Most expats arriving in the UAE quickly learn about the necessity of a bank account and the requirements to secure a credit card. However, there is a common misconception that your credit history only matters to bankers.
In reality, the Etihad Credit Bureau (AECB) compiles data from numerous sources, including telecom companies, utility providers, and even courts. This creates a comprehensive profile of your financial responsibility, which is increasingly being accessed by various service providers across the country. Your AECB credit score is essentially your financial reputation, and a poor one can severely complicate everyday life in ways you might not expect.
Securing a tenancy agreement
Finding the right home is a top priority for newcomers, but simply offering the asking price might not be enough anymore. Landlords and property management firms, particularly in Dubai, are now routinely requesting AECB credit reports before approving lease applications.
They use this report to gauge the likelihood of you meeting your monthly or quarterly rent payments on time. A high score can offer a landlord peace of mind, suggesting you are a reliable tenant. Conversely, if your history is lacking, you might face outright rejection.
Alternatively, a landlord might demand that you pay the full annual rent in a single cheque or require a significantly higher security deposit. If you are struggling with moving costs due to a high deposit, checking our salary guide can help ensure your income aligns with current market expectations.
