Absa is one of South Africa’s leading banks as a subsidiary of Barclays Bank PLC. Formed in 1991 Absa is a South African leader of BEE with the formation of the Absa Black Economic Empowerment policy which is based on a long term strategy following an integrated approach to BEE.
Absa offers a range of credit cards which have been designed to suite the needs and income of all South Africans, giving the general population a chance of financial empowerment. The Absa Credit Card allows users the power to purchase items online and at credit with an interest free period. This interest free period means that applying for credit with Absa can result in little additional cost. Be sure to compare the different Absa credit cards to see which one will meet your financial needs.
| CARD |
SUITABLE INCOME (per month) |
MONTHLY FEE (+ transaction fees) |
INTEREST FREE PERIOD |
INTEREST RATE (VARIABLE)
|
| ABSA Platinum Credit Card |
R25000 + | R35.00 | Up to 57 days | 15.5% – 17.5% |
| ABSA Gold Credit Card Affinity Card Available |
R10000 + | R16.00 | Up to 57 days | 19.5% |
| ABSA Silver Credit Card Affinity Card Available |
R4000 + | R12.00 | Up to 57 days | 20.5% |
| ABSA Classic Credit Card |
R2000 + | R16.00 | Up to 57 days | 20.5%- 24.5% |
| ABSA Electronic Credit Card |
R2000 + | R16.00 | Up to 57 days | 20.5%- 24.5% |
| ABSA Private Credit Card |
R750000 + per annum |
R53.00 | Up to 57 days | 12.5% |
| ABSA Student Credit Card |
Full Time Students 18- 29 years of age R200 + |
N/A | Up to 57 days | 20.5% |
| ABSA Garage Credit Card |
N/A | N/A | N/A | Calculated on purchases from transaction date |
ABSA Credit Card Transaction Fees
No transaction fees are charged to ABSA customers using ABSA Atm’s (excluding deposits) for Private Bank Customers.
| Transaction |
Charge |
| Credit Card Purchases | N/A |
| Garage Card Transaction Fee | R3.50 |
| ABSA ATM Cash Deposit | R1.05 per R100.00 (or part thereof) |
| Branch Counter Cash Deposit | R3.75 + R1.10 per R100.00* |
| ABSA ATM Cash Withdrawal | R3.75 + R1.05 per R100.00 |
| ABSA supported ATM Cash Withdrawal | R6.75 + R1.05 per R100.00 |
| Saswitch ATM Cash Withdrawal | R9.75 + R1.05 per R100.00 |
| Branch Counter Cash Withdrawal (domestic branch) | R20.00 + R1.10 per R100.00 (max R500)** |
| Overseas ATM/ Counter Cash Withdrawal | R45.00 (currency conversion fee of 2% of the Rand value of the transaction applies to transactions outside S. Africa) |
| ABSA ATM Account Payment | R3.75 + R0.75 per R100.00 (max R15,00) |
| ATM Fund Transfer | R3.15 |
| Branch Counter Fund Transfer | R20.00 |
| ABSA ATM Balance Enquiry | R1.00 |
| ABSA ATM Mini Statement | R1.50 |
| ABSA-supported ATM Balance Enquiry | R2.95 |
| Notify me SMS/ email message | R0.48 |
| Saswitch ATM Balance Enquiry | R3.35 |
| Lost Card Administration Fee | R98.00 |
| Replacement Card Fee | R98.00 *** |
| Non ABSA ATM Fee (apart from Saswitch) | R3.00 |
| Saswitch ATM Fee | R6.00 |
*R3.75 base fee plus R1.10 for every R100 or part there of
**R20.00 base fee plus R1.10 for every R100 or part there of up to a maximum fee of R500.00
***The bank may charge a replacement fee for all circumstances other than that that is outside the customers control
TIPS to REDUCE your Credit Card Fees
• Use your credit card for purchases rather than withdrawing cash. This gives you the following benefits:
• Use your credit card for purchases rather than withdrawing cash. You receive the benefit of up to 57 days interest-free on purchases (excluding cash withdrawals, casino transactions, Internet banking transfers, fuel purchases and budget plan purchases) where all outstanding balances on the credit card account were fully paid by the due dates. Terms and conditions apply.
• Free purchase transactions.
• Please note that Cash and Garage transactions are not included in the interest free period, as interest is charged from the date of transaction.
• Take advantage of these benefits and use your credit card for all purchases, there is no limit to the number of transactions and no transaction fee, regardless of the cost of the item purchased.
• Transfer payments electronically (using internet, cellphone or ATM) to your credit card to avoid paying cash deposit fees.
• Transfer money onto your credit card each month to earn extra interest. Absa credit cards offer very competitive credit interest rates.
• The fees noted in this section are effective as at 1 June 2009 and are subject to change.