South Africans are increasingly using their credit cards for both online and in-person transactions. the question is, which credit card is best for you?
Every credit card has its own terms and conditions, but there are some general guidelines to help you make the right choice.
Firstly you need to check if your current bank or store offers reward points or cash back. This will be the main factor that determines whether this card is good for you or not.
Some store cards offer special discounts when buying certain items, while others offer more on-the-spot benefits like late payment fees waived.
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Credit cards, of course, charge interest rates so it’s important to know what these are before choosing one of them. For example, if you want a low interest rate but don’t care about cash back
You should be able to answer the following questions regarding the best credit cards in South Africa at the end of this post.
- How to choose the best credit card in South Africa?
- Which credit card is right for me?
- What are the benefits of having a Visa or MasterCard?
- What are the best credit cards in South Africa?
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11 Best Credit Cards in South Africa 2021
1. Capitec Global One Credit Card
The Capitec Global One Credit Card is a Visa card with no international fees and an up to 3.5% cashback on all purchases, online or offline.
The card has a number of other features that make it the best credit card for anyone travelling overseas, but also for those who might not be able to provide a deposit.
Capitec Global One Credit Card is the only credit card with no annual fee.
- Monthly fee: R40
- Min monthly income required: R5,000 per month
- Credit limit: Up to R250,000
- Annual interest rate (APR): 7.00% – 17.50% depending on your credit history.
- View balance and transactions on the App (available for Android and iOS)
- Real time notification when your credit card balance runs low
- Real time notification when you spend over your limit
2. FNB Gold Credit Card
The FNB Gold Credit Card allows the user to make purchases while also gaining access to a variety of perks such as debt protection, travel insurance, and more.
This credit card is one of the greatest alternatives accessible in South Africa among the countless other credit cards.
You will get charged an initiation fee of R175 and the monthly fee is from R89. To qualify for an FNB Gold Credit card you need to be 18 years or older and earn between R120 000 AND 340 000 annually.
The Benefits of having FNB Gold Credit Card includes
- 8% fixed interest rate
- R4.95 monthly fee
- Unlimited free swipes and can withdraw cash from selected supermarkets
- Free Cellphone banking subscriptions
- Online banking
- Mobile banking
- FNB Banking App
- Higher credit limit between R10 000 and R60 000
- 55 days interest-free
- Double ebucks on purchases
- 15% back in ebucks when one purchases at Shoprite/Checkers
- 15% back in ebucks when one purchases prepaid electricity or airtime through FNB
- Free Global Travel Insurance
- 15% back in ebucks when one fills up with fuel at any filling station or when using Uber domestically
- Double ebucks when shopping online
3. Standard Bank Gold Credit
This is another favourable option for people who have a middle to low income. There is a monthly salary requirement of 5 000 ZAR and the credit limit granted is 250 000 ZAR, with a monthly fee of 54 ZAR.
When using this credit card, the user has personalised interest rates and access to flight discounts with Emirates for up to 35%.
Having this credit card entitles you to Automatic travel insurance, Credit card protection plan and Various lifestyle advantages such as 4 Ster-Kinekor movie tickets, 1GB AlwaysOn Wi-Fi for a once-off fee of 19 ZAR, and up to 11GB free.
Food and lifestyle offer on the MasterCard and UCount Rewards points every time the credit card is used. You can also enjoy Credit card protection, High credit limit and low monthly fee.
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4. Nedbank Gold Credit Card
For your minimal transactions, the Nedbank Gold Account is the way to go. One may get a Savvy Plus Account with the option to add more benefits when you need them.
To qualify, you need to be 18 years or older and earn a monthly income of R3000 not from a trust, company, or legal entity.
The Benefits includes:
- A Gold cheque card
- Unlimited card swipes
- Unlimited stop/ debit orders
- Unlimited cash withdrawals at point-of-sale devices at participating retailers
- eNotes (SMS notifications).
- The option of an overdraft facility
- Quick and secure access to Send -imali
5. ABSA Private Banking Credit Card
The ABSA Private Banking Credit Card is a credit card that provides you with the best of both worlds.
The card offers a very attractive balance transfer rate and a rewards programme that allows you to earn up to 2% cashback on your credit card expenditure.
It also offers a competitive interest rate, which makes it ideal for those who have an existing debt burden and want to reduce their repayments.
The ABSA Private Banking Credit Card lets you choose between three different types of rewards:
- Monthly fee: R80
- Min monthly income required: R62,500 per month
- Credit limit: Up to R228,000
- Annual interest rate (APR): Personalised
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- Interest-free if you pay back your balance within 57 days.
- Around R10 million travel insurance cover for international journeys.
- Visa airport dining.
- You get unlimited free visits to any Bivest lounge in South Africa. You also get two free visits for your guest per year. On top of that, you also get 6 free international lounge visits.
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6. Standard Bank Titanium Credit Card
Standard Bank, a leading financial institution in South Africa, have just launched their new Titanium Credit Card.
The card is designed to offer the best of the best with no hidden charges, zero annual fee for the first year, and an incredible reward scheme.
The card is also equipped with enhanced security features to protect the customer’s credit card security with Mastercard 3D-Secure technology.
With one Standard Bank Titanium Credit Card, customers can enjoy exclusive access to private lounges at SA international airports, free WiFi on board aircraft operated by SAA, discounts on hotels using the Hilton HHonors loyalty programme and more.
7. ABSA Premium Banking Credit Card
The ABSA Premium Banking Credit Card is a credit card that offers customers the best rewards and benefits available in the market. It is one of the most reputable cards in South Africa and has been around for many years.
The card’s benefits include:
- If you spend R10,000 or more on your ABSA Premium Banking Credit Card you can an extra 15% off your purchase at Woolworths Group stores.
- Earn up to 3% cashback on fuel purchases at participating Caltex stations during this offer period and earn 1% cashback on all other eligible purchases.
- 0% interest rate on balance transfers for 12 months with no transfer fee applied.
- 0% interest rate on purchases for 12 months.
8. ABSA Flexi Core Credit Card
The ABSA Flexi Core Credit Card is a new credit card from ABSA designed to be used as your everyday, general purpose credit card.
The Flexi Core Credit Card gives you the ability to purchase goods and services with a balance transfer facility that allows you to pay off the card’s balance in instalments. You also get a 50% discount on your purchase of an extra supplementary card.
The Flexi Core Credit Card doesn’t charge any interest for purchases and cash withdrawals made on international transactions (Mastercard’s Zero Rate Program).
Plus, if you make more than 12 monthly payments of R3,000 or more, you will earn an annual fee waiver for the first year dedicated to new customers only.
9. Nedbank Platinum Credit Card
NedBank Platinum Credit Card is a credit card that is valid in the following countries: South Africa, Namibia, Botswana, Lesotho and Zimbabwe.
It is a MasterCard product, which means that it can be used in more than 210 countries around the world.
There are different offers available for this card, for example:
The Nedbank Platinum Credit Card has an annual fee of R200.The card comes with an introductory period of 6 months after which interest rates will apply at 18% (or 10% depending on your credit rating) p.a.
Nedbank Platinum Credit Card has a number of benefits for cardholders.
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The card will give you the following:
- A welcome bonus of 20,000 points when you spend R5000 on your card in the first three months.
- A platinum travel credit-card insurance plan, with a complimentary insurance for up to R500 000 as well as additional cover for baggage and personal effects.
- In addition to that, the card is internet and overseas transaction fee free.
- You will also get unlimited access to Nedbank’s award winning customer service team and features such as mobile banking and eBanking.
10. ABSA Gold Credit Card
The ABSA Gold Credit Card is a credit card that was launched in the year 1991. The card offers a range of benefits and services to its holders.
These include savings, travel insurance, car hire insurance and a breakdown package that comes with the card.
The ABSA Gold Credit Card is a great addition to your credit portfolio if you want to save on interest rates when financing large purchases.
It has an introductory annual fee of R199 for the first year only, which is waived in subsequent years.
It also offers discounts at all major stores including Woolworths, Edgars and many more! In addition to this it also entitles its holders to access Cape Town International Convention Centre (CTICC) which is located at CTICC North Wharf in Cape Town.
11. ABSA Student Credit Card
ABSA Student Credit Card is a great way for students to manage their money and build credit history and their credit score.
Students often have difficulty in managing their money and building credit history. ABSA Student Credit Card addresses these issues by providing a card that is specifically designed for students and offers the benefits of a regular credit card, but at a lower interest rate.
Anyone with a minimum monthly income or allowance of R800, a valid South African ID book, or a smart card evidence of residency can apply for an Absa student credit card. Students can also obtain credit cards.
You will have access to Digital Banking, Travel Insurance, Free Lost Card Protection, ABSA Rewards, Exclusive Visa perks, and No Transaction Fees on Purchases using this card.
12. African Bank Gold Credit Card
The African Bank Gold Credit Card is a credit card issued by the African Bank. The card is designed to give customers in South Africa and in the diaspora, access to a number of services like: cash withdrawals and advances in foreign exchange at any bank in South Africa;
There is also the option of getting a personal cheque book for your account.
The African Bank Gold Credit Card is an alternative to the traditional bank cards. It offers a range of benefits such as monthly limit, balance limit and interest rates.
The card is free to get and there are no monthly fees or annual charges. This is because it does not come with rewards, so it’s not worth paying for a credit card that offers a point system when you can simply use your debit card that has an unlimited balance for transactions.
It also offers a zero liability promise which means that if someone uses your account without your authorisation then you won’t be liable for any additional costs incurred by this misuse. The African Bank Gold Credit Card offers a range of interest rates from 11%