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African Bank
Earn up to 3% interest on positive balances, up to R500,000 credit limit, instant card issue and up to 62 days interest-free on POS purchases.
The African Bank Black Credit Card positions itself as a standout choice for South Africans wanting both flexibility and value. Boasting a credit limit of up to R500,000, the card caters to a range of spending needs. Cardholders enjoy up to 3% interest on positive balances and can take advantage of up to 62 days interest-free, provided their balance is settled in full by the due date. The interest rate on credit is 3% per annum on positive balances, and instant issuance means you walk away with your card the same day you’re approved.
How to apply: Step by Step
- Gather your most recent proof of income and a bank statement showing 3 months of salary deposits.
- Ensure you are 18 years or older.
- Apply online or visit an African Bank branch for an instant approval process.
- Once approved, visit any branch to receive your personalised, embossed card immediately.
- Activate your card and start enjoying its benefits right away.
What We Like
The ability to earn interest on positive balances is a clear win, putting money back in your pocket. The impressive credit limit and global Visa acceptance ensure it fits nearly any lifestyle. Instant card issuance adds superb convenience, eliminating the traditional waiting period.
Flexible repayments and diverse payment options are an excellent bonus. The app and online banking are free to use – even data-free – making account management straightforward.
What Could Be Improved
There is a monthly service fee and other transaction charges, some of which are higher than competitors, especially for replacements and overseas withdrawals.
Full benefit realisation depends on strong financial discipline, including settling monthly balances to take full advantage of interest-free periods.
Our Verdict
The African Bank Black Credit Card stands out for those seeking flexibility, a high limit, and unique features like interest on positive balances. It’s particularly rewarding for disciplined spenders who settle their debts each month. While some fees could be steep for frequent cash or international transactions, the overall combo of benefits makes it a notable contender in South Africa’s credit card landscape.
