Recent statistics released on UAE residents has found the number of residents applying for credit card applications in the first quarter of 2017 are up 65% compared to 2016. 

Added to that, the quarter saw a whopping 102.4% increase in the number of applications.

The stats, released by comparison website, compareit4me.com, released the staggering figures, which also found an increase in the average amount of credit cards applied for – 3.25 per person, up from 2.07. 

Compareit4me.com supposes that the increases in applications means residents are not necessarily getting approval for their first choice of credit card

“This suggests that, as we saw with personal loans towards the end of 2016, those seeking credit in the UAE may be having to work harder to secure it. Such an increase in the number of applications per user tells us that, rather than simply applying for the credit card they want, UAE residents are being forced to shop around for the credit card that they can actually get an approval for,”

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CFO of compareit4me.com, Jonathan Rawling

Also, interestingly, the most-applied for credit card was a lower-end card that only requires AED5,000 per month minimum salary, with no annual fees

The top 10 card applications for the quarter – according to compareit4me.com were: 

1. Citibank Citi Simplicity
2. American Express Platinum 
3. Standard Chartered Visa Infinite 
4. Standard Chartered Titanium 
5. ADIB Cashback Visa Platinum 
6. NBF Islamic Infinite 
7. Citibank Citi Life Platinum 
8. Union National Bank Internet 
9. Noor Bank Best Rate 
10. DIB Johara Gold