Learn How to Apply for the Capitec Bank Credit Card

What do You Need to Know Before Applying for the Capitec Bank Credit Card?

The Capitec Bank Credit Card is a Mastercard option for shopping without international transaction fees, offering 1% cashback on smart payments and Prime interest rates.

Capitec Bank is regarded as the largest retail bank in South Africa, with thousands of accounts being opened every day.

This credit card is delivered for free to those approved for an account and for the Capitec Bank Credit Card itself.

To access the card, you must pay an initiation fee of R50, a monthly fee of R50, and prime interest rates ranging from 11.75% to 22.25%.

The maximum credit limit is R500,000, based on the financial conditions of the account holder, whether an individual or a business. You will know your exact budget directly in the bank’s app.

An important benefit of the Capitec Bank Credit Card is the 1% cashback when making payments via Apple Pay, Google Pay, Samsung Pay, and Garmin digital wallets.

Additionally, there are no currency conversion fees for purchases made abroad. With a focus on technology, the card supports contactless payments, and you can manage it entirely through the Capitec Bank app or internet banking.

If you are interested in the card, keep reading.

Who can Apply?

Capitec Bank has well-defined criteria for account and credit card approval.

First, you must be at least 18 years old and a citizen of the country. For foreigners, a passport with a valid work visa and account opening permit is required.

The main requirement for the Capitec card is the minimum income. For salaried individuals, the minimum required is R5,000.

For self-employed applicants, you need to present income totaling at least R10,000 per month. Note that all applications are subject to the availability of credit from Capitec Bank.

See How to Apply for the Capitec Bank Credit Card

Capitec Bank offers a highly optimized application process through technology.

First, you need to create an account, which is usually quick. You can download the app for free from the Apple, Android, or Huawei stores.

After downloading the app, you need to enter your SA ID number to create a login and password. The next step is to take some selfies to create your visual identity for the app.

Then, you need to provide details such as your home address, phone number, and email address, and allow credit verification authorizations.

According to the bank, once you register for an account, you will have full access to the app.

By providing your income and credit information, the app will show your budget for the credit card. By selecting the ‘I’m Interested’ option, you will receive a call from an authorized agent. 

The application process will be completed with this online support, which will request confirmations and additional documents such as proof of residence and the last three months’ payslips.

Once approved for the card, you can choose whether to have it delivered or pick it up at a bank branch.

The good part is that you don’t need to leave your house to open the account or apply for the credit card, thanks to the ease of online processes.

More Details

The credit card offers constant monitoring and tips to improve your credit history and explore other card options in the future.

For travel, you will receive free travel insurance of up to R5 million to assist with issues abroad.

Additionally, you will enjoy up to 55 days of interest-free credit, up to 3.5% annual earnings on positive balances, and available credit insurance if you don’t already have one in effect within South Africa.

Want to learn another option?

The Private Banking Visa Signature is a credit card from Absa Bank that offers a comprehensive experience with dozens of visits to premium lounges both inside and outside South Africa. 

Despite higher fees compared to Capitec, the card also brings the Visa Signature benefits of insurance and a dedicated team of bankers. Find out how to apply.

Written by

Gabriel Gonçalves