Credit cards are a very convenient method for payment in today’s world. These days the ease that a credit card provides you with is incomparable to using cash. Ever since their introduction in the 20th century, credit cards have been rising in popularity.
University students, in particular, can benefit from having credit cards. With their jam-packed schedules, it can be difficult to carry cash all the time. Running from one class to the other also means students often misplace their things, and if you lose your wallet, you won’t get your money back, but you can always block your card.
But can University students in the UAE get credit cards? Most UAE banks put age and salary as a credit card requirement. To know if you can get a credit card in the UAE as a University student, keep on reading.
What Do You Need For A Credit Card?
The biggest obstacle University students face is that they don’t have a set salary that they can give documentation for. Thus, it becomes difficult for University students to qualify for a credit card. So, what can you do if you don’t have a salary?
If you can’t declare an income, you need to show your bank that you can repay them the credit card debt. You can also get a co-signer, one with a stable salary. As a student, you should also know what you can count as income. If you’re receiving any scholarship or grant money from your University, you can count that as income too.
How To Get A Credit Card In UAE For Students
If you go to a bank in the UAE and tell them you’re a student looking for a credit card, chances are they’ll usher you towards a current account with a debit card. This is because bankers assume students don’t meet the minimum requirements for a credit card and thus don’t even discuss that option with them.
So, if you’re looking for a credit card, go to the bank and tell them that you want a credit card. Don’t mention that you’re a student, but look for a card with the bare minimum salary requirement. FAB has credit cards that require a salary of only 5000 AED! They’re ideal for students. Once they run you through the process of getting the card and ask you how much you earn, you can discuss your student status with them.
What Credit Cards Should A Student Get?
Every credit card offers its users something different. Banks differ in the features their credit cards give. But, even within banks, there’s a wide range of cards to choose from. As a University student, it’s best to opt for a credit card without a salary transfer requirement and a minimum salary amount.
Credit cards also offer many other features that you should consider before opting for one. These include:
· Bonus cashback
· Redemption options
· Air travel options
· Savings and tax deduction
· Withdrawal tax
· Low-interest credit cards
For example, if you’re an international student residing within the UAE, you may fly back home frequently. In this case, opt for a credit card that rewards you with flyer miles. FAB credit cards in the UAE are one such example. They offer great benefits that are ideal for students. Likewise, you can look for other domestic credit card benefits, as well.
Credit cards are very beneficial to University students, and they can easily apply for a credit card in the UAE. Having a good personal credit card can make it easy to handle finances amongst busy student life. Just make sure you figure out how to meet the requirements before heading to the bank.