See How to Apply for the Nedbank Small Business Credit Card

What do You Need to Know Before Applying for the Nedbank Small Business Credit Card?

The Nedbank Small Business is a credit card for companies with an annual turnover starting at R150,000. It offers a personalized limit, the Greenbacks Rewards program, and business rewards for networking.

Nedbank provides multiple financial solutions for individuals and businesses of various levels. A good example of this is the Nedbank Small Business Credit Card, aimed at businesses with lower income but some stability.

Firstly, the card can be issued with either the Mastercard or American Express brands, depending on the conditions presented by the company. The monthly credit limit is also highly customizable.

In terms of costs, Nedbank Small Business charges a one-time initiation fee of R277 and a monthly service fee of R57.

To manage finances, you have access to 24-hour digital banking via the Money app, which makes it easy to access banking services and switch between accounts, including granting access to others.

And this is very important for pursuing healthy account management and ensuring more security and reliability for the day-to-day operations of the company.

For travel, you get a 5% discount on AVIS rates, up to 4 free visits per year to Bidvest lounges, provided you spend at least R4,000, and basic travel insurance with the option to recharge. American Express cardholders also enjoy double rewards and rewards in dollars.

If you want the card, keep reading.

Who can Apply?

To apply for the Nedbank card, you must meet criteria both as an individual and as a business.

The individual must be over 18 years old and a resident of South Africa, either as a citizen or a foreigner, with a valid passport and work visa.

For the business, you need to present an established company with an annual turnover starting at R150,000 with complete proof.

It’s also not advantageous to have revenues well above R400,000, as this group might qualify for the Business Credit Card.

All applications for the card are subject to Nedbank’s review, especially to verify the company’s registration and operational status.

Learn How to Apply for the Nedbank Small Business Credit Card

Nedbank’s online platform provides a comprehensive explanation of the card.

By clicking on the’select credit card’ option, you are redirected to another page with the Small Business Benefits.

When selecting the option to start the application, the first information requested is your SA ID number, primary phone number, and optional email. From there, you begin to provide more information about yourself and the company.

For personal details, you need to present proof of identity as a citizen or foreigner. For the business, you need to provide contact details and other specifics, such as the service niche, number of employees, tax framework, and annual revenue, as well as an expenditure report.

During the application process, you may need to provide documents such as proof of residence, income statements, and tax declarations. In case of problems, you can directly contact Nedbank’s customer service.

The important thing is to provide all the information correctly, even if it takes time to fill out all the forms.

More Details

The Nedbank card offers different ways to earn rewards, such as a minimum monthly rebate of 5%, budgeting ease, and full payment with up to 55 days of interest-free.

Additionally, to simplify management, you can monitor the company’s finances and send invoices through MoneyTracker.

Moreover, there are other benefits, like registration on BizPortal and SimpyBiz, a platform for networking and connecting with other entrepreneurs.

The card offers an essential guide to provide more knowledge about daily business operations, along with services on Avo, a sales application.

Want to learn another option?

If you want another credit card option for individuals, you might consider the excellent Capitec Bank Credit Card, offering 1% cashback on smart payments and Prime rates.

The card has different requirements for individuals or even for self-employed workers, with interesting benefits for the amounts, and you can see how to apply.

Written by

Gabriel Gonçalves