Can I get a credit card with a low salary in the UAE?

Can I Get a Credit Card with a Low Salary in the UAE?

In the United Arab Emirates (UAE), obtaining a credit card typically requires meeting specific eligibility criteria, including a minimum monthly salary. While the standard minimum salary requirement is generally AED 5,000 or more, there may be options available for individuals with lower salaries.

Options for Individuals with Low Salaries

• Secured Credit Cards: Secured credit cards require you to provide collateral, such as a cash deposit or a savings account, against which the credit limit is set. This can be an option for individuals with low salaries or limited credit history.
• Prepaid Credit Cards: Prepaid credit cards are similar to debit cards and do not require a credit check. You need to load money onto the card before using it, and your spending limit is determined by the amount you have deposited.
• Credit Builder Loans: Credit builder loans can help you establish or improve your credit score. You take out a small loan and make regular payments on time. As you repay the loan, your credit history is built or strengthened, making you more likely to qualify for a traditional credit card in the future.

Other Factors to Consider

• Employer: Some employers may offer employee credit cards to their staff, regardless of their salary level.
• Existing Credit History: If you have a strong credit history in your home country, you may be eligible for a credit card in the UAE even if your salary is below the minimum requirement.
• Relationship with Bank: Having an existing account or relationship with a bank can improve your chances of getting a credit card, even with a lower salary.

Additional Information

• The interest rates and fees on credit cards in the UAE can vary, so it’s essential to compare different offers before applying.
• It’s crucial to use your credit card responsibly and make payments on time to avoid late fees and damage to your credit score.
• If you are struggling to meet the minimum salary requirement, consider exploring the options mentioned above or consulting with a financial advisor for personalized guidance.