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Credit Card FAQs

Credit Card FAQs

How to Evaluate Credit Card Offers?

Having a credit card with a high credit limit means high spending power. You can buy more expensive things with your credit and pay it back as per your convenience. However, increased spending power should be managed responsibly in order to reduce the risk of debt.

Benefits of high credit limit:

  • Helps you make bigger purchases
  • Can help you improve your credit score when used wisely
  • Potential to earn more rewards and discounts

Is it Worth Getting a Cashback Credit Card?

Cash back credit cards can be very rewarding if you use them wisely. Here’s what makes Cashback Credit Cards a worthwhile purchase:-

  • Flexible redemption - Unlike travel cards or reward cards, the redemption possibilities with a cashback cards is endless. Cashback can be redeemed against anything you like as opposed to air miles and reward points.
  • Unlimited accrual - With Citibank Cashback credit cards, you can earn unlimited cashback on all your spends.
  • Bonus cashbacks on select spends - Cashback credit cards offer additional cash back on select spends. Hence, if you use it selectively, you can earn generous cashbacks.
  • Offers and privileges - Merchants offer plenty of cash back offers and deals from time to time. And if you are a Citi Cashback Credit Card member, you can enjoy privileges such as complimentary access of airport lounges and dining privileges.

Which Is Better, a Credit Card Loan or a Personal Loan?

Both personal loans and credit card loans are a convenient means to obtain quick fund for all types of financial needs. However, the suitability may differ according to your individual requirements.

A Credit Card Loan is the appropriate choice if:-

  • You want to borrow only a small amount. (Like a gadget purchase)
  • Your bank loan application is rejected.
  • You need funds urgently.

A Personal Loan is an appropriate choice if:-

  • You need to borrow a large sum. (Like funding your wedding)
  • You want to consolidate your existing loans.
  • You are willing to wait a few days for loan approval.

As you can see, the suitability of both the loans depends on your individual needs. Citibank offers both credit card loans and personal loans in UAE. All you need to do is, consider your financial needs carefully and make the appropriate choice.

What are the Benefits of Having a Higher Credit Limit?

Having a credit card with a high credit limit means high spending power. You can buy more expensive things with your credit and pay it back as per your convenience. However, increased spending power should be managed responsibly in order to reduce the risk of debt.

Benefits of high credit limit:

  • Helps you make bigger purchases
  • Can help you improve your credit score when used wisely
  • Potential to earn more rewards and discounts

The views expressed here are those of the authors and do not necessarily represent or reflect the views of Citibank UAE