Regarding Credit Shield
Just want to ask others who knows what's the use of this credit shield, actually my sister have a problem regarding her credit card in UAE. She is with me now here in Doha by visit visa and haven't paid it for almost 4 months already since she is just looking for a job. Is it true that if you cannot pay credit card and every month you are deducted by this credit shield before, insurance will be the one to pay?Please advice us.
Go through the below link to know more about Credit Sheild. This is what Commercial Bank is offering.
http://www.cbq.com.qa/Personal.aspx?id=111
It is a type of insurance, check with the bank, here doha bank also have the same
Your concept of crefit shield is wrong ...
there are certain clauses to credit shield in UAE
In case of any job loss or forced termination the customer should visit the collections departments and apply for the credit shield. It does not automatically cover you . Also it is their decision to pay or not to pay there are a lot of clauses for the same Insurance companies are a bunch of tools. Credit shield wont be paying anything and if she has been delayed in any of her payments till date her credit shield becomes Void . which means even if credit shield is applied to your credit card u need to pay but not as much as before may be 10% of the amount . 1 non payment would cancell the service.