To carry paper money is a little bit difficult and risky. A credit card replaces paper money with plastic money. Credit Card in UAE has too much benefit, first of all, it is easy to carry and the second one there is no risk to loss of money and many other benefits like online flight booking, online shopping, online billing, and some special discounts on shopping from different companies.so why are using cash money? The world is going to a digital era and in the banking field, Credit Card is made to facilitate you. A credit card makes your life easy while making a transaction. It builds your banking status good to get Loans from banks. Emirates loan is an easy way to get the best Credit Cards in Dubai from all the banks and financial institutes.
What are Credit Cards?
A credit card is issued by a company, usually a bank, to a consumer enabling the cardholder to pay for goods and services under an agreement between the consumer and the card-issuing company that the amount, plus other agreed charges, will be paid later within the due date. Banks or other credit card issuing companies enter into an agreement with goods and services providing companies to accept their credit cards. Cardholders are required to pay that amount within the due date; else they will be charged with interest at a much higher rate. Credit Cards offer an easy way to track expenses, which is necessary for both personal expenditures and work-related expenditures for taxation and reimbursement purposes. Credit cards are available with a variety of credit limits, repayment arrangements in almost all the countries e.g. UAE.
Types of Credit Cards Issues:
Business Credit Cards: Specialized credit cards issued in the name of a registered business and can only be used for business purposes.
Secured Credit Cards: A type of credit card secured by a deposit account owned by the cardholder.
Prepaid Cards: It is not a true credit card as no money is offered by the credit issuer. Cardholder spends money which has been priorly deposited by the cardholder.
Digital Cards: A digital virtual representation of any kind of identification card or payment card.
Paper Money vs Credit Cards:
In this era of digital evolution, credit cards have facilitated transactions to a great extent. Carrying paper money is difficult and risky. Credit cards have now taken the place of paper money and made transactions so much easier. Additionally, they are robust, hence, does not take much space, and there is no risk of losing money. Especially, in the UAE, credit cards are of great benefit as it allows people to make online transactions such as online flight booking, billing, shopping, etc. Also, it greatly increases your banking status to get loans from banks easily. Emirates Loans is perhaps the easiest way of getting credit cards in UAE from all the banks and financial institutes.