Picture for illustration purposes only.
PHOTO BY ARCHIVE
DUBAI – Who knew that one fil in unpaid credit card bill could cause so much trouble for a UAE bank customer?
Arabic newspaper Al Khaleej reported that the customer paid dearly after he forgot to pay Dh0.01 on his credit card bill: he received a negative credit rating.
The incident came to light after the bank customer asked the bank to cancel his credit card. He then found out that an unpaid balance of Dh0.01 negatively impacted his credit rating.
Customers who are not able to settle their debts for more than three months are likely to get a negative credit rating, which affects their future loan and credit applications.
Credit card customers must get a clearance letter after cancelling their credit card to ensure that their card is closed and there are no pending fees. ICA/Expat Media
DOLE AKAP cash aid continues for Filipinos in UAE
Indian expat gives birth at hospital driveway in Sharjah
25 million jobs at risk of disappearing, says IATA
Alyssa Milano on surviving Covid-19 and lingering symptoms
Video: Dubai Police hails Filipino hero nurse who beat Covid-19
UAE exempts Covid-19 vaccine trial volunteers from coronavirus test
125 shops destroyed in Ajman souq fire
RAKBank to close 25% of Dubai, Sharjah, Abu Dhabi branches
GDRFA launches Dubai E-Documents System to screen fakes
Yas Waterworld reopens in Abu Dhabi