The ubiquitous credit card has superseded debit cards and allows users to buy merchandise, air tickets, hotel rooms, and use several amenities. It also requires little to no interest, provided the money is paid back within the stipulated period.
There are several consumer protection acts such as the credit card accountability responsibility and disclosure act passed by the United States Congress and a Dodd-Frank Wall Street Reform and consumer protection act that are now providing protection to consumers from credit card companies ever since the credit card system was introduced in the early nineties. Consumers have felt safer to use credit cards, and the market in credit cards are now a multibillion-dollar business around the world. Only United States residents spent US $830 billion during 2020.
Eligibility for this coveted card
Credit cards have higher values, and the platinum credit card is the most valued credit card with the most facilities and has more facilities than gold credit cards.
A customer becomes eligible for a platinum credit card when he or she has a credit score of at least 720 and an income of US$ 50000.
Platinum credit cards in the UAE come with a large number of incentives that include cashback, rewards on purchases, access to special lounges in airports, free or heavily discounted movie tickets, discounted amusement park tickets, cashback and discounts on cab rides and reward points on almost every transaction.
Platinum credit cards in the UAE can help their users earn upto AED 400 every month on a minimum charge of AED 2500 from their platinum card in supermarkets across the country. Users of platinum credit cards in the UAE are assured of 25% extra reward points on every transaction. Travel benefits of platinum cardholders include 2 free airport transfers every year. The other benefits include buy 1 get 1 offers on purchases as well as credit card charges to lifestyle and entertainment options.
The other benefits of using platinum credit cards in the UAE include credit shield insurance to wave off outstanding balances during emergency situations or unforeseen events. The platinum debit card also offers emergency cash assistance of up to AED 2000. A zero balance transfer rate is allowed during the first year of using platinum credit cards in the UAE.
The scheme of reward points and cashbacks assures users of platinum credit cards in the UAE to get rewarded with every transaction. Many online e-commerce sites, online stores, restaurants and shopping malls in the UAE offer extra benefits to users of platinum credit, and they are rewarded extra in addition to the standard incentives that come with the card. Some of the companies that offer extra privileges and incentives to users of platinum credit cards in the UAE include Club Vistara, Fortune wings club, Turkish airlines miles and smiles, Jumeira One, British Airways executive club, Avianca Lifelines, Wyndham Resorts, BIG rewards and Aeroplan.
There are other benefits such as heavy discounts on golf. There is accident insurance and even roadside assistance. There is protection from fraudulent transactions. There are unusual and unexpected benefits such as extended warranty on electronic items, appliances and other products. This extended warranty is double the amount of warranty normally given by manufacturers.
Too good to resist
The vast array of cashbacks, discounts, reward points, extended warranties, free rides and free tickets