Everything to know about Capitec credit card in South Africa

Capitec Bank is a South African retail bank known for its simplified and innovative banking approach. It offers a range of financial products and services, including savings accounts, loans, credit cards, and insurance, primarily targeting the middle to lower-income market segments. Let’s examine the Capitec credit card offerings available in South Africa, exploring the different card types and their unique features.

Initiation fee	R100
Monthly fee	R50
Interest-free days	55 days
Interest rates	11.75% – 22.25 %

Rates and fees of Capitec Credit Card

Requirements for Capitec credit card application.

Below are the documents required for the credit card application:

Original SA ID document
Latest salary slip
A bank statement showing your latest 3 consecutive salary deposits (only if the salary is not paid into your Capitec account)

Credit card eligibility criteria

To qualify for a credit card at Capitec make sure:

You are 18 years or older
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
You haven’t been handed over, sequestered or placed under debt review/administration

Benefits of using this credit card

Below are the benefits of using the credit card:

The credit card together with our app lets you access and manage all your banking
You can get up to 55 days interest-free
Earn the interest on a positive balance
Enables you to improve credit score
Gives you access to emergency cash when you need it – no need to apply for a loan
Enjoy cashless payments (zero fees worldwide at card machines, online and for telephone and mail orders)
No currency conversion fees for international payments
Free payment protection, lost card and travel insurance

How to earn interest on the credit card.

You can earn great interest per year on a positive balance if :

1. You choose credit (instead of debit), you have 55 days to pay for your purchase without paying any interest on it.

2. Pay your salary into your credit card account and settle your balance in fullThis means your positive balance (debit balance) stays high, earning you more interest

How to apply for a credit card at Capitec bank.

You can apply for the card using any of the following options:

Online or on via the app
Call on 0860 66 77 89
Visit a branch

Editor’s Remarks

The card provides a variety of advantages to its users, making it an excellent choice for shopping, travel, insurance coverage, and online purchases.

Frequently Asked Questions

Is Capitec card a credit card?

The Capitec Global One Card enables you to make cashless transactions at your convenience. The card comes with customized features and personalized interest rates to suit your needs. You can apply for this credit card if you are above the age of 18 and earn a monthly income of R3000.

Can a Capitec card be used internationally?

Yes, you can use your card wherever you see the Mastercard® sign. There are zero fees on purchase or currency conversion on international transactions or cash withdrawals

Can you draw money from a Capitec credit card?

Capitec Bank has agreements with some retailers like Shoprite, Spar, and Checkers, which enable you to withdraw your money for a small fee.

Is Capitec a debit or credit card?

Capitec offers credit, debit, and virtual cards to its customers. These cards come with different card limits, monthly service fees, and card offers and bonuses.