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Absa Premium Credit Card

Geovana Ramos
December 1, 2023

The Absa Premium Credit Card offers a unique blend of practicality, rewards, and financial security. Designed with the customer’s needs in mind, this card provides exclusive benefits that elevate your financial experience.

Experience global versatility with the Absa Premium Credit Card, backed by the trusted MasterCard brand. Enjoy seamless transactions and worldwide acceptance, making this card a reliable companion for all your financial activities.

Discover how the Absa Premium Credit Card can transform your financial journey with its innovative features and unparalleled advantages. Keep reading to learn more about why this card is the perfect choice for you.

About the Absa Bank

Absa Bank is one of the largest financial institutions in South Africa, known for its wide range of banking products and services, including current accounts, investments, and credit cards. Founded in 1991, the bank has a long history of customer service and innovation in the financial sector.

Absa is part of the Barclays group, one of the largest banking networks in the world, providing its customers with access to a global network of financial services. This association allows Absa to offer world-class financial solutions while maintaining a strong focus on the South African market.

Committed to the security and convenience of its customers, Absa Bank constantly invests in advanced technology and secure banking practices. This includes implementing robust security systems to protect customers’ transactions and personal information, ensuring peace of mind and confidence when using their financial services.

Card Benefits

Digital Ease: Access digital convenience with the MasterPass app, a secure virtual wallet to store your cards, making your shopping more efficient.

Advanced Security: Benefit from chip and PIN technology to ensure maximum security in your transactions, providing peace of mind and protection.

Travel in Style: Enjoy an exclusive travel lifestyle with complimentary concierge services, enhancing your convenience during journeys.

Cash Rewards: Earn cash rewards on all your purchases, helping you save while you spend.

Free Legal Assistance: Access free legal assistance, ensuring you have legal support when needed.

Global Acceptance: Use your card anywhere in the world where MasterCard is accepted, providing freedom and flexibility.

Absa Premium Fees and Commissions

The Absa Premium Credit Card provides up to 57 days of interest-free credit on qualifying transactions, followed by a variable interest rate. The monthly account fee is R67, with an additional R30 monthly credit facility fee. Purchases incur no transaction fees, except for airtime, data, utilities, and Lotto.

ATM withdrawals at Absa ATMs are free up to R4,000 per month; beyond this, extra charges apply. The card includes free lost card protection and automatic basic travel insurance of up to R3 million for international emergencies.

Please note that fees and charges are subject to change without prior notice. Always check the latest information before making financial decisions.

Positive points

Interest-free grace period:
Enjoy up to 57 days of interest-free credit when paying off the full balance.
Free Legal Assistance:
Access free legal assistance, enhancing your personal protection and support.
Global Acceptance:
Use the card worldwide where MasterCard is accepted, ensuring convenience in global transactions.

Negative points

Minimum Income Requirement:
A minimum monthly income of R25,000 is required to qualify.
Credit Score Requirement:
A good to excellent credit score (625 to 780) is necessary for approval.
Monthly Fees:
The card has a monthly account fee of R67 and an additional credit facility fee of R30.

Credit card limit

The Absa Premium Credit Card offers a credit limit that can reach up to R138,000. This limit is determined based on an individual credit assessment, which considers factors such as income, credit history, and repayment capacity.

The bank periodically reviews accounts and may increase the credit limit based on responsible card usage. This ensures that customers have the flexibility and purchasing power they need while maintaining financial stability.

How to apply for Absa Premium

Visit the Absa Website:
- Go to the Absa website and find the credit card application page.
Click on “Apply Now”:
- On the application page, click the “Apply Now” button to begin your application.
Complete the Application Form:
- Fill out the form with your personal and financial details.
Submit Required Documents:
- Prepare and submit the following documents:
- Valid South African ID or Smart card
- Proof of residence
- Proof of income for the last three months
Review and Submit:
- Check all information for accuracy and submit your application.