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Absa Student Credit Card

Geovana Ramos
December 1, 2023

The Absa Student Card stands out as an exceptional choice for students seeking practicality, security, and financial benefits. Designed specifically for students, it offers a range of features that simplify financial management during academic years.

With digital banking, students can easily manage accounts, track expenses, and make payments from anywhere. Robust security measures protect all transactions against fraud, providing peace of mind.

Additionally, the Absa Student Card has no monthly fees, making it affordable. The attractive rewards program offers cashback on purchases, ensuring a worry-free and rewarding financial experience. Keep reading to discover more about how this card can enhance your financial journey.

About the Absa Bank

Absa Bank ranks among the largest banks in South Africa, offering a diverse array of financial services. It serves both individuals and businesses with innovative and accessible financial solutions.

Established in 1991, Absa Bank is renowned for its dependability and commitment to excellence. The bank continuously enhances customer experience by investing in cutting-edge technology and innovative services.

Being part of the Barclays Africa Group, Absa enjoys a robust global financial presence. This partnership allows Absa to provide a wider range of services and benefits to its clients, both domestically and internationally.

Card Benefits

Monthly Fee Waiver: The Absa Student Card has no monthly fees, making it an affordable option for students. This allows students to manage their finances without the burden of additional costs.

Digital Banking: With digital banking features, students can easily manage their accounts, track expenses, and make payments from anywhere. This convenience simplifies daily financial management.

Robust Security: Advanced security measures protect all transactions against fraud and unauthorized use, providing students with peace of mind when using the card.

Emergency Travel Coverage: The card includes emergency travel coverage, offering security and support when traveling abroad. This ensures that students are protected in case of emergencies during their trips.

Comprehensive ABSA Support: Cardholders have access to Absa comprehensive support, which is always ready to assist them promptly. This includes help with any issues or questions related to the card.

Rewards Program: The attractive rewards program of the Absa Student Card offers cashback on purchases, allowing students to enjoy exclusive benefits and save money on their everyday spending.

ABSA Mobile App: The Absa mobile app makes expense tracking easy, helping students monitor their finances, detect suspicious activities, and maintain control of their spending efficiently.

Absa Student Fees and Comissions

The Absa Student Credit Card has no monthly fee and offers up to 57 days of interest-free transactions on qualifying purchases. There are no transaction fees on purchases, except for prepaid airtime, data, utilities, and lottery tickets, making it an economical choice for students.

A cash advance fee of 3% of the amount withdrawn or a minimum of R40 applies, along with a late payment fee of R50 if the minimum payment is missed. For foreign currency transactions, a fee of 2.75% of the transaction amount is charged.

Positive points

Convenient Payments:
Swipe, scan, or tap to pay at point-of-sale machines worldwide.
Secure Purchases:
Secure transactions both online and in physical locations.
Rewards and benefits:
Earn cashback with Absa Rewards and instant perks with Absa Advantage through the Internet Banking App.

Negative points

Minimum Income Required:
Minimum monthly income or allowance of R800.
Mandatory Documentation:
Must present a valid South African ID, proof of residence, and proof of income for the last three months.
Student Enrollment Requirement:
Must be a full-time student at a recognized institution.

Credit card limit

The credit limit for the Absa Student Credit Card is determined based on an individual assessment of the applicant, considering a minimum monthly income or allowance of R800. Absa adjusts the limit according to the student’s payment capacity and financial history.

This adjustable limit helps students manage their expenses responsibly and build a positive credit history, which is essential for future financial transactions and credit applications.

How to apply for Absa Student

Eligibility Requirements

Age: 18 to 30 years old.
Income: Minimum monthly income or allowance of R800.
Student Status: Full-time student at an FET college, SAQA-approved institution, university, university of technology, or private institution.

Required Documentation

Identification: Valid South African ID book or smart card.
Proof of Residence: Utility bill or similar document.
Proof of Income: Last three months (if applicable).
Proof of Registration: Full-time student status at a recognized institution.

Application Methods

Online: Visit the Absa website, complete the form, and upload required documents.
In-Person: Visit an Absa branch or Student bureau with required documentation.