5 Things Customers can do to receive a Credit Card in the UAE Quickly

Most people focus on comparing credit cards online and in the process, completely ignore how to apply for a credit card online. In this article, we shall how to quickly and successfully apply for a credit card online.

Step 1: Meeting the Eligibility Criteria

Before one applies for a credit card online it is important to ensure that all the eligibility criteria have been met. While it may not be specifically stated on the credit card issuer’s website, every card has its own set of parameters that must be met in order to qualify for the card.

Eligibility criteria for credit cards typically consider the following:

1. Age of the applicant.
2. The applicant’s minimum monthly income.
3. Valid proof of the applicant’s ID, address and UAE residency.

Applicants should compare credit cards online to find a card that matches their earning potential without burdening their finances too heavily.

Step 2: Required Documents

Applying for a credit card online is further contingent on submitting all the appropriate documentation. The list of required documents can be found on the credit card issuer’s website itself. Generally, applicants are required to submit the following documents to successfully apply for a credit card online:

1. An Emirates ID as proof of ID.
2. One cannot apply for a credit card online in the UAE without being a UAE resident. As such expatriates will be required to submit a copy of their passport and resident Visa.
3. Bank account statements and salary slips as proof of income.
4. A valid UAE address proof.
5. In exchange for the offered credit limit, applicants will be asked to submit a security deposit in the form of a cheque. This deposit amount will be retained by the credit card issuer until the card is terminated. Customers should compare credit cards online in order to find an issuer with the least required deposit amount.

Step 3: Credit Score

Customers may notice a disclaimer stating that their personal information will be shared with credit bureaus in the UAE when applying for a credit card online. This is completely normal, as credit card issuers refer to the applicant’s credit report in order to assess how big a risk they are. Applicants with low scores may be rejected on the grounds of being unable to maintain on-time payments, or due to being over-leveraged in terms of their currently active loans and credit cards.

Step 4: Company Approvals

Credit card issuers required certain documents to be approved by the applicant’s company or by a bank. Customers can save a lot of time when applying for a credit card online by having these documents approved and ready. Documents that require approval may be from any of the ones listed below:

1. Bank statement: This document may need a seal of approval from the applicant’s bank.
2. Salary Slip: Applicants will be required to submit a salary slip on their company’s official letterhead or one that has been approved by their respective organizations.
3. Company ID: Certain card issuers also required applicants to submit a copy of their company-issued ID in order to apply for a credit card online.

Furthermore, self-employed customers will also be asked to present a valid UAE trade license. A UAE trade license is proof of a legitimate government approved business and is most commonly issued by the Chamber of Commerce.

Step 5: Talk to a Customer Representative

The proliferation of internet banking and secured online transactions has made customer support an ever-available feature. As such, there is no better source of information on the eligibility criteria and required documentation for applying for a credit card online than that offered by the issuer’s own customer care representatives.

Finally, Don’t Forget…

No matter how attractive a credit card may seem, it always pays off to compare credit cards online to ensure you are getting the best there is. Do not blindly apply for a credit card online without first comparing the offered benefits, associated charges and interest rates with other cards in the same price range.