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African Bank Black Credit Card

Geovana Ramos
December 6, 2023

The African Bank Black credit card is crafted for sophisticated consumers seeking convenience, security, and flexibility in financial transactions. With exclusive features, this card offers a premium experience that stands out.

One of its standout features is global acceptance. Cardholders can make purchases and withdraw cash at any merchant or ATM displaying the Visa logo, ensuring unparalleled convenience for international travel or local shopping. This extensive network allows access to funds whenever and wherever needed.

Additionally, the African Bank Black prioritizes financial security. Unlike cash, which can be easily lost or stolen, the card can be quickly blocked and replaced if necessary, minimizing potential damage. Personalized transaction limits give precise control over spending, helping avoid unexpected charges. Continue reading to discover more details and benefits.

About the African Bank:

African Bank is a leading financial institution in South Africa, committed to financial inclusion and economic development. With a strong network of branches and digital services, it offers a wide range of financial products for individuals and small businesses.

Founded in 1975, African Bank is known for its innovation and customer-centric approach, heavily investing in technology to provide accessible and efficient banking services.

The bank is also dedicated to social responsibility, implementing programs to improve financial education and support local communities, promoting financial inclusion and sustainable economic growth.

Card Benefits

Global Acceptance: The African Bank Black credit card is accepted globally at all merchants and ATMs displaying the Visa logo. This widespread acceptance provides you with the convenience of making purchases and withdrawals anywhere in the world, ensuring access to your funds during travel.

Enhanced Security: The card offers superior financial security compared to cash. It incorporates advanced security features such as chip technology and one-time passwords for online transactions to protect against fraud. In case of loss or theft, you can easily block the card and request a replacement, minimizing potential financial losses.

Personalized Control: Cardholders can set personalized transaction limits, allowing for precise control over spending. This feature helps prevent unexpected charges on your invoice and aids in better financial management.

Interest-Free Period: Benefit from up to 62 days of interest-free credit on point-of-sale (POS) and online purchases, provided the outstanding balance is paid in full by the due date. This allows for significant financial flexibility and savings.

Earn Interest on Positive Balances:
Maintain a positive balance on your card and earn up to 3% interest annually. This feature helps increase your funds while you continue to use your credit card.

Easy Refunds and Online Services: The card offers easy refunds and provides secure online and mobile banking services. These services allow you to manage your account, track spending, and make payments conveniently from anywhere.

Credit Life Insurance: Credit life insurance is included, providing peace of mind in case of unexpected insurable events. This ensures financial protection for you and your loved ones.

Flexible Credit Limits: The card offers flexible credit limits, with the option to increase your limit after maintaining good usage for over six months. This feature ensures your credit needs are met as they evolve.

African Bank Black Fees and Commissions

The African Bank Black credit card has a competitive annual fee of $999.00, offering personalized transaction limits and interest-free periods. Cash withdrawals incur a $10.00 fee per transaction. The monthly service fee is R65.00, with an initiation fee of R140.00 and a replacement fee of R130.00.

Additionally, the credit card bill payment facility costs $10.00 per operation, emphasizing careful transaction management. These fees balance cost with extensive benefits, aiding users in optimizing financial management and security.

Note that all fees are subject to change without prior notice. Regularly check the African Bank website for the latest fee structure updates.

Credit card limit

The African Bank Black credit card offers a flexible credit limit, which can reach up to R350,000, subject to credit approval and the user’s financial profile. This substantial limit provides cardholders with the financial freedom to manage significant expenses and investments effectively.

Furthermore, users who maintain a good usage history for over six months may qualify for a limit increase. This ensures that as your financial needs evolve, the credit card adapts to support your goals, offering both flexibility and substantial credit capacity.

Positive points

62 days of interest-free credit:
Enjoy 62 days without interest on purchases, both in-store and online.
Instant issuance:
The card is issued instantly, allowing immediate use after approval.
Simplified refunds:
The card simplifies the refund process for greater convenience.

Negative points

Eligibility restrictions:
Available only to South African citizens or permanent residents, limiting access for foreigners.
Credit history:
Requires a good credit history, making it difficult for those with less favorable financial records.
Minimum wage requirement:
Requires a minimum monthly wage of R3000, potentially excluding individuals with lower incomes.

How to apply for African Bank Black

Visit the African Bank Website: Go to the official African Bank website.
Navigate to Credit Cards: Click on the “Credit Cards” tab in the main menu.
Select the Black Credit Card: Choose the “Black credit card” option from the list of available cards.
Start Your Application: Click the “Apply Now” button to begin the application process.
Create an Account: If you don’t have an account, you’ll need to create one on the site.
Complete the Application Form: Fill out the online application form with all the requested personal and financial information.
Submit Required Documents: Ensure you have necessary documents like proof of income, ID, and bank statements ready for submission.
Review and Submit: Double-check all your details and submit the application for review.
Await Approval: Once submitted, wait for the bank to process your application and notify you of the decision.