When it comes to premium banking services in South Africa, the Absa Premium Package stands out as a tailored solution for individuals seeking not just a credit card but a comprehensive banking experience. This package offers a range of benefits designed to enhance your lifestyle and financial well-being, making it an attractive option for those who meet the qualifying criteria.

The Absa Premium Package is more than just a credit card; it’s a gateway to exclusive services and rewards that cater to your unique needs. Whether you are looking for convenience, security, or rewards, this package has something to offer, making it a worthwhile consideration for anyone in the market for a premium banking solution.

Key information about the credit card

How does the annual fee work?

The Absa Premium Credit Card comes with a monthly fee of R97, which is a reasonable cost for the range of benefits it provides. This fee is automatically deducted from your account each month, making it easy to manage. Unlike cards that offer annual fee waivers under certain conditions, the Absa Premium Credit Card maintains a straightforward approach with a consistent monthly charge.

How is the credit limit determined?

The credit limit for the Absa Premium Credit Card is determined based on several factors, including your income level, credit history, and overall financial standing. Absa conducts a thorough assessment to ensure that the limit is appropriate for your financial situation. For those with higher income and a strong credit profile, the limit will be higher, reflecting their ability to manage more significant credit.

Advantages of the credit card

• Priority banking: Enjoy the convenience of a dedicated Premium Banking line, ensuring that your queries and transactions are handled swiftly and efficiently.
• Cash rewards: Earn cash back with Absa Rewards, where you can receive money back for your everyday purchases, adding tangible value to your spending.
• Complimentary airport lounge access: Benefit from 12 free visits per year to Bidvest Premier Domestic and International airport departure lounges, enhancing your travel experience.
• Travel insurance: With R3 million in automatic basic cover for travel emergencies, you can travel with peace of mind, knowing that you are protected against unforeseen events.
• Exclusive Visa benefits: Access Visa Local Offers and Global Merchant offers, giving you exclusive deals and discounts at various retailers worldwide.

Standout advantage

One of the standout advantages of the Absa Premium Credit Card is the complimentary airport lounge access it offers. With 12 free visits per year to Bidvest Premier lounges, both domestic and international, cardholders can enjoy a more comfortable and relaxing travel experience.

This benefit is particularly valuable for frequent travelers, providing a quiet space to unwind before a flight, with complimentary refreshments and Wi-Fi, setting this card apart from others in the market.

Disadvantages

• Monthly fee: While the benefits are substantial, the monthly fee of R97 may be a disadvantage for those who prefer a card with no ongoing costs.
• Spending criteria for lounge access: The 12 complimentary lounge visits per year come with spending criteria, which might be a hurdle for some users to fully utilize this benefit.
• Exclusive to higher income individuals: With a recommended income of R25,000 per month, this card may not be accessible to everyone, limiting its availability to higher-income individuals.

A standout disadvantage

The primary disadvantage of the Absa Premium Credit Card is the spending criteria attached to the complimentary airport lounge access. While 12 free visits per year are generous, the requirement to meet specific spending thresholds can be restrictive for some users.

This condition means that not all cardholders may be able to fully enjoy this benefit, which could diminish the card’s value for those who do not meet the spending criteria consistently.

Who can apply for this card?

To apply for the Absa Premium Credit Card, you must meet certain eligibility criteria. Applicants should be at least 18 years old and have a minimum monthly income of R25,000. It’s essential to have a good credit history, as Absa conducts a thorough credit check during the application process.

The card is designed for individuals with a stable financial background, making it less accessible to those with lower incomes or poor credit histories. Unfortunately, this card is not available for those with a compromised credit history, as the approval process is stringent to ensure that only qualified individuals receive the card.

How to apply for the Absa Premium Credit Card

For the website

To apply for the Absa Premium Credit Card online, start by visiting the official Absa website. Navigate to the credit card section and select the Absa Premium Credit Card from the available options. Once you have selected the card, click on the “Apply Now” button to begin your application.

You will be prompted to fill out an online form with your personal details, including your name, contact information, and income details. Make sure to have your ID and proof of income ready, as you will need to upload these documents to complete your application.

Once you submit your application, Absa will review it, and you can expect a response within a few days. If approved, your new credit card will be mailed to you, along with instructions on how to activate it.

Through the app

For those who prefer using a mobile device, the Absa Banking App offers a convenient way to apply for the Absa Premium Credit Card. After downloading the app from your device’s app store, log in with your Absa online banking credentials. Navigate to the “Apply” section and select the Absa Premium Credit Card from the list of available cards.

The app will guide you through the application process, asking for your personal and financial details. You can also upload the necessary documents directly through the app, making the process seamless. Additionally, the app provides a secure platform for your application, ensuring that your personal information is protected throughout the process.

At the branch

If you prefer a more personal touch, you can apply for the Absa Premium Credit Card by visiting your nearest Absa branch. This option allows you to speak directly with a banking consultant who can assist you with the application process. When visiting a branch, make sure to bring your ID, proof of income, and any other relevant documents.

The consultant will guide you through the application, explaining the card’s benefits and answering any questions you may have. Once your application is submitted, the consultant will inform you of the next steps, and you can expect to receive your card within a few days if approved.