21 Best Credit Cards in South Africa 2022 (Beginners, Everyday Use & Entrepreneurs) | Finance Briefly (2022)

21 Best Credit Cards in South Africa 2022 (Beginners, Everyday Use & Entrepreneurs) | Finance Briefly (1)

When looking for credit cards online usually you’ll usually find a bunch of credit cards thrown into a single list with no order.

That said, I decided to make my list a lot more organized. I understand that different credit cards suit different people, so I decided to break up my research into three different ‘personal situation groups.’

  • GROUP 01. Credit cards for beginners, students, young adults, low-income earners (below R10,000 per month), or people with bad credit.
  • GROUP 02. Credit cards for everyday use. These cards are generally suited towards medium-income earners of R10,000+ per month, and the family’s breadwinner.
  • GROUP 03. Credit cards for high-income earners (R40,000+ per month) and entrepreneurs that are always on the move.

So how should you use this credit card research guide? Well, first decide which group you fall in, then scroll down and find the section that’s dedicated to your group. I hope this helps!

Before getting started, a few notes:

  • I didn’t mention the credit card interest rates because it HEAVILY depends on your situation. However, to get an idea, the national average for credit card interest rates in South Africa ranges between 14% and 24%.
  • Only some credit cards mention maximum credit you’ll get because, again, this heavily depends on your credit history. If you have a bad credit history, banks won’t give you a cent. If you have a fantastic credit history, they’ll give you more than you need. It’s as simple as that.

Ready to find finally find a credit card that best suits your needs? Great! Start by finding your group below!

GROUP 01.
Credit Cards For Bad Credit or Beginners (Young Adults, and Low-Income Earners)

Low-income credit cards are tailored to people just starting, or for people who are trying to get a credit card with a bad credit score.

Whether you’re a young adult in your 20’s who wants to start building a credit record, or you’re a low-income earner that needs a bit of help, then these beginner credit options are for you.

What should you be looking for in a credit card if you’re a low-income beginner?

  • The credit cards monthly fee. The lower, the better. You don’t want to be spending a significant percentage of your income on just owning a credit card.
  • Monthly income that is required before applying. For this, look for a credit card that accepts amounts lower than your income. This will increase your chances of getting accepted.
  • Don’t expect significant benefits. With low-income credit cards, your goal should be to start building a credit record with as little upfront cost as possible, so ignore the benefits for now.

So, in a nutshell, please keep it simple. Get a card that you have a high chance of getting accepted, with a low maintenance monthly fee, and don’t get fussy with the benefits.

Credit Card:Monthly Fee:Min Monthly Income:Airport Lounge Access:Learn More:
01.Absa Flexi Core Credit CardR14R2,000NOVIEW
02.Absa Gold Credit CardR23R4,000YESVIEW
03.Nedbank Classic Credit CardR30R5,000NOVIEW
04.Capitec Global One Credit CardR40R5,000NOVIEW
05.Standard Bank Blue Credit CardR40R7,500NOVIEW
06.African Bank Gold Credit CardR69R5,000NOVIEW
07.Standard Bank Gold Credit CardR54R7,500NOVIEW
08.Nedbank Gold Credit CardR32R8,300NOVIEW
09.FNB GoldR51R7,000NOVIEW
10.American Express Gold Credit CardR32R5,000NOVIEW

Here’s a deeper look into the list.

01. Absa Flexi Core Credit Card

  • Monthly fee: R14
  • Min monthly income required: R2,000 per month
  • Credit limit: Up to R90,000
  • Annual interest rate (APR): Personalised

Key benefits:

  • Interest-free if you pay back your balance within 57 days.
  • R1.5 million basic travel insurance.
  • Visa airport dining.
  • Extremely low monthly fee and income required.

Key drawbacks:

  • No airport lounge access.

Learn more or apply for this credit card here.

02. Absa Gold Credit Card

  • Monthly fee: R23
  • Min monthly income required: R4,000 per month
  • Credit limit: Up to R90,000
  • Annual interest rate (APR): Personalised

Key benefits:

  • Interest-free if you pay back your balance within 57 days.
  • R1.5 million basic travel insurance.
  • Visa airport dining.
  • Access to the Bidvest airport lounge at a discounted rate.
  • Extremely low monthly fee and income required.

Key drawbacks:

  • You may get airport lounge access, however you’ll still need to pay.

Learn more or apply for this credit card here.

03. Nedbank Classic Credit Card

  • Monthly fee: R30
  • Min monthly income required: R5.000 per month
  • Annual interest rate (APR): Personalised

Key benefits:

  • Interest-free if you pay back your balance within 55 days.
  • Basic travel insurance

Key drawbacks:

  • No airport lounge access.

Learn more or apply for this credit card here.

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04. Capitec Global One Credit Card

  • Monthly fee: R40
  • Min monthly income required: R5,000 per month
  • Credit limit: Up to R250,000
  • Annual interest rate (APR): 7.00% – 17.50% depending on your credit history.

Key benefits:

  • Interest-free if you pay back your balance within 55 days.
  • Basic travel insurance.
  • They don’t charge currency conversion fees.
  • Low monthly fee and income required.

Key drawbacks:

  • No airport lounge access.

Learn more or apply for this credit card here.

05. Standard Bank Blue Credit Card

  • Monthly fee: R40
  • Min monthly income required: R7,500 per month
  • Credit limit: R250,000
  • Annual interest rate (APR): Personalised

Key benefits:

  • Interest-free if you pay back your balance within 55 days.

Key drawbacks:

  • Very few benefits, however great for low-income earners.
  • No airport lounge visits.
  • No travel insurance.

Learn more or apply for this credit card here.

06. African Bank Gold Credit Card

  • Monthly fee: R69
  • Min monthly income required: R5,000 per month
  • Annual interest rate (APR): Personalised

Key benefits:

  • Interest-free if you pay back your balance within 60 days.
  • Basic travel insurance
  • Credit card life insurance

Key drawbacks:

  • No airport lounge access.

Learn more or apply for this credit card here.

07. Standard Bank Gold Credit Card

Overview:

  • Monthly fee: R54
  • Min monthly income required: R7,500
  • Credit limit: R250,000
  • Annual interest rate (APR): Personalised

Key benefits:

  • Interest-free if you pay back your balance within 55 days.
  • Free global travel insurance.
  • Flight discounts if you book with emirates of up to 35% off. Book through Leisure Desk to get a discount.

Key drawbacks:

  • No airport lounge access.

Learn more or apply for this credit card here.

08. Nedbank Gold Credit Card

  • Monthly fee: R32
  • Min monthly income required: R8,300 per month
  • Annual interest rate (APR): Personalised

Key benefits:

  • Interest-free if you pay back your balance within 55 days.
  • Basic travel insurance

Key drawbacks:

  • No airport lounge access.

Learn more or apply for this credit card here.

09. FNB Gold

Overview:

  • Monthly fee: R51 per month
  • Min monthly income required: R7,000 to R30,000
  • Annual interest rate (APR): Personalized interest rate

Key benefits:

  • Free interest if you pay back the balance within 55 days.
  • Free global travel insurance.
  • Cashback with eBucks.

Key drawbacks:

  • No airport lounge access.

Learn more or apply for this credit card here.

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10. American Express Gold Credit Card

  • Monthly fee: R32
  • Min monthly income required: R5,000
  • Credit limit:
  • Annual interest rate (APR): 19.65% to 20.5%

Key benefits:

  • Interest-free if you pay back your balance within 55 days.
  • R1 million basic travel insurance.

Key drawbacks:

  • No airport lounge access.

Learn more or apply for this credit card here.

GROUP 02.
Credit Cards For Everyday Use (Medium-Income Earners & family man)

‘Everyday use’ credit cards are generally tailored to medium-income earners or the family breadwinner.

So if you’re looking for a credit card you can use for a bit of home improvement, to go and take your spouse out to dinner, or to give you a bit of luxury when you do decide to go on holiday, then keep reading. This is the list for you.

Here are the credit card benefits that should be important to you:

  • Cashback. You’re constantly buying groceries and filling up your petrol tank to keep your family on the move. Credit cards that offer cash back on your purchases will be a huge help.;
  • Interest rate. If you’re looking for a medium-income earner credit card, then chances are you need to use the money. So make sure you select a card that offers a low-interest rate. Interest rates change on request depending on your credit card, so make sure you shop around before deciding.
  • Some travel benefits. If you go on holiday with your family ever now and then, then travel benefits can help. Look out for credit cards that offer lounge visits as well as travel discounts to make your holidays more affordable.
Credit Card:Monthly Fee:Min Income:Cash-back:Airport Lounge:Learn More:
01.FNB PremierR92R20,000YESYESVIEW
02.Standard Bank Titanium Credit CardR74R25,000NONOVIEW
03.Standard Bank World Citizen Credit CardR264R25,000NOYESVIEW
04.Nedbank Platium Credit CardR57R29,000NOYESVIEW
05.Absa Premium Banking Credit CardR59R25,000NOYESVIEW
06.American Express Platinum Credit CardR388R16,600NOYESVIEW

01. FNB Premier

This credit card is an excellent option for everyday use because it gives you everything you need for everyday living. You’ll get cashback on most of your daily living purchases with eBucks, and you’ll get airport lounge visits for when you do decide to go on holiday.

Overview:

  • Monthly fee: R92 per month
  • Min monthly income required: R20,000 to R62,000
  • Annual interest rate (APR): Personalized

Key benefits:

  • No interest if you pay your full balance back within 55 days.
  • Free Global travel insurance.
  • Cashback with eBucks.
  • Free national and international slow lounge visits.

Airport lounge access rules:

Have access to 2 free domestic and international SLOW airport lounge if you’re at eBucks reward level 03 per year.

You can use your complimentary visits to bring in 1 guest per visit. If your visits are up, if you’re not at eBucks rewards level 03, or if you’re bringing more than 1 guest, then it costs R250 for local and R400 for international slow lounge visits per person.

Learn more or apply for this credit card here.

02. Standard Bank Titanium Credit Card

  • Monthly fee: R74
  • Min monthly income required: R25,000 per month
  • Credit limit: R250,000
  • Annual interest rate (APR): Personalised

Key benefits:

  • Interest-free if you pay back your balance within 55 days.
  • Free global travel insurance.
  • Flight discounts if you book with emirates of up to 35% off. Book through Leisure Desk to get a discount.

Key drawbacks:

  • No airport lounge access.

Learn more or apply for this credit card here.

03. Standard Bank World Citizen Credit Card

  • Monthly fee: R264
  • Min monthly income required: R25,000 per month
  • Credit limit: R250,000
  • Annual interest rate (APR): Personalised

Key benefits:

  • Interest-free if you pay back your balance within 55 days.
  • Free global travel insurance.
  • Get 24 complimentary visits to any national or international LoungeKey lounge, Bidvest airport lounges, Standard Bank Library Lounge, as well as the standard bank Cafe Blue Lounge.
  • Flight discounts if you book with emirates of up to 35% off. Book through Leisure Desk to get a discount.

Key drawbacks:

  • Expensive monthly fee. Only great for if you travel often.
  • You can’t use complimentary lounge visits on guests. You’ll need to pay for them.
  • Travel credit card without offering airline miles

Airport lounge access rules:

As a world citizen cold holder you get a lot of travel benefits. You’ll get 24 complimentary visits per year to international and domestic LoungeKey lounge, Bidvest airport lounges, Standard Bank Library Lounge, as well as the standard bank Cafe Blue Lounge.

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The biggest drawback for me with Standard Bank is complimentary visits can only be used by the cardholder, which means you’ll have to pay for any guests.

Learn more or apply for this credit card here.

04. Nedbank Platium Credit Card

  • Monthly fee: R57
  • Min monthly income required: R29,000 per month
  • Annual interest rate (APR): Personalised

Key benefits:

  • Interest-free if you pay back your balance within 55 days.
  • Basic travel insurance
  • Bidvest premier airport lounge access. You’ll get 12 complimentary visits per year for domestic lounges only.

Key drawbacks:

  • Only domestic lounge access offered.

Learn more or apply for this credit card here.

05. Absa Premium Banking Credit Card

This is a great card for a medium-income earner that travels occasionally. The card offers travel benefits such as airport lounge access without an expensive monthly fee, which is out of the norm. Generally, cards with travel benefits have an expensive monthly fee associated with it.

  • Monthly fee: R59
  • Min monthly income required: R25,000 per month
  • Credit limit: Up to R138,000
  • Annual interest rate (APR): Personalised

Key benefits:

  • Interest-free if you pay back your balance within 57 days.
  • R3 million basic travel insurance.
  • Visa airport dining.
  • Free access to the Bidvest airport lounges.

Key drawbacks:

  • They don’t state how many free airport lounge visits you get per year.

Learn more or apply for this credit card here.

06. American Express Platinum Credit Card

  • Monthly fee: R388
  • Min monthly income required: R16,600 per month
  • Annual interest rate (APR): 15% to 20.5%

Key benefits:

  • Interest-free if you pay back your balance within 55 days.
  • R4 million basic travel insurance.
  • You get access to three different airport lounges; Priority Pass Lounge, Bidvest, and the Centurion Lounge. Altogether you’ll have access to over 1200 lounges in more than 400 cities worldwide.
  • Flight discounts with select airlines.

Key drawbacks:

  • Exremely expensive monthly fee when compared to other credit cards.

Learn more or apply for this credit card here.

GROUP 03.
Low Interest & High Limit Credit Cards (High-Income Earners & Entrepreneurs)

You’re a high-income earner, more than likely an entrepreneur that’s constantly on the move. High income credit cards are designed to make your past paced lifestly as easy as possible.

Here are the most important benefits you need to look for in high limit credit cards:

  • Credit card limits. If you’re looking for a credit card, you’re probably looking to get the highest limit possible to have access to credit in case you need to fund an opportunity in the near future. It’s always nice having fast access to credit on hand at all times.
  • Interest rate. When you do use the credit, you want to be charged as little interest as possible. That said, if you meet the income requirements below, then you’ll probably have a solid credit record. So make sure you shop around to get the lowest interest rate possible. You have the leverage to be fussy!
  • Airport lounge access. Chances are you’re always traveling, so look for credit cards that come with the best travel benefits. You’ll need as many complimentary airport lounge visits as possible (make sure your complimentary visits can be used on your guests.)
  • Meet and greet services. On top of that, meet and greet services are great, as well as airport fast-tracking services, so you don’t have to stand in long lines.
  • Flight miles. If you’re traveling often then it’s always nice to rack up miles so you can get a free upgrade in the future.

INSIDER TIP: While “private bankers” sounds great, in my experience, they really aren’t that valuable. I’ve had a few private bankers with FNB for years now, and nine times out of ten, they really haven’t been that helpful. So don’t place too much value on that so called ‘benefit.’

Credit Card:Monthly Fee:Min Income:Flight Miles:Airport Lounge:Learn More:
01.Standard Bank Diners Club Credit CardR80R41,000YESYESVIEW
02.FNB Private WealthR265R125,000NOYESVIEW
03.Standard Bank Platinum Credit CardR94R58,000NOYESVIEW
04.FNB Private ClientsR209R62,000NOYESVIEW
05.Absa Private Banking Credit CardR80R62,500NOYESVIEW

01. Standard Bank Diners Club Credit Card

I actually bank with FNB however I had to select this card as a winner because of two reasons. First, the monthly income required is extremely low for the amount of benefits they offer.

Apart from the obvious benefits such as airport lounge visits, they’re the only credit card in South Africa that I’ve seen mention anything about earning flight miles as you travel. Which is great to see. On top of that, I fly with Emirates all the time, and they offer up to 35% off which is huge for me.

  • Monthly fee: R80
  • Min monthly income required: R41,000 per month
  • Credit limit: Personalised
  • Annual interest rate (APR): Fixed

Key benefits:

  • Interest-free if you pay back your balance within 55 days.
  • Fixed interest rate.
  • Complimentary global phase 1 travel insurance.
  • Flight discounts if you book with emirates of up to 35% off. Book through Leisure Desk to get a discount.
  • Airport VIP fast track.
  • Free meet and greet transfers.
  • Access to over 1000 airport lounges worldwide.
  • Earn flight miles as you travel.

Learn more or apply for this credit card here.

02. FNB Private Wealth

Overview:

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  • Monthly fee: R265 per month
  • Min monthly income required: R125,000 or more
  • Annual interest rate (APR): Personalized interest rate

Key benefits:

  • Free global travel insurance.
  • Interest-free if you pay back your full balance within 55 days.
  • Cashback with eBucks.
  • Up to 36 free national and international lounge visits (see details below.)
  • Free airport pickup with AVIS meet and greet via eBucks
  • Access to private banker.

Airport lounge access rules:

With the private wealth card you get 2 complimentary slow lounge visits at ebucks level 02, and 36 visits at ebucks level 05 per year.

You can use your complimentary visits to bring in 1 guest per visit. If your visits are up, if you’re not at eBucks rewards level 02, or if you’re bringing more than 1 guest, then it costs R250 for local and R400 for international slow lounge visits per person.

Learn more or apply for this credit card here.

03. Standard Bank Platinum Credit Card

Overview:

  • Monthly fee: R94
  • Min monthly income required: R58,000 per month
  • Credit limit: R250,000
  • Annual interest rate (APR): Personalised

Key benefits:

  • Interest-free if you pay back your balance within 55 days.
  • Free global travel insurance.
  • Get access to any Bidvest airport lounges, Standard Bank Library Lounge, as well as the standard bank Cafe Blue Lounge at OR Tambo.
  • Flight discounts if you book with emirates of up to 35% off. Book through Leisure Desk to get a discount.

Key drawbacks:

  • The 12 complimentary Bidvest lounge visits you get can only be used on domestic trips.
  • You can’t use complimentary lounge visits on guests. You’ll need to pay for them.

Airport lounge access rules:

As a platinum credit cardholder, you’ll get 12 complimentary visits per year at domestic lounges. Complimentary visits can only be used by the cardholder, which means you’ll have to pay for each guest.

Learn more or apply for this credit card here.

04. FNB Private Clients

Overview:

  • Monthly fee: R209 per month
  • Min monthly income required: R62,000 to R125,000
  • Annual interest rate (APR): Personalized interest rate with up to 55 days interest-free.

Key benefits:

  • Interest-free if you pay back your full balance within 55 days.
  • Free global travel insurance.
  • Cashback with eBucks.
  • Up to 20 free lounge visits per year (view details below.)
  • Free airport meet and greet services by AVIS through eBucks.
  • Private banker access.

Airport lounge access rules:

You get 4 free international and domestic slow lounge visits if you’re at ebucks reward level 03 and 20 at rewards level 5 per year.

You can use your complimentary visits to bring in 1 guest per visit. If your visits are up, if you’re not at eBucks rewards level 03, or if you’re bringing more than 1 guest, then it costs R250 for local and R400 for international slow lounge visits per person.

Learn more or apply for this credit card here.

05. Absa Private Banking Credit Card

  • Monthly fee: R80
  • Min monthly income required: R62,500 per month
  • Credit limit: Up to R228,000
  • Annual interest rate (APR): Personalised

Key benefits:

  • Interest-free if you pay back your balance within 57 days.
  • Around R10 million travel insurance cover for international journeys.
  • Visa airport dining.
  • You get unlimited free visits to any Bivest lounge in South Africa. You also get two free visits for your guest per year. On top of that, you also get 6 free international lounge visits.
  • Absa private banker

Learn more or apply for this credit card here.

Your Turn

Wow, that was a long list. It took me forever to put it together, so I really hope it provided you with some value. That said, there’s probably a 99% chance I made a mistake or missed important information.

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So if you feel that I missed something important, or if you know of any credit cards that should be on this list, then please let us know int the comments below, so we can start learning from each other!

FAQs

What credit card should a beginner start with? ›

Discover it® Secured Credit Card. This card is our top overall pick for individuals starting out on their credit journey, since it offers cash back on every purchase, a $0 annual fee and the opportunity to graduate to an unsecured credit card.

Which bank credit card is best South Africa? ›

10 Best Credit Cards
  • ✔️Nedbank Platinum Credit Card.
  • African Bank Gold Credit Card.
  • FNB Gold Credit Card.
  • Capitec Credit Card.
  • ABSA Student Credit Card.
  • Standard Bank Gold Credit.
  • BlueBean Credit Card.
  • Nedbank Gold Credit Card.
5 Sept 2022

Which credit card is best for all purpose? ›

  • Chase Freedom Unlimited.
  • Capital One Venture Rewards Credit Card.
  • The Blue Business Plus Credit Card from American Express.
  • Bank of America® Premium Rewards® credit card.
  • Citi® Double Cash Card.
  • Chase Ink Business Unlimited.
  • Blue Cash Preferred® Card from American Express.
  • Bottom line.

Which credit card can I get easily? ›

best instant approval credit cards in India
  • HDFC Bank instant approval credit card. ...
  • Bajaj Finserv RBL Bank super card. ...
  • Kotak 811 #Dream Different credit card. ...
  • Standard Chartered virtual credit card. ...
  • SimplySAVE SBI credit card. ...
  • Axis Bank Insta Easy credit card.
1 Jan 2022

How many credit cards should you have? ›

If your goal is to get or maintain a good credit score, two to three credit card accounts, in addition to other types of credit, are generally recommended. This combination may help you improve your credit mix. Lenders and creditors like to see a wide variety of credit types on your credit report.

What are the fastest ways to build credit? ›

14 Tips on How to Build Credit Fast
  1. Request Your Free Credit Reports. ...
  2. Verify the Contents of Your Credit Reports. ...
  3. File a Credit Report Dispute If Errors Are Present. ...
  4. Pay Your Bills on Time — Every Time. ...
  5. Become an Authorized User on a Credit Card. ...
  6. Pay Off Debt and Accounts-in-collections Quickly.

Which bank is the easiest to get a credit card in South Africa? ›

To qualify, you need to be 18 years or older and earn a monthly income of at least R3000, not from a trust, company, or legal entity. Arguably, the Nedbank Gold Credit Card is the easiest credit card to get in South Africa. eNotes (SMS notifications).

Which bank gives the most credit? ›

Research indicates the Bank of America® Unlimited Cash Rewards credit card offers the highest credit limit — $95,000 — among balance transfer cards.

Which bank has a black card? ›

Centurion® Card from American Express* vs. The Platinum Card® from American Express. If the Amex Business Platinum is not an option for you, some of the Amex Black Card benefits are also available on the Amex Platinum for a much lower fee of $695. (Terms apply. See rates and fees.)

Is it good to use a credit card for everyday purchases? ›

Build credit: Using your card regularly and paying it off helps you build credit, opening the door to better rates on future loans and credit cards. Earn rewards: Using your credit card for everyday purchases may help you earn rewards that can be redeemed for cash back, gift cards or even used towards travel.

What is an everyday credit card? ›

An everyday spending credit card could be a useful way of staying in control of your finances. Usually come with a low interest rate on purchases. Can help you manage your essential expenses and regular bills.

How do I pick the right credit card? ›

Hence, you need to analyse your specific requirement for a credit card and then check the credit card's specifications. In the card's specifications, check the fees, charges, payment options and all the available offers on the card and make an informed decision based on all these factors.

How can I get a credit card with no income? ›

Steps to obtain a credit card without any income proof
  1. Show an employment letter if you are due to start working. ...
  2. Consider getting a secured credit card. ...
  3. Get an add-on card. ...
  4. Display a bank account with a generous balance. ...
  5. Get a credit card jointly.

Which credit card is best without annual fee? ›

Listed below are the best credit cards without annual fee offered by top banks in India.
Credit Card VariantAnnual Fee
SBI Card UnnatiNIL (For 1st four years)
YES Prosperity EdgeNIL (Limited-time offer)
Axis Insta Easy Credit CardNIL
Kotak Fortune Gold Credit CardNIL
12 more rows

Is it good to have 2 credit cards? ›

Low credit utilization ratio: Having more than one credit card can boost your credit score by helping to lower your credit utilization ratio. Your credit utilization ratio is the amount of credit you're using compared to the amount of credit available. Most lenders prefer to see it at 30 percent or lower.

Does opening a credit card hurt your credit? ›

In the short term, opening a new credit card is likely to hurt your credit score a little bit, as it adds a hard inquiry to your credit reports and reduces your average age of accounts.

Does Cancelling a credit card hurt your credit? ›

A credit card can be canceled without harming your credit score⁠. To avoid damage to your credit score, paying down credit card balances first (not just the one you're canceling) is key. Closing a charge card won't affect your credit history (history is a factor in your overall credit score).

What can I buy to build my credit? ›

The best things to buy to build credit are everyday necessities that you can charge to credit cards, plus larger purchases like houses and cars that contribute to monthly credit reporting. Anything you purchase with a credit card or loan ultimately helps you build credit, as long as you make the payments on time.

How can I improve my credit score fast in South Africa? ›

How to improve your credit score quickly
  1. Check credit reports for errors. One measure you can take immediately is to check your credit report for errors and inconsistencies. ...
  2. Pay off outstanding debts. ...
  3. Reduce your credit ratio. ...
  4. Settle and close accounts. ...
  5. Avoid using credit. ...
  6. Ensure your spouse takes the same measures.

How can I get good credit in South Africa? ›

How do I improve my credit score?
  1. Pay outstanding bills.
  2. Pay all your incoming bills on time.
  3. Pay more than just the minimum instalment on your bills.
  4. Pay off credit card debt.
  5. Avoid spending up to your credit limit on your credit card and store accounts.

Which bank has lowest credit card fees? ›

List of Credit Cards With the Lowest Interest Rate
  • HDFC Bank infinia Credit Card.
  • YES FIRST Exclusive Credit Card.
  • Axis Bank Vistara Infinite Credit Card.
  • HDFC Diners Club Black Credit Card.
  • Axis Bank Burgundy Private Credit Card.

What credit score do you need for a credit card in South Africa? ›

Ideally, the minimum credit score for credit cards in South Africa is above 550.

Which black card is the best in South Africa? ›

FNB private wealth debit black card. One of the best black cards in South Africa, private wealth debit card is tailored for the ultra-rich. The card boasts many competitive perks. Let us look below what your advantages, requirements, and disadvantages of owning this FNB black card.

What is a good starting credit limit? ›

But even with good credit, the average credit limit you can expect to get with a first credit card is generally between $500 and $1,000. Average credit: If you have fair credit, expect a credit limit of around $300 to $500. Poor credit: Credit limits between $100 and $300 are common for people with poor credit scores.

Can I buy a car with a credit card? ›

Car dealers and auto lenders that do accept credit cards as a form of payment may also charge a convenience fee. This fee is often designed to cover the transaction fee mentioned above and can range from 2% to 4%. You should take this into consideration if you decide to purchase a car with your credit card.

What is the maximum credit card limit? ›

The highest credit card limit you can get is over $100,000 according to anecdotes from credit card holders. But like most credit cards in general, even the highest-limit credit cards will only list minimum spending limits in their terms. The best high limit credit cards offer spending limits of $10,000 or more.

How much money do you need for a black card? ›

The Black Card has a hefty $10,000 initiation fee, a $5,000 annual fee, and offers many travel perks. The Platinum Card has a $695 annual fee with many travel-related perks, and cardholders can earn points for every dollar spent. Besides the Black and Platinum Cards, American Express offers a line of 17 other cards.

What is the limit on black card? ›

There's no credit limit

The American Express Black Card doesn't have a pre-set spending limit, so cardholders can spend as much as they want every month. But that's only the case if they can afford it. The Centurion® Card from American Express is a charge card, so cardholders can't carry a balance.

What does a black credit card mean? ›

What is a black card? A black credit card is a type of extremely exclusive credit card that is almost solely reserved for the ultrawealthy. Typically, the cards are available on an invitation-only basis. The threshold for entry into this elite echelon of card ownership is incredibly high, as are the annual fees.

What are the 4 major credit cards? ›

Many credit card options exist, but nearly all of them operate on one of four major networks: American Express, Discover, Mastercard or Visa.

What are 3 types of credit cards? ›

Fortunately, most cards can be classified into three major categories based on the features they offer: rewards credit cards, low interest and balance transfer cards, and credit-building cards.

How can I use my credit card to make money? ›

Learn how careful credit card use can help you earn, rather than lose, money.
  1. Transfer Balances to Reduce Interest.
  2. Use 0% Purchase APR.
  3. Pay With a Cashback Credit Card.
  4. Skip the Car Rental Insurance.
  5. Redeem Cashback for a Gift Card.
  6. Use the Discount Mall.
  7. Earn Free Travel or Hotel Stays.
31 Jan 2022

Which is better to use cash or credit cards? ›

Credit cards are more convenient and secure compared to carrying cash. As long as you can pay your bill in full then a credit card is a logical and desirable alternative to cash for in-person purchases and a necessary tool for online transactions.

How many times should I use my credit card per month? ›

You should use your credit card at least once every three months to keep it active (but more often than that if you want your credit score to improve at a faster rate). Not all issuers are the same when it comes to credit card inactivity.

Do I need to use my credit card every month? ›

Nothing much happens if you don't use your credit card for a month. You'll just need to keep up to date with your monthly payment if you have an existing balance. But your credit card issuer isn't going to close your account for less than three months of inactivity.

How many times a month should I use my credit card to build credit? ›

WalletHub, Financial Company

You should use your secured credit card at least once per month in order to build credit as quickly as possible. You will build credit even if you don't use the card, yet making at least one purchase every month can accelerate the process, as long as it doesn't lead to missed due dates.

How do I build my credit? ›

Pay at least the minimum payment due each month, or more if you can, and make sure you pay on time. The best way to reduce the interest owed on a credit card is to pay off the balance as quickly as possible. Otherwise, it may take many years to pay off even a small credit card balance if you only make minimum payments.

What is a good credit score? ›

Although ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent.

How do credit cards work? ›

Credit cards offer you a line of credit that can be used to make purchases, balance transfers and/or cash advances and requiring that you pay back the loan amount in the future. When using a credit card, you will need to make at least the minimum payment every month by the due date on the balance.

Which bank gives credit card without proof of income? ›

Bank of Baroda's Assure Credit Card

Bank of Baroda offers Assure Credit Card to its fixed deposits customers. Income proof is not required to avail the card and customers can get the credit card against their fixed deposit.

Can I get a credit card if I just started working? ›

Income is only part of the qualifying process so if you don't have any yet, you won't be immediately disqualified from getting a credit card. The credit card issuer will also check your credit history to see how you've handled any past and current credit products.

Can I apply for credit card without bank account? ›

Do you need to have a bank account to open a credit card? The short answer is no. Credit card companies will only look at your credit score, current employment and income to determine your eligibility for a credit card.

What is lifetime free credit card? ›

If you are a credit-worthy customer, the bank may offer you a lifetime free Credit Card, which means no joining or annual fees.

How many credit cards can I have? ›

There is no ideal number of credit cards you can own. You can own as many credit cards as you want as long as you are eligible for it. If you do not maintain the right credit utilisation rate, your credit score may be reduced.

Who offers free credit? ›

Top 10 credit cards with no annual fee
  • 1/11. Lifetime free cards. ...
  • 2/11. IDFC FIRST WEALTH. ...
  • 3/11. IDFC FIRST SELECT. ...
  • 4/11. HSBC VISA PLATINUM. ...
  • 5/11. KOTAK 811 #DREAMDIFFERENT. ...
  • 6/11. AMAZON PAY ICICI BANK. ...
  • 7/11. ICICI BANK PLATINUM CHIP. ...
  • 8/11. BANK OF BARODA PRIME.
31 Aug 2022

Can you get a credit card without a job? ›

It isn't necessary to be employed to get a credit card. However, the Credit CARD Act of 2009 requires card issuers to consider your ability to repay any debt you incur with the account during the application process. In other words, not having a job won't stop you from getting approved, but not having any income might.

How do I build my credit? ›

Pay at least the minimum payment due each month, or more if you can, and make sure you pay on time. The best way to reduce the interest owed on a credit card is to pay off the balance as quickly as possible. Otherwise, it may take many years to pay off even a small credit card balance if you only make minimum payments.

What do you need to get a credit card UK? ›

To apply for a credit card, you need to be over 18 and a UK resident. You may also need to have a regular income, over a certain amount. Once you've decided on the right credit card for you, it's important to check the terms and conditions and eligibility criteria.

How can I use a credit card at 18? ›

It's possible to get a first credit card at a young age by becoming an authorized user on a parent's account, but the legal age to apply for your own credit card is 18. Eighteen to twenty year-olds must apply with a cosigner (which not all banks allow) or with proof of income.

What is the minimum salary required for a credit card? ›

Technically there's no minimum income requirement to get a credit card. A student's disposable income could be as low as $100 and they would still have the potential to be approved for a credit card. Higher incomes generally give applicants a better chance of getting approved for a card and a higher credit limit.

What documents do I need for credit card? ›

What you need to submit a credit card application
  • Your full legal name. ...
  • Your SSN and/or ITIN. ...
  • Your mailing address. ...
  • Your gross annual income. ...
  • Your employment status. ...
  • Your housing costs. ...
  • Your phone number. ...
  • Determine your credit health.

Can you get a credit card without proof of income? ›

Credit card issuers are more interested in your income than your job. They also look at your credit history, credit scores and existing debt. You can meet the income requirement even without a job by including on your application any income you have access to. Even if your income comes up short, rest easy.

How do you build credit from nothing? ›

3 things you should do if you have no credit history
  1. Become an authorized user. One of the quickest and easiest ways to build credit is by becoming an authorized user on a family member or friend's credit card. ...
  2. Apply for a secured credit card. ...
  3. Get credit for paying monthly utility and cell phone bills on time.

When should I use my credit card? ›

If you're spending money on electronics, appliances, travel, event tickets, or online purchases, using a credit card is usually the best payment method.

How often should you use a credit card to build credit? ›

You should try to use your credit card at least once every three months to keep the account open and active. This frequency also ensures your card issuer will continue to send updates to the credit bureaus.

Do you need a bank account to get a credit card? ›

Do you need to have a bank account to open a credit card? The short answer is no. Credit card companies will only look at your credit score, current employment and income to determine your eligibility for a credit card.

How do I show proof of income for a credit card? ›

Proof of income documents may include, but aren't limited to:
  1. Pay stubs.
  2. Tax documents.
  3. Annuity statement.
  4. Pension distribution statement.
  5. Unemployment benefits.
  6. Bank statements.
  7. Profit and loss statements for business credit card applications.
1 Dec 2020

What is the benefit of having credit card? ›

Using a Credit Card and repaying on time provides a boost to your credit score. A good credit score means you will be able to obtain Loans and Credit Cards quickly in the future. It's one of the Credit Card benefits cash or cheques cannot offer!

What is a good age of credit? ›

The more years you can put between you and your first (successful) credit card application, the more your score will benefit. As you add new credit, however, your average will drop. While there is no golden number to aim for, getting your average age of credit to between six and 10 years is probably a good goal.

What's the highest credit score? ›

A credit score ranges from 300 to 850 and is a numerical rating that measures a person's likelihood to repay a debt. A higher credit score signals that a borrower is lower risk and more likely to make on-time payments.

What is the age limit for credit card? ›

Age – You will need to be minimum 18 years of age to apply for a Credit Card. Even if you are an add-on Credit Card holder, the age limit needs to be met. Anyone meeting this criteria becomes eligible for a Credit Card. Income – Each bank has a specified minimum income set by them as an eligibility criteria.

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