With a large percentage of businesses having gone digital, banking is simplified online. And applying for a credit card these days is as simple as entering your information into an online form and clicking submit.
But getting approved for a credit card requires proactive planning that should start long before you apply. Therefore before going online to apply for your credit card ensure that you have a steady income so as to be able to pay off your bill.
Understand the workings of a credit card as although you can easily apply for the card online. The process to how the card works isn’t always as simplified. As for starters although a credit card looks just like a debit card. However, instead of having the funds removed directly from your checking account when you make a purchase, you’ll essentially take on a short-term loan. This loan may or may not accrue interest, depending on when you pay it off.
For the purchases made in any given billing cycle which is around 30 days you’ll have a small grace period before your payment is due. If you pay the balance in full by that date, you won’t have to pay interest. If you pay less than the entire balance by the due date, you’ll accrue interest on your average daily balance.
Once you understand and know what type of credit card you want there are many places where you can apply for a credit card online.
Such as most major banks such as FNB whether you’re applying for Gold, Premier, Private clients or Private wealth credit card. Absa, Standard Bank, Nedbank and there’s also Virgin Money, African Bank with its offering of a gold and silver credit card. And Capitec Bank just choose who you want to apply with.