Do You Need a Credit Card in Your Life

Do You Need a Credit Card in Your Life?

Posted on March 31, 2018

When it comes to being financially stable, there are many different things you need to take into account. Putting some of your salaries into a savings account, not overspending and splurging out on things you don’t need, to avoid debt. These are some of the basics that ensure sound financial status. Also, it’s a good idea to think about the ‘what ifs’ in life too, and in that regard, should you apply for a credit card?

The Risk Factor

You might think that applying for a credit card without a real pressing need is committing financial suicide. However, by ensuring that you pay everything off at the end of the month (as much as possible), you can improve your financial forecast. 

By using a credit card sensibly, you are improving your credit score, making it easier to get credit in the future, and giving yourself a backup plan if you need it. When you do an online credit card application, you’ll also usually find out there and then whether you’ve been successful, so you don’t need to hang around wondering. 

If you’re still not sure, when might you need a credit card? Let’s explore. 

A Financial Safety Net 

If you don’t have savings (and you should be looking at setting up a savings account too), and you have a disaster in your home, e.g., the washing machine breaks, or something similar, then you will need to make a purchase quite quickly. If you don’t have a backup amount of cash, how are you going to do it? Making use of a credit card in Dubai would make this purchase easy, and you could then work to pay it back at the end of the month, when you get paid, or perhaps over two months. 

Another potential need for a credit card is to build up your credit score. When you apply for a credit card online, you’re successful, and you use the card sensibly, you are improving your credit score, which will make it much easier to get other credit in the future, such as a mortgage. 

Of course, finding the best credit card in the UAE takes research, and Mashreq NEO credit card offers are indeed worth looking at. You will get other perks as part of your credit card account, such as discounts and savings in online and across major stores.

When you apply for a credit card online, you’re doing more than just giving yourself a backup plan, as you can enjoy some great benefits too!

The Mashreq Neo Credit Card

• Pick either Cashback, travel benefits or Salaam Points

• Annual cashback of AED 250*

• Zero annual fees

• Discounts and deals on dining and travel

• Complimentary multi-trip travel insurance

*Terms & Conditions apply 

Disclaimer: This article has been prepared solely for information purposes. It does not constitute an investment advice, solicitation, offer or personal recommendation by Mashreq, or any of their related parties to buy or sell any securities, product, service or investment or to engage in or refrain from engaging in any transaction, particularly, in any jurisdiction where such an offer or solicitation would be illegal. Neither Mashreq nor any of their related parties warrant the accuracy of the information provided herein and views expressed in this article reflect the personal view which does not take into account of individual clients’ objectives, financial situations or needs. Investors are required to undertake their own assessment and seek appropriate financial, legal, tax and regulatory advice to determine whether such investment is appropriate for them in light of their experience, objectives, financial resources and other relevant circumstances. Neither Mashreq nor any of their related parties accept any liability whatsoever for any direct, indirect, consequential or other loss arising from this article and/or further communication in relation thereto. Mashreq do not accept any obligation to correct or update the information in this article.