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Capitec Bank
Low interest rates from 10.25% – 20.75%. Personalised limits, up to 55 days interest free, 1% cash back, free delivery and zero international fees.
The Capitec credit card is an inviting option for South Africans looking for straightforward features and practical benefits. With interest rates ranging between 10.25% and 20.75%, your rate depends on your personal credit profile, ensuring a fair approach. Cardholders can enjoy a personalised credit limit and up to 55 days interest-free on purchases, provided the balance is settled in full by the due date. Cash back rewards, at 1% of spend, make it easy to earn while you shop. Additionally, apply with a valid South African ID, recent salary slip, and a three-month bank statement. Minimum earnings required are R3,000 per month, or R5,000 if self-employed.
How to Apply: Step by Step
- Gather your original SA ID, latest payslip, and three months of bank statements.
- Ensure you meet the minimum monthly income criteria.
- Visit Capitec online, use the app, or go to a branch.
- Complete the application form and submit your documents for verification.
- Await approval and accept your personalised offer with limits and rates.
Top Pros of the Capitec Credit Card
Firstly, the incentive of 1% cash back on all purchases helps you save as you spend—both online and in-store. Free delivery of your card is a welcome perk, cutting out any hassle or extra cost. The card also stands out with zero currency conversion fees for overseas transactions, making it ideal for travellers.
Regular users benefit from up to 55 days interest-free, a major factor if you settle your balance monthly or plan large purchases. Plus, holding a positive balance means you’ll earn interest, further maximising your rewards.
Potential Cons to Consider
As with most credit cards, those with lower credit profiles may face higher interest rates, up to 20.75%. It’s also important to note the initiation fee of R100 and a monthly fee of R50—standard, but worth considering for budget-conscious users.
Minimum income thresholds might exclude students or part-time workers, so eligibility is primarily for those with a stable income.
Verdict: Is It Worth Applying?
The Capitec credit card offers a well-rounded package, especially for users who value cash back, competitive rates, and travel-friendly features. While fees exist, the overall value is strong if you use the benefits proactively. For most salaried or self-employed South Africans, it’s a sensible, rewarding choice.
