Credit cards have become one of the most popular modes of payment in recent years due to their ease of use. Most of us carry at least one credit card with us. The purpose can range from keeping it to meet urgent financial needs, as safe money because it is plastic money, to using and maintaining a good credit score and increasing the length of credit history, among other things. As a result, selecting the best credit card for your needs becomes critical.
In this article, we’ll go over how to pick the best credit card for your needs.
Evaluate Your Spending Habits –
You want to make the most of your credit card. And that is only possible if the card’s benefits and features correspond to your spending habits. For example, if you enjoy travelling and spend a lot of money on gas, you should choose a card that offers fuel rewards. Similarly, if you frequently fly, you should choose a card that offers Air Miles reward benefits. So, the first step is to examine your spending habits and evaluate card features accordingly.
Check Your Credit Score –
Your credit score is important in determining whether you qualify for a card and, if so, what type of card you will receive. The Al Etihad Credit Bureau (AECB) is the UAE’s credit scoring agency. Banks do check your credit score when you apply, but it is best to check it once before applying because if you apply with an ineligible score, the application will lower your credit score.
Determine the Type of Card You Want –
You should now consider the main reason for obtaining the credit card. What is your primary reason for wanting the credit card?
Is it used to build credit? Get a credit card for credit building.
Is it for debt repayment? Get a credit card with a balance transfer option.
Is it for earning points or cashback? Obtain a rewards card.
Examine Interest and Fees –
Different companies offer different cards, each with its own set of benefits and features. It is possible that you will encounter DIFFERENT CHARGES APPLIED BY DIFFERENT BANKS FOR THE SAME FEATURES, in which case it is critical to COMPARE. Using the points mentioned above, you can sort, compare, and check the interest and other applicable charges for your chosen cards, allowing you to make the best decision.
Compare the Total Package –
When applying for a credit card in the UAE, the benefits that you seek are usually numerous. The simplest way to choose the best credit card for your needs is to compare them all. When you’ve sorted your cards based on your spending habits, credit score, and requirement,
