Even with all the fees and interest that are involved with a credit card, it is a very convenient card to have. That is especially true if you are a global trotter and need to do purchases abroad.
But you still need to use it responsibly, if you want to have all the benefits at your disposal. And it might be a safer alternative to cash wherever you may travel and more convenient to use with foreign purchases.
But there still are many risks involved with any type of credit card, no matter the benefits. We take a closer look at the option to request a credit card by Cell phone.
Fees and Interest
There are a number of fees involved with a credit card to maintain it and still make use of all the benefits.
Following is all the fees and interest rates you might get from your Capitec credit card.
The initiation fee of R100 is a startup fee to get your credit card initiated.
You also have a monthly fee of R40 to maintain your Capitec credit card.
With Capitec credit card you have an annual interest rate of 7 percent and up to 17.5 percent, depending on your credit status.
The Capitec Credit Card comes with a 7% annual interest fee only for the most reliable clients. Otherwise, you will have to pay up to 17.5%.
You must pay at least 5% per month for the balance that you have used — You will get 55 days to pay the minimum, without affecting your credit score
How to Apply
It will take only a few minutes of your time to apply for a credit card at Capitec Bank South Africa. After approval, it will also take not long to take your credit card in possession to start using it with the full benefits.
Go to your nearest Capitec branch and take your ID as well as the latest payslip with you to the bank and apply for it over the counter. To be eligible for a credit card you need to be 18 years and older and provide proof that you are a permanent resident of South Africa.
It will also be requested from you to have 3 months’ statements from your bank available to them. If you are a business owner, you need to have bank statements of the last 6 months available as well as proof of other assets.
To find a Capitec Bank branch close to you, simply go to this online branch locator and find it quickly and easily. For your convenience, you can also have all the features at your fingertips with the smartphone app available for all mobile platforms.
For Android users, you can easily get the app from the Google Play Store and install it for free on your smartphone. And if you are using iOS devices just go to The App Store and get it free of charge to download and install on your mobile device.
Bank Contact Details
For the customer care center of Capitec Bank, you can easily phone the following number: 0860 10 20 43 which is available 24 hours.
The Capitec Bank Holdings Limited information manual has some great information.
Postal Address: P O Box 12451, Die Boord, Stellenbosch, 7613
Physical Address: 1 Quantum Street, Techno Park, Stellenbosch, 7600
Telephone number: (021) 809 4599
Fax number: (021) 880 1840
Email address: firstname.lastname@example.org
Features and Benefits
Here are some of the most important features and benefits to consider.
- Quick and easy access to all of your accounts
- You can earn 2.25 percent on a positive balance
- Also included is a 55 day interest-free period for everyday purchases
- Get personalized credit based on your affordability
- You can also get a credit limit of up to R250 000
- Secure online purchases
- Access all of your accounts with the mobile app
With the Capitec Bank credit card, there are no fees involved when you travel abroad and make use of foreign currency. That means when you are traveling you will have no problem with fees for any type of transaction.
There will also be no currency conversion fees involved when you use your Capitec Bank credit card anywhere in the world. And you can sit at home and order anything from anywhere and you will pay no fees on your purchases.
As you can see this is quite an easy credit card with a lot of great features included to make your life much easier. And the fact that there are no currency conversion fees involved, makes this card perfect for the regular traveler.
Note: Keep in mind that there always are risks involved when you apply for a credit card at a financial institution. Go to the terms and conditions page of Capitec Bank SA for more information regarding fees and interest.