What is Credit Card?
A credit card is a payment card issued to users to enable the cardholder to pay a merchant for goods and services based on the cardholder’s accrued debt.
Best Credit Card In South Africa
Standard Bank Gold Credit Card
ABSA Gold Credit Card
FNB Premier Credit Card
Nedbank Platinum Credit Card
Capitec Global One Credit Card
Discovery Bank Gold Credit Card
Virgin Money Credit Card
TymeBank Credit Card
Investec Private Bank Account Credit Card
RMB Private Bank Credit Card
African Bank Gold Credit Card
Bidvest Bank World Currency Card
Old Mutual Money Account Credit Card
Ubank Credit Card
How to choose a credit card in South Africa?
When choosing a credit card, you should consider the rewards program, fees, interest rates, credit limit, and any additional benefits such as insurance or travel perks.
You should also ensure that you can afford to make the required monthly payments and that the credit card aligns with your financial goals.
Which credit card is the most used in South Africa?
As of 2022, the share of South African card holders with Visa was 51 percent, with its major competitor MasterCard being slightly behind at 47 percent.
How do you qualify for a credit card in South Africa?
Monthly income required: R2 000.
Age: 18 years or older.
Documentation required: Valid South African ID book or Smart card, proof of residence, and the latest proof of income for three consecutive months.
Subject to an affordability assessment.
How much do you need to earn to qualify for a credit card in South Africa?
You are permanently employed, self-employed, earn other income or earn a pension.
The minimum income requirement for a credit card application is R5 000, and R10 000 for self-employed clients.