Credit cards have become an indispensable part of our lives. Banks have realized that to keep customers hooked, they need a lot more than just the promise of letting people pay their bills at a later date.
For this reason, there is fierce competition among different credit card companies as to who offers the best services with their offerings. It is not just about bills anymore; it’s about rewards, cashback, and more.
The same goes for Nedbank Credit Cards. With an excellent payment system and lots of perks, this South African Bank has found a sizable chunk in the market when it comes to customers looking for the best bang for their buck. In this article, we talk about how to apply for the Nedbank Classic Credit Card and all the perks that come with it.
Benefits and Features
The Nedbank Classic Credit Card offers its customers a lot of exciting perks. These include zero transaction fees, free credit life cover, complimentary transactional messages, global ATM access, and automatic basic travel insurance.
In addition, you can join the Nedbank Affinity Programme, where you can choose to support a cause that is close to your heart, without no cost to you. With the Nedbank Affinity Programme, you can support the environment, local arts, needy children or assist in sports development.
The most important perk of this card is its 55 day interest-free grace period, which is almost twice as that of standard cards. This means that you can pay your bills within 55 days without zero APR charges.
Pros and Cons
The most important perk of this card is that you get a 55 day grace period, which is almost twice as that of standard cards. This means that you can pay your bills within 55 days without zero APR charges.
Even though Nedbank Credit Cards have a lot of pros, they come with their fair share of cons.
The minimum annual salary of R5,000/per month is on the higher side for qualification, which makes it inaccessible to a lot of people. You also get no greenback bonus points for the Classic version of their credit card.
Eligibility Info and How to Apply
If you want to apply for a Nedbank Classic Credit Card, you need to keep a few things in mind. You should be an adult over 18 years of age residing in South Africa, and you need a good credit score to pass the background check. You must also make more than R60,000 per annum to qualify.
If you fit the requirements mentioned above, you can easily apply for the Nedbank Classic Credit Card through their website. You will need a copy of your ID document and proof of income, which can include three months’ bank statements or payslips.
Credit Card Fees
As with every credit card, the Nedbank Classic Credit Card comes with its fees that you will incur once you start using it. These fees are mentioned below.
- Maintenance fees – R37
- Once-off initiation fees – R180
- Cash withdrawal at a Nedbank ATM – R2,50 per R100
- Cash withdrawal at another ATM – R12 plus R2,50 per R100
- Credit facility service fee – R21
- Additional card fee – R35
- Greenback linkage fee – R27
- Nedbank ATM deposit fee – R1,50 per R100
- International currency conversion fee – 2%
This is not an exhaustive list of rates. You can find more information online or by speaking with a bank representative.
Nedbank Contact Information
Nedbank’s head office is located at 135 Rivonia Road, Sandown, 2196 Sandton, South Africa.
If you want to call them, you can reach them on 0860 555 111 for credit card-related enquiries.
Credit cards can be a boon or bane to your financial success, depending on how you use them. Make sure that you do not go past your credit limit, pay your bills on time, and spend responsibly, and the Nedbank Classic Credit Card will be an excellent addition to your wallet.
Disclaimer: There are risks involved when using credit card products. Always be sure to read the bank’s terms and conditions page for more information.