For those searching how Absa gold credit card work, read through this article to get the answers.
This card is packed with features suitable for those looking for special lifestyle offers.
The card has very affordable rates and offers exclusive promos on fuel purchases when used for transactions.
We will begin by showing you the requirements to qualify for the card.
What Are The Requirements To Own A Card
Below are the requirements to apply for an Absa gold credit card:
- You should be 18 years and above
- A South African ID or smart card
- Proof of residence not older than three months
- Last three payslips to prove income
- You should have a monthly income of between R4 000 to R25 000
These are the requirements for the qualification of a card.
With that information, we will now show you exactly how the card works in South Africa.
How Does Absa Gold Credit Card Work
When you own this card, you automatically become an Absa Rewards member.
Every purchase you make with this card earns you reward points subject to redeem for various goods and exclusive discounts.
The card offers customized interest rates and repayment periods.
You get up to 57 days of interest-free purchases when you consistently pay your outstanding balances in full by their due date.
You receive basic travel insurance when using the card to purchase your flight tickets.
There is no transaction fee when you use the card to purchase fuel.
You can use contactless payments for purchases less than R200.
The card allows you to do online transactions.
You can use the gold credit card at any ATM worldwide.
The credit card can also be used on any POS bearing the Mastercard logo as it is affiliated with Mastercard.
This is how the Absa Gold credit card works in South Africa.
Now that you know how the card works, we will show you the costs associated with the card.
What Is The Cost
During application, you will be charged an initiation fee of R166.45.
A monthly service fee of R27 is charged to maintain the credit facility and the value-added features on the card.
Over-the-counter withdrawals will cost at least R65, while ATM withdrawals will cost R4.50.
You can also withdraw funds abroad at the cost of R65 and a currency conversion charge of 2.75%.
Email and SMS notifications about your card transactions will cost you R0.60 per message.
The interest rate is at 20.75% per year.
This is all you need to know about how Absa Gold credit card work in South Africa.
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