Introducing the Capitec Credit Card

The Capitec Credit Card delivers a competitive interest rate, starting from 10.5% and varying according to your credit profile. The card offers access to credit with up to 55 days interest-free for settled balances, and comes with a fixed, low monthly fee of R50. With a simple once-off initiation fee of R100, Capitec ensures the application process is easy and transparent.

Uniquely, cardholders earn 1% cashback on all spending, whether online, in-store, or using their digital wallet. Free delivery of your new card and 1GB monthly Capitec Connect data are also included among significant highlights, maximising convenience and value.

When travelling, enjoy extra benefits like zero currency conversion fees and free travel insurance up to R5 million. These features position Capitec’s offering as one of the most comprehensive credit cards on the South African market for lifestyle and travel.

How to Apply: Step by Step

1. Prepare your South African ID and proof of income
2. Ensure your salary is at least R3 000 (R5 000 for self-employed)
3. Gather your latest salary slip and recent three-month bank statement
4. Apply online, with the Capitec app, or at your nearest Capitec branch
5. Complete the quick verification and receive your credit decision

Pros of the Capitec Credit Card

Capitec sets itself apart by offering 1% cashback on all purchases, providing a direct saving on everyday spend which is rare among local banks. Free monthly Capitec Connect data is a handy addition, rewarding clients who stay digitally connected.

Furthermore, international usage is stress-free with zero currency conversion fees, making the card attractive for travellers. Insurance benefits up to R5 million add considerable peace of mind for trips abroad. The free delivery adds further convenience, eliminating the need to collect the card in person.

Cons to Consider

The personalised interest rate can rise to as much as 21%, depending on your credit profile. This may result in higher borrowing costs for applicants with less-established credit histories.

Applicants must meet a minimum net income threshold and supply detailed documentation, which could limit accessibility for new workers or those with variable income. The R100 initiation fee, while modest, is a once-off charge to factor into your decision.

Verdict

Overall, the Capitec Credit Card offers one of the strongest value propositions in the South African credit card market. Its blend of loyalty rewards, free delivery, zero forex fees and travel insurance will appeal to a wide range of clients.

If you meet the application requirements and value cashback, digital services, and transparency in rates and fees, Capitec’s credit card deserves strong consideration.