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Points aplenty with new credit card launched by Majd Al Futtaim

| Banking, Dubai Credit Cards, UAE Finance News |

Global payment giant visa has partnered with Majid Al Futtaim Finance to launch the new Najm Visa Platinum credit card in the UAE which will give residents the ability to take advantage of the premier ‘Premium Awards’ loyalty programme.

The programme offers new customers 36,000 points on joining and allows cardholders to collect and redeem points in real time against a range of travel rewards and benefits such as stays at more than 200,000 hotels across the globe and airline tickets with unlimited airport lounge access.

Customers can also enjoy a range of lifestyle and entertainment experiences, such as fine dining, memorable days out and leisure activities including balloon rides, desert safaris, discounted entrance at around 300 of the world’s best golf courses.
“Visa offers one of the most comprehensive sets of payment products and continues to innovate by enhancing its products, systems and services, and by bringing the benefits of digital currency to more people in more places,” commented Marcello Baricordi, general manager for Visa in the UAE.

“We are delighted to have partnered with Majid Al Futtaim Finance to create the exclusive new Najm Visa Platinum Credit Card and give Visa cardholders in the UAE an opportunity to reap amazing rewards whenever they use their credit card here or overseas.

Rasool Hujair, CEO of Majid Al Futtaim Finance added: “The Najm Visa Platinum Credit Card enables cardholders to enjoy the real and tangible benefits of luxury when travelling but also lifestyle privileges that make a real difference to their day-to-day lives.”

 

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Credit card spending up 20% since 2011

| Banking, Dubai Credit Cards, UAE Finance News |

Retail in Dubai and Abu Dhabi is doing extremely well right now, tourism is on the up, there’s an air of confidence back in the UAE and that is reflected with increased spending, more specifically, spending on credit cards.

Farhad Irani, head of retail banking at Mashreq Bank has seen the average amount spent on credit cards rise by 20% since this time last year, this is only good news for banks in the region who are scrambling to make profit in a crowded and competitive market.

Local and international banks are fighting to win more business and that is great news for consumers who can pick and choose from any number of great offers with benefits ranging from Air Miles to Ipads. Personal loans and credit cards are very popular in Dubai where money buys everything and everything has an inflated price tag.

Despite the increase, banks are seeing more cautious and considered spending with UAE residents still scared from the 2009 economic downturn.

Compare the latest credit cards available.

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Standard Chartered Launches New Credit Card Promotion

| Dubai Credit Cards |

Standard Chartered Bank, announced its latest credit card promotion which allows new customers to receive an iPad2 16 GB, as a welcome gift. New credit card customers just have to confirm a minimum spend of certain amount on the card for a year, to receive the iPad2 (16 GB) upfront. The campaign is a limited period offer and is open for new Platinum and Titanium Credit Card applications only.

With the Standard Chartered Platinum or Titanium Credit Card, cardholders earn the Bank’s 360° Reward Points faster.

Cardholders can redeem their points, for flights on over 300 airlines to any destination. Customers can also redeem their points against Asia Miles and KrisFlyer Miles or redeem the points against cash back or reward vouchers for supermarkets, restaurants, jewellery shops or lifestyle and apparel shops.

Standard Chartered Platinum Credit Card holders also enjoy over 350 exciting offers across member establishments in the UAE and worldwide.

Commenting on the promotion, Syed Hammad Haider, General Manager, Retail Products and New Business, Standard Chartered UAE said:

“The UAE is one of Standard Chartered’s key markets globally and we are keen to continuously develop our business in this country. We firmly believe in providing our customers with financial services and products that match their increasing needs and expectations. We have succeeded in sustaining our growth in the UAE through our continued continuously delivering exceptional service and offering value added benefits to our customers.”

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Getting credit in Dubai

| Banking, Dubai Credit Cards |

In recent years, the United Arab Emirates city of Dubai has emerged as a truly global city. Attracting thousands of migrant workers and international holiday makers every year, Dubai really is a boom town. For many of the visitors, the impact and impression that Dubai leaves them with is powerful enough for them to want to make their home there or buy a second holiday home there. With more and more interest in buying in Dubai there is a very real need to obtain credit when making large purchases such as cars and houses.
Once upon a time, it was almost impossible for any foreign national to obtain credit in Dubai as the old banking and property laws made it difficult for most people to borrow money. However as Dubai has been more and more interested in establishing itself as a serious player in the global markets, these rules have been relaxed.
The process of obtaining credit in Dubai can be a new and often frightening experience for many foreign visitors and expatriates depending on which banking institute they use. While global banking institutes do operate within Dubai, there are also a number of Islamic banks that also offer credit but run slightly differently from non-Islamic banks.
The United Arab Emirates is a Muslim country and as such is governed by Sharia (Islamic law). While Islamic banking has the same principals as many commercial banks which is to make money from banking, as Islam prevents banks from charging interest a set of complicated Islamic banking laws have been set up to allow the banks to make money without breaking Sharia.
If you were to take out finance on a new car in the United Arab Emirates, the dealership would contact the bank to arrange finance and rather than the bank loaning you the money to buy the car creating a situation where you pay off the value plus interest over time, in Islamic banking the bank buys the car on your behalf and then sells you the car at an above market value. You then make monthly payments back on the car which don’t include interest.

In order to prevent buyers from defaulting on any credit loans from an Islamic bank, many require collateral beyond the goods that the loan has been taken out to purchase. If you were purchasing a holiday home in Dubai, the bank might require to also offer your own family home as collateral.

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Credit Cards Dubai

| Dubai Credit Cards |

Dubai Credit Cards

In Dubai, there are lots of bank with different types of credit cards. You can check online about these credit cards and choose the best one according to your needs. You can search card by category, type and select for you. You can apply for anyone of the credit cards online. Here are some credit cards offered by the banks of Dubai:

Abu Dhabi Islamic bank:
• VISA credit card. Co-Branded credit card. No annual fee, low opening rate, reward card, airlines card, cash back.

Al Hilal Bank:
• VISA credit card. No annual fee and low opening rate.
• Gold Credit Card. It is also VISA card with no annual fee and low intro rate.

Arab Bank:
• Internet shopping card. VISA card. No annual fee.
• VISA platinum credit card. No annual fee.
• VISA Electron Card. No annual fee.
• VISA classic card. Low opening rate. Annual fee of AED 150, student and airlines card.
• VUSA Gold. Low opening rate. Annual fee of AED 300, airlines and student card.

Barclays:
• Barclay Premier League Card. Master card. No annual fee.
• Classic preferred bundle. VISA card. No annual fee, low opening rate, reward card.
• Classic priority bundle. VISA card. Reward and airlines card. Low opening rate, annual fee of AED 300.
• Elegant Bundle Gold. VISA card. Low intro rates, no annual fee, reward, business, student and airlines card.
• Elite Bundle Gold. VISA card. Low opening rate, annual fee of AED 150, business, airlines and reward card.
• Elite Bundle Platinum. VISA card. Low opening rate, annual fee of AED 550, platinum, business, airlines, reward card.
• Esteem Bundle Platinum. VISA card. Low opening rate, annual fee of AED 950. Platinum, airlines, business, reward card.
• Gold preferred Bundle. VISA card. Low opening rate. no annual fee, reward card.
• Gold priority bundle. VISA card. Low opening rate, annual fee of AED 300, airlines and reward card.
• Platinum personal prestige bundle. VISA card. Annual fee of AED 500, low opening rate, airline and reward card.
• Platinum card. VISA card. No annual fee, low intro rates, airlines and reward card.

Citi Bank:
• Citi Life Titanium. Master card. No annual fee.
• Citi Life Platinum. Master card. No annual fee.
• Citi Life Infinite. VISA card. No annual fee.
• Citi Premier Miles. Master card. No annual fee.
• Citi premier Miles Elite. Master card. No annual fee.
• Citi Life Silver. Master card. No annual fee.
• Emirates Citibank Gold Card. Master card. No annual rate and fee. Airlines card.
• Citi Travel pass Card. VISA card. Low opening rate, annual fee of 400 Dhs. Airlines card.
• Citibank Gold card. VISA card. Low opening rate, annual fee of AED 300, reward card.
• Citibank Silver Card. Master card. Low opening rate. Annual fee of AED 150. Reward card.
• Citibank Ultimate Card. VISA card. Low intro rate, annual fee of AED 600. Airlines card.
• Emirate Citibank Ultimate Card. VISA card. Annual fee of AED 800. Platinum and reward card.

Dubai Bank:
• VISA Covered Card. VISA card. Low opening rate, no annual fee and rate, business, airline and reward card.

Dubai Islamic bank:
• Al-Islami Infinite Credit Card. VISA card, no annual fee, platinum, business and reward card.
• Classic Al-Islami Charge Card. VISA cad. Annual fee of AED 200, airlines card.
• Classic personal Credit Card. VISA cad. Monthly fee of AED 75. Airlines card.

There are also other credit cards such as Gold premium Personal Card, Platinum Al-Islami Charge Card, VIP Platinum Al-Islami Charge card. Most of the credit cards of this bank are VISA card with some annual fees.

So, as you can see there are various types and categories of credit card in Dubai. Lots of banks provide these credit cards with lots of facilities. Some charges annual fees and some do not. You must choose your own credit card comparing all these.

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