Applying for Credit Cards
Applying for a credit card is something you need to do once you have accessed your budget and decided how you’ll be making use of the credit card.
This will help you figure out where to apply for credit cards.
Decide what type of credit card you need first
If you’ll be using the credit card for emergencies mainly or if you’ll be using it regularly for shopping, you may want to consider getting a credit card with a great rewards programme.
Decide if you need a credit card for personal or business use
This will help you figure out which will be the best place for you to apply for credit cards.
Work out if you can afford repayments
Know your credit score before applying
Types of credit cards you can get:
The major banks in South Africa offer a variety of credit cards. There are also a number of other financial institutions that offer various credit cards.
First National Bank (FNB) offers a Gold, Classic or Platinum credit card.
From Nedbank you can get a Platinum, Gold, or Greenbacks Gold credit card.
Absa offers a Platinum, Transact or Gold credit card.
African Bank has a Silver or Gold credit card.
American Express offers a Blue, Gold or Platinum credit card.
Standard Bank has a Gold, Blue, Titanium or Platinum credit card.
Discovery offers a Gold, Platinum or Blue credit card.
Woolworths offers a Gold, Silver or Black credit card.
Benefits you may get from various credit cards:
- Airport lounge access
- Concierge service
- Free unlimited swipes
- Free lost card protection
- Cash Rewards
- Budget facility
- Interest free credit (up to 60 days in some instances)
- Free SMS notifications
To qualify for credit cards in South Africa, you generally need to:
- Earn above a certain threshold
- Afford to pay a monthly account fee
- Provide a valid ID
- Be permanently employed