When it comes to credit cards. There are various offers available from all the major banks in South Africa and each of them will have their own benefits. Depending on your needs, you should compare the various credit cards to find the one that will suit your requirements best.
A very popular product with South Africans is no fee credit cards. This means that you will have a credit card that has no annual fee, thereby reducing your fee structure year and making your credit card more affordable. There are various banks that offer this service, including Barclaycard, virgin money and American Express.
American Express Voyager Card
- Minimum monthly income of R 25 000,00
- Initiation fee of R 1 835,00
- No monthly fee
- Earn 1 airmile for every R6,00 spent
- Earn 19 000 Bonus Miles on your first SAA ticket purchase
- Air Miles expire after 3 Years
Diner’s Club Platinum Card
- Minimum monthly income of R 30 000,00
- Initiation fee of R 695,00
- No monthly fee
- Concierge service
- Automatic travel insurance
- Not accepted everywhere
- No monthly or annual service fees
- No card swiping charges
- Free face-to-face delivery
- 55 days interest free
- Credit interest of 2.5% per annum
Having the benefit of a credit card with no annual fees will significantly reduce your spending and it’s a great benefit to have. But interest rates already being so high, it is great to know that you can still be credit cards that offer you know, monthly or annual service fees.
The credit cards that offer no monthly or annual service fees are usually the ones offered to people with slightly higher income, as they will likely spend more on the card and that’s have a higher spending limit too.
