Absa Bank Student Credit Card Full Review
The Absa Bank Student Credit Card offers a range of advantages with a zero maintenance fee for South African students from 18 to 30 years old
Rewards on purchases with a zero monthly maintenance fee
The Absa Bank Student Credit Card provides the opportunity for young individuals to establish good credit habits and earn rewards on purchases, all without any monthly fees and minimal requirements for application.
Absa Bank is a financial institution with diverse offerings in investments and wealth management for both businesses and individuals.
As part of the Absa group, it has banks in various African countries beyond South Africa, including offices in the USA and Europe. The Absa Student is the brand’s credit card specifically focused on young professionals who are just starting their careers and have not yet built substantial assets.
This is because the conditions for applying for the card are not overly demanding. Therefore, the Absa Student Credit Card aims to assist young professionals in beginning their credit journey with an easily manageable option for everyday use.
How Does the Absa Bank Student Credit Card Work?
The Absa Bank Student Credit Card was created to meet the needs of individuals aged 18 to 30 with income or subsidies starting at R800.
These conditions are specifically in place so that the card serves as an initial entry into the world of credit management, helping young students build a positive history that will result in better options for more robust cards in the future. And that is precisely the focus of the Absa Bank Student Credit Card: to offer a future for the young!
The application process is quite straightforward compared to other, even premium, credit cards from Absa Bank itself. The Absa Bank Credit Card has no monthly fee, allowing customers to make online and in-person purchases of products and services without any monthly charge.
The card offers up to 57 days of interest on qualified transactions, with optimized fixed monthly payments on installments. Produced with all current contactless technologies, the card allows for swiping, scanning, or tapping to make payments on point-of-sale machines worldwide, easily and securely online or in person.
Using the VISA brand, the Absa Bank Credit Card provides good service for students duly enrolled in an educational institution, serving well for everyday use.
What are the Absa Bank Student Credit Card Benefits?
Despite not having a monthly fee and being focused on student needs, the Absa Bank Student Credit Card still offers excellent benefits. Here is the list:
- Full access to the Absa Banking app to manage the card, report fraud, and manage daily limits
- Entitlement to three free visits per year at the Bidvest Airport Lounge
- R1 million in basic automatic coverage travel insurance for emergencies
- Free protection to assist the client in case of card loss emergencies
- Earn rewards with smarter banking services by completing challenges on the app
- Offers from Visa Global Merchant and other exclusive Visa benefits
- SMS notifications of card activities through NotifyMe
The Absa Bank Credit Card provides access to Absa Rewards, the bank’s rewards system. In 2023, Absa is running a zero-fee promotion to enroll in the program. Here are the benefits of Absa Rewards:
- Up to 30% cashback on grocery purchases at Food Lover’s Market, Pick n Pay, and Woolworths
- Up to 30% cashback on fuel at Sasol stations
- Up to 30% real cashback on health purchases at Dis-Chem
- Up to 30% real cashback based on rewards level on purchases from Rewards partners in physical and digital stores
It is worth noting that cashback possibilities depend on meeting goals and challenges in banking usage, as well as the credit card level. Therefore, the volume of rewards and benefits depends on consistent management of credit card usage with the bank.
The Absa Bank Student Credit Card, as the name suggests, is only available to students who are currently enrolled in educational institutions.
Therefore, non-students will not be able to benefit from it, even if they fall within the specified age range. Indeed, the zero-monthly fee is quite attractive. However, the level of benefits may not be the most advantageous.
This is because if the young individual already has a higher monthly budget, a higher income, and a greater volume of expenses, it may be more interesting to seek a more comprehensive card.
How do I apply for the Absa Bank Student Credit Card?
Absa Bank offers different contact options for young students who see the card as a good option to start their journey into the world of credit. You can read more about the application process.