Last Updated on December 8, 2013 by Brian Habibi
Credit card interest rates vary greatly from country to country. The UAE’s demographics pose a challenging risk for the banking sector. With a very large expat population, the majority of borrowing is done by expat residents who hold a silent risk of returning back to their home countries with outstanding loans.
However, an effective credit bureau for vetting borrowers’ credit histories and status is an effective and logical start to regulating credit card usage in the UAE.
| COUNTRY | CREDIT CARD INTEREST RATE |
| United Arab Emirates |
33%
|
| Australia |
18%
|
| Brazil |
72%
|
| Canada |
19%
|
| China |
18%
|
| India |
35%
|
| Malaysia |
18%
|
| Nigeria |
31%
|
| Norway |
20%
|
| Philippines |
36%
|
| Russia |
20%
|
| South Africa |
28%
|
| United Kingdom |
17%
|
| United States of America |
16%
|
Related articles:
Top Credit Card Fees You Should Know About
2 comments
Comments are closed.