Are you looking for how Absa cash back rewards work in South Africa? Look no more! We will show you how.
The Absa rewards is a cashback program for debit and credit cardholders.
The membership for this service is free, and you only need to have a transaction account with Absa.
We will first show you how cash rewards payout works.
How Does Cash Reward Payout Work
The system operates using the accrual period, which you spend during your accumulated Cash Rewards.
The cycle begins on the 16th of every month and ends on the 15th of the next month.
The rewards are then paid on the 1st of the following month.
Now that you know how the cash rewards are paid, we will show you exactly how cash back rewards work.
How Does Absa Cash Back Rewards Work
The program has five tiers that determine the percentage that you will earn back when you make purchases.
As you climb up the tiers the percentage cashback and discount increase.
Earning more Absa points will help you navigate through the tiers.
Anyone in the Absa program qualifies for the rewards and is automatically placed in tier 1, which requires 0 to 489 points.
Here you will get 0.15% cashback from the debit card and 0.20 % from the credit card.
To move to tier 2, you need to achieve 490 points, and you will get cash rewards of 0.20% and 0.40% debit card and credit card discount, respectively.
Moving from tier 2 to tier three, you only need an additional 100 points to reach 590 points, and you will qualify for 0.30% and 0.75% cash rewards for your debit card and credit card, respectively.
To upgrade to tier 4, you need an additional 100 points to reach 690 points.
Here you qualify for 0.35% and 0.95% debit card and credit card cashback rewards.
Tier 5 is the highest level and has the highest savings and cashback rewards.
You need a minimum of 790 points to be in this level, and there are no maximum points as it is the last rank.
Here you get 0.40% and 1.15% cashback for the debit card and credit card, respectively.
This is how Absa cash back rewards work in South Africa.
We will now show you exactly how to earn points on the program.
How To Earn Absa Rewards Points
You earn points depending on the type of transactional account you have with Absa, the products, and how you bank.
You can earn points by simply having asset finance, savings, and insurance with Absa.
This is all you need to know about Absa cashback rewards in South Africa.
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