Absa Premium Banking Credit Card review: Get cashback rewards
With this card you have no hidden fees, access to credit education and much more. Our Absa Premium Banking Credit Card review tells you all you need to know!
Earn rewards on everyday spending and enjoy exclusive travel benefits with your Absa Premium Banking Credit Card
This card offers a high cash back rate, a generous sign-up bonus, and a range of travel benefits, making it a top choice for frequent travelers. Here is our Absa Premium Banking Credit Card review.
- Requirements: Good credit score, income, and employment status
- Initiation Fee: Not specified
- Monthly Fee: Not specified
- Rates: Not specified
- Rewards: Cashback rewards for certain purchases, discounts on certain services
This card is ideal for individuals who frequently travel or shop, offering rewards and benefits that can enhance their overall experience.
Absa Premium Banking Credit Card: how does it work?
The Absa Premium Banking Credit Card is a credit card that offers clients access to private banking services for an R59.00 monthly account fee.
It has a maximum credit limit of R138,000.00, with a minimum monthly payment of 3% of the balance due, and a 57-day interest-free period.
The credit card comes with a dedicated premium banking line that is available 24/7 for customer assistance.
Clients also receive access to Bidvest Airport lounges and automatic travel insurance of R3,000,000.00.
They can make contactless payments both locally and internationally, and receive rewards through the Absa Rewards program.
The credit card also includes protection for lost or stolen cards, buyers’ protection, and extended warranty on goods purchased.
There is a monthly fixed repayment, and the minimum income requirement is R25,000.00, which is low for a private banking credit card.
Account holders receive up to 30% discounts on selected items from participating stores, and Visa™ provides food services at more than 800 airport lounges globally.
Fees include a monthly credit facility fee of R30.00, secondary card fee of R16.50, and garage cards fee of R42.00.
Cheque and cash deposits at Absa branches incur fees, while account payments via Absa ATM or online are free. Plus, internal and external debit orders, and funds transfer at an Absa ATM, online or by mobile, are also free.
There are charges for telephone adviser-assisted and bank statement services. Still, a balance enquiry at an Absa ATM, online, or mobile is free.
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Significant benefits and disadvantages you may find
So, now you are familiar with this card’s details. However, our Absa Premium Banking Credit Card review would not be complete without a comparison of its benefits and disadvantages.
- High rewards potential
- No credit check required
- No hidden fees
- Access to credit education resources
- High APR
- Monthly fee
- Limited acceptance
- No cash back option
Is a good credit score required for applicants?
The issuer does not provide specific information regarding the credit score requirement for the card we discussed earlier.
However, based on general credit card application requirements, most credit cards require a good to excellent credit score to qualify for the best rates and rewards.
Learn how to apply and get a Absa Premium Banking Credit Card
Like what you have seen in this Absa Premium Banking Credit Card review? Then click the link below and learn how to get it with our application guide!
About the author / Danilo Pereira
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