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We know that personal loans in South Africa are gaining increasing prominence, but it’s not just them that are becoming popular; credit cards are also gaining more prominence in the market. And they are not only offered by banks but also by lenders.
In this way, we will show here the best cards that are offered in South Africa for those of you who are thinking of applying for a card now. Here, we will have cards with various benefits for their customers, so all you need to do is choose the one that best suits what you need at the moment.
Best Credit Cards in South Africa
Here, we will provide a list for you, along with some information about each card and its benefits, so you can choose the one that suits your preferences.
Woolworths Gold Credit Card
The Woolworths Gold Credit Card offers the benefit of 2% cashback in Woolworths vouchers for its customers. Additionally, it provides travel insurance and card insurance.
However, it does require a minimum monthly income of R 3.000 and has an initial fee of R 165, as well as an annual fee of R 50,50. So, if you are looking for a card with no annual fee, this may not be the best choice for you.
The ABSA Student Credit Card
The ABSA Student Credit Card is designed for students who want to establish a good relationship with the financial market. It does not charge an annual fee and has no initial fees. The minimum income requirement to apply for this card is R 800, making it accessible to those with lower incomes who wish to start their financial journey.
Furthermore, it offers the benefit of being accepted worldwide. So, if you already have a trip planned or are considering one, you know you can use it. It also includes basic travel insurance, enhancing your travel experience with added security.
Capitec Credit Card
The Capitec credit card is one that will have a personalized limit based on the credit analysis that will be conducted, ensuring that it provides what is suitable for you. However, it requires a minimum income of R 3,000 and has an annual fee of R 35, in addition to an initial fee of R 100.
However, it comes with its benefits, such as basic travel insurance, a high possibility of a credit limit, no currency conversion fees for international purchases, and enhanced security for online shopping.
FNB Black Credit Card
FNB not only offers credit cards but also loans, but today, we won’t be discussing the latter. The FNB Black Credit Card requires a minimum income of R 84,000, an annual fee of R 38, and an initial fee of R 175. Therefore, it is not a valid option for those who do not want to pay an annual fee, and it also demands a high income threshold for application.
However, it comes with advantages such as roadside emergency assistance and contactless payment technology. The card’s interest rates are customized based on your lifestyle.
American Express Platinum Credit Card
The American Express Platinum Credit Card is also a card that comes with fees, with an annual fee of R 99 and an initial fee of R 189.65. It also has a relatively high minimum income requirement of R 16,667. However, it is an excellent choice for travelers.
Its benefits include basic travel insurance worth up to R 4 million, access to the airport lounge, and the option to request an additional card for free, allowing your family and friends to use it as well.
Other Cards to Consider
In addition to the cards mentioned earlier, you may also consider other options. Here, we’ll list them separately, indicating which ones have an annual fee and which ones do not, so you can decide which of these options suits you best.
