An Emirates 24/7 survey has revealed that 35% of citizens polled don’t use credit cards.
Increasingly, it seems, UAE residents believe that cash is preferable to cards and electronic payments.
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The study showed that residents believed credit cards increase the urge to spend excessively in a "shopaholic" and "upgrade" environment, where cash reduces these urges.
"I use my credit card but only for the fixed and big purchases like online airline tickets, car insurance premium and a few other things.
"I don’t use it at the grocery store or in the mall. This helps me manage my finances better," wrote a Dubai resident.
These beliefs were held despite the fact that the majority of people polled owned a credit card themselves.
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By GlobalData35% of people polled said they don’t use plastic to make purchases online or in real time because of fears about fees for late payments.
The average percentage interest charged on credit cards in the UAE stands at 37.75%
The poll also found that 38% use two or more cards and 27% of people use only one.
