Apply for a Capitec Bank credit card, reviewed by our experts. On 10.02.2025, you have access to credit cards options. Increase your chances of approval by filling out a multi-application with a free credit rating check.
Update 30.10.2024
Capitec Bank offers a streamlined credit card solution that combines essential features for a broad range of financial needs, including cashback on purchases, competitive interest rates, and comprehensive travel benefits. As a single-product offering, the Capitec credit card is tailored to serve as a versatile financial tool. Designed to support seamless online and in-store transactions, the Capitec credit card integrates digital wallet compatibility with platforms like Apple Pay, Samsung Pay, Garmin Pay, and Google Pay, allowing clients to manage spending and rewards effortlessly. Additionally, Capitec’s clear, straightforward fee structure and online application process make it easy for users to access and personalize their credit options, offering a balance of simplicity and value without the need for multiple card comparisons.
Key Features
Cashback on Spending. Cardholders earn 1% cashback on all purchases, whether made in-store, online, or through digital wallets, helping customers turn everyday spending into savings.
Interest-Free Period. Enjoy up to 55 days of interest-free credit on purchases, provided the balance is paid in full by the due date, making it a valuable feature for those who manage their repayments.
No Foreign Transaction Fees. Capitec’s credit card includes zero fees on international purchases, ideal for customers who frequently travel or shop internationally.
Digital Wallet Compatibility. The Capitec credit card supports Apple Pay, Samsung Pay, Garmin Pay, and Google Pay, enabling secure, contactless payments directly from mobile devices.
Credit Cards Offered by Capitec Bank
Capitec Credit Card. Capitec Bank offers a single credit card that combines key benefits, allowing clients up to R500,000 in credit with low interest rates starting from prime. The Capitec credit card includes 1% cashback on all purchases, provides up to 55 days of interest-free purchases, and has zero foreign transaction fees, ideal for international spending. With compatibility across Apple Pay, Samsung Pay, Google Pay, and Garmin Pay, this card offers convenient, contactless payment options. Additionally, cardholders can enjoy travel benefits, including up to R5 million in free travel insurance, setting Capitec’s credit card apart as an all-in-one solution without requiring multiple card types.
Pros and Cons
Pros
User-Friendly Payment Integration. Capitec credit cards are compatible with various digital wallets, enabling secure and convenient contactless payments through multiple devices for easier, everyday transactions.
Simple Application Process. Applying for a Capitec credit card is straightforward, with options to apply online, via the mobile app, or in-branch, allowing clients flexibility in how they begin their credit journey.
Transparent Terms and Conditions. Capitec’s credit card offers clear, upfront terms, including information on fees and repayment options, making it easier for customers to understand and manage their credit.
Cons
Limited Card Options. With only one credit card type, Capitec may not meet the needs of clients looking for specialized cards, such as those with advanced travel rewards or tailored business benefits.
Dependence on Credit Card for Cashback Benefits. Accessing cashback requires using the Capitec credit card, which may not appeal to customers who prefer reward benefits on a range of banking products.
Interest Rate Variability. The interest rates are based on the individual’s credit profile, which may result in higher rates for clients with lower credit scores, potentially impacting affordability for some users.
How to Choose a Capitec Bank Credit Card?
All-in-One Solution. Capitec offers a single, versatile credit card that combines benefits typically found across multiple card types, eliminating the need to choose between travel, cashback, or low-interest options since all features are integrated.
Credit Limit and Affordability. Capitec’s single credit card offers a high credit limit of up to R500,000, tailored to individual affordability. If you require substantial credit, this limit provides flexibility for both small and large purchases.
Interest Rates and Cost Considerations. With a variable interest rate between 11.50% and 22% depending on your credit profile, it’s essential to evaluate your repayment capability to optimize this card's value. Ensure the benefits align with the monthly fee of R50 and initiation fee of R100.
Spending and Cashback. Capitec’s card includes 1% cashback on all purchases, whether in-store, online, or through digital wallets like Apple Pay and Google Pay. This feature is ideal if you regularly spend on essentials, helping you gain rewards on everyday transactions.
Additional Benefits and Travel Savings. With no foreign transaction fees and travel insurance coverage up to R5 million on qualifying purchases, this card is highly advantageous for international travelers, eliminating extra currency exchange costs and providing valuable protection.
How to Apply for a Capitec Bank Credit Card?
Apply Online via the Website. Go to the Capitec Bank website, navigate to the credit card section, and click “Apply Now” to begin your application. Select "Credit Card" as your product, specify the requested amount, enter your personal information, and follow the prompts to confirm your identity.
Use the Capitec Bank App. Download the Capitec Bank app, log in or register, and locate the credit card application section. Enter your required credit limit, fill in personal details, and submit your application through the app for a seamless process.
Apply in branch. Use the Capitec Bank branch locator on the website to find your nearest branch. Bring along your South African ID, recent salary slip, and a 3-month bank statement when you visit. A consultant will assist you with completing the credit card application, verifying your details, and submitting your application.
Wait for Approval. Capitec Bank will review your submitted application, conduct a credit assessment, and notify you of the decision. Once approved, arrangements will be made for card delivery or collection.
Activate Your Card. After receiving your credit card, activate it by following the instructions on the app or by contacting Capitec’s customer support. This will enable you to start using your credit card for transactions.
Eligibility Requirements
Residency. Applicants must be South African citizens or residents with a valid South African ID.
Age. You must be at least 18 years old to apply for a Capitec Bank credit card.
Income. A minimum monthly income of R5,000 is required to qualify. Proof of income is needed, typically in the form of a recent payslip.
Banking History. Capitec may require a 3-month bank statement to verify regular income deposits and assess creditworthiness.
Creditworthiness. Capitec Bank conducts a full credit assessment, considering credit history and current debt-to-income ratio, to determine credit limit eligibility and interest rates.
Required Documents. Applicants must bring a valid South African ID, a recent payslip, and a 3-month bank statement to complete the application in-branch or online.
Reasons You May Be Denied
Insufficient Credit History. Without an established credit history, Capitec Bank may find it challenging to assess your creditworthiness, impacting approval for a credit card.
Low Credit Score. A low credit score or negative credit history, such as missed payments, can lead to denial as Capitec Bank requires a reliable credit profile for approval.
High Debt-to-Income Ratio. If a significant portion of your income is already allocated to existing debt, this could indicate that additional credit may be difficult to manage, resulting in a declined application.
Insufficient Income. A minimum monthly income of R5,000 is required to qualify. Applications may be denied if this threshold is not met or if income documentation is incomplete or unverified.
Incomplete or Incorrect Application Information. Providing accurate personal and financial details is essential. Any inaccuracies, missing documents, or unverified income could lead to automatic denial or delays in processing.
How to Pay Off My Credit Card Debt
Capitec Mobile Banking App. Cardholders can log in to their Capitec Mobile Banking app, navigate to their credit card account, and make payments directly from linked Capitec or external bank accounts, allowing for flexibility in managing payments.
Internet Banking. Through Capitec’s internet banking platform, users can transfer funds to their credit card accounts. This option provides a convenient way to make payments from anywhere with internet access.
Debit Orders. Setting up a debit order allows automatic monthly payments to ensure timely credit repayment. This aligns with Capitec’s general process for maintaining consistent repayment schedules and helps avoid missed payments.
Editorial Opinion
Capitec Bank’s credit card offers a compelling blend of simplicity and value with features like 1% cashback, no foreign transaction fees, and competitive interest rates tailored to individual credit profiles. Its streamlined approach - a single card with broad functionality - is ideal for clients who prefer straightforward benefits without the need to sift through multiple card options. While the high credit limit and travel insurance enhance its appeal for both domestic and international spending, the lack of specialized options may be limited for those seeking premium perks or rewards tailored to specific categories like travel miles or luxury benefits. Overall, this card is an excellent choice for clients prioritizing simplicity, consistent cashback, and digital wallet compatibility, though those seeking highly specific rewards may wish to consider alternative options.
Capitec credit cardholders earn 1% cashback on all transactions, whether in-store, online, or via digital wallets like Apple Pay and Google Pay. Cashback is automatically applied to qualifying accounts in good standing and is paid into a dedicated savings account through the "Live Better" rewards program.
What happens if I miss a payment on my Capitec credit card?
Missing a payment can impact your credit profile and incur penalty fees. Capitec advises setting up automatic debit orders to ensure timely payments, which helps maintain a strong credit history and avoid extra charges.
Can I use the Capitec credit card internationally without fees?
Yes, Capitec does not charge foreign transaction fees, making it cost-effective for international purchases. The card's zero foreign transaction fee feature is especially beneficial for travelers or customers who frequently shop abroad.
How can I increase my credit card limit?
To request a limit increase, Capitec may conduct a credit assessment based on your financial standing and payment history. Contact customer support or visit a branch to explore your options, as increases depend on your creditworthiness and income.
What security measures does Capitec offer for online credit card transactions?
Capitec employs advanced security features, including OTP (One-Time Pin) verification, to protect against unauthorized transactions. Cardholders can also manage daily limits through the Capitec app for additional security control.