The Private Banking Credit Card can only be given to those who have a primary account with ABSA. If you do have a primary account and you make a gross income of R 62 500.00 per month, then you are able to qualify for the ABSA Private Banking Credit Card.
The following accounts are considered a Primary account:
- Private banking account
- Private banking seniors cheque account
Key Highlights of the ABSA Private Banking Credit card:
- International acceptance which means that you can use your card overseas
- Unlimited access to Bidvest airport lounges in South Africa
- Buyers protection
- Extended warranty
- You have the ability to temporarily lock your card or do transfers from your ABSA banking app
- Budget facility which means that you can either purchases goods straight or you can put it on a budget for up to 6 months to pay it back on your card
- Card can be used for online purchases
- Online payments with One Time Pin or 3D secure transaction verification
- You can link your card to MasterPass or Walletdoc to pay for your items using a safer and smarter payment method
- You get a dedicated private banker who will help you manage your finances from a business, personal and family point of view
- Get an email or SMS notification for all your account activities
Features and Benefits
- Chip and pin security
- Up to 57 days interest-free period
- No transaction fees on purchases
- Lost card protection
Fees and Charges associated with the ABSA Private Banking Credit Card
The fees below are reflective as of the 26th of October 2020. Please note that these fees might change without notice depending on the new Terms and Conditions.
- A single monthly fee that covers:
- All credit card fees
- secondary cards
- garage cards
- lost card protection
- ABSA ATM transactions
- balance check on an ABSA ATM
- Cash withdrawals at ABSA ATM
- Fund transfers
- Account payments
- Cash deposits at a ABSA Branch: R 60.00 plus R 2.00 per R 100.00
- Cash deposits at the ABSA ATM: R 2.00 per R 100.00
- Cash withdrawals at ABSA Supported ATM: R 6.00 plus R 2.00 per R 100.00
- Cash withdrawals at a bank branch: R 75.00 plus R 2.10 per R 100.00
- Cash withdrawals at an international ATM: R 75.00
- Cash withdrawals at Saswitch ATM: R 11.50 plus R 2.00 per R 100.00
- Basic travel insurance: Free
- Unpaid debt order: Free
- Mobile banking: Free
Application Eligibility for The ABSA Private Banking Credit Card:
- A primary account holder with ABSA already
- Earn a minimum gross income of R 62 500.00 per month
How to Apply Online for a ABSA Private Banking Credit Card
There are two ways that you can apply for your ABSA Private Banking Credit Card.
Firstly, you can go into the bank, and let them know that you want this credit card option. They will then let you fill in the forms there and then and you will wait to hear if you qualify for the credit card.
Otherwise, you can go onto your ABSA banking app or on your online profile and request that you want to have the Private banking credit card. Once again, they will check to see if you can have the card and will let you know once they have done the check.
The nice thing about applying for private banking is that you need to be part of ABSA already which means that they already have your documents on their system. This is going to make the process go faster and you should hear back from them within 7-10 working days.
Once you get approved, if your card gets delivered to you or you go collect it, make sure that you have your ID with you to prove that they are giving the card to the right person.
You will need to have the following papers with you before you apply:
- Valid South African ID green book or Smart Card
Pros and Cons
There are a few pros and cons to the ABSA Private Banking Credit Card:
- Personal banker
- Notifications when something is going on in your account
- 57 days interest-free if your account has been paid in full
- You need to be an ABSA Primary card holder in order to apply for the Private Banking Credit Card
Why should you choose this card?
If you are making enough money to qualify for this credit card, then it is a great option for you to have as you have access to 24 hours bankers as well as a personal banker who is going to help you manage your money so that you do not have to worry about it.
Overall, we give the ABSA Private Banking Credit Card 9/10