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Capitec Credit Card

Geovana Ramos
dezembro 15, 2023

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The Capitec credit card stands out as a comprehensive financial option, offering benefits like 1.5% cashback on spending and deposits, and free credit card delivery.

Additionally, it provides up to 55 days of interest-free purchases, allowing flexibility and optimal cash flow management.

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With no currency conversion fees for international transactions and convenient cashless payments, it’s perfect for travelers. Keep reading to discover more amazing features of the Capitec card!

About the Capitec:

Capitec Bank is one of the largest financial institutions in South Africa, renowned for its innovative and customer-centric approach. Established in 2001, the bank quickly gained prominence by offering simplified and accessible banking services to a broad customer base.

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With a strong emphasis on technology, Capitec has become a leader in the digital banking sector. The bank’s mission is to simplify financial life for its clients by providing straightforward, affordable, and transparent banking solutions. Capitec serves millions of customers through its extensive network of branches and robust digital platform.

Capitec is also recognized for its financial inclusion initiatives, offering banking products to a wide segment of the population. Committed to security and continuous innovation, Capitec ensures clients have access to the best financial tools available, enhancing their overall banking experience.

Card Benefits

Cash Back: Earn 1% cash back on all purchases made using the card or digital wallets. This means that for every R100 spent, you’ll get R1 back, helping you save money effortlessly on every transaction.

No Currency Conversion Fees: When you make purchases overseas, you won’t have to worry about additional fees for currency conversion. This can lead to significant savings when traveling or shopping from international retailers.

Interest Rate: The card offers competitive interest rates starting from the prime rate. This lower interest rate helps you save on interest payments compared to higher-rate credit cards.

Free Delivery: The convenience of having your credit card delivered directly to your doorstep at no extra cost. This service saves you the time and hassle of visiting a branch to collect your card.

Free Local Swipes: You can swipe your card for purchases within South Africa without incurring any additional fees. This benefit ensures that you’re not paying extra every time you use your card for local transactions.

Interest-Free Period: Enjoy up to 55 days of interest-free purchases. This grace period allows you to manage your cash flow better by paying off your balance before interest is charged.

Travel Insurance: The card includes travel insurance coverage of up to R5 million. This comprehensive insurance provides peace of mind and financial protection while you’re traveling, covering medical emergencies and other unexpected events.

Earn Interest: Earn an attractive 3.5% interest per year on any positive balance in your credit card account. This feature helps your money grow, even when it’s just sitting in your account.

Credit Building: Using the Capitec credit card responsibly can help build and improve your credit record. A good credit record can benefit you in the future when applying for loans or other credit products.

Capitec Fees and Commissions

The Capitec credit card comes with an initiation fee of R100 and a monthly fee of R50. Interest rates vary between 11.75% and 22.25%, depending on your credit profile. There are no fees for foreign currency conversions, and you can benefit from up to 55 days of interest-free purchases.

A minimum monthly payment of 5% of the outstanding balance is required, ensuring manageable financial planning. This card offers flexibility and convenience for everyday use.

Rates and fees are subject to change without prior notice. Please check Capitec official website for the latest information.

Positive points

Low Fees:
The card has an affordable initiation fee of R100 and a monthly fee of R50.
Interest-Free Period:
Enjoy up to 55 days of interest-free purchases, which helps manage cash flow effectively.
No Foreign Currency Fees:
Save on international transactions with no currency conversion fees.

Negative points

Minimum income criteria required:
For the application of our credit card, it is indispensable to meet specific requirements. The minimum income required is R$5,000 for salaried employees and R $ 10,000 for self-employed customers.
No rewards program:
In full transparency, we clarify that our credit card does not include a loyalty or rewards program.
No airport Lounge benefits:
It is important to note that our card does not currently offer lounge access benefits at the airport.

Credit card limit

The Capitec credit card offers a credit limit of up to R500,000, providing significant purchasing power for a wide range of financial needs, from everyday expenses to larger, more substantial purchases. The actual limit granted will depend on your individual credit profile and financial situation.

This flexibility allows users to manage their spending effectively while enjoying the benefits of a higher credit limit, making it a versatile option for various financial scenarios.

How to apply for Capitec

Online Application: Visit the Capitec Bank website, navigate to the credit card section, and click ‘Apply Now’. Fill out the online form with your details.
Required Documents: Prepare your South African ID, proof of income (recent payslips), and the latest bank statements for the last three months.
Submit Application: Complete the form, upload documents, and submit your application for review.
Approval Process: Capitec will assess your credit profile. If approved, you’ll be notified and your card will be delivered.
Activation and Use: Activate your card following the provided instructions and start using it for purchases, enjoying the card’s benefits.