3 Tips When Applying for a Credit Card
Options when looking for a credit card in UAE can be overwhelming. There exists so many banking products, both local and international, all offering great deals and benefits like annual zero fee, cashback rewards, leisure and lifestyle discounts and many more. Here are top 3 tips on how you can select a good credit card for you suiting your needs and wants, without having you to spend more than you should.
Tip 1 — Understand what your highest expenses are. It could be school fees, flight tickets every year, groceries, etc. When you have a reasonable idea as to which sort of cost is the greatest, you can search for credit cards that have offers in those categories. Possibly a bank has tied up with the supermarket you shop at consistently, to offer points that can be redeemed for future purchases.
Tip 2 — Banks sometimes offer cashback deals on things you use the most. If you go to the gym regularly, some banks offer membership discount fee for that gym. There are some specific airport lounges that offer discounts and some extra perks on some banks too in case you are a business traveler. Banks regularly give exclusive cards dependent on customer’s requirements, which may help support your way of life without costing you extra. There are a few credit cards accessible in the market offering reward programs, lower interests costs, higher credit restricts, no yearly expense and substantially more, however the features that are best for you are for the most part dependent on your actual use.
Tip 3 — Most banks offer credit card spending limits that are more than twice a customer’s monthly earnings, this can lead to an urge of overspending. On the off chance that you are uncertain of your ways of managing money and could be late on installments, pick the card with the most minimal interest cost. Nonetheless, in the event that you are spending highly and are certain you will repay for every one of your costs before the due date, you can search for cards with better perks but higher interest fees (which will possibly apply in the event that you default on your installments).
