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.