african bank credit card

African Bank Credit Cards

WHAT HAPPENS IF MY CREDIT CARD APPLICATION IS SUCCESSFUL?

We will help you open a Credit Card account and give you a Card. Once your Credit Card is activated, all transactions will be recorded on this account.

HOW AND WHEN DO I MAKE CREDIT CARD REPAYMENTS?

Your first repayment is due seven days after your Credit Card is activated. All other installments are due on the first day of the month.

HOW DO I ACTIVATE MY AFRICAN BANK CREDIT CARD?

You can activate your Credit Card at any branch countrywide.

Or you can call our Credit Card activation service on 0861 000 444 and follow the voice prompts to create your secret 4-digit pin code.

You will need your South African Identity Document and your Credit Card to confirm certain details in branch or over the phone.

You will be notified via SMS when you can start using your Credit Card, which will be activated within 48 hours.

WHO CAN USE MY CREDIT CARD?

You need to sign your Credit Card as soon as you receive it. Only you are permitted to use it.

You can’t use it for any transactions that need an embossed Credit Card (e.g. toll roads, parking machines, or telephone or internet transactions), unless expressly authorised by us.

Once a payment has been made, it can’t be stopped unless you request a charge-back.

african bank credit card

Features & Benefits

Your African Bank Credit Card allows you more convenience and peace of mind with the following features:

  •  Your card is issued instantly in branch
  •  Up to 60 days interest-free credit on POS purchases, if you settle your outstanding balance in full by the due date
  •  Free SMS updates on transactions
  •  No need to carry cash. Swipe, then enter your PIN to complete the transaction
  •  Accepted by thousands of merchants, wherever you see the VISA logo
  •  Global Emergency Assistance. If you have lost your Visa card, we can help block your account, send a replacement card and provide emergency cash
  •  Travel Assistance. Free access to wide range of medical and legal advice for Visa Gold cardholders. Please call +44 (0) 208 762 8373 for assistance
  •  For peace of mind for life’s unexpected insurable events, we offer credit life insurance

These tips will help keep you on the right track:

  • Never use credit to fund consumption.Do not live on the available balance on your credit card. Make sure to pay the outstanding balance on your credit card every month. Look into credit offers from banks that include long interest-free credit periods of up to 60 days. You can use the interest-free period for purchases and settle the balance in full every month, without paying interest.
  • Avoid using credit to pay off debt. Rather stop and reassess your financial situation. Speak to an advisor and see what your options are. It may mean some cutting back on expenses but will be worth it when you reduce your debt.
  • Use your credit card’s interest rate to your advantage. From a credit perspective, interest rates on credit cards are relatively lower than interest rates on personal loans. According to the National Credit Regulator, the maximum interest rate on credit cards is 20.5% and the maximum interest rate on personal loans is 27.5%. Interest rates offered are dependent on the individual’s risk profile. A credit card may come at a lower interest rate than a personal loan if you need to apply for credit.

Be weary of credit card fraud

Follow these credit card security tips:

  • Don’t disclose personal information such as passwords and PINs when asked to do so by anyone via telephone, fax or even email.
  • Don’t carry unnecessary personal information in your wallet or purse.
  • Don’t write down PINs and passwords and avoid obvious choices like birth dates and first names.
  • Don’t use any Personal Identifiable Information (PII) as a password, user ID or personal identification number (PIN).
  • Don’t use Internet Cafes or unsecure terminals (hotels, conference centers etc.) to do your banking.
  • Review your account statements on a timely basis and query disputed transactions with your bank immediately.
  • When shopping online, only place orders with your card on secure websites.
  • Do not send e-mails that quote your card number and expiry date.
  • Ensure that you get your own card back after every purchase.
  • Report lost and stolen cards immediately.
  • Destroy your credit card receipts before discarding them.
  • Never let the card out of your sight when making payments.
  • If you have a debit, cheque and credit card, don’t choose the same PIN for all of them. If you lose one, the others will still be safe.
  • Chipped credit cards also require a PIN for transactions at points of sale when paying for goods or services.