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Credit Card VS Home Finance: Is there any Relationship Between These Two Terms?


These two are different banking terms and nothing much to do with each other. If I say there is a strong connection and both can help an account holder what you will say? I will prove it through different examples. Before that, you will have to understand the credit card types and their availability. We have known to different cards like an entertainment credit card, golf credit card, travel credit card and cashback credit card but what is their source, do you have any idea? Two options in UAE are available as:
• Credit card through Islamic banks 
• Credit card through conventional banks

 When we discussed the two banking units, they vary considering interest rate point as we can see Islamic banking works without taking interest rate and provide Islamic bank credit card on actual balance payments. While on the other hand, conventional baking provides some excellent perks and benefits but with an interest rate. 

best home finance in Dubai

Some of the unique offers like we can say that priority services are not offered all the time and only available within a grace period of 21 and 25 days. What are your understanding of the grace time period and its working? We can suppose that a cardholder having a certain card with a grace period of Jan. 01 to Feb. 01, with a due date of March 1. This is an example and the time period can be varied according to the card type and account holder status.  Any purchases within this period can be made interest-free until the payment due date. But the important point is what would be the penalty if a cardholder couldn’t pay the bills on time. There are two major consequences as:

• A cardholder who wouldn’t be able to pay the credit bills on time charged with an interest rate besides the actual credit card payments. 
• A cardholder wouldn’t be able to maintain a reputable credit history which is extremely worst considering future banking services. 

An Excellent Credit History Helps Your Home Finance Project

This is the main crucks of this whole debate. If you have an excellent credit history build on your regularity and responsible use of your card, you might be eligible to get the best home finance in Dubai from your bank. This is the most exclusive way to manage your business projects as well as your domestic plans. We can observe that most of the people in the UAE are expatriates and they find it difficult to take an initiative for their own home due to the fund’s shortage. 

We all know that credit card users are busy in their daily routine matters and they don’t bother the actual use of a card in a proper way. But this a big mistake and one can’t afford it if to get mortgage loan offers or any other with a bad credit history. But it would be very easy to handle all things at the end of the day if you could manage the actual balance with the outstanding amount. 

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