Capitec Credit Card: Conditions and main benefits

Unlock Financial Freedom with the Capitec Credit Card – Convenience and Rewards at Your Fingertips

Intended to give you financial independence, the Capitec Credit Card combines excellent value, affordable fees, and personalized benefits.

Whether you’re looking to manage your day-to-day expenses or make significant purchases, this card offers a flexible solution with a low interest rate and multiple payment options.

Ideal for individuals seeking convenience and rewards without the burden of excessive costs, the Capitec Credit Card is an excellent choice for all South Africans.

About the Capitec Credit Card

The Capitec Credit Card is a popular financial product in South Africa, known for its simplicity and value.

With a straightforward fee structure, a low monthly service fee, and a competitive interest rate, this card appeals to customers who want to manage their finances responsibly.

Whether it’s for travel, online shopping, or everyday purchases, the Capitec Credit Card offers flexibility and convenience, backed by Capitec’s renowned customer service.

Benefits and Advantages of the Capitec Credit Card

The Capitec Credit Card delivers numerous benefits that make it a leading choice for consumers. Take a look at the key features below:

• Low interest rates: One of the most competitive interest rates in South Africa, starting from 9.75%.
• No initiation fee: Unlike many other cards, Capitec does not charge an initiation fee for this credit card.
• Free purchase protection: Purchases made with the card are automatically covered for a specified period.
• Global acceptance: The Capitec Credit Card is accepted at millions of locations worldwide, making it perfect for international travel.
• Easy account management: Use the Capitec mobile app or online banking to manage your credit card, check balances, and track spending.
• Custom credit limit: You can request a credit limit that suits your financial needs, subject to approval.
• Cash withdrawals: Withdraw cash from ATMs or over-the-counter at Capitec branches.
• Up to 55 days interest-free: Make purchases and pay no interest if you settle the full balance within 55 days.
• Mobile payments: Capitec supports secure mobile payments, offering a faster and safer way to pay.

Fees and Charges

One of the most appealing aspects of the Capitec Credit Card is its transparent and competitive fee structure. Here are the primary fees associated with this card:

• Monthly service fee: 40 ZAR per month, which covers account maintenance and access to the Capitec banking app.
• Interest rate: A competitive interest rate that starts at 9.75% per annum, subject to your credit profile.
• Cash advance fee: 2.50 ZAR per 100 ZAR withdrawn at ATMs, with a minimum charge of 15 ZAR per transaction.
• Late payment penalty: 75 ZAR, applied if payments are not made on time.

These fees are designed to ensure that cardholders have a cost-effective way to manage their finances without being burdened by excessive charges.

Minimum Income Requirements

To apply for the Capitec Credit Card, applicants must meet the following income criteria:
A minimum monthly income of 3,500 ZAR is required to qualify for the Capitec Credit Card.
If you don’t meet this income requirement, Capitec offers other financial products that might be better suited to your financial profile, including personal loans and savings accounts.

Annual Fee

The Capitec Credit Card does not charge an annual fee, making it one of the most affordable credit cards in South Africa. This cost-effective feature, combined with its low monthly service fee, makes it highly attractive for individuals who want a reliable credit card without high yearly costs.

Credit Limit

Your credit limit on the Capitec Credit Card is personalised based on your credit profile and income. For many customers, this limit starts from 5,000 ZAR, but it can increase depending on your financial situation and creditworthiness. You can also request an increase in your credit limit after a few months of responsible use.

How to Apply for the Credit Card

You can easily apply for the Capitec Credit Card online or in person. Follow these steps to complete the process smoothly:

1. Visit the Capitec website or app: Head to the credit card section on Capitec’s site or log into the mobile app.
2. Complete the application form: Provide your personal and financial information, including your monthly income and employment status.
3. Upload documents: You will need to submit your South African ID, recent payslip, and proof of residence (no older than three months).
4. Submit and wait for approval: Once your documents are verified, Capitec will assess your application. You will receive feedback via SMS or email.
5. Collect your card: Once approved, you can pick up your Capitec Credit Card from your nearest branch, or it can be delivered to your address.

Contact Capitec

If you have any queries or need assistance with your application, you can reach Capitec via the following channels:

• Phone: Call 0860 10 20 43 for help with your credit card or any other banking services.
• Email: Send an email to [email protected] for detailed inquiries.
• Branch: Visit your nearest Capitec branch for face-to-face assistance with your credit card application or account management.