There are too many expectations with a black credit card, and Woolworths’ own black credit card does not disappoint. Woolworths’ black credit card should not be taken lightly because it is powered by Absa Bank, one of South Africa’s big five banks.
Woolworths Black Credit Card Summary
The Woolworths Black Credit Card is a high-end credit card that requires a monthly income of R41,666.00 or a yearly income of R500,000.00. The credit card includes automatic enrollment in the WREWARDS program, which provides members with an additional 5% off WREWARDS items.
Black credit cardholders get an extra 3% back in quarterly vouchers on all Woolworths purchases. In addition, black credit cardholders receive 1% back in quarterly vouchers for purchases made outside of Woolworths.
The Woolworths Black Credit Card comes with a slew of perks, including:
- Taste magazine vouchers every month.
- Two free hot beverages monthly at Woolworths Cafe.
- Free Absa ATM withdrawals.
- Access to free online banking platforms.
- Free card replacement.
- Up to 8 additional cards for family or friends.
- Free delivery when shopping online with the Woolworths Black Credit Card.
With so many freebies, it’s reasonable to expect a high monthly fee. However, the monthly fee for the Woolworths Black Credit Card is relatively low; credit card holders pay R69.00 per month. A secondary credit card is issued for free and has no monthly service fee.
The credit card includes optional insurance coverage to protect the credit used on the card. Balance protection insurance protects the credit card holder in the event that he or she dies, is laid off, suffers from a critical illness, or becomes disabled. Visa Purchase Protection provides additional theft and specified causes of accidental damage protection for 90 days.
A second warranty can be obtained to double the original manufacturer’s warranty period of up to 24 months. Woolworths offers travel insurance that can be activated when traveling. Travel insurance can be activated if the flight ticket was purchased with the Woolworths Black Credit Card.
How the Woolworths Black Credit Card work
The Woolworths Black Credit Card is a user-friendly credit card rather than a sophisticated credit card. The black credit card operates similarly to most credit cards in South Africa, with the exception of a dedicated private banker. Black credit cards come with a dedicated private banker to assist with banking, but given the low monthly service fee, this is understandable.
Before using the Woolworths black credit card, one must first apply for it, have their application approved, and have credit allocated to them. The Woolworths Black Credit Card is accepted at any store that accepts Visa. The credit card can be used to check out at a Truworths store or online to receive 5% extra off WREWARDS items.
When the credit card is used, the credit card holder receives quarterly cashback vouchers. Outside of Woolworths, the total purchases per quarter will receive a 1% cashback in vouchers. Woolworths purchases earn 3% back in quarterly vouchers.
The credit used from the Woolworths Black Credit card must be repaid. For all credit card holders, the black credit card offers a 55-day interest-free credit period.
The credit cardholders have control over the repayments to the Woolworths Black Credit card since they have the option of repaying the debt over a period of 6 to 60 months. Repayment to the account must be at least R300.00 per month.
The Woolworths black credit card is a revolving facility, which means that money used and repaid into the account can be used again. Defaults can result in the account being closed, sent to debt collectors, and then closed, or credit being reduced. Credit cardholders should always maintain their credit card or switch to a gold credit card if they feel overindebted.
Woolworths Black Credit Card Fees 2022
| # | Details | Amount |
| 1 | Monthly service fee | R69.00 |
| 2 | Secondary card fee | Free |
| 3 | Absa ATM mini statements | R2.00 |
| 4 | Absa ATM cash deposit fee | Free |
| 5 | Absa branch cash deposit fee | R5.00 + R1.50 for every R100.00 |
| 6 | Domestic card purchases | Free |
| 7 | Cash withdrawal at Absa branch | R25.00 + R1.30 per R100.00 |
| 8 | Withdrawals at Absa supported ATM | R25.00 |
| 9 | Cash withdrawal at Saswitch | R28.00 |
| 10 | Overseas cash withdrawal | R60.00 |
| 11 | Bank cheque withdrawal | R65.00 |
| 12 | Unpaid debit order fee | R120.00 |
| 13 | Unpaid cheque fee | R120.00 |
| 14 | Card courier fee | Free |
| 15 | Initiation fee | R135.00 |
| 16 | International currency conversion fee | 2.5% |
| 17 | Balance enquiry at Saswitch ATM fee | R4.50 |
| 18 | Absa ATM balance enquiry fee | Free |
| 19 | Absa supported ATM balance enquiry fee | R4.00 |
| 20 | Absa ATM withdrawals | R25.00 |
Advantages of the Woolworths Black Credit Card
- After being granted credit, you will be automatically enrolled in WREWARDS.
- Woolworths vouchers are issued on a quarterly basis.
- Every month, you will receive two free hot beverages from Woolies Cafe.
- The monthly service fee is low.
- When you shop online at Woolworths, you get free delivery.
- There are additional cards available for family and friends.
- When using the Woolworths Black Credit Card to buy a plane ticket, you can get travel insurance.
- A large budget facility of up to 60 months is available.
- Telephone medical services are provided at no cost.
Disadvantages of the Woolworths Black Credit Card
- The Woolworths Black credit card does not come with a personal banker.
- There are no welcome bonuses.
- The credit card does not include any travel benefits.
- There is no access to a private lounge or a priority pass for travellers.
Requirements of the Woolworths Black Credit Card
- Must earn at least R41,666.00 per month.
- Have a valid South African ID book or Smart card.
- Provide a recent copy of payslip or 3 months bank statement.
- Have a proof of address that is not older than 3 months at the time of application.
Conclusion
The Woolworths Black credit card allows cardholders to earn vouchers by shopping at Woolworths or any other store. The credit card does not have a high-income requirement, as most black credit cards require R62,500.00 or more, so the account can be obtained by anyone from the upper-middle class.
