Types of Credit Cards in UAE
- There are five major types of credit cards available in UAE – standard credit cards, credit repair cards, specialty credit cards, airline mile credit cards and credit cards with reward programs
- Standard credit cards are the most commonly used type of cards in UAE, with relatively low interest rates and provision for balance transfer
- Those who want to fix a poor credit history can take a credit repair card, while a specialty credit card will be perfect for those who have a specific need for credit like business or education
- Many credit cards offer retail rewards, rebates or points for gas, cashback, hotel or travel points, and general reward points, so these will be very useful for people who use such services often and want to maximize on rewards and points
- A credit card is helpful for people who need to spend or make investments immediately but don’t have the required bank balance to do so
- When choosing a credit card, make sure to look out for interest rates, salary requirements, foreign currency rates, benefits offered, annual fees and other charges
- Some of the most renowned banks offering credit cards in UAE are ADCB, Citibank, Standard Chartered, ADIB, RAKBank, Emirates NBD and NBAD
- The top credit cards in UAE are Majid Al Futtaim (Najm) Blue Visa Card, ADIB Etihad Guest Visa Platinum Card, NBAD Gems Titanium Credit Card, Mashreq Platinum Elite Card and RAK Bank Titanium Credit Card
- 1.5%-3.25% is the average interest rate charged on credit cards in UAE, though the fixed rate depends on the bank and the type of credit card
