Best Credit Cards in UAE

Looking for the right credit card can be confusing with so many options out there. That’s where PriceYar Credit Comparison comes in. We’ve made a user-friendly tool to help you choose the best credit card for your needs.

The best credit cards in UAE offer a range of benefits, from generous rewards and cashback programs to exclusive travel perks and low interest rates, providing cardholders with valuable financial advantages.

PriceYar Credit Comparison lets you compare different credit cards easily. You can see what each card offers, like interest rates, annual fees, cashback rewards, and more. It’s like a helpful tool to find the card that’s perfect for you.

 

Our website saves you time and energy. You can see all the important info in one place. We make it easy to compare different credit cards and pick the one that matches your lifestyle and money goals.

The best credit cards in the UAE 2024 offer a combination of competitive interest rates, generous rewards, low annual fees, and valuable perks to suit a variety of financial needs and spending habits.

 

We care about your financial well-being. That’s why we give you clear details about fees, penalties, and any special deals for each credit card. Our goal is to help you make a smart choice and avoid any surprises.

 

Whether you travel a lot, like cashback rewards, or want to build your credit history, PriceYar Credit Comparison can help you find the right credit card. Try it today and start your journey to better financial options.

Top 5 Credit Cards in UAE by category

  • Best No Annual Fee Cards
  • Best Cashback Cards
  • Best Emirates
  • Best Balance Transfer
  • Best Travel / Air Miles Cards
  • Best Points / Rewards Cards
  • Best Islamic Cards
  • Best Business Cards

Best Credit Cards for January 2024

  • Citi Cashback Credit Card
  • Standard Chartered Cashback Credit Card
  • HSBC Cash + Credit Card
  • Emirates Islamic Skywards Signature Credit Card
  • Citi Emirates Ultima Card
  • Standard Chartered Visa Infinite Card
  • Emirates NBD Lulu 247 Platinum Credit Card
  • Citi Emirates Ultimate
  • HSBC Max Rewards Credit Card
  • Emirates Islamic Etihad Guest Platinum
  • Emirates NBD Skywards Infinite Credit Card
  • Citi Prestige Credit Card
  • RAKBANK Emirates Skywards World Elite Mastercard Credit Card
  • HSBC Cashback Credit Card
  • Emirates NBD Skywards Signature Credit Card
  • Citi Premier Credit Card
  • Emirates Islamic Etihad Guest Saqer
  • The American Express Platinum Credit Card
  • Emirates Islamic Etihad Guest Premium
  • Emirates NBD Etihad Guest Visa Elevate
Best Credit Cards in UAE
Best Credit Cards in UAE

Credit Cards from Top Banks

  • Emirates NBD Credit Cards
  • Abu Dhabi Commercial Bank (ADCB) Credit Cards
  • Dubai Islamic Bank (DIB) Credit Cards
  • Abu Dhabi Islamic Bank (ADIB) Credit Cards
  • Al Masraf Credit Cards
  • American Express Credit Cards
  • Citi Credit Cards
  • Commercial Bank International (CBI) Credit Cards
  • Commercial Bank of Dubai (CBD) Credit Cards
  • Deem Credit Cards
  • Finance House Credit Cards
  • First Abu Dhabi Bank (FAB) Credit Cards
  • HSBC Credit Cards
  • Najm Credit Cards
  • Noor Bank Credit Cards
  • RAKBANK Credit Cards
  • Simplylife Credit Cards
  • Standard Chartered Bank (SCB) Credit Cards
  • Union National Bank (UNB) Credit Cards
  • United Arab Bank (UAB) Credit Cards
  • Dubai First Credit Cards
  • Emirates Islamic Credit Cards

All You Need To Know About Credit Cards in UAE

HOW DOES A CREDIT CARD WORK?

A credit card is a financial tool that allows you to make purchases on credit, which means you can spend money even if you don’t have the cash on hand at that moment. Here’s how a credit card works:

  1. Application: You apply for a credit card through a bank or credit card issuer. They evaluate your credit history, income, and other factors to determine your credit limit (the maximum amount you can spend on the card).
  2. Credit Limit: Once approved, you’re given a credit limit, which is the maximum amount you can charge to the card. This limit is like a borrowing cap.
  3. Making Purchases: You can use the credit card to make purchases at stores, online, or wherever it’s accepted, up to the credit limit. When you make a purchase, the card issuer essentially loans you the money for that purchase.
  4. Billing Cycle: Credit cards work on a billing cycle, usually monthly. During this period, you can make multiple purchases. At the end of the billing cycle, the card issuer sends you a statement listing all your charges and the minimum payment due.
  5. Minimum Payment: You are required to make at least the minimum payment by the due date listed on the statement. The minimum payment is usually a small percentage of the total balance, but it’s crucial to pay more than the minimum if you can to avoid interest charges.
  6. Interest Charges: If you don’t pay your full balance by the due date, the card issuer will charge you interest on the remaining balance. This is where they make money. The interest rate is known as the annual percentage rate (APR).
  7. Credit Score: Your credit card activity, including how promptly you make payments and how much of your credit limit you use, can affect your credit score. A good credit score can open up opportunities for other financial products and better interest rates.
  8. Fees and Rewards: Be aware of any fees associated with your card, like annual fees or late payment fees. Some credit cards offer rewards like cashback or airline miles for using the card, so you can benefit from those as well.
  9. Revolving Credit: Credit cards provide what’s known as “revolving credit.” As you pay off your balance, you free up your credit limit to use again. This is different from a loan with a fixed term, where you borrow a lump sum and pay it back over time.
  10. Responsible Use: It’s crucial to use your credit card responsibly. Make payments on time, avoid maxing out your credit limit, and try to pay your balance in full to avoid interest charges.

 

What should you do to get a credit application approved?

 

Getting your credit card application approved involves several steps and considerations. Here are some tips to increase your chances of approval:

Check Your Credit Score: Before applying for a credit card, check your credit score. Lenders use your credit score to evaluate your creditworthiness. A higher score generally improves your chances of approval. You can obtain a free credit report once a year from each of the three major credit bureaus (Equifax, Experian, and TransUnion) to review your credit history.

Choose the Right Card: Select a credit card that matches your credit profile. Some cards are designed for people with excellent credit, while others are more suitable for those with fair or limited credit histories. Applying for cards that are appropriate for your credit score can improve your approval odds.

Pay Down Debt: Reduce your existing debt, especially credit card balances. High credit utilization (the ratio of your credit card balances to your credit limits) can negatively impact your credit score and raise concerns for lenders.

Maintain a Stable Income: Lenders want to ensure you have a stable source of income to repay the borrowed funds. Having a job or a consistent source of income can boost your application’s chances.

Complete the Application Accurately: When filling out the credit card application, provide accurate information. Any discrepancies can lead to a denial.

Apply In-Person or Online: You can apply for a credit card in person at a bank or online through the credit card issuer’s website. Online applications are often more convenient and faster.

Be Mindful of Hard Inquiries: Each time you apply for a credit card, the credit card issuer may perform a “hard inquiry” on your credit report. Too many hard inquiries in a short period can negatively impact your credit score. Try to limit the number of applications you submit, especially if you have a limited credit history.

Consider a Co-Signer or Authorized User: If you have a limited credit history or poor credit, you may consider applying with a co-signer or becoming an authorized user on someone else’s credit card. This can provide additional assurance to the lender.

Review Prequalified Offers: Some credit card issuers offer prequalified or preapproved credit card offers. These offers are based on a soft credit inquiry and can indicate your likelihood of approval. Consider applying for a card with a prequalified offer.

Follow Up: If your application is denied, contact the credit card issuer to inquire about the reasons for the denial. They may provide insight or suggestions to improve your chances in the future.

Build or Repair Credit: If you have a low credit score or no credit history, consider building or repairing your credit before applying for a credit card. This might involve getting a secured credit card, making on-time payments, and managing your finances responsibly.

Credit Card Interest Rates in UAE

Credit card interest rates in the United Arab Emirates (UAE) can vary depending on the bank or financial institution offering the credit card and the specific type of credit card. Generally, credit card interest rates in the UAE are on the higher side compared to some other countries. Here are some key points to keep in mind:

Annual Percentage Rate (APR): Credit card interest rates in the UAE are typically expressed as an Annual Percentage Rate (APR). The APR is the total cost of borrowing, which includes the interest rate, annual fees, and any other charges.

Interest-Free Period: Many UAE credit cards offer an interest-free period of up to 55 days, which means you won’t be charged interest on your purchases if you pay the full outstanding balance by the due date.

Interest Rate Range: Interest rates on credit cards in the UAE can vary widely. They usually range from around 3% to 3.69% per month, which translates to an APR of 36% to 44.28% per year. Premium or high-end credit cards may have higher interest rates.

Balance Transfer Rates: Some credit cards offer balance transfer facilities at lower interest rates for a limited period, often as low as 0%. After the promotional period, the regular credit card interest rate applies to any remaining balance.

Cash Advance Rates: If you withdraw cash from your credit card (a cash advance), you’ll typically incur higher interest rates compared to regular purchases. These rates can go up to around 3.69% per month or more.

Late Payment Fees: In addition to interest charges, credit card issuers in the UAE may charge late payment fees if you don’t pay at least the minimum amount due by the due date. These fees can be substantial.

Currency Conversion Fees: If you use your UAE credit card for foreign transactions, you may also be subject to currency conversion fees, which are a percentage of the transaction amount.

Credit Card Rewards in UAE

Credit card rewards programs in the United Arab Emirates (UAE) are designed to provide cardholders with various incentives and benefits for using their credit cards. These rewards can come in the form of points, miles, cashback, or other perks. Here’s an overview of credit card rewards in the UAE:

Loyalty Points: Many UAE credit cards offer rewards in the form of loyalty points. Cardholders earn points for every dirham spent on the card. These points can be redeemed for a variety of rewards, including merchandise, vouchers, or even airline miles.

Airline Miles: Some credit cards in the UAE are co-branded with airlines or frequent flyer programs. These cards allow you to earn airline miles for your card spending, which can be used for free or discounted flights, seat upgrades, or other travel-related benefits.

Cashback: Cashback credit cards offer a percentage of your spending back as cash rewards. This money is typically credited to your card account, reducing your outstanding balance or providing you with a cash refund.

Retail Discounts: Some credit cards provide discounts and special offers at specific retail outlets, restaurants, or entertainment venues. These discounts can help you save money when shopping or dining out.

Travel Benefits: Premium or travel-focused credit cards may offer additional perks, such as access to airport lounges, travel insurance, hotel discounts, and concierge services.

Shopping Rewards: Credit cards often come with partnerships with retail stores, and they may offer extra rewards when you shop at these stores or make specific types of purchases.

Points Conversion: Many rewards programs allow you to convert your points into various benefits, including gift vouchers, electronic gadgets, or even charitable donations.

Tiered Rewards: Some credit cards offer tiered rewards where you earn more points or cashback for specific categories of spending, such as groceries, dining, or fuel.

Introductory Offers: Credit cards may have introductory offers that provide bonus rewards, such as extra points or cashback, for the first few months of card usage.

Additional Perks: Credit card rewards programs in the UAE may include additional perks like airport lounge access, extended warranties on purchases, and purchase protection.

Credit Card Fees in UAE

 

Credit card fees in the United Arab Emirates (UAE) can vary depending on the specific credit card and the financial institution issuing the card. It’s essential to review the terms and conditions of your credit card agreement to understand the fees associated with your particular card. Here are some common credit card fees you might encounter in the UAE:

Annual Fee: Many credit cards in the UAE charge an annual fee for card membership. This fee can vary depending on the type of card (e.g., standard, premium, or co-branded) and the benefits it offers. Premium or high-end credit cards typically have higher annual fees.

Late Payment Fee: If you don’t pay at least the minimum amount due by the due date on your credit card statement, you may incur a late payment fee. The amount of this fee can vary but is usually substantial.

Overlimit Fee: Some credit cards charge an overlimit fee if you exceed your credit limit. This fee is typically charged when you make a purchase that pushes your outstanding balance over the credit limit.

Cash Advance Fee: When you withdraw cash from your credit card (a cash advance), you’ll be charged a cash advance fee. This fee is usually a percentage of the cash advance amount.

Currency Conversion Fee: If you use your UAE credit card for foreign transactions, you may be subject to currency conversion fees, which are typically a percentage of the transaction amount.

Balance Transfer Fee: When you transfer a balance from one credit card to another, you might incur a balance transfer fee. Some credit cards offer promotional balance transfer rates with lower or no fees for a limited time.

Returned Payment Fee: If your payment is returned due to insufficient funds or other issues, you may be charged a returned payment fee.

Duplicate Statement Fee: Some banks may charge a fee for providing additional or duplicate account statements.

Card Replacement Fee: If you lose your credit card or it gets stolen and you need a replacement card, a card replacement fee may be charged.

PIN Change Fee: Some banks may charge a fee for changing your credit card’s Personal Identification Number (PIN).

Account Closure Fee: When you close your credit card account, there may be an account closure fee. This fee can vary but is typically lower than the annual fee.

Balance Inquiry Fee: Some ATMs in the UAE may charge a fee for checking your credit card balance or conducting balance inquiries.

Things to be aware of while using Credit Cards in UAE

Using credit cards in the United Arab Emirates (UAE) is convenient, but it’s essential to be aware of certain factors to manage your finances responsibly and avoid potential pitfalls. Here are some things to be aware of when using credit cards in the UAE:

Credit Card Interest Rates: Credit card interest rates in the UAE can be relatively high. Be cautious about carrying a balance on your card, as the interest charges can accumulate quickly. Try to pay your credit card balance in full each month to avoid interest charges.

Annual Fees: Many credit cards in the UAE charge annual fees. Ensure you understand the annual fee associated with your card and whether the benefits and rewards justify this cost.

Minimum Payments: Credit card statements will specify a minimum payment amount. While paying the minimum amount keeps your account in good standing, it’s best to pay more than the minimum to reduce your balance and avoid interest charges.

Late Payment Fees: Pay your credit card bill on time to avoid late payment fees, which can be significant. Set up reminders or automatic payments to ensure timely payments.

Cash Advances: Using your credit card for cash advances typically incurs higher interest rates and additional fees. It’s best to avoid cash advances unless it’s an absolute necessity.

Overlimit Fees: Some cards charge fees if you exceed your credit limit. Keep track of your spending to avoid going over your limit.

Foreign Transaction Fees: If you use your UAE credit card for purchases in foreign currencies, you may incur currency conversion fees. Consider using a credit card with no foreign transaction fees for international spending.

Credit Utilization: Maintaining a high credit card balance relative to your credit limit can negatively impact your credit score. Try to keep your credit utilization below 30% to maintain a healthy credit profile.

Credit Score Impact: Your credit card activity, including on-time payments and credit utilization, affects your credit score. A good credit score is important for future financial endeavors.

Introductory Offers: Be aware of any introductory offers on your credit card, such as promotional interest rates or bonus rewards. Understand when these offers expire and how the regular terms apply.

Security: Protect your credit card information and report any lost or stolen cards immediately to the bank. Monitor your statements for unauthorized charges.

Reward Redemption: If your credit card offers rewards like points or miles, familiarize yourself with the redemption process and any expiration dates for earned rewards.

Credit Card Frauds: Be cautious of phishing scams and fraudulent activities. Never share your credit card details, PIN, or security codes with anyone.

Review Statements: Regularly review your credit card statements for accuracy and report any discrepancies to your card issuer promptly.

Financial Planning: Use your credit card as a financial tool, not as a source of endless credit. Plan your expenses and budget to ensure you can pay off your card balance.

By being aware of these factors and using your credit card responsibly, you can enjoy the benefits of credit cards in the UAE while avoiding financial pitfalls.