Deem credit card is offered by Deem Finance LLC which is regulated by the central bank of the UAE. This credit card is very popular in the UAE because of the benefits that it offers to users including low APR and cash-back rewards. In this deem credit card review, we will tell you everything you need to know about this credit card to help you make an informed decision.
What exactly is the deem credit card?
Deem credit card is a type of credit card designed to provide users with a convenient way to make payments. This credit card is provided by Deem Finance LLC, which has specialized in providing employee-focused solutions to help companies improve their employee’s travel and expense management. This card can be used for a wide variety of things, including paying for purchases, for cashback on statements, buying online gift vouchers, and much more. You can also use it to withdraw cash directly from the nearest ATM.
Deem credit card features
The reason why deem credit card is very popular in the UAE is because of its incredible features. In this section, we will take a closer look at the features that make this credit card stand out above the rest.
Cashback rewards
Deem credit card offers cashback rewards on all purchases made. Cardholders can earn a cashback of up to 3 percent on entertainment and travel purchases and up to 2 percent on grocery and restaurant purchases. Other types of purchases earn 1 percent cashback. This means that you will earn a cashback reward for any type of purchase that you make using this credit card with certain purchases having higher rewards. The more purchase you make, the higher the cashback rewards.
Excellent fraud detection
With this credit card, you don’t have to worry about losing your hard-earned money. It has an excellent fraud detection system that enables it to detect fraud quickly and alert the owner. Additionally, you will not be liable for any unauthorized charges made to your card. It also features a secure online account management system and a robust fraud monitoring system for quick detection of fraud.
Integration with deems travel and expense management software
Another incredible feature that has made this credit card the most preferred option for businesses, is that it is integrated with Deem’s travel and expense management software. This is important because it allows employees and business owners to easily track and manage expenses made by deem credit card.
Mobile app
Deem credit card has a mobile app that allows users to make payments as well as view rewards, transactions, and account balances in real-time from their smartphones or tablets. This feature is particularly helpful for people who travel a lot and need to keep tabs on their expenses.
Low APR
Deem credit card has a very low APR which allows their users to save money on interest charges.
Zero annual fee
Deem credit card does not charge cardholders annual fees as is the case with other similar credit cards. Users will save a lot of money by not incurring unnecessary and hidden fees.
List of documents needed when applying for deem credit card
Personal identification
You need to present a valid government-issued identification card or a passport.
Proof of residence
You need to prove that you are a resident of the UAE by presenting documents such as your rental agreement or utility bills.
Proof of income
You need to show proof of income by presenting your most recent bank statements, tax returns, and/or payslips. These documents will also help the bank know if you have met the income threshold for this credit card.
Your credit report
You need to allow the bank to access your credit report to determine your creditworthiness and whether you qualify for this credit card.
Debt information
You will be required to provide information about any outstanding debts such as bank loans and other credit cards.
Proof of employment
If you are employed, the bank may require you to present a letter from your employer to confirm your employment status and income.
Deem credit card interest rate (APR)
Deem credit card APR varies depending on various factors, including your creditworthiness, the type of card issued, and the current market conditions. But in general, Deem credit card APR ranges between 2.99% and 3.25%.
Deem credit card penalties
Late payment charges (241.5 dirhams)
Over limit charges (341.25 dirhams)