Capitec Credit Card is a bank credit card with a credit limit of R500,000.00 and an interest rate ranging from 10.50% to 21%. The Capitec Credit card has a one-time R100.00 initiation fee. Every month, a credit card facility fee of R45.00 is charged.

Individuals who are 18 years of age or older and have a monthly income of R5,000.00 or more are eligible for the Capitec Credit card. Self-employed or sole proprietors can also apply for the Capitec credit card, but they must earn at least R10,000.00 per month.

When Capitec credit card holders spend, they receive 1% guaranteed cash back. Card holders who meet their monthly banking goals receive an additional 0.5% cash back. Credit card holders receive a 55-day interest-free credit after spending with the Capitec credit card.

Credit card holders  earn 3.50% interest on a positive balance. Moreover, w hen using a credit card to purchase airline tickets, cardholders receive up to R5 million in travel insurance.

We discuss the Capitec Credit card in greater detail below because as it provides many financial benefits to the credit card holder.

Capitec Black Card

The Capitec Black Card and the Credit Card are the same card. The only distinction is colour. With the black card, the customer earns 3.50% interest annually on a positive balance and also receives an interest-free credit of 55 days. The Capitec Black has a credit limit of up to R500,000.00 with each customer getting credit based on affordability.

In reality, Capitec Bank changed the colour of its credit card from gold to black, which is why it is now called the Capitec Black Card. The eligibility criteria remain unchanged.

For the purposes of this article we will use the names interchangeable.

Benefits of Capitec Black Card

• Credit Card holders receive 3.5% interest on a positive balance.
• The Capitec Credit card has the highest credit card limit from a bank of up to R500,000.00.
• Credit is personalised depending on credit score, credit history, and affordability.
• There is no currency conversion fee when using the Capitec credit card overseas.
• Get up to 55 days of interest free credit after each purchase.
• Get access to all your cards.
• Free travel basic insurance of up to R5 million
• Optional credit life insurance.

Is the Capitec Black Card for you?

This credit card is meant for everyone seeking for a credit card, including travellers and entertainment enthusiasts. The credit card is inexpensive, but it may not be appropriate for frequent travellers. Capitec Bank does not offer loyalty points or discounts when purchasing travel tickets, hotel reservations, auto rentals etc with a credit card.

It may not seem like a big deal if you don’t travel frequently, but traveling more than 8,000 miles per year and being rewarded for it can change your life. Capitec Bank’s apathy toward the fact that renting a car and booking a hotel, whether overseas or locally, should be rewarded is unsatisfying. 

Based on your ability to pay and credit risk, you may be eligible for a Capitec Black Card if you are employed and earn at least R5000 per month.  Those with a high income and excellent credit will almost certainly be approved for a credit line of up to R500,000.00.

When applying for any type of credit, including a Capitec credit card, your credit score is critical. Your credit application may be denied if you are perceived as a high credit risk. Capitec Bank offers credit to those with a good credit score.

In one instance, Tebogo, a long-standing client of Capitec, applied for a credit card for the first time, having never taken out credit previously. He initially examined his credit report and discovered that he had no credit score. Then he took a chance and applied for this credit card, submitting all the necessary paperwork, and to his surprise, he was approved.

Capitec Credit Card Fees 2023

Competitive Advantages

• Interest is earned on a positive balance.
• Low interest on credit is charged if one has a good credit score.
• The credit card has a high credit limit available.

Competitive Disadvantages

• There is no loyalty program for credit card holders.
• There are no airport lounge benefits.

Capitec Credit Card Application

1. Must be 18 years or older at the time of application.
2. Be a employed or self employed.
3. Earn a minimum monthly income of R5,000.00 if employed and R10,000.00 if self employed.
4. Have a valid South African ID book or smart card.
5. Provide your recent payslip and 3 months bank statement.
6. Have a proof of residence that is not older than 3 moths at the time of application.