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African Bank
Earn up to 3% interest on positive balances, get up to R500,000 limit, and enjoy instant card issuance with extensive online and ATM flexibility.
The African Bank Black Credit Card stands out in the South African credit market by offering a competitive 3% pa interest on positive balances and up to 62 days interest-free on transactions. With a credit limit that can reach R500,000, applicants must meet terms, conditions, and affordability criteria. Once approved, customers receive a personalised, embossed card instantly at any branch, making the onboarding process impressively fast.
How to Apply: Step-by-Step Guide
- Gather your latest proof of income and a bank statement showing at least three months’ salary deposits.
- Ensure you are over 18 years old and meet the basic requirements.
- Complete the application in-branch, online, via the mobile app, or USSD code.
- If your application is successful, visit a branch for instant issuance and activation.
Key Benefits of the African Bank Black Credit Card
The card allows you to earn interest when your balance is positive, which is rare among local credit cards.
You can benefit from up to 62 days interest-free on purchases if you pay your balance in full by the due date.
Instant card issuance means you don’t have to wait for delivery or lengthy approval processes.
The card offers flexible payment options, including online banking, EFT, and in-branch payments, suited to South Africans’ needs.
Use it at any merchant with the Visa logo globally, including hundreds of online platforms.
Cons to Consider
Monthly service fees and initiation charges can add up, especially for occasional users. Additional fees apply for card replacements or certain transactions, such as withdrawals and declined payments.
The substantial credit limit may be tempting for overspending if you’re not disciplined and don’t monitor your usage.
Verdict: Is This Card for You?
If you want a premium credit card offering competitive interest on positive balances, instant card issuance, and generous interest-free periods, African Bank’s Black Credit Card is a compelling choice.
However, make sure you weigh up the ongoing costs and only apply if you are able to manage your finances responsibly.
