Having evaluated the available opportunities and potential in the credit card market, NBAD has adopted a new and competitive promotional strategy to accommodate the needs of the market which has been witnessing remarkable growth in demand for credit cards. Accordingly, this unique programme was launched to provide customers with integrated banking benefits in case they transfer other banks' credit card balances to NBAD credit cards, with the possibility of deducting payments directly from the customers' accounts with other banks, providing repayment flexibility and convenience",explained Mr. Khaled Bin Deemas, Head of Retail Banking Group at NBAD.
The NBAD Credit Card Programme is aimed at providing an integrated array of financial solutions and competitive features to individuals in case they transfer their balances from their existing banks to NBAD credit cards where they can have many value added benefits. NBAD credit cards are free for life with neither annual nor renewal fees. With high credit limits up to 5 times of the salary, and a low rate of interest on the transferred balance of just 0.8% per month, the cards provide competitive features with secure payment means and are widespread inside and outside the UAE, as they are accepted by many organizations, shops and points-of-sale both locally and worldwide.
Under this campaign, every customer transferring his existing credit card balance to an NBAD credit card gets vouchers that he can redeem against free flights or free holidays. The free flights offers include key destinations such London, Rome, Paris, Beirut, Malaysia and India amongst others. The free holiday offer includes 1 week's free holiday accommodation for up to 4 people in a selection of resorts across 32 countries.
"NBAD is making its best efforts to keep in line with the fast-paced development in the financial market, especially when it comes to credit cards and providing customized services to our customers of all profiles, as well as capturing a remarkable market share and achieving high growth rates in credit card issues" Mr. Bin Deemas added.