Apply of African Bank Gold Credit Card

The African Bank Gold Credit Card is different than any other card out there, which is why people are saying that it is a unique card.

The card is geared towards people who don’t have a lot of money, but still want to make purchases. The African Bank Gold Credit Card has average annual fees and the interest rates are medium-high. 

The African Bank Gold Credit Card is a new credit card that is being said to be a “luxury experience” for those who qualify. However, some people are questioning the standards that are needed to qualify for this card. It is said that the standards to be eligible for the card are high. This is because the card is only for those who have an average of R50000 in their bank accounts and have a good credit score.

Rates and Fees of African Bank Gold Credit Card 

Annual Fee: The annual fee associated with the African Bank Gold Credit Card is R420.00 – this fee is considered relatively average knowing that African Bank Gold Credit Card can give you tons of benefits not every credit card issuer can. 

Late Payment Penalty Fee: The African Bank Gold Credit Card didn’t disclose if they have any late payment penalties. However, it’s still better that you avoid this kind of fee to stop ruining your credit history.  

Returned Payment Fee: In addition, African Bank Gold Credit Card also didn’t disclose if they have any returned payment fee. This fee is for people who have insufficient funds on their checking account whenever a reimbursement period is coming. 

Foreign Transaction Fee: In case you want to make an international withdrawal, a foreign transaction fee of R20.00 will be charged on your account, with an added 1% of the total transaction amount. So make sure to take this fee into account whenever you want an overseas transaction.  

Interest Rate: The annual interest rate available on African Bank Gold Credit Card is 16.50%. This is considered a medium-high especially to those credit cardholders who are middle income earners. 

Other fees: African Bank Gold Credit Card has other associated fees including cash deposit in ATM with R3.70 fee or 1.1% transaction value if the amount goes up to R250.00. 

Qualifying for African Bank Gold Credit Card 

Minimum Credit Score needed: African Bank Gold Credit Card didn’t say anything about the minimum credit score required to be eligible for a card. Furthermore, it’s better that you have a general average score of 500 to 680 to give you the best chance to get an African Bank Gold Credit Card. 

Annual Income requirements: With African Bank Gold Credit Card, you have to have a minimum monthly income of R10000 to be eligible. Which means that your annual income should at least be R120000 if you wish to acquire the card.  

How to apply for African Bank Gold Credit Card?

To apply for the African Bank Gold Credit Card, you will need to visit the website. You will be asked to provide a few pieces of private information. This information includes your name, contact information, and a recent government-issued ID. After you have provided this information, you will be asked to fill out an application. You will also be asked to provide your checking account information, in order to verify that you have the necessary funds to complete the registration process.

Assuming that everything goes well, African Bank will let you know if your application has been approved. If so, review the terms and conditions and sign the contract to get your brand new credit card. 

Final thoughts

When people are contacted to know about the African Bank Gold Credit Card, they usually say that the standards to be eligible for the card are too high. However, the African Bank Gold Credit Card isn’t just for people who are creditworthy. It’s for those who need financial assistance.