Credit cards are a handy and safer alternative to carrying around cash. But it can be a hard choice choosing the credit card thats right for you.Below are some of the best credit cards available in South Africa.
Barclaycard Prime – If you earn more than R40 000 per month then this could be the perfect card for you. It comes with a host of special benefits, especially when making electronic purchases. For added peace of mind the card offers extended warranty for appliances that are bought using the card for up to 24 months from the date of purchase. You will also have access to Visa Privileges which includes special offers on shopping, travel and dining. The card as standard comes with a budget facility allowing you to make repayments on purchases in instalments up to 48 months as chosen by you, giving you extra control on what you repay.
Absa platinum credit card – While the Platinum is the most expensive credit card on offer from Absa, it does offer a tailored service to suit your financial needs. As standard you will benefit from access to expert advice from trained professionals via the dedicated Platinum Line. The card comes with a host of great privileges including special offers on travel, shopping, dining and lifestyle. For those looking to make big money purchases on electrical goods will also receive extended warranty and purchase protection.
American express gold credit card – The Gold card let’s you get more from your credit card. Both the American Express Membership Rewards and the American Express Selects programme are included meaning you can earn 1 point for every R5 spent. This can then be redeemed for a variety of lifestyle and travel rewards. If you’re a frequent traveller you will also be able to take advantage of earning great discounts locally and internationally just for being a gold member. As like all American Express cards you will have the option to transfer a balance upon account opening and have payment protection for an outstanding balance up to R150 000 if the worst were to happen to the primary cardholder.
American express credit card – This is American Express’s entry level card but does not mean you miss out on any of their fantastic benefits. Although you will receive a lower credit limit, you will still be rewarded for spending on your card by earning 1 point for every R5 spent. An added bonus with these points is that they never expire, so they can easily be accumulated and be redeemed against a variety of lifestyle and travel rewards. The card is a perfect way to budget for those larger purchases allowing you to spread payments of R300 or more over 3 to 36 months. A perfect first reward card for only R20 per month.
Diners club platinum credit card – The highly acclaimed Diners Club is one of the longest running rewards based credit cards on the market. The card offers some fantastic benefits for frequent flyers including automatic travel insurance, airport lounge access and you’re even able to link the card up to the British Airways Frequent Flyer programme, where Avios air miles can be earned. Although the card comes with a high annual fee, you are rewarded with a concierge service who will assist you in anything from booking flights and hotels to locating the best shopping outlets.
Virgin money credit card -The Virgin credit card comes in three different colours to choose from and provides a transparent pricing policy removing any annual card fees. Virgin have made it nice and simple by only charging five individual fees for the use of the card. This included ATM withdrawals, enquiries, cash deposits, Branch cash withdrawals/cheque deposits and the charge for loss or stolen cards. Unlike many of its competitors the card has a variable interest rate that is linked to the repo rate which could potentially make this one of the cheapest cards on the market.
Bluebean premium credit card – There is no great difference between the credit cards offered by Bluebean other than the monthly income requirements and the credit limit that will be granted upon successful application. You will however enjoy savings on interest with a balance transfer option that’s 5% less than the prevailing card for up to 6 months. For a small fee you will also have the option to apply for The Credit Protection Plan for added peace of mind which covers any outstanding balance up to R120 000 in the event of death or not being able to work due to health.