RAKBANK Credit Card Eligibility

RAKBANK Credit Card Eligibility in the UAE

Refer to the common entry requirements for a RAKBANK card in the UAE —

Age 

You must be at least 21 years old.

Nationality 

You must be a UAE national or a resident.

Salary 

As a salaried employee, you must have a minimum monthly salary of AED 5,000.

Annual Turnover 

As a self-employed applicant, your quarterly turnover must be at least AED 25,000. Alternatively, you must maintain a quarterly account balance of AED 50,000.

Jump to the next section for detailed entry requirements for each RAKBANK card.

Top RAKBANK Credit Cards Eligibility Criteria

The definite eligibility for each card ensures that you qualify for the particular card and manage your finances efficiently without any strain. The table below enlists all the RAK BANK credit card eligibility criteria —

Factors Affecting RAKBANK Credit Card Eligibility

Certain aspects affect your RAKBANK eligibility. Let’s understand them in more detail — 

• Minimum Income Requirement — This is the card-specific monthly salary threshold. It starts at AED 5,000, although it can go as high as AED 35,000. Similar requirements apply to self-employed applicants.
• Age Criteria — Applicants below the age of 21 years are strictly not eligible for a card.
• Credit Score — A good AECB score, usually above 650, improves chances of approval.
• Existing Debt Obligations — High loans or existing debts can impact approval. In the UAE, your debt-to-income ratio does not cross 50%.
• Employer Listing — Some banks prefer applicants working in companies present on the approved list.

How to Improve Your Eligibility for RAKBANK Cards?

Now that we have understood what really impacts your RAKBANK credit card eligibility, the next step is to know how to enhance your approval chances. Here are some easy-to-follow tips — 

• Build a Positive Credit Score

Use existing cards responsibly, keep accounts active, and avoid applying for multiple cards in one go. Try to keep your score above 700 for easy approvals and favourable terms.

• Maintaining a Good Credit History 

Make all payments, whether for utility bills or loan instalments, on time. This increases your score and shows you as a responsible borrower. 

• Show Stable Income

Ensure steady employment and salary deposits that meet or exceed card requirements.

• Reduce Outstanding Debts

Improve your debt-to-income ratio by clearing your existing loans and other card balances. As mentioned earlier, this cannot go above 50% in the UAE. However, for a good score and better approval chances, try to keep it below 30

FAQ's About RAKBANK Credit Card Eligibility