Credit cards essentially allow users to spend money but delay actual payment until a later date, making them different from debit cards, where you are actually spending the money that you have in your account the moment you use them. Banks in the United Arab Emirates give credit card users a credit limit, which can be used and then needs to be paid off, usually in monthly payments and sometimes with interest, depending on the…

Credit cards often seem like an easy way of getting access to money, but poor handling sees many people end up in unsustainable amounts of debt that they are simply unable to pay back. Legal and financial adviser Barney Almazar, who is based in the United Arab Emirates, says that he receives an average of 70 to 100 enquiries from people in ever-increasing amounts of debt every week, which amounts to over ten queries every…

Residents of the United Arab Emirateswho are planning an overseas holiday may be wondering if it is a good idea to take their credit card with them. However, some UAE credit cards may not even be accepted in a foreign country, making it crucial to make sure that you do some research beforehand to avoid your holiday being filled with hassle.  The good news is that there are a number of tips that can be followed…

A credit card is essentially a short-term loan that usually also offers extra benefits, with one particularly notable advantage being bill payment. The great majority of financial institutions in the United Arab Emirates offer a grace period of up to as many as 15 days in which people can pay their credit card bills, and cardholders have the option of paying a minimum of 5% of what they owe. This facility for minimum bill payment, as…

Credit cards appear to be a simple enough item to use, but this is only the case if the user really understands all of the things involved, and those without that level of awareness can find them starting to become a much more complicated burden. A number of people who find that they ultimately dislike having a credit card choose to shut down their account. For many reasons such as not understanding how to use it correctly,…

One of the UAE’s main Islamic banks, Emirates Islamic, has launched an exclusive online shopping portal, Cashbacksouk.ae, which will give all Emirates Islamic cardholders the chance to earn as much as 25% cashback on over 1,500 international and local brands. Available to all prepaid, debit and credit card customers with Emirates Islamic, the new portal offers users the chance to shop online for clothes, electronics, flights, hotels and more. Customers will be able to earn cashback…

Banks in the United Arab Emirates receive a multitude of loan or credit card applications every single day, but not all of those applications will receive approval. There are a number of reasons why a loan or credit card application may be rejected by a financial institution, and the credit score of an applicant is the first and most important factor that will be looked at when evaluating such an application. If the credit score…

A Filipina based in Dubai has wiped out a credit card debt worth as much as Dh1m by paying back just Dh11,000.  The woman, known only as Andrea, settled the debt just two months after she paid off another credit card debt of Dh1.7m by paying back Dh15,000. The 39-year-old told Gulf Newsthat although the first debt had been settled, she had not expected another bank in the United Arab Emirates to also be generous enough to…

It can be difficult for people in Dubai to resist getting a credit card, given that they are surrounded every day with holiday deals, buy-now-or-lose-out promotions, and shopping offers. It is very easy to apply for a credit card in Dubai and elsewhere in the United Arab Emirates, but one lawyer is warning citizens that the decision to get a credit card is not one that should be taken lightly.  Hani Hammouda, who works with the Kefah…

Those who often travel around the world are likely to be interested in UAE credit cards specifically aimed at globetrotters. These credit cards have been designed for the exclusive use of frequent travellers and come with a wide array of benefits, from free cab rides to great deals on accommodation and air miles.  The best credit cards for travel in the UAE include the Najm Voyager Signature Credit Card, the Standard Chartered Visa Infinite Credit Card,…