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Credit Cards in UAE

Updated 14 August 2024

Brenda27 May 2021

Credit cards have become extremely popular in recent times and your wallet seems rather incomplete if you are not carrying one. The concept of credit cards is extremely simple; they are just like debit cards but every user has a credit limit that is offered by their bank provider. The funds spent on goods or services act as a loan and that loan has to be repaid within a two-month period (it entirely depends on the policy of your bank provider, sometimes it is 40 days for some banks). A minimum amount has to be paid by the due date otherwise you might be penalized for the delayed payments.

Similar to the world, credit cards in UAE have also seen a huge increase in credit card users in the last decade. All the major banks in the region are offering the service to their customers and this guide will be a walkthrough for you if you are looking for selecting which one is best for you or if you are just browsing for some information.

Credit Cards in UAE

It is always a good idea to do some research before making any major decision and the same principles apply when you are looking to get yourself a credit card. There are a number of reasons why this research is mandatory because there are a lot of small details which can prove pivotal in the long run such as the annual renewal fees and so on.

There are eligibility criteria on which the banks judge your application because they don’t hand a credit card to everyone for free. Here the things you need to know about prior to submitting your application:

Interest Rates

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By definition, interest rate means the proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding. In order to attract more and more customers, banks are increasingly lowering their interest rates but enough so they also remain profitable. You should conduct research on the interest rates first and foremost and compare different banks and what they have to offer.

Other Fees and Charges

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Different banks have different ways to charge their customers. However, some fees remain compulsory which the cardholder has to bare. In order to get a better grip of the exact costs, you must read the fine prints thoroughly so that you are in a better position to make informed decisions. It is better to be safe than sorry.

Minimum Income

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In most countries, the eligibility criteria are heavily dependent on your income. Based on your income, the banks offer different options to the customers which have different credit limits. The higher your income is, the more credit limit you will have to spend. In order to be eligible for a credit card in the UAE, you have to be earning more than Dh5,000.

Rewards and Benefits

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Since the competition also exists in the banking sector, the banks try to entice potential customers with extra benefits and various rewards. The rewards can be based on the amount of money they spend and the reward points can then be redeemable on the bank’s website; you can get things such as cameras, phones, LCDs, and much more. Do in-depth research and see which kind of rewards and benefits are better suited for your spending habits.

Types of Credit Cards in UAE

The banking systems have evolved tremendously over time and there is a lot of variety within that sector to cater to almost every individual. Granted if you have a steady source of income, you can be eligible for applying for a credit card. Based on your minimum salary and the services you want to attain, you can choose any card which fits your needs perfectly.

Since there are a number of options when it comes to credit cards in the UAE, this guide is meant to serve as a helping hand in your deciding phase. Credit cards can be divided into various types which are as follows:

Credit Card Types	Top Credit Cards in Individual Categories
Air Miles Credit Cards	Deem Mastercard World Miles Up Emirates Islamic Bank Skywards Signature RAKBANK Emirates Skywards World Elite FAB Etihad Guest Infinite Islamic Emirates NBD Skywards Signature
Airport Lounge Access Credit Cards	Mashreq Bank Solitaire Deem Mastercard Titanium Cash Up Emirates Islamic Bank Flex Elite FAB Cashback Card Citibank Emirates Citibank Ultima
Balance Transfer Credit Cards	CBD Super Saver Emirates NBD Lulu Mastercard Titanium FAB Elite Infinite HSBC Zero Credit Card United Arab Bank Visa Titanium
Cash Back Credit Cards	Mashreq Bank Cashback Card Emirates Islamic Bank Cashback Card FAB Cashback Card Citibank Citi Cashback Card ADCB SimplyLife Cashback Card ADIB Cashback Visa Platinum
Travel Credit Cards	ADCB Traveller Credit Card Deem Mastercard Titanium Cash Up Standard Chartered Platinum CBD Smiles Visa Platinum RAKBANK Mastercard World
Cinema Offers Credit Cards	Emirates Islamic Bank Etihad Guest Platinum FAB Cashback Card Citibank Citi Prestige Card CBD Super Saver Standard Chartered Bank Manhattan Platinum
Golf Credit Cards	Mashreq Bank Solitaire Card Emirates Islamic Bank Skywards Signature Citibank Emirates Citibank Ultimate Standard Chartered Bank Manhattan Platinum Emirates NBD Skywards Signature
Free For Life Credit Cards	ADCB SimplyLife Cashback Card ADIB Value Card Mashreq Bank Cashback Card Emirates Islamic Emirati Card Deem Mastercard Platinum Miles Up
Rewards & Offers Credit Cards	Mashreq Bank Solitaire Card Emirates Islamic Bank Skywards Signature RAKBANK Emirates Skywards World Elite FAB Cashback Card Deem Mastercard Titanium Cash Up
Shariah Compliant Credit Cards	N/A

All these credit cards, as the name suggests, offer discounts in different categories. If you travel a lot then you should look into credit cards that offer the most rewards or reward points for traveling. If you are interested in golf, there is a list of credit cards that are geared towards golfers and offering them discounts on golfing equipment, golf courses, and more.

Each type of credit card has its own eligibility criteria. However, one which is constant is that you must have a stable source of income i.e. monthly salary. Now let’s look into some of the most popular credit cards in the UAE.

Features of Credit Cards in UAE

If you are planning on getting a credit card then there are a number of things you need to know at the tips of your fingers because these are the most common terminologies or things you will have to consider.

Credit Card Limit

The credit card limit determines the amount of money the cardholder can spend, which then has to be paid back to the bank in a certain period of time. The limits can change and vary depending on the type of credit card you apply for. Additionally, different banks have different credit limits as well.

Grace Period

The grace period is essentially the amount of time the bank allocates to you for the repayment of the money that was spent. Typically, the banks give you 30-60 days of a grace period but it varies from bank to bank and their individual card to card as well. Not paying the bill back in the allocated grace period will result in fines being imposed, which are often called interest rates as well.

Annual Percentage Rate

This determines the interest rate at which the cardholder has to pay following the completion of the grace period. It is worth pointing out that oftentimes, you will be considered a defaulter if you do not pay the amount back during the grace period. Each bank might have a different annual percentage rate, which is why it is best to check out their policies prior to applying for a credit card. The rate can also change within the year but the cardholder must be notified by the bank prior to its application.

Annual Fees

Each bank charges a certain amount for you to use their services and this is a one-time fee that is applied once a year. Similar to the annual percentage rate, this too can be increased after the completion of the year. Certain banks have offers that eliminate the annual fees if you spend a certain amount of money in a certain time period; this is especially helpful for those who plan on spending an abundance of money through their credit card.

Offered Benefits

Since the credit card competition is extremely tough and all the banks want you, the consumer, to use theirs, they offer various benefits and gifts that are redeemable through the loyalty program. For every amount you spend, you will receive reward points and each bank offers various benefits such as new phones, cameras, clothes, tech goods, and so much more.

Benefits of Credit Cards in UAE

When it comes to benefits, the credit card benefits can be summed up in the following terminologies which are important to understand and are as following:

Cash Back

Every time the cardholder makes a transaction, they will earn reward points. These reward points, as mentioned before as well, are redeemable. One of the ways they can be redeemed is through cash as well. This entire process is called the cashback process. Although it depends on the bank of your choosing because not every bank allows cash to be redeemed through the loyalty program.

Air Miles

For those who are either flying on a regular basis or like to take occasional holidays then air miles are the best gift for you. Some of the best credit cards in the UAE reward the cardholder with air miles per unit of currency spent (which is usually higher on foreign currency). These miles can be redeemed for booking flight tickets, flight tickets upgrade from economy to business or business to first-class, and even for shopping at selected venues.

Airport Lounge Access

The airport lounge access is perhaps the most common yet one of the most premium advantages of owning a credit card. Depending on which credit card the cardholder has opted for, they may also be entitled to bring a guest along with them. The card member can compare credit cards to find the most suitable one, which offers lounge access to the nearby airport, as it will probably be utilized the most.

Other Offers

Other benefits included through the credit card rewards includes cinema offers, gold benefits, travel gains, security advantages, and purchase protection against scams that might occur using online purchasing, and so forth.

Best Credit Cards in UAE

Emirates NBD Mastercard Titanium Credit Card

Minimum Salary: AED 10,000 | Annual Fees: Free for Life

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This card is free for life, offers free access to airport lounges, it includes valet parking, Etihad miles, and smart miles as well.

CBD One Starter Visa Signature Credit Card

Minimum Salary: AED 8,000 | Annual Fees: Free for Life

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Through this card, you can also have free access to airport lounges. It also offers various special discounts that are changing with every day.

Emirates NBD Diners Club Duo Credit Card

Minimum Salary: AED 8,000 | Annual Fees: AED 400

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This is the perfect credit card for all the foodies out there as it offers various discounts on different dining places. Free access to airport lounges is also included in this.

CBD One Visa Signature Credit Card

Minimum Salary: AED 8,000 | Annual Fees: AED 39

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It has a relatively lower annual fee and the bank remains keen on offering different discounts to the owners; be it for food, groceries, or electronic shopping.

FAB Cashback Card

Minimum Salary: AED 5,000 | Annual Fees: AED 315

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This card is dedicated to cashback and along with that, you can avail of various discounts in travel, hotels, and movies amongst other things.

Deem Mastercard Platinum Cash Up Credit Card

Minimum Salary: AED 10,000 | Annual Fees: Free for Life

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Be it valet parking or travel discounts, Deem Credit Card will have you covered. It offers all the discounts others have to offer and more.

RAKBANK Credit Card

Minimum Salary: AED 5,000 | Annual Fees: Free for Life

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This is also a credit card that is free for life and offers travel discounts along with free access to the airport lounges.

Emirates NBD Lulu Mastercard Platinum Credit Card

Minimum Salary: AED 15,000 | Annual Fees: AED 250

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Although this card might have an AED 250 annual fee it is free for the first year. This is catered towards people who have a high earning stream. They will be eligible for massive discounts on many things.

Mashreq Platinum Elite Mastercard Credit Card

Minimum Salary: AED 10,000 | Annual Fees: AED 650

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Similar to the one mentioned above, this card also remains free for the first year and then will charge AED 650 per annum. You can avail health club memberships, free pick and drop from airports, and much more.

Deem Mastercard Titanium Cash Up Credit Card

Minimum Salary: AED 6,000 | Annual Fees: AED 200

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Geared towards professionals who enjoy smooth transactions and are fans of earning loads of discounts and attain lots of reward points, this card is the best suited for their needs.

CBD Super Saver Credit Card

Minimum Salary: AED 8,000 | Annual Fees: AED 420

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This also offers a free first year before you have to pay the annual fees.

Abu Dhabi Islamic Bank Spice Credit Card

Minimum Salary: AED 12,000 | Annual Fees: AED 199

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Enjoy dining discounts, free access to airport lounges, and much more with this credit card. It has a nominal annual renewal fee and offers great rewards.

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Brenda

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Published 27 May 2021 · Updated 14 August 2024