The ABSA Ultimate Islamic Card offers a unique banking experience designed specifically for customers seeking Shari’ah-compliant financial solutions. This product goes beyond standard banking by aligning with Islamic values, providing customers with a card that follows Islamic financing principles while offering substantial perks. With a robust lineup of features, including cashback on spending, no-interest financing, and travel insurance, this card suits users looking for both ethical and practical benefits.

This card ensures a values-driven approach to banking, integrating Shari’ah compliance with added services like profit-sharing for savings and Absa Rewards cashback. Below is an in-depth look at the essential details, advantages, and application requirements for the ABSA Ultimate Islamic Card.

Key information about the credit card

How does the annual fee work?

The ABSA Ultimate Islamic Card comes with a monthly fee of R98. This fee covers access to various services and is consistent, making it easy for customers to manage their monthly finances. Unlike annual fees that may be billed all at once, the monthly approach provides flexibility and ensures customers get immediate value in return, from cashback rewards to airport lounge access.

How is the credit limit determined?

The credit limit for the ABSA Ultimate Islamic Card is designed to be adaptable and customer-centered. For conventional and secured credit cards, Absa assesses factors like your credit score, monthly income, and other financial commitments to decide an appropriate limit. This personalized evaluation aligns with Shari’ah principles by ensuring responsible lending practices.

Advantages of the credit card

• Shari’ah-compliant transactions: All transactions are conducted under Shari’ah principles, aligning with ethical guidelines and providing peace of mind.
• Profit-sharing opportunities: Customers can earn a profit share through the Islamic Savings Booster, which allows short-term savings that accumulate a rewarding profit.
• Cashback rewards: Absa Rewards offers cashback on every swipe, providing a financial benefit that is straightforward, with no points system.
• Airport lounge access: Complimentary access to Bidvest Premier lounges, both domestically and internationally, enhances the travel experience.
• Comprehensive travel insurance: The card includes automatic travel insurance up to R1.5 million for both domestic and international trips.
• Fee-free withdrawals and deposits: Enjoy up to R3,000 in free Absa ATM withdrawals and cash deposits each month.
• Free spouse banking: Get a 100% fee discount for a spouse’s account, adding value for family-oriented users.
• Interest-free period: The free credit card linked to this account offers up to 57 days of interest-free usage.

Standout advantage

One of the standout features of the ABSA Ultimate Islamic Card is its profit-sharing aspect through the Islamic Savings Booster. This innovative feature allows customers to save for short-term goals and benefit from profit shares, creating a meaningful incentive to save while adhering to Islamic financial principles. By doing so, Absa enhances the card’s value by merging financial benefits with a strong ethical foundation, allowing customers to grow their wealth responsibly.

Disadvantages

• Monthly fees: While manageable, the R98 monthly fee might be a consideration for some customers.
• Limited global benefits: Some benefits may be more applicable locally rather than internationally.
• Eligibility requirements: Meeting the requirements might limit accessibility for some prospective users.

A standout disadvantage

The most notable disadvantage of the ABSA Ultimate Islamic Card could be its focus on local services. While international benefits exist, the emphasis remains on domestic services, which might not fully meet the needs of frequent international travelers. For those seeking a more globally aligned service suite, a traditional international credit card may be a better option.

Who can apply for this card?

To apply for the ABSA Ultimate Islamic Card, applicants must fulfill a range of important eligibility criteria designed to ensure responsible and sustainable financial management. The first requirement is that applicants are at least 18 years old, which establishes a baseline for legal and financial maturity. Additionally, candidates need to present a strong credit history that reflects a track record of responsible credit usage.

In addition to age and credit requirements, applicants must also provide proof of income. This documentation should verify that the applicant has a stable source of funds, typically through employment or a regular income stream, which will allow them to manage their finances without undue strain. This stability is especially important for Islamic financial products like the ABSA Ultimate Islamic Card, as Shari’ah principles emphasize financial responsibility and the avoidance of excessive risk.

How to apply for the ABSA Ultimate Islamic Card

For the website

To apply for the ABSA Ultimate Islamic Card online, customers need to visit Absa’s official website. Once there, navigate to the “Personal Banking” section and select the ultimate islamic banking option. Fill in the online application form, which includes personal information, income details, and preferred account options.

After submitting the form, applicants may be required to upload documents, such as identification and proof of income, to finalize the application. This online method is convenient and can be completed from any device with internet access, making it a popular choice.

Through the app

The Absa Banking App also offers a seamless way to apply for the ABSA Ultimate Islamic Card. After downloading and logging into the app, go to the “Accounts” section and select “Apply for a Card.” Follow the prompts, which guide you through the application, including sections to input personal and income information.

The app allows users to upload necessary documents directly, providing a smooth, paperless experience. This approach is particularly advantageous for those familiar with mobile technology, offering a quick, convenient way to apply without needing to visit a branch.

At the branch

For those who prefer an in-person experience, visiting an Absa branch is also an option. At the branch, applicants can speak with a banking consultant who will guide them through the process. The consultant can answer any questions, clarify eligibility requirements, and assist with document verification.

This method provides a high-touch experience, which may be helpful for those new to Islamic banking or anyone seeking personalized assistance. Applying at a branch ensures all paperwork is in order and allows applicants to gain deeper insights into the card’s benefits and terms directly from Absa staff.