Sanlam Money Saver Credit Card Full Review

Rewards of up to 5% on qualifying purchases with the card!

The Sanlam Money Saver Credit Card is one of the financial services provided by Sanlam, a South African group specializing in insurance and asset and wealth management. It offers a Mastercard that provides up to 5% in reward bonuses for both online and offline purchases!

The Sanlam Money card offers efficient expense management, making it an attractive product that embodies the reliability of a brand recognized as the largest insurance company in South Africa.

Over the years, the group has expanded its range of services to accompany the public in various moments, and the credit card is an effective product for numerous online and offline purchasing options.

Therefore, if you believe that the Sanlam Money Saver card could be a good option for your next credit, keep reading.

How Does the Sanlam Money Saver Credit Card Work?

The Sanlam Group is considered the largest insurance company in Africa. Born in Bellville, Western Cape, with over 100 years of history, the Sanlam Group specializes in life and general insurance for the public.

Beyond insurance, the Sanlam Group has expanded into other departments such as personal finance, emerging markets, investments, corporate, and real estate. It offers services such as financial planning, asset and risk management, and activities in the capital market. Escaping the borders of South Africa, the Sanlam Group operates in other territories such as Ghana, Nigeria, Mozambique, India, and even the United Kingdom.

The Money Saver Credit Card facilitates purchases within and outside South Africa, both online with a password and in physical stores using CHIP, PIN, or contactless methods. With the Mastercard logo, the card is widely accepted worldwide. The card is operated by RCS, a credit and financial services company, while bonuses and rewards are managed by Real Futures Pty Ltd.

In terms of costs, the card has a monthly management fee of R60, with a minimum income requirement of R3,000 for customers.

What are the Sanlam Money Saver Credit Card Benefits?

The Sanlam Money Saver presents a widely accepted Mastercard globally, offering up to 55 interest-free days, aligning with market trends. The standout feature of the Sanlam Money Saver Credit Card lies in its reward bonuses. Firstly, customers can choose a co-savings option for depositing rewards, receiving 2.5% every time they use the card, with funds directly directed to the bonus account.

Moreover, Sanlam offers a special condition where making purchases at the brand’s partners results in an additional 2.5%, totaling 5% directly into the card’s co-savings account. Sanlam’s partners include Dis-Chem, Adidas, Baby City, Tiger, NuMetro, ToysRus, Flight Centre, Tyres and More, BabiesRus, and Reebok. When purchasing at TotalEnergies fuel stations, customers receive R1 back for every liter of fuel.

Customers also have the option not to choose the co-savings, accumulating 3% on purchases. Wealth bonuses are paid quarterly or annually in cash.

Sanlam provides a savings calculator that allows customers to plan their rewards based on purchases within and outside the credit card’s partner network. This feature proves highly beneficial for customers to plan and budget before spending money with the Money Saver.

In any case, the Sanlam Money Saver provides a highly efficient credit card for managing finances, featuring app resources and the reputation of one of the largest financial brands in the country.

Possible Drawbacks

While the Sanlam Money Saver credit card offers highly advantageous reward bonuses, the absence of other travel and lifestyle benefits may not fully satisfy customers, especially those who primarily use the credit card outside of South Africa. Additionally, customers might find better credit limit conditions with other credit cards, even considering the security and reliability of Sanlam’s products.

How do I apply for the Sanlam Money Saver Credit Card?

The application process for the Sanlam Money Saver is conducted through a form in partnership with RCS, a lending company in South Africa. Therefore, it is crucial to gather information about the conditions and procedures before embarking on the quest for the card.

Written by

Gabriel Gonçalves