Understanding Credit Scores in the UAE: Key Insights
Intro
Navigating the financial landscape in the UAE can be a daunting task, especially when it comes to understanding credit scores. These numbers play a critical role in determining oneâs financial opportunities, particularly for those eyeing investments in the vibrant real estate market of Dubai. With various factors influencing these scores, gaining a comprehensive understanding is vital for anyone looking to build or enhance their financial standing.
In this article, we will dissect the intricacies of credit scores within the UAE context. We will explore what constitutes a strong score, how it can open doors to financial prospects, and the myriad elements that affect this important number. As we delve deeper, the insights presented will serve as a compass for investors, homebuyers, renters, and realtors alike.
The importance of credit scores extends far beyond mere numbers; they reflect trustworthiness in financial dealings. Therefore, understanding the mechanics behind them is not just an academic exercise but a practical necessity in todayâs competitive market.
Letâs embark on this journey to enhance our understanding of credit scores and their profound impact on financial decisions in the UAE.
Defining Credit Scores
Understanding credit scores is the cornerstone for individuals seeking to navigate the financial landscape in the UAE. This section sets the stage for grasping how credit scores operate, why they hold significant weight in the borrowing arena, and the essential components that contribute to this obscure yet vital numberâa figure that can make or break financial opportunities.
What is a Credit Score?
A credit score is essentially a numerical representation of an individual's creditworthiness. Think of it as a financial report card that encapsulates oneâs borrowing habits and repayment behaviors. In the UAE, credit scores typically range from 300 to 900, with higher scores indicating better creditworthiness.
At its core, this score is calculated based on several factors, predominantly how timely youâve been with past payments, your total debt, the length of your credit history, and the types of credit accounts you may have. Itâs not just a number; it reflects an individualâs financial reliability and can dictate access to loans, credit cards, and even rental agreements. By grasping what a credit score entails, individuals can position themselves better in financial settings, especially in a dynamic market like Dubai.
Importance of Credit Scores
The importance of credit scores cannot be understated, especially for those living or investing in the UAE. Here are several key aspects worth noting:
- Access to Financing: A strong credit score facilitates easier access to loans and credit facilities, which is crucial for those looking to purchase property or invest in business.
- Interest Rates: Credit scores significantly influence the interest rates offered by lenders. A higher score can equate to lower interest rates, leading to substantial savings over time.
- Reputation and Trust: In a competitive market, good credit scores bolster your reputation among lenders and landlords alikeâthis can be the difference between securing that dream apartment or facing a rejection.
"Your credit score isnât just a number; itâs a key to financial opportunities that can unfold your aspirations."
In the fast-paced environment of the UAE, where real estate and financial commitments intertwine, understanding the foundation behind credit scores is crucial for anyone wishing to capitalize on their financial potential. By making sense of these numbers, individuals can better prepare to face their future endeavors, armed with the knowledge to improve and maintain a solid credit standing.
The Credit Reporting Agencies in the UAE
In the context of personal finance in the UAE, understanding the role and significance of the credit reporting agencies cannot be overstated. These organizations form the backbone of the credit scoring system, providing the necessary data to various financial institutions, landlords, and businesses to assess an individualâs creditworthiness. By collecting, analyzing, and sharing credit information, credit bureaus play a crucial role in financial transactions across the nation.
Credit bureaus ensure that the financial ecosystem operates smoothly by offering a standardized way to evaluate the risk associated with lending money or offering credit. This framework not only helps lenders make informed decisions but also protects consumers from overextending their financial exposure. Individuals looking to understand their credit scores and improve them must be aware of how these agencies function and the various factors they consider when compiling credit reports.
Major Credit Bureaus
In the UAE, the primary players in the credit reporting landscape include the Al Etihad Credit Bureau and the UAE Credit Bureau. Each of these agencies operates under specific regulatory frameworks aimed at ensuring the accuracy and confidentiality of credit information.
- Al Etihad Credit Bureau: This bureau was established to create a centralized credit reporting system that combines data from various banks and financial institutions. It provides both individual and business credit reports. With the help of algorithms, Al Etihad evaluates creditworthy behaviors and assigns scores accordingly.
- UAE Credit Bureau: Known for its analytics-driven credit solutions, this bureau factors in more dynamic data points. These include payment histories, lending patterns, and spending behaviors, which help lenders understand an applicant's financial habits.
These agencies help in identifying potential risks and defaults, giving financial entities the clarity to lend responsibly. An intriguing aspect about these bureaus is their collaboration with various banks, enabling them to continuously update and refine their databases. This solidarity reinforces consumer protection while nurturing a fair lending environment by avoiding the pitfalls of misinformation.
How Credit Bureaus Function
The operational mechanism of credit bureaus involves the meticulous gathering and assessment of credit-related data. Hereâs how the process typically unfolds:
- Data Collection: Credit bureaus gather information from banks and financial institutions regarding borrowersâ payment histories, outstanding debts, and account statuses. This data encompasses a range of financial interactions, from the timely payment of loans to defaults or bankruptcies.
- Data Analysis: Once collected, the data undergoes rigorous analysis to evaluate credit risk. The bureaus apply mathematical models to derive credit scores based on various indicators such as payment history and credit utilization ratio.
- Reporting: After analyses, the credit scoring agencies prepare detailed reports which they share with authorized entities. These reports provide insights into an individual's credit behavior, ultimately informing the lending decisions made by banks and other financial institutions.
- Consumer Rights Management: In the UAE, individuals have the right to request access to their credit reports. This transparency allows consumers to stay informed regarding their credit standing and identify areas for improvement.
"By maintaining a robust credit reporting network, the UAE ensures that both lenders and consumers are safeguarded in their financial dealings."
In summary, the credit reporting agencies play an indispensable role in forming the credit landscape of the UAE. By accurately assessing and reporting credit information, they facilitate sound lending practices while empowering consumers to take charge of their financial futures. Individuals who grasp how these bureaus work are better equipped to manage their credit scores effectively.
What is Considered a Good Credit Score?
Understanding what constitutes a good credit score is pivotal for anyone navigating the financial landscape in the UAE. With a credit score acting as a cornerstone of financial health, it shapes the decisions of lenders, insurers, and even landlords. The significance of a good credit score goes beyond mere numbers; it encapsulates the trustworthiness of an individual, making it an essential aspect for investors, homebuyers, and renters alike.
Understanding the Score Range
In the UAE, credit scores typically range from 0 to 900, with higher scores indicating a lower risk for lenders. A score of above 700 is generally considered good, whereas anything above 800 is deemed excellent. Hereâs how the range breaks down:
- 300 to 499: Poor - This indicates significant issues related to payment history or excessive debt.
- 500 to 699: Fair - This range shows that thereâs room for improvement with past credit behavior.
- 700 to 799: Good - A sign of responsible credit management.
- 800 to 900: Excellent - Reflects stability and low risk, often leading to favorable loan terms.
Understanding where you stand in this scale can help you make informed decisions. For instance, if you find yourself in the 700 range, you might qualify for better interest rates, while those at or below 600 could face higher costs when borrowing.
Factors Defining a Good Score
Several key elements contribute to what defines a good credit score, each playing its part in forming the overall picture:
- Payment History: Timely payments on loans and credit cards make up a large portion of your score. Late payments can be detrimental, so a track record of on-time payments is crucial.
- Credit Utilization Ratio: This ratio compares the total credit you are using against your total available credit. Keeping this below 30% is advisable, as high utilization can suggest risk to lenders.
- Length of Credit History: A long and well-managed credit history plays in your favor. Lenders often want to see how reliably you manage your debts over time.
- Variety of Credit Accounts: Having a mix of credit accounts, such as credit cards, personal loans, and even mortgage loans, can positively influence your score.
To put it simply, a good credit score relies on financial habits, not just financial history. Good practices pave the way to favorable financial products and opportunities.
A solid grasp of these factors can empower you to take steps towards enhancing your credit score, ultimately opening doors in various financial dealings. Knowing what is considered a good credit score puts power back in the hands of the consumer, making them more informed and capable in their financial endeavors.
How Credit Scores Affect Financial Opportunities
In the UAE, having a high credit score is like holding a golden ticket. It can significantly shape financial outcomes across various aspects of life. From securing loans to renting a property, the influence of credit scores is paramount. This section will delve into the specifics of how your credit score impacts critical financial opportunities.
Impact on Loan Approvals
The connection between credit scores and loan approvals is as strong as a tightly-knit safety net. When financial institutions evaluate loan applications, they look primarily at credit scores as a key indicator of the applicant's trustworthiness. A high credit score signals to banks that you have managed credit responsibly in the past, increasing the likelihood of approval. Conversely, a low score can raise red flags, prompting lenders to either reject the application or offer loans at unfavorable terms.
For instance, consider a scenario where an individual, Ahmed, seeks a personal loan for starting a business. His credit score stands at 750, which is relatively high. When applying for a loan at Dubai Islamic Bank, the bank quickly approves his request, confident in his repayment ability. On the other hand, Fatima, with a score of 580, faces numerous hurdles, leading to multiple rejections and suggestions to improve her credit history before attempting again.
Influence on Interest Rates
Interest rates are often where the rubber meets the road in terms of financial costs. Lenders use credit scores to determine interest rates on various loans. A higher score commonly correlates to lower interest rates, saving borrowers considerable sums over the life of a loan.
Imagine this: If Ahmed, with a score of 750, secures a mortgage at a fixed rate of 3%, he enjoys an advantageous financial position, potentially saving thousands of dirhams over thirty years. In contrast, Fatima, still struggling with her low score, faces a rate of 7% on the same mortgage, leading to increased monthly payments that may stretch her budget thin. It's clear that understanding this nuance can help individuals to not only grasp the importance of their credit score but also motivate them to make improvements.
Effect on Rental Applications
When it comes to renting, a credit score can act as a double-edged sword. Property owners and realtors often check potential tenants' credit scores as part of the application process. A solid score can expedite the approval process, while a low score can derail one's chances of securing a desired rental property.
Take the example of a couple, Omar and Lina, looking to rent a two-bedroom apartment in Jumeirah. They have a credit score of 700, which positions them favorably in the eyes of landlords. Their applications are processed swiftly, and they receive the lease offer more quickly than other candidates. In contrast, their friend Tariq, with a credit score of 550, finds himself repeatedly turned away, even though he can afford the rent.
As these scenarios reveal, being aware of how credit scores affect financial opportunities serves as a crucial stepping stone in navigating life's adult responsibilities. Building and maintaining a robust credit profile can unlock doors that allow individuals to pursue their ambitions with greater ease.
Common Myths About Credit Scores
Understanding the common myths surrounding credit scores is essential for anyone navigating the financial landscape in the UAE, whether you're an investor, realtor, homebuyer, renter, or developer. These myths can cloud judgment and lead to poor financial decisions, impacting creditworthiness and future opportunities. By unraveling these misconceptions, individuals can grasp the realities of credit scores, empowering them to make informed choices regarding credit management.
Debunking Misconceptions
Many people hold on to various misconceptions about credit scores that can skew their understanding. For instance, one prominent myth is that checking your credit score negatively impacts it. In reality, this is only half true. When you check your own score, it's known as a âsoft inquiryâ and does not affect your credit. However, when a lender checks your score as part of a loan application, thatâs a âhard inquiryâ and can impact your score slightly. This distinction is crucial for individuals wanting to manage their credit proactively.
Another common belief is that carrying a balance on credit cards helps build a score. Contrary to this notion, maintaining a zero balance is often better for your credit score because it reflects responsibility and reduces your credit utilization ratio. In todayâs digital age, information is swiftly available and it's important to sift fact from fiction to navigate credit more effectively.
Moreover, some may think that closing old credit accounts will enhance their score. In essence, closing an account can actually harm your credit history by shortening your average account age, which plays a significant role in determining your score. Think of your credit history like a long storyâwith shorter tales often being less impactful.
Understanding Myths Versus Reality
It's not uncommon to encounter a range of myths about credit scores that may lead many astray. To comprehend the landscape thoroughly, let's break down several myths versus the corresponding realities:
- Myth: "Having a credit card means youâll have a bad score."
- Myth: "All debts are bad for credit scores."
- Myth: "You can't improve your score if it's low."
- Myth: "Credit scores differ wildly from agency to agency."
- Reality: Having a credit card can be beneficial if managed well. Timely payments contribute positively to your score.
- Reality: Certain types of debt can enhance your score, especially when they are paid on time.
- Reality: There are various strategies, such as reducing outstanding debt and making punctual payments, that can gradually improve your score.
- Reality: While different agencies might use different scoring models, the basic principles remain consistent across bureaus.
Demystifying these myths is vital for establishing a strong financial footing.
By understanding the realities of credit scores, individuals can take actionable steps towards cultivating better credit health. This knowledge ensures that they are well-equipped to handle any challenges that come their way in the UAE's financial market.
Factors That Influence Your Credit Score
Credit scores are often seen as the backbone of financial reputation, especially in the dynamic landscape of the UAE. Understanding the various factors that influence your credit score is paramount. A high score can open doors to better financial opportunities, while a low score can become a significant obstacle. By grasping the intricacies of these influencing elements, individuals can take informed steps to enhance their credit standing.
Payment History
One of the most critical components of your credit score is your payment history. This aspect accounts for a substantial percentage of the score itself, acting as a reflection of your financial responsibility over time. If youâve consistently paid your bills on time, it shines a spotlight on your reliability. On the contrary, late payments or defaults can lead to a steep downturn in your score, painting a less-than-favorable picture for lenders.
For example, imagine a tenant who has a seamless history of paying rent. If they apply for a loan, lenders might view this positively, understanding that this individual values their obligations. In contrast, a tenant with several missed payments may find doors closing due to perceived financial instability.
Credit Utilization Ratio
Another essential facet of credit scoring is your credit utilization ratio. Simply put, this ratio measures the amount of credit youâre using versus your total available credit limit. Ideally, keeping this ratio below 30% is recommended. Why? Lenders generally prefer those who manage their debt efficiently, rather than those who are maxing out their limits.
For instance, letâs say you have a credit card with a limit of 10,000 AED and your current balance is 3,000 AED. Your utilization ratio would be 30%, which is generally acceptable. However, if your balance climbs to 8,000 AED, your ratio jumps to 80%, which may raise flags for lenders.
Length of Credit History
The length of your credit history also plays a vital role in shaping your credit score. Lenders favor individuals whose credit accounts have been active for a longer period. This gives them a more comprehensive view of your financial behaviors over time. A longer credit history advocates for stability and a proven track record.
For a concrete example, consider two individuals with similar credit scores but differing credit histories. Individual A has had credit accounts for five years, while Individual B has had accounts for only one year. Lenders may lean towards Individual A, as there's more data available regarding payment patterns and overall credit management.
Types of Credit Accounts
Finally, the diversity of credit accounts significantly impacts your score. Holding a mix of credit typesâsuch as credit cards, personal loans, and mortgagesâcan reflect your capability to handle various kinds of credit. This depth can signal to lenders that you are a well-rounded candidate for credit.
However, itâs essential to tread carefully. Accumulating various credit types for the sake of diversity without a solid plan can lead to disaster. For instance, a homeowner who also has a personal loan and a credit card demonstrates healthy credit management, while someone who opened multiple accounts over a short time may come off as reckless.
"A diverse credit profile, managed responsibly, is an asset in the eyes of lenders."
In summary, understanding these factorsâpayment history, credit utilization, length of credit history, and types of credit accountsâis paramount for anyone seeking to improve their credit score in the UAE. Armed with this knowledge, individuals can navigate their financial futures more effectively and make informed decisions to build a solid credit profile.
How to Improve Your Credit Score
Improving your credit score stands as one of the most critical financial endeavors for anyone looking to enhance their financial landscape, especially in the UAE's thriving market. Understanding how to navigate the nuances of credit scores can open up doors to better loan terms, housing opportunities, and favorable interest rates. This section delves into practical measures to elevate one's credit score, ensuring that individuals can foster a healthier financial profile.
Timely Payments
Making payments on time usually isnât rocket science, yet it holds the key to a glowing credit score. According to various studies, over 35% of your credit score hinges on payment history. A missed payment, even by a few days, can create a dent that takes time to heal.
To help avoid late payments, many folks benefit from using
- Automated payment services: Setting up direct debits can keep you off the naughty list and ensure that bills are settled before they turn into a headache.
- Calendar reminders: Simple alerts can help remind you when that credit card payment is due. Itâs a small act that packs a big punch.
It's crucial to manage your payments actively and set up a reminders sytem, so no matter how busy life gets, timely payments never go off the radar.
Reducing Debt Levels
Now, this one's a no-brainer, yet often overlooked. Keeping debt levels low can significantly boost your score. Credit utilizationâhow much of your available credit youâre usingâplays a whopping 30% role in your credit score. Ideally, you should aim to keep your credit usage below 30%.
Here's how you can tackle this:
- A strategic pay-it-down approach: Get a grasp on your highest balances first and throw extra funds at them until they're manageable.
- Consider a balance transfer: If youâve racked up significant credit card debt, consider utilizing credit cards with lower interest rates for payment consolidation.
Continually reducing outstanding debt not only frees you up financially, but sends a signal to credit agencies that you are a responsible borrower.
Regularly Monitoring Your Credit Report
Being proactive about checking your credit report can be a total game-changer in your credit journey. Mistakes happen, and inaccuracies can creep into your credit report like weeds in a well-tended garden. Regularly monitoring ensures that your credit history reflects the truth.
In the UAE, you can access your credit report from agencies like Al Etihad Credit Bureau or any major credit bureau. Look for the follwoing:
- Inaccuracies or errors: If a previous account shows up as unpaid when it was settled, don't hesitate to raise a flag.
- Unfamiliar accounts: These may indicate fraud. Better to check than be caught off guard.
By keeping an eye on your report, you can quickly correct inaccuracies, manage your financial history proactively, and stay on the path to a better credit score.
"When it comes to credit scores, an ounce of prevention is worth a pound of cure."
In summary, improving your credit score involves a blend of timely payments, reducing debt levels, and vigilant monitoring of your credit report. By implementing these practical strategies, youâll be on your way to strengthening your financial standing in the UAE's complex landscape.
Credit Scores in the Context of Real Estate
Understanding credit scores is essential for navigating the complex landscape of real estate in the UAE. This sector, booming as it is, demands borrowers to maintain a healthy financial profile. The nuances of credit scores can either facilitate or hinder property transactions, making comprehension of this topic vital for investors, homebuyers, landlords, and renters alike.
Importance for Property Buyers
For property buyers, a solid credit score is akin to gold in the real estate game. Itâs not just numbers on a report; it directly affects your purchasing power. A high credit score signals to lenders that you are a trustworthy borrower, which can lead to more favorable mortgage terms.
- Imagine wanting to snag that dream apartment in Dubai Marina but finding out your credit score isn't up to par.
- Here are some key reasons a good credit score matters for buyers:
- Lower Interest Rates: With a good credit score, buyers can often secure lower interest rates on mortgages, which translates into significant savings over time.
- Enhanced Borrowing Capacity: A high score can increase the amount lenders are willing to extend, assisting in purchasing higher-value properties.
- Better Negotiation Power: Sellers tend to view buyers with good credit as more reliable, potentially leading to better deals during negotiations.
In essence, a buyer's credit score can open many doors or, conversely, keep those doors firmly shut.
Landlords and Credit Scores
For landlords, understanding tenants' credit scores provides a window into their financial reliability. In the UAE, where rental scams occasionally rear their ugly heads, landlords often leverage these scores to gauge the risk of distress rental agreements.
- The implications of credit scores on landlords can be manifold:
- Tenant Screening: A credit check can reveal a potential tenant's history of timely payments, making it a crucial step in screening processes.
- Risk Assessment: Landlords can assess the financial risk of prospective tenants based on their credit profiles, reducing the chances of late payments or defaults.
- Rental Terms: A tenant with a robust credit score might gain preference, possibly allowing them to negotiate better lease terms, including lower deposits or more favorable renewal clauses.
Credit scores not only predict a tenant's ability to pay rent on time but can also be a barometer for their overall character as a tenant.
Credit Scores and Expatriates in the UAE
When it comes to understanding credit scores in the UAE, expatriates hold a unique position. Learning about credit scores is not merely an academic exercise for these individuals. Instead, itâs a crucial aspect of their financial journey in a foreign land. Expatriates often face distinctive challenges as they strive to build their financial lives in the UAE.
One of the main considerations is that a good credit score can significantly influence various financial opportunities. It can help expatriates secure loans for purchasing property, renting apartments, or even getting better interest rates on financial products. For many, knowing how to manage and improve their credit score is akin to holding a map in a new cityânecessary for navigating through financial landmarks and potential pitfalls.
Challenges Faced by Expats
Expatriates frequently encounter unique challenges linked to credit scores that can slow down their financial progress. Here are a few hurdles that need to be addressed:
- Limited Credit History: Many expatriates enter the UAE with no local credit history. Without a record, lenders often see them as high-risk borrowers, complicating their chances for loans or credit cards.
- Work Visa Regulations: Various job sectors and visa types can impact an expat's credit options. For instance, someone on a short-term visa may be less likely to secure long-term loans compared to those on residency visas.
- Cultural Differences: Understanding the local credit landscape is challenging. The rules and practices in the UAE can differ significantly from those in other countries, leading to confusion and unintentional credit mismanagement.
- Financial Literacy: Not all expatriates are familiar with the local financial system. A lack of understanding could lead to poor financial decisions that adversely affect their credit score.
Navigating the UAE Credit System
Navigating the credit system in the UAE requires a careful approach. Here are some strategic actions expatriates can consider for optimizing their credit standing:
- Admission of Local Credit Products:- Look into credit cards and loans offered by local banks. Many institutions cater specifically to expatriates, making it easier to establish a credit history.
- Build a Relationship with Local Banks: Establishing a solid relationship with a bank can be beneficial. Regular communication with bank representatives may help expats better understand their credit options and available products.
- Timely Payment of Obligations: Consistently paying bills on time is crucial. Even small, regular payments can help build a positive credit profile.
- Monitor Credit Reports: Regularly checking oneâs credit report from local bureaus can aid in identifying areas for improvement or discrepancies that should be rectified.
âA stitch in time saves nineââacting sooner rather than later can lead to significant financial benefits.
- Seeking Professional Advice: When in doubt, it may be wise to consult with financial advisors who specialize in expat finances. They can provide tailored strategies suited for individual circumstances.
In summary, while navigating the credit system may seem daunting, expatriates can position themselves for success through proactive measures. Understanding and improving oneâs credit score is not just about numbers; itâs about crafting a secure financial foundation in a vibrant, yet complex, setting like the UAE.
Preparing for a Healthy Credit Score
A healthy credit score is not just a number; it's a key to unlocking various financial opportunities. This section shines a light on why itâs crucial to prepare your credit score thoughtfully and strategically. Having a good credit score can lead to lower interest rates, easier loan approvals, and might even make rental applications smoother. Investors and homebuyers in the UAE particularly benefit from a strong score, as it reflects financial reliability to lenders and landlords alike.
Building Credit History in the UAE
Establishing a robust credit history in the UAE is essential, especially for newcomers or expatriates. Here are some strategies to get you started:
- Open a Local Bank Account: Start by opening a bank account with a UAE-based bank. Establishing a banking relationship can provide essential insights into your financial behavior.
- Get a Credit Card: Most banks in the UAE offer credit cards to residents. Use it for minor purchases and pay off the balance monthly to build your credit history. This shows lenders that you can manage credit responsibly.
- Use Personal Loans Wisely: If you take out a personal loan, ensure you plan your repayments meticulously. Consistent, on-time payments will bolster your credit score.
- Engage in Utility Contracts: Signing utility contracts (electricity, water, etc.) and paying those bills punctually can help enhance your credit profile, as these payments can sometimes show up in credit reports too.
Building a credit history takes time, and itâs essential to be patient. The UAE market can be quite competitive, so every positive action contributes towards depicting you as a trustworthy borrower.
Managing Existing Debt
Once you've started establishing your credit history, the next step is managing any existing debts wisely. Debt management is crucial; irresponsibly handled debt can undermine your efforts in building a healthy credit score. Here are practical steps to consider:
- Track Your Spending: Keep tabs on where your money goes each month. Create a budget to ensure you have enough to cover debt repayments and still save.
- Prioritize High-Interest Debts: If you have multiple debts, consider tackling those with the highest interest rates first. This can save you money in the long run and help you pay off your debts more quickly.
- Negotiate with Creditors: If you find yourself overwhelmed, reach out to your creditors and discuss possible restructuring of payments. They might offer solutions that can ease your burden without affecting your credit score heavily.
- Avoid Defaulting: Defaulting on loans or failing to pay credit cards can have long-lasting negative effects on your score. Always aim to stay in communication with your creditors and keep up with your repayments.
Managing existing debt requires discipline and proactive measures. Always remember, a solid credit score reflects good habits over time, and taking small but consistent steps can lead to significant improvements in your financial health.
It's important to note that spending responsibly, along with timely repayments, contributes to a healthy credit score in the UAE.
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