Learn How to Apply to Capitec Bank Credit Card

What do I need to know before applying for a Capitec Bank Credit Card?

Capitec Bank’s credit card is a versatile financial tool, offering a credit limit of up to R500,000 and a guaranteed 1% cashback on all in-store and online purchases. As a leading financial services provider in South Africa, Capitec Bank has gained popularity with over 20 million active customers and a comprehensive range of banking solutions.

The credit card application process is entirely online, providing a quick and convenient experience for potential customers.

Capitec Bank’s credit card application process is characterized by its emphasis on a fixed income requirement and credit score evaluation. The initiation fee is R100, with a monthly fee of R50 and interest rates ranging between 11.75% and 22.25%, depending on the customer’s credit profile.

The card comes with various benefits, including a variable credit limit, 1% cashback, zero currency conversion fees, and access to up to 55 interest-free days. Capitec Bank’s commitment to online security aligns with its fully digital banking services, providing a comprehensive financial management experience for users.

If you think it can be good for your needs, keep reading.

Who can Apply for the Capitec Bank Credit Card?

Capitec Bank doesn’t impose many conditions on the application for its credit card. Essentially, one needs to be a citizen aged 18 or older and possess a valid identification document in the South African country.

Another crucial point is the requirement for formal employment with a fixed salary. In such cases, proof of a monthly income of R5,000 is necessary. For self-employed professionals, regardless of their field, the minimum expected salary is R100,000.

Beyond these criteria, there are no other significant distinctions. It’s worth noting that the customer’s credit score also plays a role in the approval of the credit card limit.

Capitec Bank does not explicitly require the customer to have a bank account with the bank. However, it also provides the option to apply if the customer intends to combine both services at the time of contracting.

How do I Apply for the Capitec Bank Credit Card?

The application process for Capitec Bank’s credit card can be completed entirely online through the application form provided by the brand. To fill out the form, the customer needs to first define the desired credit limit. Afterward, they must provide the following information:

• Full name
• South African ID Number
• Employer’s name
• Employment type and occupation
• Start date of employment
• Salary after deductions
• Email address
• Phone number

To proceed with the application process, the customer needs to submit the following documents:

• Original South African identification document
• Latest salary proof
• Bank statements for the last 3 months

In this way, every application is received by the bank, which conducts a credit check to determine the values that best suit the customer’s profile.

In this regard, the maximum possible credit limit is R500,000. In addition to the credit card, Capitec offers various other plans and investment and personal loan possibilities, along with the bank itself, each with its own application processes.

Want to learn about another option?

The Absa Private Banking VISA Signature Credit Card is one of the key credit products offered by the Absa Group, one of the most respected banks in South Africa. In this context, the card provides a credit limit of up to R228,000, offering broad international acceptance and a range of benefits, which you can learn more about!

Written by

Gabriel Gonçalves