What are Credit Cards?

A credit card, typically issued by a company, often a bank, provides consumers with the ability to make payments for goods and services. This is done under an agreement between the cardholder and the issuing company, stipulating that the amount, along with agreed-upon charges, will be settled at a later date within the specified due date. Banks and other entities issuing cashback credit cards in the UAE establish agreements with providers of goods and services to accept their credit cards. Cardholders are obligated to settle the outstanding amount by the due date; failure to do so results in interest charges at a higher rate. Credit cards offer a convenient means to monitor expenses, a crucial aspect for both personal and work-related expenditures, aiding in tracking for taxation and reimbursement purposes. Available with diverse credit limits and repayment arrangements, credit cards are widely accessible in various countries, including the UAE.

Types of Credit Cards

Business Credit Cards: Specialized credit cards issued in the name of a registered business and can only be used for business purposes.

Secured Credit Cards: A type of credit card secured by a deposit account owned by the cardholder.

Prepaid Cards: It is not a true credit card as no money is offered by the credit issuer. Cardholder spends money which has been priorly deposited by the cardholder.

Digital Cards: A digital virtual representation of any kind of identification card or payment card.

Paper Money vs Credit Cards:

In this era of digital transformation, credit cards have revolutionized transactions, offering unparalleled convenience. The days of carrying cumbersome paper money are fading as credit cards take center stage, streamlining transactions and reducing risks. These cards are not only sturdy but also compact, eliminating concerns about losing physical currency. In the UAE, credit cards in Abu Dhabi, in particular, bring significant benefits by facilitating online transactions such as flight bookings, bill payments, and online shopping. Moreover, holding a credit card enhances your banking profile, making it easier to secure loans from financial institutions. Khaleej Loans stands out as a hassle-free avenue for obtaining credit cards in the UAE, collaborating with various banks and financial institutes to make the process seamless.

Get the instant credit card in UAE and feel relaxed

A credit card is easily attainable, especially in the UAE, where many banks offer instant card services to cater to various needs. Whether you desire a specific type of card, the bank ensures a prompt issuance without unnecessary delays. Acquiring an instant credit card in the UAE is a straightforward process – simply reach out to the bank for necessary information and initiate the application. The bank coordinates the arrangements for your card, and you can expect to receive it as soon as possible, even on an urgent basis if required.

These credit cards come with remarkable features, including the coveted cashback trait. Enjoy cashback rewards on your purchases within the UAE, whether you're buying large electronic items or smaller products. The best credit card in the UAE for cashback provides a versatile shopping experience. Cardholders relish the cashback facility along with a host of special deals, offers, and gifts that come as exclusive perks with their cards.