Can you imagine a world without credit cards? Surely, your wallet would have to be a size of bag so you can carry the cash you need to get around. Also, you must be very careful with the amount you have with you, most especially in today’s rampant cases of robbery. Apart from that, you may have to postpone huge purchases since you do not yet have the funds you need.
Without credit cards, experts at HSBC in the UAE say, your life might be less convenient. Thus, it is a great thing that this line of credit exists. Though such cards offer some advantages, there are also disadvantages attached to it.
Without credit cards, experts at HSBC in the UAE say, your life might be less convenient. Thus, it is a great thing that this line of credit exists. Though such cards offer some advantages, there are also disadvantages attached to it.
Making The Most Out Of Your Credit Cards
Be aware of your spending habits – There is a particular credit card for each spending habit. For instance you need a credit card for emergency purposes, look for a card that offers low fees and interest rates. But in case you are the type of individual who will be using the credit card for most expenses, look for one that offers unique rewards along with a significant credit limit.
Look at the APR when comparing rates – The APR is the annual percentage rate which indicates how much your credit card will be charging you. It can be fixed or variable. It usually comes with a monthly interest rate along with the corresponding annual fees. It is a wise idea for you to opt for a card that offers a low APR.
Check out the fees and penalties – Each card varies with fees and penalties. There are those that will charge you for cash advances and rewards programmes. Though all credit cards will charge you penalties for late payments, the rates will vary.
Decide how you plan to pay your credit card – There are some individuals who pay their balance in full monthly while some carry a balance from month to month. If you know how you are going to pay it, you will certainly be able to go with a brand providing the right interest rate – know that there are some credit cards that have fixed rates while others have variable rates or fluctuating interest.
Weight the benefits you can get from the best credit cards in UAE – With plenty of credit cards in the emirates, there will be some that offer irresistible incentives like travel benefits, concierge service, and 0% interest rates on installment plan purchases. Be sure that opt for a credit card that will offer benefits you are sure to redeem.
Be aware of your spending habits – There is a particular credit card for each spending habit. For instance you need a credit card for emergency purposes, look for a card that offers low fees and interest rates. But in case you are the type of individual who will be using the credit card for most expenses, look for one that offers unique rewards along with a significant credit limit.
Look at the APR when comparing rates – The APR is the annual percentage rate which indicates how much your credit card will be charging you. It can be fixed or variable. It usually comes with a monthly interest rate along with the corresponding annual fees. It is a wise idea for you to opt for a card that offers a low APR.
Check out the fees and penalties – Each card varies with fees and penalties. There are those that will charge you for cash advances and rewards programmes. Though all credit cards will charge you penalties for late payments, the rates will vary.
Decide how you plan to pay your credit card – There are some individuals who pay their balance in full monthly while some carry a balance from month to month. If you know how you are going to pay it, you will certainly be able to go with a brand providing the right interest rate – know that there are some credit cards that have fixed rates while others have variable rates or fluctuating interest.
Weight the benefits you can get from the best credit cards in UAE – With plenty of credit cards in the emirates, there will be some that offer irresistible incentives like travel benefits, concierge service, and 0% interest rates on installment plan purchases. Be sure that opt for a credit card that will offer benefits you are sure to redeem.