Best credit card deals from South African banks

Many of South Africa’s major banks offer entry-level credit cards with minimal monthly fees that can help young consumers start building a good credit score.
These cards often also come with some added value in the form of membership to banks’ rewards programmes and other perks like free travel insurance.
A credit card lets you buy items you normally may not have been able to afford with cash upfront, and can also function as a simple payment card.
To avoid your credit card spending spiralling out of control will require discipline when making repayments.
Under the National Credit Act, the maximum annual interest rate chargeable is the repo rate plus 14%, currently amounting to 20.25%.
Theoretically, a R1,000 credit purchase will attract R202.50 of interest over a year, not accounting for monthly compounding.
Although that might not sound like much, interest payments can quickly wreck a monthly budget.
However, if you are disciplined with repayments, you can avoid interest on some credit card purchases altogether using interest-free periods.
Keeping up with your payments will positively impact your credit score, increasing the likelihood of a bank or other financial institution granting a loan at a decent interest rate in the future.
That could bring down the cost of financing a home, vehicle, or business in your long-term plans.
Apply for more than one option
Several banks offer discounted prices on a credit card if you bundle it with your main transactional account.
For the purposes of this comparison, we only looked at standalone cards for readers who wanted the freedom to choose a card from another provider than their primary bank.
Our first observation was that most banks offered personalised interest rates on their credit cards, so it might be a good idea to apply for more than one to see which bank could give you the best deal.
Regarding predetermined fees, the TymeBank credit card was the most affordable option when combining monthly fees, SMS notifications, and international payment charges.
It also allows for secondary cards for family members at no charge.
However, it didn’t have the level of perks and features available from bigger banks with similarly-priced products — including Absa, FNB, Nedbank, and Standard Bank.
These banks’ credit card accounts offer digital wallet payment support that lets you link the card to Apple Pay, Samsung Pay, Google Pay, Fitbit Pay or Garmin Pay.
They also include or allow the optional add-on of membership to the banks’ rewards programmes, providing discounts or cash back on various products and services.
The tables below provide a breakdown of the features and costs of entry-level credit card accounts from banks in South Africa.
Entry-level credit card features | |||||
Bank | Minimum monthly income | Interest rate | Interest-free period | Maximum credit limit | Features and benefits |
African Bank Black | Unspecified | Personalised | Up to 62 days | R250,000 | Up to 3% annual interest back on positive (credit) balance Tap payments *Requires credit life insurance |
Absa Flexi Core | R2,000 | Personalised | Up to 57 days | R90,000 | Absa Rewards Tap payments All digital wallets supported Lost card protection R1.5 million automatic basic travel insurance Special travel offers from Agoda.com *Credit protection optional |
Capitec GlobalOne Credit | R5,000 R10,000 for self-employed |
Personalised: Prime to repo rate + 14% |
Minimum of 25 days Up to 55 days |
R500,000 | Capitec Live Better Rewards Tap payments Digital wallet support — Samsung Pay only Free travel insurance up to R5 million Up to 3.5% annual interest back on positive (credit) balance |
Discovery Bank Gold | R8,333 | Personalised | Up to 55 days | Unspecified | Discovery Miles Vitality Money Rewards Tap payments All digital wallets supported Free virtual cards Up to 4% annual interest on positive (credit) balance Free travel insurance Free Vitality Savings Account Free virtual cards |
FNB Aspire | R7,000 | Personalised | Up to 55 days | Unspecified | eBucks Rewards Tap payments All digital wallets supported Free virtual cards Purchase protection included Free international travel insurance Two free Slow lounge visits for flights booked on eBucks Travel Free debt protection in case of death or disability up to R5,000 |
Nedbank Gold | R5,000 | 20.25% | Up to 55 days | Unspecified | Greenbacks Rewards optional — R25 per month Tap payments Digital wallet support 50% off Nu Metro movie tickets Discount on car hire Purchase protection included Travel insurance optional |
Standard Bank Blue | R5,000 | Personalised: Prime minus 0.25% to repo rate + 14% |
Up to 55 days | R250,000 | UCount Rewards optional — R25 per month Tap payments All digital wallets supported 0% interest rate on 6-month budget payment option Free travel insurance up to R1 million |
TymeBank Credit | R3,000 | Personalised | Up to 55 days | Unspecified | 4x Smart Shopper Points earn Free secondary cards for family |
Entry-level credit card costs | |||||
Bank | Local point-of-sale transaction fee | SMS transaction notifications | International payment fee | Initiation Fee | Monthly fee |
African Bank Black | R0.00 | R0.40 | 2% of transaction value | R120.00 | R50.00 |
Absa Flexi Core | R0.00 | R0.60 | 2.75% of transaction value | R175.00 | R44.00 |
Capitec GlobalOne | R0.00 | R0.40 | Up to R200: R1.00 Over R200: R3.00 |
R100.00 | R51.50 |
Discovery Bank Gold | R0.00 | Unspecified | 2.75% of transaction value | Up to R2,000: R150.00 Over R2,000: R175.00 |
R80.00 |
FNB Aspire | R0.00 | Unspecified | 2% of transaction value | Up to R175.00 | R42.00 |
Nedbank Gold | R0.00 | R0.50 | 2% of transaction value | R180.00 | R40.00 |
Standard Bank Blue | R0.00 | R1.35 | 2.75% of transaction value | R180.00 | R40.00 |
TymeBank Credit | R0.00 | R0.00 | 2% of transaction value | R160.00 | R40.00 |