Apply for a Nedbank credit card, reviewed by our experts. On 17.02.2025, 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 07.11.2024
Nedbank offers a diverse selection of credit cards designed for various needs, including cashback, travel rewards, and low interest options. From the Nedbank Gold Credit Card with affordable fees to the American Express Platinum for high-income clients seeking luxury benefits, there’s a card to fit different spending habits and lifestyles. For those needing guidance, Nedbank’s online comparison tool allows users to evaluate features like fees, rewards, and income requirements, helping clients select a card that best matches their financial goals.
Key Features
Flexible Reward Options. Nedbank credit cards offer a range of rewards, from cashback to travel perks, enabling clients to select cards that best suit their spending habits and financial goals.
Interest-Free Days. Enjoy up to 55 days of interest-free credit on purchases when you pay your balance in full each month, providing significant savings for timely payers.
International Acceptance. With Visa and American Express partnerships, Nedbank credit cards are widely accepted globally, making them ideal for travel and international purchases.
Personalized Credit Limits. Credit limits are tailored to individual client profiles, allowing flexibility in managing spending and ensuring appropriate limits based on creditworthiness.
Enhanced Security Features. All cards come with advanced security protocols, including one-time PIN (OTP) verification for online transactions, protecting clients against unauthorized use.
Credit Cards Offered by Nedbank
New Nedbank Gold Credit Card. Annual service fee: R50 per month. Minimum income: R5,000 per month. Interest rate: 22.00%. Interest-free days: Up to 55 days. Offers affordable credit with Greenbacks rewards, complimentary card delivery, and flexibility for everyday spending.
Nedbank Platinum Credit Card. Annual service fee: R99 per month. Minimum income: R29,000 per month. Interest rate: 11.50% - 22.00%. Interest-free days: Up to 55 days. Provides unlimited cashback on travel, discounts on Apple and Samsung devices, and comprehensive travel insurance.
American Express Gold Credit Card. Annual service fee: R128 per month. Minimum income: R17,000 per month. Interest rate: 19.25%. Interest-free days: Up to 55 days. Includes Membership Rewards program, travel and lifestyle perks, and global acceptance.
American Express Platinum Credit Card. Annual service fee: R490 per month. Minimum income: R62,500 per month. Interest rate: 19.25%. Interest-free days: Up to 55 days. Offers 30,000 bonus Membership Rewards points, premium travel perks, VIP access, and dedicated customer service.
SAA Voyager Gold Credit Card. Annual service fee: R700 per year. Minimum income: R6,600 per month. Interest rate: 22.00%. Interest-free days: Up to 55 days. Earn Voyager Miles on purchases, gain access to travel promotions, and receive complimentary entry to the Voyager Miles program.
SAA Voyager Premium Credit Card. Annual service fee: R2,040 per year. Minimum income: R25,000 per month. Interest rate: 15.50%. Interest-free days: Up to 55 days. Earns Bonus Voyager Miles, includes multiple travel perks, and provides an annual Companion Ticket option.
Pros and Cons
Pros
Exclusive Travel Benefits. Certain cards, such as the SAA Voyager and American Express Platinum, provide premium travel perks, including lounge access and bonus miles, ideal for frequent travelers.
Wide Card Selection. Nedbank offers a variety of credit cards with distinct benefits and features, catering to different income levels and lifestyle needs.
Robust Digital Access. The Nedbank Money app enables efficient online management, making it easy for clients to monitor spending, set budgets, and pay bills directly from their smartphones.
Cons
Annual and Monthly Fees. Some credit cards, especially premium options like the American Express Platinum, come with higher fees, which may not suit clients seeking low-cost options.
Income Requirements. Certain cards have high minimum income requirements, potentially limiting accessibility for some clients.
Variable Foreign Transaction Fees. Foreign currency transactions can incur additional costs, which might impact clients who frequently travel or shop internationally.
How to Choose a Nedbank Credit Card?
Identify Your Spending Habits. Analyze your primary expenses, such as travel, dining, or everyday purchases. For frequent travelers, the SAA Voyager credit cards offer travel-specific rewards and companion ticket benefits. For general spending with cash rewards, the New Nedbank Gold or Platinum cards may be more suitable.
Evaluate Rewards Programs. If maximizing rewards is important, consider the card’s reward structure. The American Express Platinum card, for example, offers extensive Membership Rewards points and premium perks, making it ideal for high-spenders seeking exclusive benefits. Conversely, the New Nedbank Gold offers basic Greenbacks rewards for everyday purchases at a lower fee.
Consider Annual Fees and Income Requirements. Choose a card that fits your financial profile. For example, the American Express Platinum card has a higher annual fee and minimum income requirement, but it offers extensive luxury benefits. If you’re looking for a card with a more accessible fee structure, the New Nedbank Gold may be more practical.
Look at Interest Rates and Interest-Free Days. Cards with higher interest-free periods are beneficial if you pay off your balance monthly. Nedbank’s credit cards generally offer up to 55 interest-free days. The Nedbank Platinum offers a competitive interest rate range, making it suitable for those who may carry a balance periodically.
Use Nedbank’s Online Comparison Tool. To narrow down your options, use Nedbank’s credit card comparison tool. This tool allows you to directly compare features, fees, rewards, and benefits, helping you choose the card that aligns best with your financial goals and lifestyle.
How to Apply for a Nedbank Credit Card?
Apply Online via Nedbank’s Website. Visit the official Nedbank website and navigate to the “Credit Cards” section. Browse through the available cards, select the one that suits your needs, and click on “Apply Online.” You’ll be directed to an application form where you need to provide personal information, including your full name, contact details, residential address, income details, and employment information. Double-check for accuracy before submitting the form to initiate the processing.
Apply through the Nedbank Money App. Download the Nedbank Money App from Google Play or the Apple App Store. Log in or register if you haven’t already, and go to the credit card application section under “Products.” Select your desired credit card and complete the application form in the app. You’ll need to fill in personal details and upload required documents, such as your ID and proof of residence, directly through the app.
Visit a Nedbank Branch. For an in-person application, go to the nearest Nedbank branch. You can locate a branch using the “Find a Branch” feature on the Nedbank website or in the Money App. Bring all necessary documents: a valid South African ID or passport (if you’re a foreign national), proof of residence not older than three months, and proof of income, such as recent payslips or stamped bank statements showing salary deposits. A bank consultant will assist you in completing the application and verifying documents.
Wait for Application Processing. After submitting your application, Nedbank will review your details and may perform a credit check. The processing time can vary, but you may receive a preliminary approval or a request for additional documents if necessary. Once approved, Nedbank will notify you, and your credit card will be dispatched.
Activate Your Credit Card. Upon receiving the card, activate it by following the instructions provided by Nedbank. You can activate it through the Money App, online banking, or by calling +27 800-555-111. Activation enables you to start using your card for purchases, withdrawals, and any included benefits immediately.
Eligibility Requirements
Residency. Applicants must be South African residents. Foreign nationals residing in South Africa can apply if they have a valid visa or permit, such as a work, study, or residence permit.
Identification. South African applicants need a valid South African ID. Foreign nationals must provide a valid passport along with their visa or residence permit.
Age. Applicants must be at least 18 years old to apply for a credit card in their own name.
Income. A stable and verifiable income is required. Minimum income requirements vary by card type: Nedbank Gold Credit Card requires R5,000 monthly income, Nedbank Platinum Credit Card requires R29,000, American Express Gold requires R17,000, American Express Platinum requires R62,500, SAA Voyager Gold requires R6,600, and SAA Voyager Premium requires R25,000.
Creditworthiness. A satisfactory credit profile is required. Nedbank will evaluate credit history, credit score, payment record, and current debt obligations. A positive credit history enhances approval chances.
Proof of Income. Recent payslips or stamped bank statements showing at least three months of salary deposits are needed. Self-employed applicants may need to provide additional documents, such as tax returns or financial statements.
Proof of Residence. A recent utility bill, bank statement, or other document proving residential address is required and must be dated within the last three months.
Legal Capacity. Applicants must have the legal ability to enter into a credit agreement, meaning they must not be under any legal restrictions or guardianship that would prevent them from obtaining credit.
Reasons You May Be Denied
Insufficient Credit History. If you have a limited or non-existent credit history, Nedbank may be unable to assess your creditworthiness accurately, which could result in denial.
Low Credit Score. Nedbank assesses credit scores to determine risk levels. A score that is below their acceptable threshold for the card type may lead to rejection, as it suggests potential challenges in managing credit responsibly.
High Debt-to-Income Ratio. If your debt obligations consume a large portion of your monthly income, this high ratio could signal an inability to handle additional debt, making approval unlikely.
Unverified or Insufficient Income. Each credit card type has specific income requirements (e.g., R5,000 for the Nedbank Gold Credit Card, R29,000 for the Platinum Credit Card). Failing to meet these minimums or providing unverified income documents may result in denial.
Inaccurate or Incomplete Application Information. Any discrepancies in personal details, income, or employment status can delay processing or lead to an outright rejection. Double-checking your application for accuracy is essential.
History of Late Payments or Defaults with Nedbank. A past record of late payments or defaults with Nedbank or other financial institutions can negatively impact your application, as it raises concerns about repayment reliability.
Multiple Recent Credit Inquiries. Applying for numerous credit products within a short timeframe can signal financial instability, which may make Nedbank wary of approving a new credit card.
Lack of Legal Residency Status. Foreign nationals applying for a Nedbank credit card must have valid residency permits or visas. Lack of the necessary documentation can lead to rejection for non-residents.
Age Below Requirement. Applicants must be at least 18 years old, and for specific cards, meeting additional age criteria may be required. Falling below these minimums automatically disqualifies the application.
How to Pay Off My Credit Card Debt
Nedbank Online Banking. You can log in to Nedbank Online Banking to make a credit card payment directly. This method is confirmed in official resources but lacks a specific link to detailed instructions on Nedbank's public site.
Nedbank Money App. Payments can be made through the Money app by selecting the credit card account and following the payment prompts. This is a commonly used method that is also mentioned in official Nedbank resources.
Automatic Debit Order. Nedbank offers debit order options to automate credit card payments monthly, ensuring timely payments. This information is typically accessible under "credit card services" or "debit order" sections on Nedbank’s official resources.
In-Branch Payment. For in-person credit card payments, clients can visit a Nedbank branch. This method is frequently listed in official bank materials as an option for customers who prefer in-branch service.
External Bank Transfer. Log on to your other bank’s online banking, add Nedbank as a beneficiary with your credit card account number, enter the amount, and confirm. This method provides flexibility to pay from any South African bank account.
Editorial Opinion
Nedbank’s credit cards offer robust rewards and flexible options, making them suitable for diverse financial profiles, from everyday spending to luxury perks. High-tier cards like the American Express Platinum provide valuable travel benefits and exclusive services, though their high fees and income thresholds may restrict access. For budget-conscious users, options like the New Nedbank Gold offer accessible fees and basic rewards. The Nedbank Money app adds value through convenient digital management, though clients should be mindful of foreign transaction fees if they frequently travel. Overall, Nedbank’s credit card range is competitive, but careful card selection is essential to align costs and benefits with personal financial goals.
What benefits are included with the American Express Platinum Credit Card from Nedbank?
The American Express Platinum Credit Card includes travel insurance of up to R10 million, access to Bidvest airport lounges, a 50% discount on Nu Metro movie tickets and combo purchases, zero swipe fees, and exclusive Hertz and Avis car rental discounts.
Are there fees for using the Nedbank Money app for payments or transfers?
The Nedbank Money app allows clients to make payments and manage their accounts without data charges on major South African mobile networks. Additionally, payments made via online or mobile banking incur a fee of R8.35 per transaction.
What is the currency conversion fee for international transactions with Nedbank credit cards?
Nedbank credit cards apply a 2% currency conversion fee on all foreign transactions. This fee is consistent across all the credit cards in the Nedbank, American Express, and SAA Voyager card ranges.
Do Nedbank credit cards offer complimentary card replacement services?
Complimentary card replacements are available for certain Nedbank credit cards, including Platinum and Private Clients cards. However, there is generally a replacement fee of R150 for lost, stolen, or damaged cards if they don’t qualify for free replacement.
How can I earn additional rewards with my SAA Voyager credit card?
SAA Voyager credit cardholders earn double Voyager Miles on all eligible spending during the first month after opening their account, up to 19,000 bonus miles on their first SAA ticket, and one or more Companion Tickets annually when spending thresholds are met.
