Absa Premium Banking Credit Card Full Review

Up to R138,000 in monthly credit and up to 30% in cashback rewards

The Absa Premium Banking Credit Card offers up to R138,000 in credits every month, premium priority services with dedicated agents, complimentary access to VIP lounges worldwide, and premium rewards at Dis-Chem.

Absa Bank is a division of the Absa Group, which provides a variety of financial goods and services to the South African population. In this regard, Absa Bank provides insurance, loans, investment consulting, account management, and credit cards to individuals and corporations.

Premium Banking offers even more sophisticated services for clients, including access to a dedicated financial advisor and priority phone and chat lines. Additionally, the client receives special service at selected branches.

Thus, the Absa Premium Banking Credit Card materializes priority banking services for clients, featuring a credit card with excellent international acceptance and rewards programs.

Therefore, if you believe you need a credit card of this caliber, continue reading our comprehensive review.

How Does the Absa Premium Banking Credit Card Work?

The Absa Group’s Premium Banking offers a comprehensive package for managing accounts and credit and debit cards. According to the brand itself, it represents a new perspective on money and life.

Premium Banking clients can enjoy priority services at selected branches, with dedicated consultants and dedicated lines for the premium clientele. In addition, it offers an overdraft facility for coverage and instant access to loans in case of emergencies. This comprehensive account management comes with a monthly fee of R200.

The unified Premium Banking credit card can be requested together with or separately from the account. The premium credit card is operated by VISA on the Platinum Level and gives a limit of up to R138,000 for a monthly fee of R92 for card maintenance alone. To be eligible for premium access, the client needs to have a minimum monthly income of R25,000.

Furthermore, the card has a daily limit of R5,000 for point-of-sale transactions and R1,000 for ATM withdrawals, with the possibility of increasing limits directly in the app.

The card is also widely accepted internationally and has no fees for purchases, allowing quick and easy access to ATMs worldwide.

What are the Absa Premium Banking Credit Card Benefits?

In addition to all the dedicated premium services for cardholders and account holders, the Absa Premium Banking Credit Card also offers the following general benefits:

• Up to 57 interest-free days on qualified transactions
• Complete access to the Digital Bank with dedicated consultants for the premium account
• 12 free visits per year to the Bidvest Airport Lounge, including guests, and special discounts after the limit
• Travel insurance with basic coverage of R3 million
• Buyer protection and extended warranty
• Free 24/7 lost card protection
• NotifyMe system to receive account activity alerts

The Absa Rewards program offers instant rewards as the client completes special challenges in the banking app. Additionally, the client receives up to 30% real cashback through Absa Rewards based on their level of usage both inside and outside South Africa.

In this sense, Absa’s rewards system is quite comprehensive, especially with exclusive partnerships with services both within and outside the country, offering good opportunities for cashback to customers.

Another special benefit is the enhanced premium rewards at Dis-Chem, a pharmaceutical company in South Africa. The earnings table has five different levels and can offer rewards ranging from 30% to 33% from purchases.

Furthermore, clients have access to the benefits of VISA Platinum:

• Global Assistance Services
• Global offers and discounts
• Extended warranty coverage
• Exclusive offers

Possible Drawbacks

Premium banking is a select service that requires quite a high minimum income. Therefore, many people may not meet the criteria, especially since the bank itself emphasizes that availability checks may be conducted.

Even for high-income individuals, Absa Bank may not offer the best international solutions. Therefore, it is necessary to weigh all the factors and verify if it is truly a good option.

How do I apply for the Absa Premium Banking Credit Card?

The application for the credit card can be done in various ways for both Absa Bank customers and non-customers, and it is available through different channels. Therefore, you can review a complete explanation.

Written by

Gabriel Gonçalves