How Approve Credit Card If Your Salary is less than 5000 AED

In Dubai, migrants who earn less than AED 5000 suffer from the situations where they are not able to avail credit card. This is the minimum amount which is required to file an application for the credit card. But the story does not end here. There is a special offer for these people where they can get a card with a limit three times their salary.

Low salary? Can’t get a credit card? What to do Next?

It is very important to understand the meaning and usage of a credit card. It should not be considered an extra pile of money with which you can easily get off. It is noteworthy that you are bound to pay back this borrowed money to the bank with some extra charges or transaction fees. There can be applied penalty charges if you fail to return the money within bound time. One should act much responsible while using these worthy plastic leaves.

Becoming a qualified customer- Achieve the minimum income amount

The very first requirement being qualified for low wage card is AED 3000. This is the minimum amount which is required. However, there is binding here. One who gets a card will not be able to transact that AED 3000 within the first 45 days of application of card. The credit limit is offered by bank up to 95% on the total amount. However, credit limit increases linearly with the worth of saving certificates.

Saving Money- Backing money in Al-Awwal Certificates

Al-Awwal certificates offer its buyers saving and investing credit under the same roof. The certificate can be bought with minimum limit of AED 100. You need valid passport, residence visa and Emirates ID to invest money in certificate to be able to secure it in a safe place.

It is not a requirement to save all of your AED3000 at once in name of certificates. Rather you can do as per your convenience. If you are looking to apply for credit card in UAE, just browse the credit card comparison site GulfLenders to select the best match card for your needs.

You will only be eligible to apply for card once your certificates reach the worth of AED 3000.

Knocking every door- Contacting sales officer of bank

It is not necessary that if you have minimum card limit of AED 3000 then you will get the card over a phone call. You should not sit back by only submitting an application and leaving your future credit card on chance. One should call the attached number and should ask for credit card. The customer service operator on other side of line will help you to take the necessary steps to get a car. Once can also become aware of any missing documentation or a legal binding.

You are almost there- Sit back for two weeks and wait

Now you have to sit back and wait for delivery of credit card. In normal circumstances, it takes up to 7 days to process credit card. But delivery time can be varied from 7 to 14 days. In this period of waiting for the golden card, you can plan that how are you going to invest the money and how much money will be required to save monthly to pay that burrowed money back.

Congratulations- Use Credit card with responsibility

It’s like an unmatched feeling when you get your credit card in your hand. But there is time to be more cautious and thriftier. You should only spend funds that are gravely needed. As you are a low wage earner so you should be mindful of paying that money back without extreme effort. Keep your outstanding balance in full so that you may not be charged with any extra amount in terms of interest fee.