FNB offers its credit card with a prime + 2% introductory rate for new budget facility purchases (valid between November 2024 and January 2025), making it particularly attractive for those looking to minimise interest payments on larger expenses. Depending on your annual income, you could qualify for an Aspire, Premier, Private Clients, or Private Wealth card, each with its own set of benefits. The card also brings up to 55 days of interest-free purchases on the straight facility when you settle your balance monthly, enhancing budgeting flexibility. Credit limits depend on your financial profile, but FNB lets you adjust these limits via its user-friendly banking app, keeping you firmly in control.

How to Apply: Step-by-Step

• Check your eligibility (minimum income R60,000 per year for Aspire).
• Gather required documents: payslip, three months’ bank statements, SA ID, proof of residence.
• Apply online through the FNB website or in-branch.
• Complete the application form with accurate details.
• Submit documents and await approval.

Key Pros

One of the biggest advantages is the 55 days interest-free on straight purchases, which rewards disciplined monthly repayments. Access to the budget facility also allows you to pay off large purchases over up to 60 months, with competitive rates for a limited period.

The digital experience is exceptionally smooth using the FNB App, where customers can manage card settings, freeze or unfreeze cards instantly and easily download statements. The strong eBucks rewards structure offers monthly incentives based on transaction behaviour and product usage.

Key Cons

The promotional interest rate on the budget facility is temporary, and after January 2025, standard rates will apply, which may rise depending on your profile. Not all applicants will qualify for the top-tier cards or the full range of credit features, as FNB applies stringent affordability assessments.

Furthermore, incurring interest on cash withdrawals and fuel transactions from the date of transaction can negate some of the interest saving potential if not managed carefully.

Verdict

The FNB Credit Card stands out for its initial low rates for new purchases, flexible payment features, and a seamless digital experience. It offers effortless control and rewards for responsible spending, making it a top choice for most South African consumers seeking convenience, budgeting flexibility and meaningful rewards. Just ensure you meet the income criteria and manage repayments to maximise these benefits.