How to Apply for your Credit Card: Premium Absa Banking

Having a credit card available will always be a good idea for any emergency or need. Premium Abas Banking Credit Card is considered one of the best credit cards in South Africa as it offers a very good credit limit in addition to other benefits such as the possibility of getting rewards for using it, discounts, travel insurance, and online or in-store purchases.

To learn more about the Premium Banking Credit Card, here are some essential things you should know.

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Premium Absa Banking Credit Card Features

We explain some of the most outstanding features of this credit card from Absa Bank Group:

• The maximum credit limit is R138,000.00, your monthly account fee is R59.00, and the minimum monthly payment is 3% of the debt.
• You will have access to Absa’s digital banking known as Absa Banking, where you can review your account statements, report possible fraud, know your daily limit, and request the cancellation or replacement of your card, among other things. You will have access to this banking service every day, 24 hours a day.
• It includes free protection for lost or stolen cards.
• It has an Absa rewards system, in which you can earn up to a 30% reimbursement when paying at a national or international location.
• The premium Banking credit card includes Travel Insurance of up to R3,000,000.00 for a wide range of travel emergencies.
• This card also allows users to have 12 free accesses to the Bidvest Airport VIP lounge and preferential rates in case they require more.
• This card is Visa, therefore, the user can enjoy offers granted by Visa Global Merchant.
• You can make your payments directly from your smartphone, computer, or point of sale anywhere in the world.
• You can activate SMS notifications through NotifyMe, an option offered by this card.

Credit Card Application Requirements

To qualify for this card, you must meet certain requirements:

• Your minimum monthly income must be R25,000.00 or more.
• You must have a South African ID book or a smart card.
• You must be of legal age at the time of application, i.e., 18 years old or older.
• Proof of address less than three months old at the time of application.
• Proof of income for the last three months.
• Possess a good credit score.

If you do not meet these requirements, your card application will most likely be rejected. Make sure you have all of this documentation when you apply.

Fees and commissions for the Premium Absa Banking Credit Card

When we have a credit card, it is always essential that we are clear about all the fees and commissions associated with it so we can manage it better. Here are some of the fees to take into account:

• Monthly credit facility fee: R30.00
• Monthly account fee: R59.00
• Secondary card fee: R16.50
• Card life plan: 0.325% of the average outstanding balance of the month
• Cash withdrawals directly at Absa: R75.00+R2.10 for each R100.00 withdrawn
• Cash withdrawals at Absa ATMs: R11.50+R2.00 for every R100.00 withdrawn
• Absa-related ATM withdrawals: R6.00+R2.00 for every R100.00 withdrawn.
• Local cash withdrawals: R2.00
• Switch ATM: R2.00 for every R100.00 withdrawn
• Purchases with local and international credit cards: Free
• Account payments by Absa ATM or online: R10.00
• Internal and external debit orders: Free
• Transfer of funds at an Absa ATM, online or by mobile: Free
• Balance inquiry: Free
• Assisted telephone advisor: R7.00
• Bank statements stamped online: R8.00

Premium Absa Banking Credit Card Benefits

What makes us decide between one credit card and another are the benefits that each one can offer. The premium Bank Credit Card is one of the most requested. Thanks to all the advantages it offers. Here are some of them:

• The credit limit is up to R138 000. That is a pretty good amount.
• It gives up to 57 days interest-free to its users on certain transactions.
• It has no transaction fees on domestic or international purchases.
• You can pay the minimum amount and up to an extra amount if required.
• It offers a security system in case of theft or loss of the card.
• It has an extended warranty on goods purchased.
• The travel insurance is quite good and covers a wide variety of emergencies.
• It has life protection for its users to protect and cover the outstanding debt in the event of the client’s death, serious illness, or disability.
• The credit card has a fixed monthly payment which is always a good option for the user.
• With this card, you can participate in Absa’s rewards system, where you can enjoy offers, discounts, and rebates every time you use the card.
• To apply for it, you only need a minimum monthly income of R25,000.00, which is very low, considering that it is a private banking card.
• It offers 24/7 customer service.

Conclusion

Undoubtedly, if we compare the rates and cost of having the Premium Credit Card with all the advantages it offers, we realize it is well worth it. In addition to the basic benefits of a credit card, such as making online purchases, enjoying credits, and paying at international points of sale, you will also enjoy travel insurance, access to VIP lounges at airports around the world, offers, discounts, and refunds, among other things.

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