Includes installment payments for airline tickets, hotel reservations and spending abroad

Banks offering offers on the use of credit cards without fees or interest

• Banks have restored the advantage of refunding a percentage of the “cash” with a value ranging between 300 and 3000 dirhams when using the card.

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• Tamer Abu Bakr: “Banks are racing to attract customers and encourage them to use cards, especially during the holidays and holidays.”

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Banks operating in the country are racing to present offers to their customers on credit cards, including installments without fees or interest for payments for the purchase of airline tickets and travel miles, in addition to hotel and shopping reservations, as well as spending outside the country, with amounts starting from 1000 dirhams and above, with the possibility of payment on Installments up to 12 months.

According to those banks, the offers they launched on the occasion of the Union Day and the first semester vacation, expire on January 15th.

Terms and conditions

According to the messages sent by most banks to their customers, the offers to use credit cards are characterized by zero fees for non-applicable ones, as there are usually fees for requesting installments for purchases of all kinds, ranging between 70 and 100 dirhams for the full amount of the installment.

The terms and conditions accompanying this service indicated that the customer could cancel the installment plan at any time when he had the full amount used from the card and wanted to pay, without any fees or interest as well.

A number of banks also reintroduced the advantage of refunding a percentage of the “cash” with a value ranging from 300 to 3000 dirhams when using the card, according to its value, after the banks had stopped it during the spread of the Corona pandemic.

Attract

Commenting, the banker, Tamer Abu Bakr, said that banks are racing to attract customers and encourage them to use credit cards, especially during the festive seasons and vacation periods.

He added that the offers that banks are currently offering come specifically on the occasion of the Union Day in addition to the school holiday, especially after the economy has been fully opened, and all travel restrictions and requirements have been abolished.

Abu Bakr explained to «Emirates Today» that these offers on the use of credit cards include free miles for travel at specific amounts for spending, redeeming the “cash” balance, or installment purchases without fees or interest, in addition to the possibility of using the card outside the country in the currency of the country in which it is located. In it, the customer, with a slight difference in the value of currency conversion compared to exchange companies, indicating that this feature did not exist before.

Keep up to date

And Abu Bakr indicated that the absence of significant differences in the exchange rate of different currencies encourages many customers to suffice with the credit card when traveling and not to carry “cash” or buy large quantities of the currency of the country they are going to.

He pointed out that banks are trying to keep abreast of developments in payment operations, and are keen on customer comfort and provision of fast and guaranteed services, and at the same time they reduce fees due to strong competition.

The offers launched by the banks on the occasion of the "Union Day" and the school holiday expire on January 15th.

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