How Does Absa Student Credit Card Work 2022

Banking & Finance

Do you want to learn more about the Absa student credit card in South Africa? Please read this entire document.
This card enables students enrolled at any South African university to obtain funds when necessary.

When you use this card, you start building your credit history.

We’ll start with the requirements for obtaining a card.

WHAT IS REQUIRED IN SOUTH AFRICA TO QUALIFY FOR AN ABSA STUDENT CREDIT CARD?

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The following are the fundamental requirements:

• You must be between the ages of 18 and 30.

• You must earn at least R800 per month.

• A valid South African identification card or smart card

• Proof of residence and income for the previous three months

• A student identification number

These are the main criteria for obtaining a student credit card.

We’ll show you how the card works now that you know the requirements.

WHAT IS THE ABSA STUDENT CREDIT CARD?

With an Absa student credit card, you can pay at any point-of-sale machine in the world by swiping, scanning, or tapping.

To apply for the card, go to any Absa branch or the Absa student bureau.

You can use the card for both online and in-store shopping.

When you pay with the card, whether locally or internationally, you earn rewards.

Activate SMS notifications to receive notifications about any activity in your account and to keep an eye on any fraudulent activity.

For a variety of travel emergencies, you are automatically covered for R1.5 million.

The card allows you to build a positive credit history while also improving your future prospects.

In South Africa, the Absa student credit card works like this.

What Are The Interest And Rates?

We’ll now go over the student card’s limitations, rates, and interest charges.

On purchases, there are no transaction fees.

If you use an Absa ATM, the card charges R3.95 to withdraw money and 1.15 percent of the withdrawn cash.

You will be charged R9.95 and 1.15 percent of the withdrawn funds if you withdraw from a different bank ATM.

The card has an R200 limit and an 18 percent interest rate.

A monthly repayment of at least 3% of the outstanding balance is required.

When you have a positive balance on your card, you get a 0.2 percent interest rate.

This is everything you need to know about the Absa student credit card in South Africa.

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