The emirates makes an important decision regarding credit cards
When asked about a recent decision made by the emirates regarding credit cards, two bank employees stated that banks will take action if a customer is late in paying credit card installments for sixty days from the date that the first payment was due, If all arrears are paid, the bank will agree to issue a new card and arrange a new payment mechanism, If the card's credit limit is exceeded, certain measures will be taken.
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They stated that" banks that do not have a customer's salary are more quick to take these measures, compared to the salary transfer bank".
Pay credit card installments
In particular, the banker, Tamer Abu Bakr, stated that "customers are required to pay credit card installments on time according to the agreed mechanism, whether by paying 100% or 5%, but if the full credit limit of the card is used and other amounts are added to it, here the banks stop the card after 60 days without receiving any payments from the customer, since the first payment is due" .
He added:"Usually in lower payments, the situation is different, meaning if the customer has not used more than the credit limit of the card, and is late in making a payment, it is usually not stopped, but he is contacted by the collection departments to find out the reasons for the delay, agree on a payment plan and commit".
Obtaining credit cards
The banker, Mustafa Ahmed, commented that for his part "banks grant cards to customers, whether their salaries are with them, or with another bank, as long as their credit rating allows it, so there is great keenness to follow up on the extent of payment commitment, especially from banks where there are no customers' salaries," further stating that "these banks are usually faster in taking measures, than the salary finally, after reaching the stage of default and complete cessation of payment and under certain conditions" .
Stop the credit card in this case
He mentioned that "banks resort to stopping the credit card, if the customer's use exceeds the credit limit, and has not been paid for 60 days from the due date of the payment," stressing the need for customers to commit to making payments on time every month, in order to avoid delay fees and the accumulation of interest. He also mentioned that "banks resort to stopping the credit card, if the customer's use exceeds the credit limit, and has not been paid for 60 days from the due date of the payment."
