Absa Premium BankingCredit Card is a private banking credit card available to individuals earning R25,000.00 or more. The credit card has a R138,000.00 maximum credit limit. Credit card holders are automatically enrolled in the Absa credit rewards program, which allows them to earn up to 30% real cash back.
The Absa Premium Credit Card has a R62.00 monthly account fee. The credit card also has a monthly credit facility fee of R30.00. For a one-time fee of R16.50, credit card holders can obtain a secondary card.
The Absa Premium Banking Credit Card includes 12 free visits to Bidvest Airport lounges per year. Furthermore, credit card holders automatically receive R3 million in basic travel insurance for travel emergencies.
The Absa Premium Banking Credit card also comes with a number of benefits that credit card holders can enjoy, which are detailed below.
Absa Premium Banking Credit Card Benefits
Comes with access to all Absa digital platforms.
Comes with a dedicated private banking line that is available to help clients with their banking needs.
The credit card has a 57 days interest-free credit on purchases.
There are no charges for purchases with the Premium credit card locally and overseas.
The credit card has lost card protection that covers credit if a client’s card is stolen or lost.
Comes with the buyers’ protection that covers theft, accidental damage or non-delivery of eligible purchases.
The credit card has extended warranty on goods purchased.
The credit card comes with an automatic basic travel insurance cover that covers a number of travel emergencies.
Comes with a credit life protection to protect and cover the outstanding debt of a client should they die, have a dread disease or become permanently disabled.
The credit card has a monthly fixed repayment that is always client to budget smart.
Must earn a minimum monthly income of R25,000.00 or more.
Must have a South African ID book or Smart card.
Need to be over the age of 18 at the time of application.
Proof of residence that is not older than 3 months at the time of application.
The latest proof of income for three consecutive months.
Must have a good credit score.
Conclusion
The Premium banking credit card has a low minimum income requirement when measuring the benefits versus the cost of getting the credit card. The credit card gives credit cardholders a chance to bank private and also receive travel and lifestyle benefits that are convenient.
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Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips.
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Email: lethabo@rateweb.co.za
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