Human always prefer the luxury life it is in nature of human he work day and night just only because he want to satisfied his basic need and fulfill its self Esteem and once he satisfied his basic need the move to luxury. UAE especially Dubai is place of Dream Many People Came in Dubai to change their life many succeed in this goal but some get Fail and today we discuss one of biggest Reason which force a person to live the Dubai and leads him to Failure and its effect on Etihad Credit Bureau.
Credit Card is most sensitive product to Handle it comes with many features but if you fail to pay the Minimum Due Payment then things get worse we will try to understand what happen if you fail to pay the due amount in Steps.
This is beginning once you start late payment your profile goes to 1st Bucket and a red mark shows in your Etihad Credit Bureau but if you pay the due Amount with Late Payment because in 1st Bucket there is no harm and your profile is still safe and you can apply to any bank many people forget to pay the credit card bill because they are new and don’t know how to handle the product you have 45 days to pay your bill if you want to understand bill cycle of Credit Card you can visit leopardmoney Credit Card page.
An Alarming Situation will start if your profile moves to 2nd bucket if you don’t pay for three month bill then your Credit Score will Decline rapidly and now you are not Eligible for any bank product if you apply to any bank your profile is straight away get Rejected because now all the bank is link with Eithad which is department keep record of all your Financial Report and every bank send monthly Report to Eithad in 2nd bucket your case refer to collection Department and you will start receiving lots of calls they will request you pay the bill or sometime threat you that they will file a case against you.
You are in Trouble if your profile move to 3rd Bucket now you are black listed and collection Department let suppose you take a Credit Card from Dunia Finance and not pay for many months they file a case against you and present your cheaque to Court and you will receive a call from Police Station to report in Court and now it’s time to face the judicial Matters.
So Credit Card use makes many people life easy but also worst if they fail to handle this product and many people leave the country because they are not able to face the judicial process so if you take any financial Product thing twice before using it negative.