US Credit Score

[rahzaa]

Is the US credit score of any use in UAE? Does the UAE have their own credit rating system? Are all the car loans, mortages based on salary only?

[rsinner]

Originally Posted by rahzaa

Is the US credit score of any use in UAE? Does the UAE have their own credit rating system? Are all the car loans, mortages based on salary only?

1. no
2. no
3. yes

[Kawasutra]

You can have 10 credit cards and 5 vehicle loans, if you go to jail your problem!

[indoMLA]

Credit Rating system in the UAE? Hahahahahaa.
Are you European?
Are you white or light skinned?
Do you make enough money?

If yes to all those, then you got yourself a loan....

[OfftoSharjah]

Originally Posted by indoMLA

Credit Rating system in the UAE? Hahahahahaa.
Are you European?
Are you white or light skinned?
Do you make enough money?

If yes to all those, then you got yourself a loan....

Lol... About the last point though...

How much is enough?

[Kawasutra]

Originally Posted by OfftoSharjah

Lol... About the last point though...

How much is enough?

with 3000AED salary you can have a loan up to 100kAED, without being European!
That´s what I call trustworthy.....

All you have to do is sign a blank check and give to the bank!

[OfftoSharjah]

Wow!!! That's generous or should I say ... Dangerous!!!

[rsinner]

well, here it seems that after a signed security cheque they forget what a credit check is.
However, I think there is a central bank rule that the total debt service across loans and CCs cannot be more than 50% of the gross salary (google for this). Not sure if it actually gets used.