The Capitec Credit Card stands out with a 1% cash back on all purchases and a low initiation fee of R100. Monthly fees are set at R50, and interest rates range from 10.5% to 21%, tailored to your credit profile. Personalised credit limits are available, and Capitec even delivers the card to your door for free.

Step-by-Step Application Process

1. Gather your original South African ID, latest salary slip, and 3 months’ bank statements.
2. Ensure you meet the minimum income requirement: R3,000 (R5,000 for self-employed applicants).
3. Apply via Capitec’s user-friendly app, through online banking, or by visiting your local branch.
4. Submit your documents and await approval. The process is straightforward and typically quick.

Why Consider the Capitec Credit Card?

One significant advantage is the 1% cash back on every spend with no complex exclusions. There’s also zero currency conversion fee, saving frequent travellers money.

Capitec offers up to 55 days interest-free on purchases and includes free travel insurance up to R5 million. Free card delivery adds further convenience.

Drawbacks to Consider

A primary downside is the income requirement which can be high for some potential applicants, especially the self-employed.

Interest rates are variable and can reach 21% depending on your credit profile, so not everyone will get the lowest rate offered.

Our Verdict

Capitec’s Credit Card is a versatile and competitive option, especially for those looking for easy rewards, low fees, and a simple application process.

If you meet the income requirements and seek a card with tangible benefits, this is a strong choice. However, compare your offers to ensure you get the best rate.