Many financial advisers are against using a credit card. It gives the consumer the ability to spend on things more easily. It is easy to buy things that you don’t even need on EMI. Getting the Most from Your Credit Card Rewards in Dubai is really something special.
There are many different kinds of credit cards that you can get if you are living in Dubai. We will talk about ways you can make the best use of credit cards by being a smart consumer.
You would find many credit card companies that charge no annual fee for their services. In a way, you are getting access to interest-free loans. One of these companies is NBAD GEMS Titanium Credit Card that you can look into.
There is one thing that we need to warn you about. Although there are no annual fees, you can get charged late fees of even 250 AED if you:
- Fail to pay back the company in time.
- Pay them lesser than what you owe them in a limited time.
To make sure that doesn’t happen, we do advise you to set up an expenditure limit on your card so don’t go overboard.
Using Cashback Benefits
Cash is a very important benefit that most credit cards offer. People get cash back when they purchase something online. It can be for clothing or even buying essential groceries.
As a matter of fact, Firstly, It is a very good idea to use credit cards. Secondly, make the payment and get more cashback. Citi Bank offers cashback credit cards that you can use on any item.
However, you must buy only essential things that you need with your credit card. Companies market their products very well and trick you into buying.
Take Interest Free-Loans
One of the major benefits of having a credit card is that you can take loans. It can be for a fixed period without having to pay any kind of interest. It is very helpful if you have unexpected expenses at the end of the month.
You can simply take the loan and return it in time without paying any interest. However, these loans are very short-term . One would need to pay them back within a month in most cases. Failure to do so, would result in hefty fines and also can decline your credit score.
It is important to make sure that you are aware of the risks. It is a wise idea to take the loans when you know that you have money coming in before the interest-free period ends.
Many credit card companies offer discounts for a movie ticket with your credit card. You can also get discounts when you are booking a hotel, or you book a ticket to fly with your credit card. It allows saving money which you should save.
It can uplift your lifestyle when you are using a credit card.But, make sure you are not overspending your budget just become you are getting discounts and you should be fine.
What is Loyalty Program
Most credit cards provide you with the option to participate in their loyalty program. If you collected certain points you would get special discounts.
A good idea is to not join the loyalty program of too many credit card companies. The general rule is if you spend more, you collect more points to get better rewards. But, If you spend from the same card you get more points. This formula will make sure in getting the most from Your Credit Card Rewards in Dubai.
It is important to keep in mind again that you should buy what you need to buy. Don’t buy things that you don’t need to collect more points.
Building Credit Score
There are numerous benefits to having a good credit card score. When you have a credit card and you pay your debts on time, your credit score increases.
One of the perks of having a good credit score is that you can take loans for a higher duration on low interest. Make sure that you pay what you are owed on time.
Special offers are the best way in getting the most from your credit card rewards. You can save 20 percent sometimes as a discount using a ride-hailing service, buy one get one free when you buy something from online stores, and many other ways.
Some tips to keep in mind before getting a credit card
There are some things that you should keep in mind while getting a credit card.
- Research all the different types of loyalty programs and discounts they are offering.
- Make sure that your credit card company is associated with brands that you buy from.
- Make sure that you read the terms and conditions properly before deciding to purchase a credit card.
- Make sure that you also read the texts that are laid out in fine prints. Often companies try to cleverly disclose objectionable policies using fine prints.
There is no doubt that credit cards can be very beneficial for you if you are a smart spender. You should be able to avoid temptations and purchase things that you need. It will help you in getting the most from your credit card rewards in Dubai. Credit cards can make your life much easier and save you money if you know how to properly use them.