In today’s guide, we will show you how Absa credit card works in South Africa.
An Absa credit card allows you to pay for goods and services even when your account has insufficient cash.
We will begin by showing you the basic requirements to obtain an Absa credit card in South Africa.
Requirements to qualify for Absa credit card in South Africa
Here are the main things that are required for you to qualify for an Absa credit card in South Africa:
- You have to be above 18 years to qualify for an Absa credit card in RSA
- Have a good credit score
- Earn a minimum of R24 000 in a year
- You need to have proof of salary or student allowances
What Is The Interest Rate Of Absa Credit Card In South Africa?
The Absa credit card gives you up to 57 interest-free days on purchases.
The interest cut excludes withdrawals, online transfers, gambling transactions, fuel purchases, and budget plans.
The Absa credit card in South Africa has a monthly fee starting from R7.00.
The interest rate for Absa credit card is 18% per annum.
This is the basic interest rates for Absa credit cards in South Africa.
Now we will show you the various credit card lending categories in South Africa.
Absa Everyday Use Credit Cards
The Flexi core is made for people with no credit score as it is easy to build a credit score with this card.
The gold credit card has relaxed standards, and there is no private banker or financial counseling required.
The everyday use credit cards have fixed monthly payments that ensure you pay more of your capital debt monthly.
Exclusive Credit Cards
This is the second Absa credit card category in South Africa.
If you are a dedicated private banker, consider getting the exclusive credit card.
The premium and private banking credit cards give you access to private financial counseling anytime you need help to manage your financial affairs.
Credit Card For Student
Absa bank of South Africa has also designed credit cards for students in South Africa.
This credit card has a minimum annual income requirement of R800.
Absa student credit card has no monthly service fees or facility fees.
A student credit card is accepted worldwide.
This is all you need to know about Absa credit card works in South Africa.