Connector August 2023

CONNECTOR.AE 53 Lifestyle Credit Cards That Offer Additional Benefits Credit cards are a commonly used mode of payment in the UAE. Issued by banks, credit cards allow the person to borrow funds to spend on expenses, goods and services, based on a pre-approved limit. They also offer the cardholder the ability to pay for them later, either in monthly instalments or in one go. Using a credit card also offers additional security. In situations where the individual falls victim to fraud or scam, a report can be filed, to ensure money is not lost. After investigations are conducted, the money can then be refunded back into the card, which cannot typically be done through payments made on a debit card. With credit cards, the person has to pay a minimum amount every month which includes interest or can pay the total amount in full, gaining the benefits of the credit card without paying interest, as per the agreement with the bank of choice. Paying off credit cards is an important aspect, as missing monthly payments or paying off less than the minimum required each month, can affect a person’s credit score, that appear on the credit reports created by Al Etihad Credit Bureau. 3>HS‡3gr‡} >>g # - . /0124 56 01 7gH gH 3>HS‡3r‡} >>g 69