Credit cards for low credit scores South Africa

Credit cards are secured or unsecured loans that enable cardholders to purchase goods and services on credit. A secured credit card requires the cardholder to deposit a set amount of money as collateral in a specific account, whereas an unsecured credit card does not. Secured credit cards are frequently offered to those with bad credit in order to help them improve their credit ratings and become less of a danger to the lender. Fortunately, after demonstrating great debt repayment behaviour, you may upgrade your card to an unsecured credit card and have your collateral money restored to you. You should focus on being accepted, low card maintenance, and maintaining a strong credit history if you are a beginner or have a low credit score. Here are a few cards that will assist you in achieving your goal.

Capitec Global One Credit Card-

Anyone over the age of 18 with a monthly salary of R5000 can apply for the Capitec Global one credit card for a R100 initiation charge and an R40 monthly fee. Anyone without a credit card will receive credit insurance, as well as basic travel insurance.Your annual percentage rate (APR) is between 7.00 and 17.50 percent.

 

The Capitec Global One Credit Card has the following features:-

• On a positive balance, earn 2.25 percent interest each year.
• Credit limit of R250,000
• Up to 55 days of interest-free credit
• Personalised credit based on your financial situation and profile
• Pay a customised interest rate ranging from 7% to 17.5 percent each year.
• Conduct safe online transactions
• Use the bank's app to manage your credit card.
• Scan the QR code to pay with the bank's app.
• To pay with a credit card, simply tap the button.
• Take advantage of cashless transactions all across the world.

Absa Flexi Core Credit Card-

You must be 18 years old and have a monthly income of R2000 to qualify for the Absa Flexi core credit card. A valid South African ID, proof of income, and evidence of domicile are all required. A monthly fee of R14 is charged for the card. Your annual percentage rate (APR) is unique to you.

 

Absa Gold Credit Card-

The Absa gold credit card comes with a variety of features to assist you satisfy your credit demands at a low cost. Secure online shopping, in-store swipe, tap, or scan to pay with your card or Absa bank app at any POS machine globally are just a few of the advantages of owning this card. This card has a credit limit of R90, 000 and a monthly fee of R23. It is open to anyone with a monthly salary of R4000, subject to affordability. Your annual percentage rate (APR) is unique to you.

 

African Bank Gold Credit Card-

Anyone with a monthly salary of R5000 is eligible for the African Bank gold credit card, subject to affordability. This credit card charges a monthly fee of R69. Anyone who pays their credit before the due date gets a 60-day interest-free period, and anyone who has a positive amount gets a 3% annual interest rate. Your annual percentage rate (APR) is unique to you.

Bendigo Bank | Low Rate Credit Card (Australia) Review

Bendigo Bank is not one of the Big Four, but it provides a similar variety of banking goods and services. A Bendigo Bank credit card, which is available to consumers throughout Australia, can provide rewards, a balance transfer, Qantas Points, and other benefits. The method interest is computed on Bendigo Bank credit cards is also unique. While most credit cards charge interest from the day of purchase, Bendigo Bank charges interest from the date of statement issuance, possibly saving you up to 50% on interest payments.

Rate and fees -

• Annual fee This card charges a standard annual fee of $45.
• Purchase rate. Outside of any promotions, this card charges an 11.99% p.a. purchase rate, which is competitive with other low rate cards.
• Up to 55 days interest-free. Outside of any purchase rate offers, you can save with up to 55 days each statement period. This interest-free period consists of your 30-day statement cycle, plus the 25 days to the payment due date.
• Cash advances. If you make a cash advance transaction with this card, you'll be charged at the 13.99% p.a. variable interest rate. You'll also be charged a cash advance fee of 0.5% of the transaction amount or $3.25 (whichever is greater).
• International transaction fees. You'll be charged 3% of the transaction amount when you use your card for payments in a currency other than Australian dollars

Features and benefits –

• No fees for additional cardholders.
• 24/7 fraud monitoring and no liability for unauthorised transactions.
• Up to 55 days interest free.
• Interest is calculated from the statement date, not the date you made the purchase.
• Tap & go for contactless purchases.
• Use in store, online and withdraw local currency at millions of locations, everywhere Mastercard is accepted.
• Access to Mastercard Priceless® Cities exclusive experiences and special offers.

Advantages –

• 0% p.a. on purchases for 18 months
• Low annual fee of $45
• No fees for additional cardholders

Disadvantages-

• Purchase rate offer reverts to 11.99% p.a.
• Does not offer a rewards program or travel insurance covers

Eligibility Criteria -

• Rewards rate: 1 percent cash back on all purchases
• A new cardholder has arrived. You must not now have or have held a Bendigo Bank Low Rate in the last 12 months to be eligible for this offer.
• Age. To apply for this card, you must be at least 18 years old.
• Offer of a 0% purchasing rate. If you apply by February 28, 2022, you can get a 0% p.a. interest rate on purchases for up to 18 months. Any leftover debt beyond that term is subject to a regular purchase rate of 11.99 percent p.a. Keep in mind that throughout the interest-free time, you must also satisfy your minimum repayment obligations.
• Calculations of interest Bendigo Bank credit cards calculate interest from the statement date, rather than the date of purchase, as most credit cards do. When compared to the charges that would apply on most other credit cards, depending on when you make a purchase, this has the potential to practically reduce your interest expenses.

CONTACT NUMBER - 1300 001 153

St.George Vertigo card review

The St.George Vertigo Card offers one of the lowest regular purchase rates on the market (13.99 percent p.a.) and cardholders will have a leisurely 55-day interest-free period to make any repayments, but make sure you make those repayments on time, since there is a $15 late payment charge. The card's annual fee is also reasonably modest at $55, and St.George will waive it for new clients for the first year. The Vertigo credit card, being a Visa card, may be used everywhere Visa is accepted; however, if you want to pay with it overseas, keep in mind the 3.00 percent foreign exchange margin.

Key features:

The St.George Vertigo Card offers one of the lowest regular purchase rates on the market (13.99 percent p.a.) and cardholders will have a leisurely 55-day interest-free period to make any repayments, but make sure you make those repayments on time, since there is a $15 late payment charge. The card's annual fee is also reasonably modest at $55, and St.George will waive it for new clients for the first year. The Vertigo credit card, being a Visa card, may be used everywhere Visa is accepted; however, if you want to pay with it overseas, keep in mind the 3.00 percent foreign exchange margin. Speaking of paying, cardholders will also be able to pay with their Vertigo card via a Smartphone, as Apple Pay, Google Pay and Samsung Pay are all available. Now on to the Vertigo card's limited-time offers. New cardholders who successfully apply by 24 February, 2022, will be able to choose between either the 0% balance transfer offer or the 0% purchase rate offer. The 0% p.a balance transfer rate is available for 32 months and comes with no balance transfer fee, which could be a helpful option for anyone looking to pay off any of their existing credit card debt.

Just keep in mind that any outstanding balance transfer amount will be charged at the cash advance rate after the 32-month term expires, so make sure to pay it off ahead of time. Alternatively, with the 0% purchase rate offer, new cards may avoid paying interest for the first 18 months. When that time period expires, the intro purchase pricing will revert to the usual purchase rate.

 

Fees details –

ANNUAL CARD FEE	$55.00
INTRODUCTORY ANNUAL FEE	$0 in the first year
ANNUAL FEE SPEND THRESHOLD	none
REWARD PROGRAM FEE	none
LATE PAYMENT FEE	$15.00
CASH ADVANCE FEE	3%
FOREIGN EXCHANGE MARGIN	3.00%
DUPLICATE STATEMENT FEE	$0.00
TRANSACTION VERIFICATION FEE	$10.50
ADDITIONAL CARD FEE	$0.00

Advantages –

• 0% p.a. on purchases for 18 months
• $0 annual fee for the first year
• Additional cardholder at no extra cost

Disadvantages-

• No introductory balance transfer offer
• No rewards program
• Does not offer travel perks or insurance covers

Deserve EDU MasterCard for Students review

The Deserve EDU MasterCard may be of interest, particularly to overseas students. The card provides limitless 1% cash back and has a credit limit of $5,000. Though it lacks the plethora of incentives that many larger banks provide, the Deserve EDU does include a one-time bonus of a year of Amazon's Student Prime membership for individuals who spend $500 in the first three billing cycles. The benefit has a lifetime value of $59. It also provides up to $600 in cell phone damage and theft insurance. The Deserve EDU MasterCard has a variable APR of 18.74 percent Variable, making it a costly card to carry a load on, but it's not the worst student card available. Deserve EDU may be a good option for overseas students because it does not require a Social Security number. Because there are no international transaction or exchange costs, the card is a good choice for students studying abroad.

Major Highlights-

• Refer A Friend Program: Refer anyone to deserve using your personal referral code. Upon approval, card activation and use, you’ll receive $30 and so will your referral. Referral bonuses are unlimited!
• Manage and track your spending, set automatic payments and securely freeze your card all through one easy to use app.
• See if you prequalify with no impact to your credit score in minutes.
• Deserve MasterCard are issued by Celtic Bank, Member FDIC.
• Enjoy MasterCard Platinum Benefits intended to make your life easier like MasterCard ID Theft Prevention™ and Master Rental®.
• Receive one year of Amazon Prime Student on Deserve after spending $500 in the first three billing cycles with your EDU card (Lifetime Value of $59).
• Earn 1% Cash Back on all purchases with your Deserve EDU MasterCard. Once approved, you’ll automatically start earning cash back on all purchases.
• Feel secure with cell phone protection up to $600.
• No deposit required. No annual fees.
• No international transaction fees on purchases abroad so you can travel with confidence.
• No Social Security Number required for international students to apply.

Advantages –

• 1 percent cash back on all purchases
• No annual fee or foreign transaction fees
• No credit score or Social Security number required, making it a great choice for international students
• MasterCard Platinum benefits, including cell phone protection up to $600 per claim (up to $1,000 across two claims per year)
• Get reimbursed on your Amazon Prime Student membership (lifetime value of $59) for one year when you pay with your Deserve EDU Mastercard after spending $500 in the first 3 billing cycles
• No deposit required

Disadvantages-

• You won’t be able to make balance transfers or withdraw cash advances on this card
• 18.74% variable APR, which can be relatively high compared to some student cards
• Late payment fee of up to $25

Other Information –

• Rewards rate: 1 percent cash back on all purchases
• Welcome offer: Up to $59 of Amazon Prime Student subscription reimbursement after spending $500 in the first three months of card membership
• Annual fee: $0
• Purchase intro APR: N/A
• Balance transfer intro APR: N/A
• Regular APR: 18.74 percent variable

AIB 'be' Visa Card Review

A credit card may be a very valuable financial instrument, allowing you to do what you need to do while also providing you with the independence and peace of mind. Sometimes things happen that simply cannot wait until the end of the month. The AIB 'be' Credit Card puts you in charge and allows you to pay for those unexpected purchases. When you spend €5,000 or more in a 12-month period, you will receive introductory rates on purchases and balance transfers from 'be' Credit Cards.

Features and Benefits

• There is no yearly bank fee (the government charges a stamp tax of €30.00 each credit card account). Other charges and fees may apply (Fees, Charges and Important Information)
• Credit with no interest for up to 56 days, You can avoid paying interest if you pay your bill in whole and on schedule each month.
• Free 'be' Card No. 2 , You may add one more cardholder to your AIB Credit Card if the cardholder is a family member (defined as a parent, spouse, partner, sibling, or child over the age of 16) who typically resides at your residence.
• When you spend more than €5,000 in a 12-month period, you will receive a lower annual interest rate of 14.16 percent (variable).
• Explanation of a Lower Annual Interest Rate: reward you with a lower yearly interest rate with the 'be' Visa dependent on how much you spend in a year. When you spend €5,000 or more in a 12-month assessment period, the lower annual interest rate of 14.16 percent (variable) applies.
• The higher annual interest rate of 16.79 percent (variable) applies to cardholders who spend less than €5,000 in a 12-month assessment period. *If you incur any two incidents of Late Payment, Returned Payment, or Over Limit Fee within a 12-month assessment period, you will be charged interest at the higher annual interest rate beginning with the next statement date, regardless of spend.

Fees and Rates

• Purchases have a low annual interest rate of 9.11 percent (variable) (Fees, Charges and Important Information).
• There is no yearly bank fee (the government charges a stamp tax of €30.00 each credit card account). Other fees and charges may be charged.
• Annual Percentage Rate (APR): 13.8% (variable)
• Representative Example: Assuming you have a credit limit of €1,500 on your card and use your entire limit to make a single card purchase immediately after receiving your card, and you repay in equal monthly payments over 12 months at an interest rate of 9.11 percent variable (Representative 13.8 percent APR variable), the total amount you will pay back is €1,574.02, which includes a government stamp duty charge of €30.00. The interest would be €74.02.

Easy Payment

• Payment without receipt- Contactless payments are supported by the card. You can select to tap and pay where you see the contactless icon if the transaction is less than €50. Please click here for additional details.
• Payments via mobile devices Google PayTM and Apple Pay allow you to pay for your purchases fast and securely. With Google Pay/Apple Pay, just touch and pay for things costing €50 or less. Depending on the shop, you can pay for things worth more than €50 with Google Pay or Apple Pay.
• Salary Requirements - Minimum Qualifying Salary: €16,000

Card Limit

• You can choose your own credit limit. Using AIB Internet Banking, you can seek an increase in your credit limit (Subject to lending criteria)
• Spread out your payments. You choose how much you wish to repay with an AIB 'be' Credit Card, from the minimum (3 percent or €6.35, whichever is larger) to the whole outstanding sum.

Customer Care

If you have any questions, please call (01) 668 5500 (or +353 1 6685500 from outside the country). If your card is lost or stolen, please call 1800 24 22 27 (or +353 1 269 5022 from overseas) 24 hours a day, seven days a week.