Do you want to know how Absa student credit card work in South Africa? Please read through this guide.
This card allows students accredited to any South Africa university to access funds when the need arises.
You also start building your credit record when using this card.
We will first look at the requirements to obtain a card.
What Is Required To Qualify For Absa Student Credit Card In South Africa
Below are the basic requirements:
- You have to be between 18 and 30 years
- You need a monthly income of at least R800
- A valid South African ID or smart card
- Proof of residence and proof of income for the three latest months
- A student registration ID
These are the main requirements to qualify for a student credit card.
Now that you know the requirements, we will show you exactly how the card works.
How Does Absa Student Credit Card Work
With an Absa student credit card, you can swipe, scan or tap to pay at any point-of-sale machine in the world.
You can visit any Absa branch or the Absa student bureau to apply for the card.
You can also do online shopping or in-store shopping with the card.
You earn rewards when you pay with the card, either locally or internationally.
Activate SMS notifications to get alerts on any activity in your account and watch any fraudulent activity.
You get R1.5 million automatic basic cover for a range of travel emergencies.
The card enables you to establish a good credit history while enhancing your future.
This is how Absa student credit card works in South Africa.
What Are The Rates And Interests
We will now show you the limits, rates, and interest incurred when using the student card.
There are no transaction fees on purchases made.
The card charges R3.95 to withdraw money and 1.15% of the withdrawn cash if you use an Absa ATM.
When you withdraw from a different bank ATM, you are charged R9.95 and 1.15% of the withdrawn funds.
The card limit is R200, and the interest rate is 18%.
You are required to pay a monthly repayment of at least 3% of the outstanding balance.
You receive an interest rate of 0.2% when you have a positive balance on your card.
This is all the information about how Absa student credit card work in South Africa.
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