Credit cards have become an integral part of everyday life for many people in Qatar. With the right credit card, you can enjoy rewards, benefits, security, convenience, and flexibility in your spending. However, with so many credit cards available in Qatar, it can be overwhelming to find the best option for your specific needs.
In this article, we will discuss the key factors you should consider when choosing a credit card in Qatar. We will also recommend the top 10 best credit cards in Qatar for 2023 based on popular options available from major banks in Qatar.
Factors to Consider When Choosing a Credit Card in Qatar
Here are some key things to keep in mind when comparing credit cards in Qatar:
Rewards and Benefits
One of the main reasons people apply for credit cards is to enjoy rewards and additional benefits. Many credit cards in Qatar offer attractive rewards programs, such as cashback on purchases, air miles, complimentary airport lounge access, hotel stays, dining privileges, and more. Consider which rewards appeal most to your spending habits and lifestyle.
Fees and Charges
Pay attention to the annual and renewal fees, foreign transaction fees, cash advance fees, late payment fees, and any other charges associated with the card. Opt for a card with no or low fees. However, cards with high fees may be worthwhile if the rewards offset the costs.
Eligibility Criteria
Banks have eligibility criteria regarding minimum income, employment status, and age for credit card applicants. Make sure you meet the eligibility requirements before applying.
Credit Limit
Check the minimum and maximum credit limits offered on the card. The limit should align with your spending requirements. If the limit is too low, you may not get approval for large transactions.
Interest Rates
Compare the annual percentage rate (APR) and interest charges across cards. Lower interest rates can help save money on finance charges if you sometimes carry a balance.
Now that we’ve covered the key factors to consider, let’s look at the top 10 best credit cards available in Qatar for 2023:
10 Best Credit Cards in Qatar 2023
HSBC Premier World Elite Mastercard
The HSBC Premier World Elite Mastercard is one of the most premium credit cards in Qatar, offering a wide range of privileges.
Overview
- Rewards program: Point-based system
- Annual fee: QAR 2,699
- Eligibility: HSBC Premier customers with a minimum QAR 400,000 in deposits and investments
Benefits
- Earn 3 points per QAR 1 on purchases
- Airport lounge access
- Travel Insurance
- Golf privileges
- Dining and shopping discounts
- Complimentary valet service
- Concierge service
Fees
- No foreign transaction fee
- Low 3.67% APR on purchases and cash advances
Qatar National Bank Platinum Credit Card
QNB offers a feature-packed platinum credit card with strong rewards and benefits.
Overview
- Rewards program: Point-based system
- Annual fee: QAR 1,000
- Eligibility: QNB customers with a minimum monthly salary of QAR 10,000
Benefits
- Earn 2 points per QAR 7 spent on any purchase
- Redeem points for air miles, hotel stays, dining, cashback
- Complimentary airport lounge access
- Travel Insurance
- Discounts at merchants across Qatar
Fees
- No foreign transaction fee
- Competitive APR of 3.67% per month
Doha Bank Infinite Credit Card
The Doha Bank Infinite credit card is a premium card with luxury benefits.
Overview
- Rewards program: Point-based system
- Annual fee: QAR 2,500
- Eligibility: Doha Bank customers with a minimum monthly income of QAR 30,000
Benefits
- Earn 4 bonus points per QAR 1 spent locally and internationally
- Complimentary airport lounge access
- Travel Insurance
- Golf privileges
- Luxury hotel benefits
- Exclusive dining discounts
Fees
- No foreign transaction fee
- Low interest rate of 2.75% per month
Commercial Bank Qatar Protect Platinum Card
This platinum card by Commercial Bank focuses on providing protection and security.
Overview
- Rewards program: Point-based system
- Annual fee: QAR 1,000
- Eligibility: CBD customers with a minimum monthly salary of QAR 10,000
Benefits
- Earn up to 4 points per QAR 1 spent
- Comprehensive travel insurance
- Purchase protection for 120 days
- Extended warranty on purchases
- Protects against fraudulent transactions
Fees
- No foreign transaction fee
- Interest rate of 2.75% per month
American Express Qatar Airways Privilege Card
This credit card is ideal for frequent Qatar Airways travelers.
Overview
- Rewards program: Air miles
- Annual fee: QAR 1,250
- Eligibility: No specific eligibility criteria
Benefits
- Earn 1 Qmiles per QAR 1 spent
- 100,000 bonus Qmiles on first purchase
- Complimentary airport lounge access
- Travel Insurance
- Discounts on Qatar Duty-Free purchases
Fees
- No foreign transaction fees
- APR of 3.25% per month
Qatar Islamic Bank Platinum Credit Card
This Sharia-compliant credit card offers good rewards with no interest applied.
Overview
- Rewards program: Point-based system
- Annual fee: QAR 500
- Eligibility criteria: QIB customers with a minimum monthly salary of QAR 15,000
Benefits
- Earn up to 6% cash back on purchases
- 0% profit rate since it’s an Islamic card
- Purchase protection insurance
- Discounted valet parking and dining
Fees
- No foreign transaction fee
- No interest or profit rate charged
Al Khaliji Enjoy Credit Card
Al Khaliji’s Enjoy credit card focuses on entertainment and leisure benefits.
Overview
- Rewards program: Point-based system
- Annual fee: QAR 750
- Eligibility criteria: Al Khaliji customers with a minimum salary of QAR 5,000
Benefits
- Earn 2 bonus points per QAR 1 on entertainment
- Discounted cinema tickets
- Complimentary airport lounge access
- Travel Insurance
- Golf privileges
Fees
- No foreign transaction fee
- Interest rate of 2.75% per month
Doha Bank Visa Platinum Credit Card
This metal credit card by Doha Bank offers market-leading features.
Overview
- Rewards program: Point-based system
- Eligibility criteria: Doha Bank customers with a minimum salary of QAR 5,000
Benefits
- Earn up to 3 bonus points per QAR 1 spent
- Airport lounge access
- Travel Insurance
- Extended warranty on purchases
- Protects against fraudulent transactions
Fees
- No foreign transaction fee
- Low interest rate of 2.5% per month
CBQ Visa Infinite Credit Card
The Commercial Bank of Qatar Visa Infinite card provides premium travel benefits.
Overview
- Rewards program: Point-based system
- Annual fee: QAR 2,500
- Eligibility criteria: CBD account holders with a minimum salary of QAR 30,000
Benefits
- Earn up to 3 bonus points per QAR 1 on international spending
- Airport lounge access
- Travel Insurance
- Concierge services
- Discounted hotel bookings and car rentals
Fees
- No foreign transaction fees
- Interest rate of 2.75% per month
QNB First Credit Card
This flagship credit card by QNB offers strong everyday rewards and benefits.
Overview
- Rewards program: Point-based system
- Annual fee: QAR 1,000
- Eligibility criteria: QNB account holders with a minimum salary of QAR 7,000
Benefits
- Earn 2 bonus points per QAR 1 spent locally and internationally
- Redeem points for cashback or gift cards
- Purchase protection insurance
- Discounted valet parking and dining
Fees
- No foreign transaction fees
- Interest rate of 2.99% per month
Factors to Consider When Using a Credit Card in Qatar
Once you’ve chosen the best credit card in Qatar for your needs, make sure to use it responsibly to avoid fees and interest charges:
Pay Bills on Time
Missing credit card payment due dates can lead to hefty late fees and increased APR. Set payment reminders and automate payments to avoid delayed payments.
Avoid High-Interest Rates
If you regularly carry a balance on your card, the interest charges can really add up. Try to pay off your balance in full each month. Transfer high-interest balances to low-rate cards.
Maintain a Good Credit Score
Your payment history is a major factor affecting your credit score. Keep your credit utilization low and make timely payments to build a strong score.
Manage Credit Limits
Don’t max out your available credit. Keep your utilization below 30% of the limit. Request a higher limit if needed to keep the ratio low.
Conclusion
Finding the right credit card in Qatar requires comparing rewards programs, fees, interest rates, and eligibility criteria of different cards to choose the best fit for your lifestyle and spending needs. We recommend options like the HSBC Premier World Elite Mastercard, QNB Platinum Card, and Doha Bank Infinite Card for their strong rewards and benefits. Use your new credit card responsibly by paying on time, limiting credit utilization, and avoiding high-interest charges. This will help you maximize the benefits of using a credit card in Qatar.
FAQs
Q1: What is the best credit card for cashback in Qatar?
A1: The Qatar Islamic Bank Jinn Credit Card offers the highest cashback rate of up to 6% on purchases for a Sharia-compliant credit card in Qatar. The QNB First Credit Card also offers up to 2% cashback on transactions.
Q2: What is the easiest credit card to get approved for in Qatar?
A2: The QNB First Credit Card has relatively lower eligibility criteria, requiring only a minimum monthly salary of QAR 7,000. The Doha Bank Titanium Credit Card is another easily approved option with a minimum salary requirement of QAR 10,000 monthly.
Q3: How can I improve my credit score in Qatar?
A3: Pay all credit card bills on time, maintain low credit utilization under 30%, apply for new credit only when needed, check your credit report regularly, and build long-standing accounts to improve your Qatar credit score.
Q4: Is there an annual fee for credit cards in Qatar?
A4: Most credit cards in Qatar charge annual fees, usually ranging from QAR 500 to QAR 2,500. However, a few cards like the Doha Bank Titanium Credit Card offer fee-free variants as well.
Q5: Can expats apply for credit cards in Qatar?
A5: Yes, expats living and working in Qatar are eligible to apply for credit cards, provided they meet the minimum monthly income criteria set by each bank. Popular options for expats include cards from HSBC, Commercial Bank, and Doha Bank.
Faizan Ahmad is a financial analyst and writer who specializes in investments, banking, and corporate finance. He has over 7 years of experience working in the finance industry in various roles.
He leverages his strong financial modeling and data analysis skills to provide insightful commentary on business, markets, and economic trends.
At Ventures Money, Faizan covers topics including Credit Card Reviews, Loans, Insurance, and Mutual Funds in the banking sector. He provides in-depth analysis of the latest news and trends to help readers make smart investment decisions.
Outside of writing, Faizan enjoys following the stock market, rooting for his favorite sports teams, and spending time with his family.