Like two major divisions in banking systems in UAE, we have diverse kinds of credit card services which can be categorized into Islamic credit card and conventional credit card services. It’s pretty simple to understand the working because one is available with interest rate and the other is completely interest-free. One can use either use conventional or traditional banking to manage their important tasks or can get help from Islamic banking. For sure both kinds of systems have the provision to facilitate their customers with investment solutions and all other banking facilities. For expatriates, credit card services are really important because they always have to work with cash related matters.
For conventional working, credit card offers although available with best perks but with an interest rate being charged for each single baking task. The other way is completely different when we have a look at Islamic banking which is completely against the interest rate and follow the sharia-compliant law.
It doesn’t matter which type of banking you are using but we will recommend you to choose a bank that can provide you both options. Someday if you have a desire to switch your banking option, it would be easy then. To some extent, both options are working in a highly professional manner. You can enjoy the best perks like:
- Cashback credit card: this type of card can facilitate a customer with a maximum return of balance. Some of the products are available with a 50% direct cashback facility.
- Travelcard: this one is the most widely used card by international account holders. Most of the frequent travelers are indulged with such offers and for sure it is helpful for them.
- You can also avail of the Emirates Islamic credit card with zero interest rate on all packages.
The next point is which bank is most suitable to avail of a special kind of credit card. I have been living in the UAE for the last 30 years. As per my knowledge, from the list of all private and public sector banks working in this region, Mashreq Bank is the most suitable option for expatriates. Although a large number of account holders with the tag local residents using this bank for their financial matters, majority of people are based on expatriates. you can compare the rates and conditions of Mashreq bank with any other bank, the results will always be in favor of the first one.
mashreqbank 