Obtaining a credit card as a student can be challenging, especially if you are unemployed. In many circumstances, getting a credit card as a student is nearly impossible because the risk of granting credit to students is too high.
Absa provides students with the opportunity to own a credit card and build a solid credit score before getting employed. A student does not need to be working at the time of application for the Absa Student credit card. To be eligible for the Absa student credit card, you must receive a monthly allowance.
Qualifying students are those that are enrolled in a full-time program at a South African university, a FET college, a university of technology, or a private tertiary institution. The Absa Student credit card offers the least features for a credit card at Absa. However, this is due to the fact that the credit card is free and does not require much in terms of qualifying.
The Absa Student Credit card is a good credit card for a student to have and start building a credit profile. To help you better understand the credit card, we discuss it in detail below.
The Absa Student credit card is available to students enrolled in a FET College, a SAQA institution, a private or public university. Students between the ages of 18 and 30 years who earn a minimum monthly income of R800.00 are eligible for the credit card.
The Absa Student credit card offers 57 days of interest-free credit on qualifying purchases. The account has no monthly account fee and all purchases made with the account are free. Absa’s digital platforms are also available for free.
The Absa Student credit card has fees in addition to free transactions and services. These fees are listed in the table below.
Fee Description | Amount |
---|---|
Monthly Account Fee | Free |
Monthly Credit facility Fee | Free |
Secondary Card Pre month | N/A |
Cash deposit at an Absa ATM | R2.50 per R100.00 |
Cash deposit at an Absa Branch | R4.00 per R100.00 |
Cardless cash deposit at an Absa ATM | R2.50 per R100.00 |
Cash withdrawal at an Absa Branch | R80.00 + R2.50 per R100.00 |
Cahh withdrawal at an Absa ATM | R2.50 per R100.00 |
SASWITCH ATM cash withdrawal | R10.00 + R2.50 per R100.00 |
Cash withdrawal at an overseas ATM | R80.00 |
Point of sale purchase | Free |
Prepaid purchases | R1.50 |
Lotto purchases | R2.70 |
Account payments at an Absa ATM | R10.00 |
Account payments at an Absa Branch | R80.00 |
Interbank payments at a branch | R80.00 |
Interbank payments at a Absa ATM | R11.50 |
Funds transfer fee | Free |
Cash send | R2.50 per R100.00 |
Beneficiary verification online | R7.00 |
The Absa Student credit card serves as a first step in obtaining a credit card for students. All they have to do is produce documentation of receiving a monthly allowance of R800.00 or more and be enrolled in a tertiary institution. Based on the qualification standards, this may be the easiest credit card to obtain at Absa.
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