^{Customers in need of extra care} Nurturing your financial reputation

We believe that taking charge of your financial obligations plays a crucial role in your financial well-being. Your credit score mirrors your debt management skills, with a higher score reducing your financial vulnerability and heightening your appeal in the eyes of banks and lenders. This enables you to unlock many benefits, including improved interest rates, reduced fees, enticing incentives, and smoother access to financial services. The key to accessing these advantages lies in maintaining a favourable credit score.

Guidelines for building a healthy credit score

• Consider beginning by reviewing your credit reports
• Ensure you consistently meet your bill payment deadlines
• Be thoughtful about the amount you borrow
• Deliberate before seeking new credit opportunities too often
• Consider consolidating your debts if it aligns with your financial goals
• Stay vigilant by periodically monitoring your credit
• Remember to keep your Know Your Customer (KYC) information up-to-date with your banks
• Strive to maintain a well-balanced account to fulfil your financial obligations, including checks and other commitments

Improving your credit score

• Consider starting by reviewing your credit report to evaluate your current standing and identify areas for improvement. Generally, a credit score exceeding 700 is regarded as favourable in the UAE
• Take a moment to inspect your personal information for inaccuracies, ensuring that your address details are correct. Even minor errors can impact your credit score, so consider examining any loans or credit accounts associated with your name for potential mistakes and promptly report them
• Making timely payments for your bills and financial obligations is advisable, as this illustrates your financial responsibility. Keep in mind that not all bills influence your credit score, so refer to your credit report to pinpoint those that do
• Give thought to discontinuing any financial partnerships with others. Joint bank accounts or shared borrowing arrangements can have an impact on your credit rating
• Exercise caution when considering multiple credit applications in a short timeframe. If you have faced credit rejection, it is prudent to avoid applying for additional credit immediately, as this can have an adverse effect on your credit score