If you are living in the United Arab Emirates, you need a loan to start your business or other needs. If you have a credit score it is crucial for getting a loan, it is not a good thing. If your credit score is good or better the higher your chances will be in getting a higher amount of loans. So, this article shows you how you can check your UAE credit score and how you can easily improve your credit score in a simple way and quick steps.
What is meant by a Credit Score?
Basically, the Credit score characterizes your financial capability so that you can pay your debts. This credit score consists of 3 digits. All the banks and other financial institutions can grant you loans and other financial products that measure your credit score. Also, a better credit score shows your creditworthiness.
What is the Good Credit Score?
The range of good credit scores is 680-730. Also, we considered 700 above credit score good. If you have a good credit score, you can easily get loans and other financial advantages from banks.
What is the Bad Credit Score?
The range of bad credit scores is 300, and this credit score is considered very dangerous. If you have a bad credit score, you cannot easily get loans and other financial advantages from banks.
How can you check your UAE Credit Score?
You can easily check your credit score online and offline if you follow the steps that we can show you in this article.
What is the Requirement for Checking Your Credit Score?
For checking your Credit Score for companies. You will need to provide them with the following documents.
You need a valid Email Address, Trade license, Authorized letter from the company’s manager, and the Bank’s Authorized Signatory. The other documents that the AECB Customer representative
For checking your Credit Score for Individuals. You will need to provide them with the following documents Passport copy, an original Emirates ID card, a valid Email address And the other documents that the AECB Customer representative.
Using the AECB website, you can easily check your UAE Credit Score
Follow all the steps below, and you can easily check your credit score online through the AECB website.
Step 01: First, you must visit the official website of AECB
Step 02: Then you can choose any one option between the individual or Companies.
Step 03: After choosing any one option, you can click on the Get a Credit report now.
Step 04: you will be redirected to the login page. If you have an account, you can log in; otherwise, first, you can sign up and then log in.
Step 06: Now, you can click on Get the report.
Step 07: In the end, you can pay the fee, and your credit report will be easily downloaded
Using the AECB application, you can easily check your UAE Credit Score
Using the AECB App, you can easily check your UAE credit score. Follow all the steps that I will write below to get started.
Step 01: First, you can download the AECB application from the Google Play Store or iOS.
Step 02: Then you can log in with the help of Emirates ID.
Step 03: After that, click on the get credit report.
Step 04: You can pay the fee and easily download the report.
Offline checking of the UAE Credit Score using the AECB Branches.
You can easily check your credit score offline by just visiting the AECB branches. You can visit any branch of AECB with your passport copy, Emirates ID and valid Email Address. You can ask them to check your credit score, and they will provide you with a report. The charges for checking your credit score and getting a report are totally different.
Tip to Improve Your UAE Credit Score
We can provide you with a tip to help you easily improve your credit score.
- First tip: you will avoid cheque bounces.
- Also, you won’t use your whole credit limit and pay off your debts
- You will make sure your payments are made before the due date or the exact time.
- You can reduce your loan and active credit cards that can helop you to improve your credit score.
- You can dispute any inaccuracies. Must remember the incorrect information can reduce your credit score.
Charges of checking the UAE Credit Score
Different charges for checking the UAE credit score for individuals and companies.
For Company charges, using the AECB website
10.50 AED just for credit Score, and with the report is 157.50 AED
Company charges using the AECB Branches
21 AED for Credit Score and with the report is 189 AED
For Individuals, charges using the AECB website
10.50 AED just for credit Score, and with the report is 84 AED
Individual charges using the AECB Branches
21 AED for Credit Score, and with the report is 105 AED
FAQs
How can you check the UAE credit Score?
You can easily check the UAE credit score by paying 10.50 AED and visiting the AECB website and branches.
How can you get your credit report online in UAE?
You can visit the AECB website and request your complete credit report by paying 84 AED.
Final words
In this article, you show a complete guide related to UAE credit scores. Abovementioned, you have a complete procedure to check the UAE credit score online and offline in just simple and easy steps. Also mention requirements, tips and charges as well. You follow the steps mentioned above and easily check your UAE credit score.