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A Comprehensive Look at African Bank Credit Card

A Comprehensive Look at African Bank Credit Card

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The African Bank credit card stands out as a sleek black card offering a credit limit of up to R250,000.00, tailor-made for individuals aged 18 and above. With a monthly account fee of R55.00 and a one-time initiation fee of R120.00, this credit card provides a gateway to financial empowerment.

Credit Card Benefits
Select the best benefit for your card:
NO CREDIT CHECK
ZERO ANNUAL FEE
INSTANT CREDIT
IMMEDIATE APPROVAL
As featured on LoanZoom.co.za

Key Features

  1. Interest and Grace Period
    • Positive balances earn up to 3% interest.
    • Enjoy up to 62 days of interest-free credit on purchases when settling the outstanding balance in full by the due date.
  2. African Bank App Benefits
    • Free use of the African Bank App.
    • Set and customize credit card limits effortlessly through the app.
  3. Credit Card Limit Adjustments
    • ATM limit: Minimum R4,000.00 to maximum R10,000.00.
    • Point of Sale limit: Maximum R100,000.00.
    • CNP limit: Minimum R10,000.00 to maximum R50,000.00.
  4. Additional Benefits
    • Free SMS updates for every transaction.
    • Instant issuance of a personalized, embossed Credit Card at any African Bank Branch upon application approval.
    • Global acceptance at thousands of merchants.
    • Credit Life Insurance for peace of mind.
    • Free local POS purchases.
  5. Fees Overview
    • Monthly Service Fee: R55.00
    • Card Replacement Fee: R125.00
    • Initiation Fee: R120.00
    • Various transactional fees (e.g., ATM withdrawals, international purchases).
  6. Competitive Advantages:
    • Up to 62 days of interest-free credit on POS purchases.
    • Free access to African Bank digital channels (App and online banking).
    • Access to your credit score at no cost.
    • Competitive interest rates on positive balances.
    • Secure online shopping.
    • Instant card issuance for immediate use.
  7. Competitive Disadvantages:
    • No rewards program.
    • No travel benefits, such as airfare or hotel discounts.

How to Obtain the African Bank Credit Card

  1. Age Requirement: 18 years or older.
  2. Provide the latest bank statement reflecting three salary deposits.
  3. Submit proof of income to support the application.

Conclusion

The African Bank Credit Card proves ideal for those seeking to enhance their financial prowess without straining their monthly budget. Approval is based on individual affordability, coupled with low maintenance fees and reasonable transaction costs. This ensures smoother monthly repayments and contributes to building a healthier credit score.