# Age requirement for credit



## mattmurphy511 (Apr 11, 2015)

Hello,

I will be moving out to Dubai in 3 weeks, im in a bit of a unique situation. I have been offered a job as a trainee financial advisor but im only 20 years old.

I know the drinking age is 21 (bit of a bummer but im over it) I cant seem to find any information on obtaining credit.

Of course its not the end of the world but i am used to using a credit card in the UK and am aware of the risks in the UAE.

But my question is does anyone know if there is a minimum age requirement to get any forms or credit in Dubai?

Thanks


----------



## Stevesolar (Dec 21, 2012)

Hi,
Welcome to the forum.
I dont think age will be the limiting factor in your case.
In order to get a credit card, the banks require you to provide a salary certificate from your company that confirms your salary along with the fact that you are a confirmed (not still on probation) employee.
As a trainee financial advisor - i dont see you getting the above easily from your employer and i dont see you actually earning enough money in the first year to actually qualify for a credit card.
Most people coming here in your profession, need to bring a fair amount of cash with them to support them until they start to earn real money (if they ever do).
Many spend all their savings, dont get paid salary or commissions and then quietly leave the country with tails between their legs and go back to home countries with no money and no job to go back to.
The above may sound a bit harsh - but i have seen this happen to a fair few people here.
In the above situation - the last thing you actually need is a UAE credit card debt (that could get you imprisoned here, if you were unable to service the debt whilst in the UAE).
Best of luck
Steve


----------



## mattmurphy511 (Apr 11, 2015)

Hi Steve,

Thanks for the swift reply. I'm on a 84,000 DH salary plus commision so I don't think from what I've read that will be the issue. Bur i didn't consider the fact i have a 3 month probation period.

Maybe something i look at further down the line then.

Thanks for the information though.

Matt


----------



## mattmurphy511 (Apr 11, 2015)

Hello,

Just to clarify i assume the points Steve raised apply to all forms of credit; loans, cards overdraft etc.

Thanks,
Matt


----------



## Stevesolar (Dec 21, 2012)

Hi,
Actually there is another layer that is also imoortant when applying for any sort of credit or bank account in the UAE.
That is whether your employer is known as a "listed" company. These are the more established, profitable and well known companies & organisations in the UAE.
If you are fortunate to work for a "listed" company, then it is easier and cheaper to open bank accounts and to get loans etc.
To know whether you are joining such a company simply phone a UAE bank on the pretext of opening an account and they will let you know.
Cheers
Steve


----------



## webmongaz (Feb 2, 2011)

What company are you coming to work for?


----------



## mattmurphy511 (Apr 11, 2015)

Its The One Group

Cheers,
Matt


----------



## The Rascal (Aug 6, 2014)

Ah yes, the one group, set up by that incredibly ethical guy, Jason Noble - who is anything but that.

Good luck.


----------



## T'challa_Udaku (Nov 14, 2014)

I have heard a lot about this jason noble fella. Seems like a likeable chap


----------



## mattmurphy511 (Apr 11, 2015)

Hey I'm not in sales for that warm fuzzy feeling at the end of each week.


----------



## The Rascal (Aug 6, 2014)

mattmurphy511 said:


> Hey I'm not in sales for that warm fuzzy feeling at the end of each week.


So you're in sales to rip off people and line your own pockets?

Well at least you admit it i guess.

Not very happy consumer website

Anyone who worked for DeVere Group AND Globaleye and now sells African Land?

Hey it must be true.

But in this region, the phrase "I don't trust you but I'm more greedy than cautious", is so accurate.

It's also very telling that you want credit before you even get here.


----------



## Fat Bhoy Tim (Feb 28, 2013)

I have a friend who works for The One but no I won't tell you whom. The One are perhaps slightly less dodgy than the rest, but not much less dodgy. At least you were polite enough to register with your name, so I know to avoid your sales pitch.


----------



## The Rascal (Aug 6, 2014)

Fat Bhoy Tim said:


> I have a friend who works for The One but no I won't tell you whom. The One are perhaps slightly less dodgy than the rest, but not much less dodgy. At least you were polite enough to register with your name, so I know to avoid your sales pitch.


Slightly dodgy is a bit like being slightly pregnant. You're still pregnant!

For these bottom feeders to survive there must be an awful lot of thick expats out here.


----------



## TallyHo (Aug 21, 2011)

7K a month plus commission.

Well, well, well. I give you three months before you're on the plane back home.





mattmurphy511 said:


> Hi Steve,
> 
> Thanks for the swift reply. I'm on a 84,000 DH salary plus commision so I don't think from what I've read that will be the issue. Bur i didn't consider the fact i have a 3 month probation period.
> 
> ...


----------



## Stevesolar (Dec 21, 2012)

TallyHo said:


> 7K a month plus commission.
> 
> Well, well, well. I give you three months before you're on the plane back home.


Hi,
Possibly even quicker - depending on how much money he brings with him (and how many visits to nightclubs!)
Cheers
Steve


----------



## The Rascal (Aug 6, 2014)

Stevesolar said:


> Hi,
> Possibly even quicker - depending on how much money he brings with him (and how many visits to nightclubs!)
> Cheers
> Steve


Hence the reason for needing credit cards etc. on day one.


----------



## TallyHo (Aug 21, 2011)

Three was too optimistic.

One month? 

A flatshare for 4K (if he can find it), a car hire for 2K and that's 1K for....everything else.

:juggle:

How long till the balls come crashing down?



Stevesolar said:


> Hi,
> Possibly even quicker - depending on how much money he brings with him (and how many visits to nightclubs!)
> Cheers
> Steve


----------



## Fat Bhoy Tim (Feb 28, 2013)

The Rascal said:


> For these bottom feeders to survive there must be an awful lot of thick expats out here.


If you need an answer to that, perhaps you're one of them :boxing:


----------



## The Rascal (Aug 6, 2014)

Fat Bhoy Tim said:


> If you need an answer to that, perhaps you're one of them :boxing:


It wasn't a question, it was a statement, hence no answer required... :boxing: :boxing: :boxing:


----------



## mattmurphy511 (Apr 11, 2015)

I really appreciate your concern. I asked a question about finance in Dubai, I did not ask for your opinion on the company I work for.

Ill be sure to get in touch in August so you can all check if i'm still in Dubai.

In the UK traffic wardens also work on commission, I doubt that they live to give tickets but it does in fact pay the bills. At the ripe old age of 20 I've been given an opportunity that you probably wouldn't have dreamed about in your youth. 

But I do feel we're all a bit off topic. Isn't that against some forum rules?


----------



## Mr Rossi (May 16, 2009)

There are people in life who make things happen and those that wish things would happen while life passes them by. Haterz gonna hate.


----------



## The Rascal (Aug 6, 2014)

You do realise that there will be next to no business done in July and August don't you? That will spread into June of course as Ramadan starts on the 18th, so the whole country is in holiday mood from beginning of June anyway.

Working on commission isn't a problem, we all are in some ways, and me, I'm on 100% commission, if my company doesn't earn I don't eat.



> At the ripe old age of 20 I've been given an opportunity that you probably wouldn't have dreamed about in your youth.


^^^ Incredibly condescending statement, should we put it down to the exuberance of youth?^^^


----------



## JonGard (Aug 18, 2013)

mattmurphy511 said:


> Hey I'm not in sales for that warm fuzzy feeling at the end of each week.


Oh dear.


----------



## mattmurphy511 (Apr 11, 2015)

If you're 100% commission how do you survive Ramadan?

With 85% of people in Dubai being expats I'm sure there are some people still doing business. Otherwise wouldn't Dubai become a seasonal work place?


----------



## The Rascal (Aug 6, 2014)

mattmurphy511 said:


> If you're 100% commission how do you survive Ramadan?
> 
> With 85% of people in Dubai being expats I'm sure there are some people still doing business. Otherwise wouldn't Dubai become a seasonal work place?


It's called cashflow....


----------



## TallyHo (Aug 21, 2011)

When I was 20 years old I was in university and a damn good one at that.

I knew the future was full of opportunities and that it would be up to me to seize them. But I also knew that due diligence before doing anything is a requisite for having a successful life. 

Have you done your due diligence about moving to Dubai on 7K a month? On your employer? The turnover of staff in the firm? The frequency of commissions? What sales volumes do you need to achieve to earn another 7K a month in commission, as you'd need 14K just to survive decently in a flatshare and not be sweating bullets by the end of each month because the rent is due and there's .00 fils in your bank account? Have you done any due diligence in Dubai?

Have you also done your due diligence on the risks of moving to Dubai at age 20 instead of building up proper qualifications with a proper advisory firm in the UK? Working towards proper qualifications? The kind of slow, patient steps you take when you're 20 so that when you're 30 you can be living in a nice apartment and driving a nice car in Dubai, totally debt free? 

I doubt it. 



mattmurphy511 said:


> I really appreciate your concern. I asked a question about finance in Dubai, I did not ask for your opinion on the company I work for.
> 
> Ill be sure to get in touch in August so you can all check if i'm still in Dubai.
> 
> ...


----------



## Fat Bhoy Tim (Feb 28, 2013)

When I was 20 I'd just returned to the UK for uni. I needed a break from this place, spending all your teenage years here was a bit much :yawn:


----------



## BedouGirl (Sep 15, 2011)

Stevesolar said:


> Hi, Possibly even quicker - depending on how much money he brings with him (and how many visits to nightclubs!) Cheers Steve


 But he can't drink till he's 21 can he?


----------



## Stevesolar (Dec 21, 2012)

BedouGirl said:


> But he can't drink till he's 21 can he?


Dont worry - the shiny suit will blind the doormen into letting him in!


----------



## TallyHo (Aug 21, 2011)

You seem like a decent fellow.

But after watching/hearing too many expat teenagers here there's no way I'd raise teenagers in Dubai. I'm sure you have many a wild story to tell us  

It isn't that kids can't get up to ****e in the UK but the parents here are too much in denial, thinking it's such a safe and drug free place. But ask them about sneaking dokha in closed cars, the parties in abandoned villas, they go quiet. 



Fat Bhoy Tim said:


> When I was 20 I'd just returned to the UK for uni. I needed a break from this place, spending all your teenage years here was a bit much :yawn:


----------



## BedouGirl (Sep 15, 2011)

Stevesolar said:


> Dont worry - the shiny suit will blind the doormen into letting him in!


Oh, you mean boy!


----------



## Fat Bhoy Tim (Feb 28, 2013)

TallyHo said:


> You seem like a decent fellow.
> 
> But after watching/hearing too many expat teenagers here there's no way I'd raise teenagers in Dubai. I'm sure you have many a wild story to tell us
> 
> It isn't that kids can't get up to ****e in the UK but the parents here are too much in denial, thinking it's such a safe and drug free place. But ask them about sneaking dokha in closed cars, the parties in abandoned villas, they go quiet.


I grew up in Abu Dhabi :noidea:


----------



## clarkr (Aug 12, 2014)

*Status update?*



mattmurphy511 said:


> Ill be sure to get in touch in August so you can all check if i'm still in Dubai.


Any update Matt, how's the One Group treating you? Got your credit card?


----------



## The Rascal (Aug 6, 2014)

clarkr said:


> Any update Matt, how's the One Group treating you? Got your credit card?


Guess it can't have gone that well at the One, as he's now working for DevEre (now known as Acuma).

According to his LinkedIn anyway, weirdly enough The One Group isn't mentioned although there is a telling 2 month gap....


----------



## The Rascal (Aug 6, 2014)

Just to add, looks like Nigel Green (who runs/ran DeVere) is selling up, having been stripped of his license in Hong Kong and put on the Thailand Securities Exchange Commission investor alert.

How anyone can work for such an allegedly dishonest organisation is beyond me.

Source

Great comment at the bottom btw.


----------



## BedouGirl (Sep 15, 2011)

Oh I'd forgotten this thread hahaha!


----------

