How to Get Credit Card with Low Salary in UAE?
Are you looking to get a Credit Card in Dubai? If you are worried that you may not meet the requirements and may find the process confusing, you have come to the right place.
In this article, we will explain all the policies, processing time, documents required, and fees to apply for a credit card in the UAE.
A credit card is generally issued by a bank that lets customers make credit payments that must be paid later. Please note that we do not advise anyone reading this article to spend carelessly with their credit card, thinking of it as free money, as there are many cases of worker immigrants being jailed for not being able to pay back their debt in the UAE.
Let’s get your credit card.
Related: FAB Bank Balance Check Online (5 Easy Methods)
Minimum Requirements and Documents for Credit Card
Every financial institution in Dubai has different requirements for credit card eligibility. Almost every bank in Dubai requires a minimum salary of 5000 AED ($1362). However, some Banks may allow their customers to get a credit card with a salary of 4000 AED ($1089) if they can prove that their accommodation is provided by their company upon request.
Some General Eligibility Requirements are:
- 5000 AED Minimum Salary.
- Potential Cardholders must be at least 21 Years Old.
- Must be Employed or Self-Employed with a regular source of Income.
- A Minimum Credit Score of 540
As mentioned Earlier, the General Requirements may vary from bank to bank
What is a Credit Score?
A Credit Score is a three-digit number between 300 and 900 that banks /lenders use to predict how likely you are to pay your Dues. The higher the number, the better. Generally, a credit score of 700 and above is considered a good score. The AECB (Al Etihad Credit Bureau) calculates your credit Score globally based on your utilities payment, outstanding loans, payment history, etc.
Documents needed to Apply for a Credit Card in Dubai
To apply for a credit card in Dubai, you will need the following documents:
- Emirates ID / Passport ( Original + Copy)
- Copy of Labor Card
- Credit Card Application Form
- Salary Certificate
- Trade License ( For Business Owners)
- Bank Statement for the last 3 months
- Security Cheque ( * Depends upon the Bank )
Additional documents may be required from the bank you are applying for a credit card.
How to Apply for a Credit Card in Dubai with Low Salary?
4 steps to apply for a credit card in UAE, Dubai, with a low salary.
- Choose Bank: Please review the credit card eligibility requirements policy of the Bank you choose and the documents they require for card applicants.
- Apply: Fill out the application form from your Bank. Nowadays, Most Banks in Dubai allow you to apply for a credit card online. However, it is better to visit the Bank in person, as this can make the process much easier.
- Processing: Submit your Application form along with the processing/application fee and documents. Wait for your Credit Card application to be processed, after which your bank will notify you.
- Collection: Visit the Bank to collect your Credit Card.
How long does my Credit Card Application take to be Processed?
Most banks process credit card applications in 3 – 10 days. On average, your cards are approved within a week of submitting the application. If you don’t hear back from the bank after this period, you can give them a call.
What are additional things to Consider? Application Fee, Interest Fee?
Before applying for a credit card, you must consider additional fees such as the application fee, membership fee, and Interest Fee. Many Banks offer free applications, whereas some banks can charge anywhere from AED 80 to AED 250 for the Application fee.
Before choosing your Credit Card Provider, you must also look up their interest rate and Annual fees. Most card providers charge 2.5% to 3.5% every month.
List of Credit Card Providers for Low-income in UAE
| Bank Name | Minimum Salary | Monthly Interest | Membership Fee |
|---|---|---|---|
| Abu Dhabi Commercial Bank (ABCD Talbat) | AED 5000 | 3.50% | Free for Life |
| Commercial Bank of Dubai ( Visa Platinum ) | AED 5000 | 3.45% | Free for Life |
| Commercial Bank of Dubai ( Yes Rewards ) | AED 5000 | 3.45% | Free for First Year |
| Commercial Bank of Dubai (CBD 1) | AED 5000 | 3.50% | Free for first 36 months |
| CITI BANK | AED 5000 | 3.75% | Free For Life |
Conclusion: The minimum requirement for getting a credit card in Dubai is a monthly salary of AED 5000. Getting a Credit Card in Dubai is relatively easy if you gather all your documents and review the bank policy. Credit cards should not be used recklessly to make lavish purchases but only when absolutely needed.
