You may be hankering for that Platinum credit card in UAE or a credit card in any other category. However, hold your horses before you apply! The region has more than 220 credit card choices for consumers as per last count and it is worth doing your homework for maximizing your own benefit. It is important to remember that just as no two consumers are the same, neither should be their credit cards! You have to go for something that suits your own personalized goals and lifestyle requirements.
Here are 5 must-read tips before applying for your fancied Platinum credit card in UAE.
The fine print always matters- Scrutinize the fine print before you sign on the dotted line! With regard to several rewards like flyer miles, it is vital to check underlying terms and conditions. For instance, some cards have reward schemes offering points to be used for flying to any global destination without limitations. However, some cards may offer points that you can only redeem on particular airlines like Etihad and Emirates for instance. There are some points that may only be redeemed on select routes. Hence, while taking a look at all the rewards and benefits, take a closer look at the fine print.
Scrutinize annual charges- In most scenarios, the costs of maintaining credit cards are surpassed by the financial benefits and savings. The latter accrues from higher discounts/cashback on all transactions along with travel advantages like air miles and hotel discounts. Consumers are also eligible for welcome bonuses and membership benefits galore. In this case, it is worth paying an annual fee. However, investigate this carefully and go for the card with the lowest and most feasible one.
Explore travel insurance- After the coronavirus pandemic rattled our lives, it is natural that you prioritize your wellbeing even while traveling. Comprehensive travel insurance is vital for health-linked emergency scenarios and also for situations like loss of luggage, etc. Look for insurance offers on credit cards before finalizing one. Look for swift replacement options, especially at overseas locations for lost/stolen cards, emergency cash withdrawal facilities and more benefits.
Lounge Access- Check the airport lounge access and related offers provided by your Platinum credit card in UAE. A suitable card will give you complimentary access for a certain number of times annually along with other advantages like complimentary airport Wi-Fi, a nominal fee for other add-ons and free airport transfers as well. Hotel rewards and discounts may also be offered in some cases.
Check Out Penalties and Interest- Many cards come with special benefits like zero interest although they are for limited time periods. If you cannot pay off the entire balance within this date, then you will have to fork out interest at 15% and upwards. Check the interest rates applicable, penalties, extra charges and so on.
These are vital aspects to keep in mind before you finally apply for your chosen credit card in UAE.