Like other countries in the world, United Arab Emirates is one of the leading country with high usage of credit card although the country is not completely cashless and cash is still the primary payment method and then the credit card. This is the reason many of the banks (local and international) offer range of credit cards in UAE for various purpose such as:
- Entertainment and others
However getting a credit card is not easy as lenders have a risk of default. This is the reason, every bank has different eligibility criteria before approving a card and most important being the income based on which repayment capacity of the applicant is judged. Typically banks do not consider salary which includes variable income e.g. bonus, commissions, rental income, overtime etc.
Here’s the table showing minimum income required by leading banks in UAE:
|Sr. No||Credit Card Name||Card Issuing Bank||Minimum Monthly Income|
|1||Citi Simplicity Credit Card||Citibank N.A.||AED 5,000|
|2||HSBC Visa Platinum Cashback Credit Card||HSBC Bank Middle East Limited||AED 5,000|
|3||HSBC Visa Platinum Select Credit Card||HSBC Bank Middle East Limited||AED 5,000|
|4||Platinum Credit Card||Standard Chartered Bank||AED 5,000|
|5||Manhattan Platinum||Standard Chartered Bank||AED 5,000|
|6||Saadiq Platinum||Standard Chartered Bank||AED 5,000|
|7||Cashback Visa Platinum Card||Abu Dhabi Islamic Bank||AED 5,000|
|8||Titanium Card for UAE Nationals||First Gulf Bank||AED 5,000|
|9||Classic credit card||National Bank of Fujairah||AED 5,000|
|10||Citi Cashback Credit Card||Citibank N.A.||AED 8,000|
|11||Citi Rewards Credit Card||Citibank N.A.||AED 8,000|
|12||Emirates-Citibank Gold||Citibank N.A.||AED 8,000|
|13||Citi PremierMiles Titanium||Citibank N.A.||AED 8,000|
|14||Citi Life Mastercard Platinum||Citibank N.A.||AED 8,000|
|15||Citi Life Visa Platinum||Citibank N.A.||AED 8,000|
|16||Citi PremierMiles Signature||Citibank N.A.||AED 10,000|
|17||Emirates-Citibank World Credit Card||Citibank N.A.||AED 12,000|
|18||Citi Premier Credit Card||Citibank N.A.||AED 15,000|
|19||Emirates-Citibank Ultimate Credit Card||Citibank N.A.||AED 18,000|
|20||Citi Life Infinite Visa||Citibank N.A.||AED 18,000|
|21||Platinum||Citibank N.A.||AED 30,000|
|22||Citi Prestige® Credit Card||Citibank N.A.||AED 30,000|
|23||Citi PremierMiles Elite||Citibank N.A.||AED 30,000|
|24||Visa Infinite Credit Card||Standard Chartered Bank||AED 30,000|
|25||Emirates-Citibank Ultima Credit Card||Citibank N.A.||AED 36,750|
There are many other banks offering credit cards to low income earners in UAE but their minimum income criteria could not be found. And the same shall be updated in the table above.
Most of these banks have offices in the capital city of Abu Dhabi and also in Dubai.
Note that, apart from minimum monthly income, credit card issuing banks also check the credit score of each applicant which is nothing but the score assigned to each and every borrower in UAE. So whenever any application is made, banks approach Al Etihad Credit Bureau to get credit report of the applicant. This report includes financial transaction history of the applicant which mainly consists of:
- All the past and present credit applied and granted
- Repayment history for all the credits taken
- Payment defaults
How to Apply for Credit Card in UAE
You can apply for credit by applying online or personally visiting the bank. You will have to fill application form requiring following details:
- Full name as per passport
- E-mail address
- Mobile number
- Date of birth
- Basic monthly salary
- Personal information
- Employment details: Company name, address, ID, employment duration, etc.
Documents required from applicants having low income
In addition to the details as mentioned above, applicant also needs to submit following documents along with the application form:
- Salary certificate from current employer: This is the only valid proof accepted by the banks. Salary should be credited to the applicant’s account monthly and must be mentioned in the salary slip or letter. This document should not be more than 30 days old.
- Original and photo copy of valid passport
- Original and photo copy of valid Emirates ID
- Bank account statement (last 3 months)
Features/Benefits of Credit Cards
Few of the key features/benefits offered by the issuers are:
- There is no mandatory minimum spend required to avail benefits especially cash back and reward points.
- Supplementary or add-on card based on satisfactory usage and repayment by the primary owner. This card can be taken for friends and family.
- Cashbacks are auto-credited. Users get cash back by spending card at fuel stations, shopping at hypermarkets/retail, online purchase, foreign transactions, etc.
- Most of the banks do not charge any annual fee.
- There is no need to have bank account or transfer salary.