How do I apply for a credit card?
The referral program awards you a 500 AED voucher when you refer your friend for a credit card through Fiso. The process is extremely simple. Generate a link here, or through the Fiso mobile application. Forward the link to a friend or family member. Please note that a single link Is good for one referral only. Generate a new link for every referral. Once the link has been sent to the referred, they must click it and agree to our terms and conditions. Shortly after, our agent will assist them in getting the credit card. On successful activation of the credit card, a 500 AED voucher will be sent to your Fiso account. There is no limit to how much you can earn through our referral. If you were to refer 100 friends successfully, you would earn 50000 AED just like that

How does the referral program work and is there a limit to how much I can earn?
The referral program awards you a 500 AED voucher when you refer your friend for a credit card through Fiso. The process is extremely simple. Generate a link here, or through the Fiso mobile application. Forward the link to a friend or family member. Please note that a single link Is good for one referral only. Generate a new link for every referral. Once the link has been sent to the referred, they must click it and agree to our terms and conditions. Shortly after, our agent will assist them in getting the credit card. On successful activation of the credit card, 500 AED voucher will be sent to your Fiso account. There is no limit to how much you can earn though our referral. If you were to refer 100 friends successfully, you would earn 50000AED just like that.

How long does an application take?
If you apply for a credit card right now, it will be delivered to your doorstep within the 5 to 7 working days.

What is AECB?
AECB stands for Al Etihad Credit Bureau, which is a Federal Government organization in charge of issuing credit reports to individuals and institutions as per legal regulations. To provide accurate credit reports, AECB collects credit data and financial commitment reports from relevant establishments. AECB credit report gives a 3-figure number called the Credit Score which ranges from 300 to 900. This score is an important indication to financial institutes of whether you make your loan payments or not and hence directly affects your chances of loan/credit card approval. A low credit score indicates higher risk and vice versa.

What are credit cards and why do you need one?
A credit card is a plastic or metallic thin rectangular piece distributed by banks or financial services company that allows owners to borrow funds with which to pay for goods and services. They can be used with sellers who accept credit card payment. Along with the standard credit line, the card issuing company can grant a separate line of credit (LOC) to the owners, equipping them to borrow money as cash loans which can be retrieved through bank cashiers. Credit cards help you finance big purchases and are safer to hold than cash.

What is credit limit?
Credit limit is the maximum amount you are allowed to spend with your credit card. If you make a purchase, the amount you spent for that purchase will be subtracted from your credit limit and the remainder number is your available credit.

What is the minimum salary required to get a credit card?
Although the minimum salary amount varies across different cards and institutions, the least amount you need to be earning to procure a credit card in UAE Is AED 5000.

Maximum tenor for Personal Loans?
The maximum tenor for personal loans in 48 months

What is a cashback credit card?
Cashback credit cards give you the opportunity to make money on the money you spend, by paying you back a percentage of the amount you spend or by giving you reward points. If for example a credit card offers 2% cashback on your purchases, you can receive AED 20 if you spend AED 1,000. Cash Back credit cards have different types. Some cards pay a flat cashback rate on purchases, while others have varying cashback rewards depending on the sort of purchase. For instance, you may earn varying cash back rewards depending on whether you’re spending at a grocery supermarket, a clothing outlet, or a fuel pump. Your card providers will give you detailed information of all benefits and conditions. These t&cs are subject to change as per the banks policy.

What is a reward point credit card?
A reward credit card is a card that incentivizes the holder by offering rewards in the form of points on the purchases they make. You can collect and accumulate these points as you make purchases and redeem them for cashback, gift vouchers, air miles or other rewards depending on the credit card type. An example of this would be if a credit card offers 1000 points for every AED 1000 you spend. You can then check against their catalog to see how much your desired product is worth in points. A bag might cost 10000 points for instance. The discounts and rebates these cards offer make them desirable to users

What is an airline/airmiles credit card?
An airline credit cards offers benefits geared to people who fly often. These benefits and rewards can be in the form of air miles, welcome bonus, in-flight discounts, priority boarding or free checked luggage. The cards are often branded with specific airlines and only those airlines offer the rewards and incentives. The number of points earned are mentioned in monthly user statements.

What is a premium credit card?
Premium Credit cards are cards that offer a superior range of exclusive benefits and rewards. Some popular benefits offered by these cards include but are not limited to: enhanced travel and insurance features, VIP airport lounge access, personal concierge service, golf access complimentary airport transfers and more. The range of rewards offered are suited to the holder’s lifestyle. There is a range of premium cards that Fiso offers, let us help you get the best exclusive offers catered to your aspirations and lifestyle.

Am I permitted to withdraw cash using my credit card?
Yes, most lenders allow users to withdraw cash from an ATM using their credit card. The withdrawn cash shows up as charge on the credit card and is subtracted from the credit limit.

What are welcome bonuses and joining offers on a credit card?
On top of the rewards earned on credit card purchases, welcome bonuses and joining offers are bargains employed by banks to incentivize customers to sign up and position themselves above competitors. Welcome bonuses are rewards offered to new customers and can be in the form of increased point rewards and higher cashback percentages in a predicated initial period of joining. These offers can be applied offered on loans too. For personal loans, home loans or auto loans, these rewards can be in the form of lower interest rates, lower processing fee and sometimes free gifts as well.

What does it mean to have no annual fee on a credit card?
No annual fee credit cards do not charge a fee to the user, making them more convenient and accessible. Despite having no fees, these cards offer various attractive rewards and offers to users.

What is 3D Secure?
3D Secure is an additional layer of card-holder security authentication on online credit and debit card transactions. If a bank finds an online transaction suspicious, it redirects the transaction to a 3D Secure page for extra verification.

How can I apply for a credit card?
Here at Fiso, we are a team of financial experts offering you cards that are best suited to your needs. We realize the importance and luxury that the right credit card offers. Tell us your requirements and preferred perks and then let our experts assist you in getting the best there is. The process is short and simple, fill in the short sign up form on our home page and let our experts reach out to you shortly after.

What is a clearance letter?
Clearance letter also referred to as “letter of no liability” is a document issued by the bank showing that the customer has settled their outstanding dues with the bank with regards to their loans and credit cards.

What is a Loan?
A Loan is onetime payment borrowed from a bank or some other financial institution. The borrowed money has a set repayment period and is paid back in consistent monthly payments.

How do I get a loan and what are the required documents?
Fiso offers you the lowest interest rate personal loans in the UAE. We make sure that your loan acquisition is seamless and transparent. You are required to present income documents and identity documents to secure a personal loan. For Auto Loans, documents concerning the vehicle identity are also required. Don’t stress about getting the document checklist in order, Fill the short sign-up form on our home page so you can avail the best loan option for you. Our agent will reach out to you shortly and guide you through the whole process including the documentation.

Maximum amount that I can borrow as a personal loan is?
The maximum amount that is given for personal loans in UAE can’t be more than 20 times the customers salary.

What are the different loan charges and processing fees?
The charges for loans depend on various factors. There is a general processing fee for all loans though it is sometimes waived in lieu of ongoing promotions and offers.

What does EMI mean in loans?
EMI translates to ‘Equated monthly installments. These are the regular monthly payments made to pay off the debt.

What is meant by Debt burden ratio (DBR)?
Debt burden ratio Is an important factor considered when determining someone’s eligibility for loans. It is a measure of the candidate’s ability to give EMI’s and pay off the debt. To be eligible for a loan in the UAE, the DBR should not be above 50%.

Can I pay my loan ahead of time?
Yes, typically you can pay off a personal loan ahead of time without any extra charge charges. However, some lenders incur a prepayment fee on the borrower for advance payment.