Absa Bank has numerous types of credit cards some of which require you to have an account with the bank and others are given even without opening an account with ABSA Bank.
Customers can use their credit cards conveniently through Internet banking to make money transfers, buy airtime, and shop online. The cards can also be required used to withdraw money from an Absa bank ATM and make deposits among other things.
The most popular Absa credit cards are the Platinum Credit Card and Classic Credit Card. However, in this article, we share more Absa bank credit cards that you may not know about.
Different types of Absa bank credit cards
Platinum Credit Card
The Platinum Credit Card from Absa Bank has amazing features and advantages. It is meant for the bank’s wealthy clientele.
Requirements
- Identification document (passport/national ID/driver’s license)
- The latest proof of income (payslips, fixed deposit certificate)
- Financial card copy
Benefits
- No registration costs
- Credit with no interest for up to 50 days
- 3 maximum additional cards
- Free eStatements each month
- Free setup of direct debit
- Free travel protection
- Rewards
- Discounts at the allies we work with
- Free exchanges
- Free online banking is available for managing credit cards.
What you should know about the Platinum Credit Card
- Net monthly salary of UGX 4,000,000 and higher, or fixed deposit as cash security
- 4% in-country currency markup for international transactions
- Monthly minimum repayment of 5%
- A 3% interest rate is charged on any unpaid bills.
- 6% minimum cash access cost using ATMs. UGX 10,000
- Overage charge of 6%
- 10% minimum late payment fee (UGX 10,000)
Classic Credit Card
The Classic credit card can be used to shop for groceries, pay for fuel and even purchase airtime. Here’s more about this type of credit card.
Requirements
- Identification document (passport/national ID/driver’s license)
- The latest proof of income (payslips)
- Financial card copy
Benefits
- Zero joining fees
- Interest-free period of up to 50 days
- Enjoy free monthly eStatements
- Free direct debit set up
- Free transactions
- Free Internet banking service to help manage your credit card
- Rewards and discounts at ABSA’s alliance partners
- 40% of the card limit up for cash withdrawal
What you should know about ABSA’s classic card
- Earn between UGX1,500,000 and UGX3,999,999 in net monthly income.
- UGX3,000,000 in cash cover (fixed deposit) is required.
- 4% in-country currency markup for international transactions
- Monthly minimum repayment of 5%
- 3.5% interest is charged on any bills that are still unpaid.
- 6% minimum ATM access fee for cash. UGX10,000
- 6% overage charge
- A 10% minimum late payment fee is applied.
Company Credit Card
With ABSA’s Company Credit Card, you can have the best tools will be at your disposal so you can effortlessly control and monitor your business’s spending while also enhancing cash flow.
Requirements
- A formal letter outlining all the cardholders listed, along with their approved credit limits
- A board decision identifying the designated cardholders and the assigned restrictions
- Identification card for designated cardholders (passport, national ID, or driver’s license)
- Valid foreign national employment visa
- A copy of the company credit card
- What you get with a company credit card
Benefits
- Business Platinum Credit Cards for Selected Employees
- No joining costs
- Credit with no interest for up to 50 days after complete payment
- 33 million stores in 150 countries accept it
- Free eStatements each month
- Free setup of direct debit
- Discounts and incentives at our alliance partners
- Free exchanges
What you should know about the Company Credit card
- You must have an Absa business or corporate account
- 100% cash security for the entire limits to be assigned on all cards, in the form of a fixed deposit
- Monthly minimum repayment of 100%
- A 3% interest rate is charged on any unpaid bills.
- Overage charge of 6%
- 10% late payment penalty with a minimum of UGX10,000
- 4% in-country currency markup for international transactions
Absa Prepaid cards
Because Absa prepaid cards are Visa Prepaid Cards, you can use them whenever, wherever, and even online, eliminating the need to carry large amounts of cash.
These are the Payroll Prepaid Cards and Cobrand Prepaid Cards.
Payroll Prepaid Card
The convenient, safe, and smart method of paying and receiving money is with this card.
The card does not require your employee to have a bank account. Simply put money on the card, and they can use it to make purchases while keeping their paycheck secure.
Benefits
- Buy Airtime
- Pay for fuel
- Secure your salary
- Go shopping
- Pay for your bills online
Cobrand Prepaid Card
With the help of Absa, provide clients with prepaid cards bearing your company’s logo.
You provide your clients with the ease of a transactional card without a bank account when you make available your company’s branded prepaid card in association with Absa.
Card features and benefits:
- PIN approval is required for transactions before they can be processed, which increases security.
- The card functions similarly to a debit or credit card while shopping online.
- Multiple options for uploading via mobile money (Airtel, MTN)
- There are transactional, reward, and gift cards available.
- Your client gets transactional and top-up SMS messages.
- The card is accepted in over 30 million merchant locations across 150 nations.
- The card can be remotely topped off.
Conclusion
In all situations or for all persons, no one credit card is far better than all others.
However, by being aware of your alternatives and making the necessary inquiries, you can choose the right ABSA credit card that best suits your credit position and spending patterns.
