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Capitec Credit Card review: Free travel insurance

If you have a good credit score, read this Capitec Credit Card review and discover its low interest for people with good credit!

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Get a High Credit Limit, Guaranteed Cash Back, and Low Interest Rates with this Card

The Capitec credit card has cash back rewards for you. Source: The Post New.

Looking for a credit card with a high credit limit, guaranteed cash back, and low interest rates? Look no further! Here is our Capitec Credit Card review.

Capitec Credit Card

How to apply for Capitec Credit Card

Time to get a card with a low interest rate and high credit limit! Here is our Capitec Credit Card application guide.

  • Requirements: Must be 18 years or older, employed or self-employed, valid South African ID book or smart card, recent payslip and 3 months bank statement, proof of residence not older than 3 months.
  • Initiation Fee: R100.00.
  • Monthly Fee: R45.00.
  • Rates: Interest rate ranging from 10.50% to 21%, and ATM withdrawal fee of R9.00 for every R1000.00.
  • Rewards: 1% guaranteed cash back, additional 0.5% cash back for meeting monthly banking goals, and up to R5 million in travel insurance when using the card to purchase airline tickets. Credit card holders also earn 3.50% interest on a positive balance.

This credit card is perfect for individuals and self-employed individuals earning a monthly income of at least R5,000 or R10,000, respectively. Read on and learn all you need to know about it.

Capitec Credit Card: how does it work?

The Capitec Credit Card is a bank credit card that has a credit limit of R500,000.00 and an interest rate that ranges from 10.50% to 21%. 

The card has a one-time R100.00 initiation fee and a monthly credit card facility fee of R45.00. Eligibility requires individuals to be 18 years old or older and have a monthly income of R5,000.00 or more. 

Self-employed or sole proprietors must earn at least R10,000.00 per month. Cardholders receive 1% guaranteed cash back and an additional 0.5% cash back if they meet their monthly banking goals. 

Credit card holders earn 3.50% interest on a positive balance and receive up to R5 million in travel insurance when using their credit card to purchase airline tickets. 

The Capitec Credit Card offers a high credit limit and low interest rates for those with good credit scores. 

However, the card does not have any airport lounge benefits or a loyalty program for cardholders. 

To apply for the card, individuals must provide a valid South African ID, recent payslip, 3 months bank statement, and proof of residence. 

Those who are blacklisted can still apply for the card but their credit profile may impact the amount of credit for which they qualify. 

Cardholders can easily pay off their credit using the Capitec App and have a 55-day credit period to do so. 

To close the credit card, individuals can use the Capitec mobile app, internet banking, or call customer service. 

Overall, the Capitec Credit Card provides several benefits and competitive advantages for individuals who meet the eligibility requirements.

Significant benefits and disadvantages you may find

With Capitec, you can bank from everywhere. Source: Canva.

Now it’s time to have a clear comparison between this card’s pros and cons. Our Capitec Credit Card review would not be complete without it.

So, have a look at the list of benefits and disadvantages we’ve prepared for you below.

Benefits

  • High credit limit available
  • Earn interest on a positive balance
  • Low interest on good credit score
  • Up to R5 million travel insurance

Disadvantages

  • No airport lounge benefits
  • No loyalty program for cardholders
  • Monthly fee of R45.00
  • ATM withdrawal fee of R9.00

Is a good credit score required for applicants?

This card does not require a good credit score for applicants. However, interest rates are lower for those with good credit.

Learn how to apply and get a Capitec Credit Card

Are you happy with what you’ve seen in this Capitec Credit Card review? Then click the link below and read our application guide to learn how to get this card in a few minutes.

Capitec Credit Card

How to apply for Capitec Credit Card

Time to get a card with a low interest rate and high credit limit! Here is our Capitec Credit Card application guide.

About the author  /  Danilo Pereira

Danilo is a copywriter with a passion for learning. Deeply interested in philosophy, politics and arts.

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