Are you interested to learn about the Absa gold credit card in South Africa? Then check out this guide.
We will first briefly explain what a gold credit card is.
What Is A Gold Credit Card
This rewards card comes with more perks, higher credit limits, and a higher annual fee than a standard credit card.
The card is tailored for big shoppers who eat out a lot and do a lot of everyday spending.
A gold card owner does have to pay off the debt in full every month but can carry over certain balances with interests.
Now that you understand what a gold card is, we will show you exactly how the Absa gold card works in South Africa.
Absa Gold Credit Card
You are charged a monthly account fee of R25.
The monthly credit facility fee is R30 making a total monthly fee of R55.
You are required to deposit a monthly income of R4 000 in your gold account.
The card offers you a credit limit of up to R90 000.
You are required to pay a minimum of 3% of the outstanding balance every month.
You get up to 57 days of interest-free purchases after acquiring the card.
This card offers you contactless payments where you tap and pay.
You can swipe the card at any point of sale machine in the world.
You can shop anywhere physically or online, locally or over the seas.
You get an R 1.5 million automatic basic cover for international travel when you register for the card.
You get access to the Bidvest airport lounge at a preferential rate.
You can choose from 3 discounted insurance packages with monthly low monthly premium rates to enjoy travel and accident covers, card skimming, and loss at ATM protection.
This is how the Absa gold credit card works in South Africa.
Requirements For Gold Credit Card
Below are some of the basic requirements to apply for the Absa gold credit card in South Africa:
- A copy of your SA national ID or passport
- Your latest payslip
- For the non-Absa customers, you need your three latest bank statements as proof of income.
- You also need one passport photo.
These are the requirements to qualify for the Absa gold credit card in South Africa.