How Do Credit Cards Work In The UAE
A credit card can be thought of as a temporary loan. A credit card is not the same as a debit card.
Debit cards, as we all know, draw money from your checking account. For credit cards, though, this is not the case. Credit cards are a type of loan that you must repay each month. You incur a debt to the bank for each swipe, which you must repay within the billing period. Unlike your debit card, any charge on your credit card is reported to the credit bureau. It will assist you in establishing a credit report, whether good or poor (depending on your repayment). A credit report will assist you in securing a stronger and larger loan in the future. Now, let’s go through some words that will help you better understand how a credit card works in the UAE.