It is important to be able to spend without paying cash upfront using a credit card. Making cashless payments worldwide, paying in instalments, and personalizing your interest rate has just become easier with Capitec Credit Card. This is a great addition to your wallet because of a number of features cardholders can access.
Aside from the standard use of the credit card when shopping, you can take advantage of Capitec card’s low interest rates to make purchases and balance transfers. When using the card overseas, cardholders are not charged for conversion fees.
If you’re planning to get a credit card, you need to weigh the decision based on a number of factors including features and charges, among other aspects. Read on to find out about the application process, requirements, and other information to get a Capitec credit card.
Capitec Credit Card Features
The highlight of this credit card is the ability to personalize the interest rate. Cardholders can enjoy a 7.25% interest or higher, depending on the credit score and use of card. This interest rate can go lower if you pay your balances on time and in full.
To give you extra breathing space, Capitec provides a longer interest-free period of up to 55 days. This means you can settle your bill within the 55-days cycle and get no extra charges like late fees and interest.
Are you constantly traveling? If you want to save money when transacting overseas, the Capitec credit card doesn’t charge a conversion fee. This also applies for cash withdrawals outside of South Africa. Moreover, the card features a free basic travel insurance to give you peace of mind while traveling abroad.
Another reason to get this credit card is the bigger credit limit up to R250,000 or more. The limit will depend on an applicant’s paying capacity and credit score. Even if the limit is low after acceptance, you can still request for an increase after some time.
Application Process and Requirements
To apply, you can visit a Capitec branch to submit documents and application form. You can also get an online credit estimate on their website. Interested applicants need to be 18 years old or older to qualify, employed, and earning a minimum of R3,000 a month, and a South Africa resident.
The documents required by Capitec include original certification document indicating your age. To prove that you have the capacity to pay for the card, you need to present employment certificate or latest salary slip. Finally, you need to provide copies of bank statements showing 3 salary deposits.
Fees and Charges of Capitec Credit Card
To get a Capitec credit card, you need to pay the initiation fee of R100 and a monthly fee of R40. The interest rate of the card varies from 7.25% to 17.75%, depending on your credit profile.
Capitec Contact Information
If you have questions about the credit card, application and requirements, you can reach out to Capitec through their hotline number 021-941-1377 or email your concerns at clientcare@capitecbank.co.za.
The bank’s main office is located at 1 Quantrum Street, Techno Park, Stellenbosch, South Africa.
Conclusion
The Capitec credit card provides a host of benefits to the cardholders, including a chance to save money when using the card overseas. If you need a reliable credit card with a longer interest-free period, this is card is a good option. For more information, visit Capitec website.
Note: There are risks involved when applying for and using a credit card. Please see the bank’s terms and conditions page for more information.
