How to get and check your credit score in Dubai online
A good credit score is crucial for residents who wish to get approval for loans, credit cards and other financial products in Dubai. If you’re curious about a Dubai credit score and how to check it online, here is everything you need to know.
ALL ABOUT DUBAI CREDIT SCORE
Let us begin with a simple explanation of Dubai’s credit score system to make it easier to understand. A credit score is a three-digit number of 300 to 900 that identifies your financial prudence and risk factor for lending bodies.
This number determines whether you can apply for a loan, a credit card and other similar financial products. The higher your credit score, the better your chances of getting a loan.
HOW ARE CREDIT SCORES ASSESSED?
Al Etihad Credit Bureau (AECB) is responsible for issuing credit reports and credit scores in Dubai. The authority collects every individual’s credit history, including details about loans, mortgage instalments, credit cards and phone bill payments. The credit score is credited with over 2,000 data points.
After gathering these details, the authority runs an algorithm (modern predictive analytics) that predicts the individual’s likelihood of missing payments in the next 12 months. This prediction appears as a three-digit number (credit score).
The credit score can change over time with an individual’s change in financial behaviour.
HOW TO GET AND CHECK YOUR DUBAI CREDIT SCORE?
If you want to check your credit score, this is how you can do it in Dubai.
VIA AECB’S OFFICIAL WEBSITE
- Sign in to your AECB account
- Wait for the “Get Your Credit Score and Report” page to load
- Choose “Credit Score”
- Click “Buy Now”
- Pay the amount and get your score
VIA AECB’S CREDIT REPORT APP
- Log in to the app by scanning your Emirates ID
- Click on “Get Your First Credit Score”
- Check out and get your score
COST
Here’s the breakdown of the charges for credit card scores in Dubai for individuals.
Report Type | Online Charges (VAT included) | Walk-In Charges (VAT included) |
|---|---|---|
Report Type Credit Report and Score | Online Charges (VAT included) AED 84 | Walk-In Charges (VAT included) AED 105 |
Report Type Credit Score | Online Charges (VAT included) AED 10.50 | Walk-In Charges (VAT included) AED 21 |
Report Type Cheque Score | Online Charges (VAT included) AED 10.50 | Walk-In Charges (VAT included) AED 10.50 |
Please note that the charges for establishments and companies are different. Refer to the official AECB website for details.
FAQs ABOUT DUBAI CREDIT SCORE AND REPORT
HOW TO GET A HIGH BANK CREDIT SCORE IN DUBAI?
There are a few components that can help you score better. Those who manage their credit cards well, do not apply for multiple loans quickly, pay their bills on time and reduce their unsettled balances can get high credit scores in Dubai.
Please note:
- It is important to make your credit card payments, loan instalments and other payments on time.
- If you cannot settle the payment immediately, pay at least 5% of the due amount in a month to reduce the amount and score better.
- Credit card users should pay attention to not using more than 30% of their credit card limit to avoid a bad score.
HOW TO GET A CREDIT REPORT/SCORE IF YOU LIVE OUTSIDE OF THE UAE?
To get your Dubai credit score through AECB’s website or app, while living abroad, you must have an Emirates ID and registered mobile phone to complete the process. If you want to delegate this task to a third party, they must submit:
- A copy of your Emirates ID and passport.
- A copy of valid power of attorney.
- A copy of their Emirates ID to get the score/report.
HOW OFTEN SHOULD I REVIEW MY CREDIT REPORT?
If you use a credit card frequently, reviewing your report every three months is recommended.
CAN I GET A CREDIT REPORT STAMPED FROM AECB?
Credit scores/reports are digitally-generated and don’t require any signatures or stamps. However, you can get your report shared with a third party. All you have to do is mention the recipient’s email address when buying a report through AECB’s website or app.
HOW DO I RESOLVE AN ERROR IN MY CREDIT SCORE?
Call AECB at 800-287-328 to report an error, and they will address it with the information provider. Additionally, you can visit AECB customer experience centres in Dubai or Abu Dhabi.
Residents can also fill out the form ‘https://www.aecb.gov.ae/correction’ available on the official AECB website to address the issue.
DO TELECOM OPERATORS ANALYSE MY APPLICATION BASED ON CREDIT SCORE FOR SERVICES?
Yes, telecom operators assess your financial prudence based on your score when deciding to facilitate you with certain services or purchases on an instalment basis.
This concludes our guide on how to check your credit score in Dubai. With a good credit score, you can easily earn the trust of financial institutes. For instance, a good credit score can help you get a mortgage loan approval quickly if you are looking for a home loan in Dubai. Expats can also apply for a credit card in Dubai if they meet the requirements.
Similarly, it is essential to meet the criteria set by the UAE government to apply for a personal loan in Dubai.
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