There are almost three million people who make use of different credit facilities in the United Arab Emirates, whether it is in the form of loans or credit cards, with all users having access to an average of over 2.5 credit lines. It is essential for everyone to be mindful of Al Etihad Credit Bureau (AECB) reports and the credit score they have. All financial dealings within the UAE are monitored by the credit bureau,…

Residents of the United Arab Emirates are being warned about sponsored Facebook posts stating that thousands of people have cancelled their subscriptions to Netflix due to them moving to a more sophisticated streaming service known as MovieFlix. The posts are actually part of a clever phishing scam intended to steal people’s credit card details, and claim that the new website is completely free for people who live in the UAE, providing they sign up prior…

People all over the world, including in the United Arab Emirates, now prefer to keep a credit card in their wallet over physical money, with the great majority of payments now being made with either a debit or credit card.  However, while using such cards is often undeniably much more convenient, there are a number of risks that should be taken into account by people who prefer to swipe when paying for their goods and services. …

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…