Capitec Bank Credit Card: Credit Limit of up to R500,000 and 1% Cashback on Smart Payments!

Capitec Bank is a South African credit card that offers highly efficient financial management with a credit limit of up to R500,000 and 1% cashback on smart payments.

This makes it a great credit card option even for higher expenditures, and you can see how to apply.

SEE HOW TO APPLY

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Capitec Bank, the largest retail bank in South Africa, opens over 120,000 new accounts monthly and operates more than 850 retail branches nationwide.

The bank offers a range of services for individuals and businesses, including investment opportunities.

Capitec Bank’s credit card is a straightforward choice for managing day-to-day finances, both locally and internationally.

Their services are highly integrated, allowing convenient management via smartphone or internet banking.

The benefits include up to 55 days of interest-free credit, travel insurance coverage up to R5 million, 3.5% annual interest on positive balances, and optional credit insurance.

It’s important to note that to obtain the card, you need to have a Capitec Bank account. Opening an account is seamlessly done through their app, ensuring a user-friendly experience.

As per Capitec Bank’s guidelines, the credit limit for the card can reach up to R500,000, depending on individual client conditions.

The minimum monthly income required is R5,000 for salaried employees and R10,000 for self-employed individuals, accommodating various income levels.

The card entails an initiation fee of R100, a monthly fee of R50, and interest rates ranging from 11.75% to 22.25%, determined by the applicant’s credit profile.

Alongside the income criteria, opening a Capitec Bank account is necessary to access the card.

The entire process of opening the account can be completed conveniently through internet banking and the bank’s apps. However, the application for the card itself is handled through an agency.

Moreover, the card assists in building a robust credit history, which is essential for securing other credit cards in the future.

One of its notable advantages is the lack of currency conversion fees, which is beneficial for transactions in dollars and euros.

Capitec places a strong emphasis on online shopping security, providing 1% cashback on all smart purchases. Smart usage encompasses payments through Apple Pay, Google Pay, Samsung Pay, and Garmin.

Additionally, you can enjoy free contactless payments with a complete setup through the app.

This way, you can use the Capitec Bank credit card according to your needs. The application terms are quite favorable and align with the card’s style and value range.

Want to learn other option?

If you are looking for a credit card tailored to high-end needs, you might consider the Absa Private Banking Visa Signature.

It offers access to more luxurious VIP lounges and a credit limit of up to R228,000. Additionally, you will enjoy the benefits of Visa Signature, and you can see detailed instructions on how to apply.

SEE HOW TO APPLY