The Best Credit Card To Have In 2021

A credit card is one of the most convenient cards to have, it offers a line of credit that can be used to make purchases, balance transfers, and/or cash advances without having to put up cash at the point of sale.

It acts as a form of a loan as you will be required to pay back the money you have used in the future with a certain percentage of interest added.

When using a credit card, you will need to make at least the minimum payment every month by the due date on the balance to keep your card active. Interestingly, as you pay the amount due monthly, you credit score increase, which is a very good thing as it boosts you to be recognised and be more trusted by lenders as you are a low-risk client.

Credit cards are different hence you need to be sure about the one you will be going for before applying for one. To make things easier for you, I will be listing the best credit cards you can go or in 2021.

There are certain things that banks and financial institutions check before they can approve your credit card application namely, your credit history, age (you will have to be over 18), having a stable job, and earning a certain amount per month depending on the type of card you are applying for, and be a South African citizen with a valid ID book.

The documents or information required may differ from bank to bank, so it is advisable to check with your bank what is necessary in order to get the card you are looking for.

You may easily apply for a credit card by submitting an online application form, calling the bank through the phone, or visiting their branches physically. You may always look for more information under FAQs on the bank/financial institutions’ website if you need clarity on anything.

1. Standard Bank Titanium Credit Card

The Standard Bank Titanium Credit Card offers great deals with money that allows you to buy anything that you want without worries.

The services can be personalised to fit your taste which also includes the interest rates of which are not fixed. The maximum credit available on this card is R250 000 and to qualify you will have to be earning a minimum income of R25 000.

Their monthly repayment is a minimum of 3% of your outstanding balance and the monthly service fee is R74 and you will also be required to pay R180 (VAT inclusive) which is a once-off initiation fee. This card comes with benefits such as lifestyle, insurance, and traveling perks.

2. FNB Gold Credit Card

The FNB Gold Credit Card offers you a credit facility account as well as a transactional account which is linked to a single credit card. To qualify, you will have to be earning between R84 000 – R359 999 per annum. The initial fee is R175 and the monthly fee is R51.

The benefits that come with the card include:

  • Free Automatic Debt Protection
  • Free Global Travel Insurance
  • Move unexpected medical expenses to budget at prime
  • Access to exclusive offers at a preferential rate of prime
  • Free AA Emergency Roadside Assistance with a linked Petro card

You may also be rewarded with eBucks:

  • 40% back in eBucks on your Video Streaming (Netflix) and Music Streaming (Spotify®) subscriptions when your family banks with FNB
  • 15% back in eBucks on health and beauty at Clicks
  • Earn and spend eBucks on food orders with the Mr D Food App

3. Nedbank Platinum Credit Card

Nedbank Platinum Credit Card is also one of the best cards that one can opt for.

It is very convenient and offers traveling benefits which come with automatic travel insurance of up to R3 000 000 and also offers access to Bidvest premier airport lounges of which you will get 12 complimentary visits per year for domestic lounges only.

The once-off initiation fee is R198, the maintenance fee is R57, whilst the additional card fee amounts to R30.

4. African Gold Credit Card

Banking has been made easy with the African Gold Credit Card as you have the allowance to purchase whatever you want without having to worry.

With this card, you can earn a 3% interest rate per year if you keep a positive balance and if you settle your bill within 60 days no interest rate will be charged. The monthly service fee is R69 and the fund transfer fee is R5.55.

5. Absa Student Credit Card

For students, the Absa Student Credit Card is one of the best in the market. To qualify, it only requires a minimum income or allowance of R800 and has R0 initial fees and monthly fees.

You must be a registered full-time student at an FET college, SAQA-approved institution, university, university of technology or private institution to be approved. This card will enable you to establish a credit history while you establish your future. When you use the card to pay either locally or internationally you will be rewarded with cashback.

Having a manageable credit limit is a good thing as this will help you to maintain your debt and be able to pay it off without a hassle.

One thing for sure, be a smart spender as unnecessary spending can lead you into a huge debt that you may struggle to pay leading you to be blacklisted and this may also affect your credit score. So, to avoid any problems, spend wisely!