Credit cards are one of the most convenient methods of payment and have become an important part of everyday life for the great majority of people in the United Arab Emirates. The benefits offered by banks and various credit card offers in the region have helped to make them one of the most preferred payment methods.

The number of applications for credit cards in the UAE rises by more than 50% every year. There was a 65% increase in the figure in 2017 in comparison to 2016, according to a survey. However, not all applications for credit cards actually receive approval. A number of things have to be checked before banks will approve a credit card application, including the likes of Debt Burden Ratio, minimum salary, nationality, credit score, and so on. The most important factor that is taken into consideration regarding a credit card application is how much monthly salary or income an individual receives. 

In the UAE, the minimum salary needed to get a credit card can be different depending on the bank, but the general rule is that a credit card application will not be approved if an individual makes less than AED5,000. There are a number of banks in the UAE that will approve an application for a credit card at AED5,000. The best credit cards that someone on that minimum salary will be able to get in the UAE are the ADIB Cashback Visa Platinum Card, the FAB Standard Credit Card, the FAB Gems Mastercard Credit Card, and the Emirates NBD Titanium Credit Card. 

High benefits are offered by financial institutions on all of these cards. These benefits usually go beyond just basic features and also include cashback, travel privileges, dining discounts and movie discounts. Anyone who earns less than AED5,000 will not be able to get a credit card from a bank in the UAE. 

Credit cards can be an excellent tool when used in the correct manner, but they can become a massive liability for those who fail to use them properly. Over 60% of credit card holders in the UAE are unaware of the interest rates that are charged by their credit cards, and 20% don’t know the effect that missing credit card payments could have on them. Credit cards come up with a number of charges that do not apply to debit cards, and many users do not understand or even avoid trying to learn about all the charges that are associated with them. However, fees and charges, together with credit card rates, can add up to a substantial amount of money, and the unfortunate result of this is that many people who have credit cards end up getting into debt. People who earn less than AED5,000 would be even more seriously affected by such debts than those on higher salaries, which is why banks do not approve their credit card applications.  

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