The African Bank Gold Credit Card offers a range of features designed to provide convenience, flexibility, and security to its users. With its versatile benefits and user-friendly services, this card stands out as a reliable financial tool for managing everyday expenses and unforeseen financial needs.

Whether you’re looking for a card that offers ease of use, extensive acceptance, or robust support services, the African Bank Gold Credit Card delivers on all fronts, making it an attractive option for many individuals.

Key information about the credit card

How does the annual fee work?

The African Bank Gold Credit Card comes with a transparent fee structure, which is crucial for users looking to manage their finances effectively. The monthly service fee for this card is R69.00, which covers a wide range of services and benefits associated with the card.

This fee can be viewed as an essential investment towards the array of services and benefits that the card offers, ensuring that users have continuous access to all the card’s features without the burden of a hefty yearly charge.

How is the credit limit determined?

The credit limit for the African Bank Gold Credit Card is determined based on a comprehensive credit assessment conducted by the bank. This process considers various factors, including the applicant’s income, credit history, and overall financial stability.

For users who have held the card for more than six months, there is the possibility of requesting a limit increase, which is subject to a new credit assessment. This flexibility allows cardholders to potentially increase their spending power over time, aligning with their financial growth and changing needs.

Advantages of the credit card

• Personalized limits: Users can set their own transaction limits, offering control over spending and enhancing security.
• Emergency services: The card provides access to emergency services, including medical and legal referrals.
• Interest-free period: Enjoy up to 60 days of interest-free credit on point-of-sale (POS) purchases if the balance is paid in full by the due date.
• Instant issuance: The card is issued immediately at any African Bank branch, providing instant access to credit.
• Widespread acceptance: The card is accepted at thousands of merchants wherever the VISA logo is displayed.
• Superior buying benefits: Includes purchase protection and extended warranty on purchases made with the card.

Standout advantage

One of the standout features of the African Bank Gold Credit Card is its interest-free period of up to 60 days on POS purchases. This benefit allows cardholders to make significant purchases without immediate financial strain, provided they settle their balance in full by the due date. This feature is particularly advantageous for those looking to manage cash flow effectively or take advantage of short-term financing without incurring interest charges.

Disadvantages

• Monthly service fee: While the card offers numerous benefits, the R69.00 monthly service fee is a recurring cost that users need to budget for.
• ATM withdrawal fees: Cash withdrawals from ATMs incur fees, making it less cost-effective for those who frequently need cash.
• International fees: Additional fees are applied to transactions made outside of South Africa, which may be a drawback for frequent travelers.

A standout disadvantage

A notable disadvantage of the African Bank Gold Credit Card is the relatively high fees associated with ATM withdrawals, both domestically and internationally. For users who rely on cash transactions, these fees can add up quickly, making the card less appealing for those who frequently need to withdraw cash.

Who can apply for this card?

To apply for the African Bank Gold Credit Card, applicants must meet specific criteria set by the bank. The primary requirements include being at least 18 years of age and having a stable source of income, which will be assessed during the application process. The applicant’s credit history will also play a significant role in the approval process, as the bank conducts a thorough credit assessment to determine eligibility and the appropriate credit limit.

Additionally, the card is generally accessible to individuals with a clean credit record, meaning those with past credit issues may face challenges in securing approval. However, the bank offers a personalized credit limit and may consider special cases based on individual circumstances.

How to apply for the African Bank Gold Credit Card

For the website

To apply online, visit the African Bank website and navigate to the credit card section. Here, you will find an option to apply for the Gold Credit Card. The website will guide you through the application process, starting with a form where you need to provide personal details, including your name, contact information, and income details.

After submitting the form, the bank will conduct a credit assessment to determine your eligibility. If approved, you will receive further instructions on how to collect your card from a nearby branch. The online application process is convenient, allowing you to apply from the comfort of your home at any time.

Through the app

The African Bank mobile app offers another convenient way to apply for the Gold Credit Card. Once you have downloaded and installed the app from your preferred app store, you can log in or create an account if you don’t have one already. Navigate to the credit card section and follow the prompts to start your application.

The app allows you to upload necessary documents, such as proof of income, directly from your phone, making the process seamless. The mobile app not only facilitates the application process but also allows you to manage your card, make payments, and access account information once your card is issued.

At the branch

For those who prefer a more personal touch, applying in person at an African Bank branch is also an option. When you visit a branch, a consultant will assist you with the application process, helping you fill out the necessary forms and submit the required documentation.

The consultant will also conduct an immediate credit assessment and, if approved, issue your Gold Credit Card on the spot. This method is ideal for individuals who prefer face-to-face interaction or have questions that they would like answered by a banking professional during the application process.