Learn How to Apply for the Absa Premium Banking Credit Card

What do You Need to Know Before Applying for the Absa Premium Banking Credit Card?

Premium Banking is Absa’s credit card for those with higher needs, such as 12 visits to the Bidvest Lounge, buyer protection, and lost card protection.

As indicated by its name, Premium Banking offers exclusive banking services, including a dedicated team of advisors and bankers available to assist cardholders with inquiries and issues.

In terms of fees, the card carries a monthly charge of R67 and a credit line fee of R30, resulting in a total monthly fee of R97 for a credit limit of up to R138,000.

For travel benefits, Premium Banking includes 12 complimentary annual visits to the Bidvest Premier Airport Lounge, with special terms and rates thereafter. Additionally, it provides R3 million in automatic basic travel insurance coverage.

Absa’s rewards program offers cashback benefits, typically providing 30% cashback on purchases in categories like supermarkets and beauty products.

The bank provides comprehensive details about its rewards system and features, including Absa Advantage, which rewards users for completing challenges within the app.

In terms of security, the card allows for contactless payments up to R500 without requiring a PIN, and it offers the NotifyMe system for receiving transaction alerts via SMS.

Moreover, the card provides extra rewards at Dis-Chem, with tiered benefits based on spending percentages and earnings.

Overall, this card is well-suited for various situations, both domestically and internationally.

Who can Apply?

Absa provides clear guidelines regarding the eligibility criteria for its credit cards in South Africa.

The primary requirements include being at least 18 years old and legally residing in the country, whether as a citizen or a foreigner with a valid visa.

Income is a key criterion, requiring proof of a minimum monthly income of R25,000 that can be verified.

For the application process, you will need to submit the following documents: a valid South African ID card, a valid visa and passport, proof of residential address, or proof of income for the last three months.

It’s important to note that all applications undergo Absa Bank’s assessment for accessibility.

See How to Apply for the Absa Premium Banking Credit Card

Applying for Absa credit cards follows a streamlined process available through the bank’s digital platforms.

On Absa’s website, the Premium Banking Credit Card section prominently displays an ‘Apply’ button for easy access.

Clicking this button will lead you to the credit card application portal, where you can choose among the following options:

• New customer
• Customer with Online Banking
• Customer without online banking

New customers begin by verifying their security on the platform. Following this, they undergo credit checks to ensure there are no existing debts or outstanding credit issues.

To complete the application form, you will need to provide the following details:

• Personal information: full name, type of identification, ID number, residential address, gender, date and country of birth, and country of residence.
• Address Information: complete residential address.
• Contact Information: home and work phone numbers, mobile number, and email address.

You must also confirm your consent for identity verification during the application process. Additionally, you will need to submit the required documents and undergo further reviews by the bank.

For existing customers, the process is streamlined as Absa already possesses the necessary information, thereby saving time.

More Details

The card features the Visa logo, offering exclusive benefits for Visa cardholders such as:

• GCAS: Global Customer Assistance Services
• Exclusive global discounts and offers at participating merchants
• Referrals for medical and legal assistance
• Buyer protection
• Extended warranty coverage

The Absa Rewards system is quite comprehensive and provides different levels of benefits depending on the type of purchase.

Want to learn another option?

If you are looking for a credit card more focused on business, you can explore the Nedbank Small Business card, which even features the American Express logo.

The card includes 4 visits to the Bidvest Lounge, purchase protection, and access to networking platforms, and you can find out how to apply.

Written by

Gabriel Gonçalves