In a situation where you have too many to choose from, the comparison is always the ideal way to make the best selection. With the advent of time, the product offerings of banks and financial institutions have also grown rapidly in the count. Credit Cards, in particular, come with numerous benefits and features catering to all segments of users. Hence, before applying for a credit card in UAE, it is advisable to compare credit cards in dubai to make the best choice for yourself.
Now, as you understand, comparing credit card offers before applying for a credit card will help you find the right card for your needs, and ensure that you’re not paying higher fees or interest rates than you have to. The question is, what to compare? We here provide the complete checklist of what to look out for when comparing credit cards in UAE.
Minimum Salary – The foremost criteria to apply for a credit card in UAE is salary eligibility. The minimum salary required to apply for a credit card in UAE is AED 5000. However, every card has its own set of criteria where minimum salary requirements may also vary. Ensure to check if your salary is eligible for the card you wish to apply for.
Annual Percentage Rate (APR) – This stands for the cost of borrowing on the card if the total due of credit card is not paid off each month. The APR for different credit cards in UAE can be compared to check the lowest rate offered. So, you can check and compare other parameters as well to be sure of your credit card selection.
Annual Fee – It is a fixed fee charged on the card annually by the bank. As various cards come with exclusive added benefits and features, they also come at a cost to the customer. It is crucial to compare the annual maintenance fees and also cash advance fees and late payment fees. In case you plan to transfer your balance, there is a separate balance transfer fee that you must observe.
Other Charges – Nothing comes for free. And when it is a debt, it never will. There might be certain other charges associated with each card, in addition to the ones mentioned above. These can come as over-limit charges, charges on international usage of the card, and so on. It is less likely to be incurred by you but makes sure to have a glance at these as well.
Loyalty Point/Rewards – Almost every credit card these days comes with the concept of loyalty points or often termed as reward points. These points add up depending upon the amount you spend which you can further use with your next purchase, get vouchers or also redeem it to pay towards your card dues.
Cashback – Nowadays, this is the most selling feature of credit cards. As the term states, it offers Cashback on our spending, depending upon how much has been spent. These cash backs are associated with terms and conditions. Hence, before applying for a cashback credit card in UAE, make sure to check that you are likely to qualify for it.
You can use uaecreditcardfinder.ae to compare credit card in Dubai and find out offerings provided by UAE’s top Banks and Financial Institutions. This can help you choose the right card for you.