Are you interested to learn about the Absa black credit card in South Africa? Then check out this guide.
We will first briefly explain what a black credit card is.
What Is A Black Credit Card
This card is designed for high earners and those who enjoy investing, traveling, and banking in elegance.
The name is generated from the color of the card.
Most cardholders are usually business owners and C-suite-level executives.
Now that you understand what a black credit card is, we will show you the requirements to qualify for the card in South Africa.
Requirements For Absa South Africa Balck Card
Below are the basic requirements to qualify for the Absa black credit card:
- You should be 18 years or older
- You need a valid South African ID or smart card
- Proof of residence like a utility bill
- A minimum annual income of R750 000
- Should have investable assets with a value of R5 million or more
- Proof of income of three latest payslips or bank statements
- You have to pass the affordability assessment
These are the requirements to qualify for the Absa private banking visa signature credit card in South Africa.
Absa Black Credit Card
An app is designed for black cardholders to meet the specific needs of a private high net individual.
You have access to a dedicated private banker who is at your service on a 24/7 basis.
You can do local and international banking from anywhere in the world using the Absa private wealth app.
The card offers you opportunities to quickly rack up points on travel, dining, shopping around the globe, and exclusive lounge access.
You also get privileges like upgrades and special permissions for rental cars and access to the most expensive hotel suites in hard-to-reach destinations.
The card also offers you a private concierge service.
The monthly service fee is waived if you maintain a balance of R75 000 in a month.
The card has the lowest service fee for a private wealth bank account and the second-highest salary requirement in South Africa.
This makes it almost impossible for 96% of taxpayers in South Africa to afford the card.
This is how the Absa black credit card works in South Africa.
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