How to Qualify for Capitec Credit Card

Capitec Bank is a South African financial institution dedicated to offering innovative, digital banking solutions tailored to individuals’ needs, providing various services such as business banking, personal banking, loans, and credit cards. The bank’s international payment partners are Mastercard™ and Visa. Capitec Bank offers a Mastercard credit card to its clients, providing numerous benefits and competitive rates. In this article, we take a look at the several benefits of Capitec credit card, rates and fees, as well how to qualify for this credit card.

Benefits of Capitec Credit Card:

• Credit limit up to R500,000
• Get 1% cash back on all you spend – use our credit card online, in-store or add it to a digital wallet like Apple, Garmin, Google or Samsung Pay to make payments 
• Low interest rate from prime
• Free credit card delivery to your door
• Up to 55 days interest free
• Earn 3.0% per year on a positive balance
• Helps to build your credit record
• Free local swipes
• Optional credit insurance is available if you do not have your own
• Pay less fees when you spend overseas with zero currency conversion fees
• Free travel insurance up to R5 million

Capitec Credit Card Rates and Fees

Initiation fee: R100
Monthly fee: R50
Interest rate: 11.75% – 22.25% (based on your credit profile)

How to Qualify for Capitec Credit Card

To qualify for a Capitec credit card, you generally need to meet specific eligibility requirements, submit the required documentation, and pass a credit evaluation. These are:

• Original ID document (must be 18 years or older)
• Latest salary slip
• 3-month bank statement
• The minimum salary requirement for a credit card application is R5,000 and R10,000 for self-employed clients

Please be aware that even if you meet all other requirements, a poor credit record may prevent you from obtaining a credit card.

How to Pay For Your Credit Card:

There are two ways through which you can pahy for your Capitec Mastercard credit card. They are:

• Straight
  • Interest free – pay your full outstanding balance before the next credit card instalment due date
  • Up to 55 days to pay for purchases, interest-free
  • Minimum monthly payment of 5% on your outstanding balance
• Budget
  • Manage your money and repay purchases over a longer term
  • Up to 48 months to pay

You can apply for Capitec credit card online, on the bank app and in branch.