizing upon the credit card of their choice.

FAQs

At Soulwallet you can identify which credit card is most suitable for you by comparing all the available credit cards in the UAE. Once you have reached a decision on which card is best suited to you, you can apply for the card by simply clicking on the “Apply” button and filling in a few details.
As per the UAE Central Bank regulations, an individual must earn a minimum salary of AED 5,000 per month to be considered eligible for a credit card. In addition, the Debt Burden Ratio of the customer must not exceed 50% to be eligible for a credit card.
Late payment fees are levied by banks if the minimum payment due on a credit card is not received on or before the payment due date as stipulated on the credit card statement. It can vary from bank to bank but is usually about AED 250 per month.
The Soulwallet Savings Simulator is a financial tool developed to help customers understand which credit cards can offer them the best opportunity to maximize their savings. To use the Savings Simulator, you only need to input your actual or anticipated expenses each month and then review the saves you can earn on different credit cards available in the UAE.
Most banks in the UAE offer customers multiple options when it comes to making payments towards their credit card. The simplest way to make a credit card payment is if you have a savings or current account with the same bank. In such a scenario you can do a direct transfer from your bank account towards your credit card.