The Best Credit Cards in Saudi Arabia 2023
Compare the best credit cards in Saudi Arabia to the most famous banks and credit companies accredited in Saudi Arabia.
Get the best credit card with the best terms for you, whether for immediate or deferred payment, totally compatible with your financial needs, purchases, and spending culture on the local and global levels.
Compare the types of credit cards in Saudi Arabia with all their benefits, features, and advantages that they give you, including cashback, air money, free tickets, direct discounts, promotions, interest-free installments, and more.
Learn about the best credit cards in terms of fees and interest charges, eligibility criteria, salary transfer and minimum wage, annual fees, credit limit amount, and more.
Compare the best credit cards in Saudi Arabia according to the type of card and the issuing entity, the minimum salary requirement, annual fees, interest rates, salary transfer, credit limit, additional advantages and benefits such as cashback, air miles, discounts, promotional offers, SMS service, type of finance and other features.
Choose the best credit card and submit your application directly through Yallacompare website to complete the process of obtaining it.
- Compare more than 200 credit cards from the top banks, credit card companies, and finance companies in Saudi Arabia.
- Get the best credit card that meets all your financial needs.
- Learn about the best cashback credit cards in Saudi Arabia!
- Discover the best credit card for travel enthusiasts in Saudi Arabia!
- Compare credit cards based on card type, minimum salary requirement, annual fees, interest rate, salary transfer, additional perks and benefits, and more.
The best credit card for 2023 in Saudi Arabia
Don’t miss the opportunity to get the best credit card to manage your monthly payments. Discover the best credit cards in Saudi Arabia from the most famous commercial banks and approved credit companies!
There is no doubt that the use of credit cards is on the rise tremendously, especially in light of the digital transformation witnessed by the service sectors, whether public or private, online shopping, and more.
The best credit card allows you to complete commercial transactions through immediate or deferred payment, whether from shops, online shopping platforms, and retail stores.
Compare credit cards in Saudi Arabia and get the best credit card that satisfies all your needs!
Yalla Compare enables you to compare over 200 credit cards of the most famous banks, credit companies, and financing companies accredited in Saudi Arabia.
Also, Yalla Compare allows you to get the best credit card that meets your needs when it comes to shopping online, buying goods or services, booking airline tickets or hotels, top-up fuel, issuing standing orders, and many more.
Compare the best credit cards in Saudi Arabia according to card type and issuer, minimum salary, annual fees, interest rate, transfer wage, credit limit, additional features and benefits such as cashback, air money, discounts and promotions, SMS service, financing type, and other features.
Choose the best credit card, then submit your request directly through the Yalla Compare website to complete the procedures for obtaining it.
Here are some significant advantages of Yalla Compare:
- Compare more than 200 credit cards from the most important banks and financing companies in Saudi Arabia.
- Get the best credit card that meets all your financial needs.
- Get to know the best cashback card, “Cash Back,” in Saudi Arabia!
- Discover the best credit card for travel lovers in Saudi Arabia!
- Compare credit cards regarding their card type, minimum salary, annual fees, interest rate, transfer wage, additional features and benefits, and more.
What Is a Credit Card?
A credit card is a plastic card with a magnetic stripe or a smart electronic chip issued by a bank or insurance company to any person.
A credit card aims to give people alternative payment methods for all their purchases.
A credit card belongs to the holder whose name appears on it and has a unique number and code, along with its issuance date, expiry date, and CVV code, in addition to a unique secret code (PIN).
A Credit Card According To The Islamic Fiqh Academy
According to the Islamic Fiqh Academy, a credit card is a document given by its issuer to a legal person – based on a contract between them. It enables him to purchase goods or services from whoever approves cards without paying the price immediately.
What Are The Uses Of a Credit Card?
The credit card allows you to choose between many immediate and deferred payment operations, including:
- withdrawing money,
- paying for purchase transactions,
- post-term purchase transactions,
- specifying permanent payment orders,
- paying remotely (whether online or over the phone),
- paying for purchase transactions when traveling abroad,
- and others a lot.
Accordingly, a credit card is an intelligent alternative to cash.
You can replace the credit card with money to purchase any service or commodity so that the amount paid is deducted from your current account or the credit framework.
What Are The Advantages of a Credit Card in Saudi Arabia?
The advantages of credit cards are:
- Approved banks and credit companies issue a card.
The credit card is issued only by accredited banks and credit companies in Saudi Arabia in response to the customer’s desire.
- A personal card is for its holder and only can be traded with family members.
A credit card is a unique card for its holder, and it has an account number that the holder uses to complete purchases and payments using a secret code (PIN).
Still, the owner can trade it with family members if he reveals the card’s secret code to them.
- Immediate payment.
A credit card has options like instant or remote payment (e.g., online or over the phone).
- Each credit card has a specific credit limit.
A specific credit limit is determined for each credit card according to the customer’s worth and credit report, and it can’t be exceeded without consequence (a penalty fee will be charged).
It should be noted that debit cards can be linked to a current account.
- A credit card allows you to pay in installments.
By using a credit card, you can immediately purchase goods and services and pay through deferred installments without interest or at reduced interest, following the terms and conditions of the bank and the card issuance agreement.
- All banking procedures are available.
The credit card allows you to perform all banking procedures, including cash withdrawals, issuing account or card statements, direct paying things to your bank, and more.
- Credit cards differ among themselves.
A distinction must be made between credit cards.
Credit cards differ regarding the issuer and card issuance agreement, type of insurance, credit limit, commission rate, administrative, executive, and current fees, additional features and benefits, and more.
- A credit card can be obtained without a salary transfer.
You can obtain a credit card from any bank you want (terms and conditions apply) without opening an account or transferring the salary if you pay your dues to the bank on time through a credit card account.
What Are The Types Of Credit Cards?
There are five main types of credit cards, namely:
- Prepaid or Reloadable Card
- Debit Card
- Postpaid Credit Cards
- Cashback Card
- Club Card or Corporate Card
- Prepaid or reloadable Card
It is a credit card that is not linked to a current account in the bank, and of course, there is no credit framework at all.
It aims to give you the option of immediate payment with the ability to control the sums of money sent in according to your needs and purchasing culture.
All banks can issue this Card in Saudi Arabia for a one-time issuance fee, but you can renew it whenever you want, with the card issuer’s commission cut short.
- Debit Card
An instant debit, direct debit, or ATM card is the best credit card without a credit limit linked to a current account in the issuing bank.
Amounts you pay while purchasing are deducted from your current balance, and you can use it to complete all banking procedures.
It is usually limited to use only locally.
- Credit Cards
A credit card is limited to a specific credit limit, which can’t be exceeded.
It is a financial framework that serves you so you can immediately buy goods or services and then pay for them through deferred installments to the issuer with an agreed interest rate on the debts due.
- Cashback Card
Cash Back Card is the best credit card with the advantage of cashback from the total amount of each purchase according to the terms and conditions of the issuer.
It is usually without annual fees and is effective when used in stores and service providers approved by the issuer.
- Club card or Corporate Card
The Club Card is a credit card issued by electronic stores or service providers in various fields or companies to their customers or employees to give them specific benefits.
It’s excellent for every commercial transaction you may need in authorized stores and service providers, including direct discounts, cash back, collecting points, rewards, and more when shopping online.
How Do You Choose The Best Credit Card In Saudi Arabia?
Here are some factors that will help you choose the best credit card for 2023 in Saudi Arabia:
- Credit card type.
The credit card type determines its terms and conditions, how a card will be used, and the fees you will pay.
It’s best to choose the type of credit card according to your needs and financial capabilities.
If you want to control the amount of monthly spending, consider debit and prepaid cards.
If you have many purchases on the local and international levels, you can consider a credit card for post-paid payment or a cashback card.
- Consider your financial needs and spending culture.
Financial needs, purchasing, and spending culture help you choose the best credit card
For example: if you are a fan of a particular online store or travel on a specific airline, you can get club cards.
On the other hand, if you travel a lot around the world, it is worth considering an international credit card, and if you want immediate payment, you should choose a direct debit card.
- Commissions and interest.
Compare the commissions and interest rates of the different credit cards.
The bank or credit company imposes a fixed or variable commission on many banking procedures and payments when using a credit card, for example, deferred installments, cash withdrawals, and more.
- Credit card issuance and use fees.
According to the Central Bank of Saudi Arabia, each bank or issuer can impose fees for issuing and using a credit card, including commissions and interest on cash withdrawals, deferred installments, and more.
- Features and benefits of each credit card.
Compare features and benefits between different credit cards and choose the credit card that gives you additional value when using.
For example, look at discounts from your favorite online stores, free ticket options, cashback, extra air miles, and more.
- Late payment fees and other penalty fees.
Check late payment fees, credit limit exceeding fees, account statements issuance fees or bank procedures, transaction cancellation fees, and more.
The Best Credit Card in 2023 in Saudi Arabia – Frequently Asked Questions
Compare the credit cards from the most famous banks and credit companies in Saudi Arabia according to the abovementioned factors.
These factors should include card type, fees and interest, penalty fees, financial needs, purchasing culture, advantages and benefits, and more.
A credit card is a personal and unique instant or deferred payment method which can be issued by banks and credit companies to each person in his name only.
It is either linked to the customer’s current account (direct debit), credit limit (postpaid), or rechargeable (advance payment).
A unique account number and secret code identify credit cards.
Yes, the credit card measures the customer’s prospect of paying his financial obligations. If you fail to pay the deferred installments or exceed your credit limit, this affects your credit report very negatively.
“Simah” is a Saudi Arabia credit information company under the supervision of the Central Bank of Saudi Arabia.
It is responsible for collecting all data on credit card users in Saudi Arabia and then creating a credit record for each customer to help banks evaluate his credit score when submitting loan requests.
The Debit Card is an instant payment card without a credit limit linked to a current account in the customer’s name, immediately deducting amounts from his account.
It does not support deferred installments but only payments in one immediate installment. In contrast, a Credit Card is a card with a particular credit limit (similar to a short-term loan).
You can use it to build a term installment plan to deduct the payments from the credit frame, but you must pay it on a deferred date with an interest rate. Usually, you do not need a checking account.
Best Credit Card For 2023 in Saudi Arabia
- The Best Credit Cards in Saudi Arabia 2023
- The best credit card for 2023 in Saudi Arabia
- What Is a Credit Card?
- A Credit Card According To The Islamic Fiqh Academy
- What Are The Uses Of a Credit Card?
- What Are The Advantages of a Credit Card in Saudi Arabia?
- What Are The Types Of Credit Cards?
- How Do You Choose The Best Credit Card In Saudi Arabia?
- The Best Credit Card in 2023 in Saudi Arabia – Frequently Asked Questions