9 Best Credit Cards for Students in South Africa ✔️ (2024) (2024)

The 9 Best Credit Cards for Students in South Africa (2024) – Reviewed. We have Rated and Reviewed the 9 Best Credit Card Options for Students who wish to Study locally or travel abroad.

In this in-depth guide, you will learn:

1. The Best Credit Cards for Students in South Africa – a List
2. What’s the Best Type of Credit Card for Students with no credit, and no income at the age of 18?
3. What is Bad Credit, Good Credit, and Fair Credit? – Explained
4. The Best Credit Cards for Students from Discovery Bank, Absa, African Bank, Standard Bank, and Capitec – Reviewed.
5. Are there Credit cards for Students with Instant Approval to Build Credit?
6. The Best Credit Cards for Students Who are traveling abroad (No Foreign Transaction Fees + International Travel Insurance)
7. Can Students Get a Credit Card without a Credit Check or Payslip?

And much, MUCH more!

9 Best Credit Cards for Students in South Africa – A Comparison

9 Best Credit Cards for Students in South Africa (2024)

1. ☑️ Discovery Bank Gold Card – Overall, the Best Credit Card for South African Students
2. ☑️ Absa Student Card – Interest-Free Credit and Travel Insurance
3. ☑️ African Bank Black Card – 62-day interest-free credit on all transactions
4. ☑️ Standard Bank Blue Card – Personalised Annual interest rate (APR)
5. ☑️ Standard Bank Gold Card – Mid Range to Low Income Required
6. ☑️ African Bank Gold Card – Credit card life insurance
7. ☑️ Capitec Global One – No Currency Conversion Fees
8. ☑️ Absa Transact Card – Popular Choice from a Trusted Credit Provider
9. ☑️ Absa Gold Card – Extremely low monthly fee

Discovery Bank Gold Credit Card

The variable interest rates that come with the Discovery Gold Credit Card are one of the nicest perks that come with the card since they reward you for being responsible with your money.

Discovery Bank is a reliable provider of credit cards, and it provides its customers with a variety of privileged advantages, lifestyle rewards, and other advantages. The Discovery Bank Gold Credit Card comes with a number of benefits, one of which is a cashback rebate of up to forty percent on certain transactions, such as those made at grocery stores, on Uber rides, and at petrol stations.

You will receive 10 Discovery Miles as a reward for every R1 that you earn in rewards, and these Discovery Miles can be used for airline tickets. When a customer makes the decision to spend their miles, they are eligible for savings of up to thirty percent. This alone makes The Discovery Bank Gold Credit Card one of the Best Credit Cards for Students who are traveling abroad.

Discovery Bank Gold Credit Card Fees and Interest Rates

• ✅ Monthly account fee: R30
• ✅ Monthly Vitality Money premium: R25
• ✅ Monthly single credit facility fee: R35
• ✅ Total monthly account fee: R90

Interest Rate:

• ✅ Up to 2% interest on your positive balances in your everyday accounts.
• ✅ Up to 6.75% interest on demand savings accounts.
• ✅ Up to 4% less interest on your borrowing rate.

Discovery Bank Gold Credit Card Conditions, Application, Limits, and, Utilization Rates

You may open an account in less than five minutes using the Discovery Bank app after downloading it. Discovery also offers a webpage where you may give your information and receive a callback. To figure out your credit utilization rate, or credit utilization ratio, just divide the amount of open credit you have available by the amount you are borrowing at the moment.

Your percentage of available credit to the total amount of debt you have is called something else. The ratio is the same as dividing your total credit limit by the total amount of money you owe.

Most of the time, this number is shown as a percentage. In other words, you’re using up half of the total amount of cash you can use. Your credit utilization rate is 50% if you have R10,000 in open credit on two credit cards but only use R5,000 on one card.

Discovery Bank Gold Credit Card Customer Review

🥇 Excellent Rewards.

I’m a working student who loves to travel so the Discovery Gold Credit Card rewards really for when buying airline tickets. Also, cashback on groceries really helps me save. – Joan

Discovery Bank Gold Credit Card Pros and Cons

Absa Student Credit Card

There is no monthly cost for the ABSA student credit card. To be eligible for the ABSA student credit card, you must be a registered full-time student with a valid South African ID and a monthly income of at least R800.

The ABSA student credit card allows you to make free purchases. To withdraw money from an ABSA ATM, the cost is R3.95 plus 1.15% of the withdrawn amount, and R9.95 plus 1.15% from a different bank’s ATM.

The ABSA credit card has an R200 limit rate. A monthly minimum repayment of 3% of the outstanding balance is required. When you have a positive balance, you will be paid an interest rate of 0.2%.

Absa Student Credit Card Fees and Interest Rates

• ✅ No monthly fee

The prospective interest rate is not provided upfront however you do get up to 57 days interest-free on qualifying transactions.

Absa Student Credit Card Conditions, Application, Limits, and, Utilization Rates

To apply for an Absa student card you must fulfil the following criteria:

• ✅ Monthly income:Minimum monthly income or allowance of R800
• ✅ Age:Between 18 and 30 years
• ✅ Documentation required: Valid South African ID book or smart card, proof of residence, and the latest proof of income for three consecutive months
• ✅ Student registration: You must be a registered full-time student at a FET college, SAQA-approved institution, university, university of technology, or private institution

Your credit utilization rate, also referred to as your credit utilization ratio, is the amount of revolving credit you are using divided by the total amount of revolving credit you have available. It is the total amount of your current debts divided by your credit limit.

Absa Student Credit Card Customer Review

🥇 Build Credit!

This credit card really helped me build a solid credit history which helped me so much after university. – Charmaine

Absa Student Credit Card Pros and Cons

African Bank Black Credit Card

The African Bank Black Credit Card has a minimal annual fee and an interest-free grace period of 62 days. The African Bank Black Credit Card is appropriate for customers who need the facility but cannot exceed their monthly spending limit.

The African Bank Black Credit Card comes with a multitude of benefits, such as up to 62 days of interest-free credit for POS grocery purchases, free access to African Bank digital channels, free access to credit scores, access to Credit Life Insurance, free swipes at any till point when grocery shopping in South Africa, up to 3% annual interest on a positive balance, and secure online shopping.

African Bank Black Credit Card Fees and Interest Rates

• ✅ Monthly service fee: R55.00
• ✅ Card replacement fee: R125.00
• ✅ Initiation fee: R125.00

Positive African Bank credit card balances are eligible to earn up to 3% in interest.

African Bank Black Credit Card Conditions, Application, Limits, and Utilization Rates

For a personalized online Credit Card offer, you will need the following materials:

• ✅ Most recent income verification.
• ✅ The minimum age to register for a credit card is 18.
• ✅ Most recent bank statement reflecting three months of salary deposits.

Your credit utilization rate, which is sometimes referred to as your credit utilization ratio, is calculated by dividing the amount of revolving credit you are now utilizing by the total amount of revolving credit you have access to.

In other terms, it is the total amount of your current debt divided by the maximum amount of credit you are allowed to have.

African Bank Black Credit Card Customer Review

🥇 Simple Application.

It was extremely simple to apply for credit with African Bank, and their service was outstanding. – Erica

African Bank Black Credit Card Pros and Cons

Standard Bank Blue Credit Card

The Standard Bank Blue Credit Card is one of the most reasonably-priced credit cards that provide convenience for everyday banking. However, because it is the least expensive option, it does not provide many advantages.

To qualify for 55 days of interest-free credit, customers must repay their credit in full within 55 days of receipt.

Standard Bank Blue Credit Card Fees and Interest Rate

• ✅ Monthly card fee: R40

Interest rates are personalized ranging from a minimum of 11.75% (prime – 0.25%) to a maximum of 22.25% (Repo rate + 14%) as per the NCA regulation.

Standard Bank Blue Credit Card Conditions, Application, Limits, and, Utilization Rates

To apply for a Standard Bank Blue Credit Card, follow the steps below:

• ✅ Sign in to your Internet Banking profile to apply online.
• ✅ On the top navigation menu, select Borrow and enter your information.
• ✅ Follow the on-screen instructions to determine which credit card you are eligible for.

Your credit utilization rate, also known as your credit utilization ratio, is the amount of revolving credit you’re utilizing divided by the total amount of revolving credit you have available. It is computed by dividing the total amount of outstanding debt by the credit limit.

Standard Bank Blue Credit Card Customer Review

🥇 Affordable.

This was really affordable to me as my first credit card. – June

Standard Bank Blue Credit Card Pros and Cons

Standard Bank Gold Credit Card

The Standard Bank Gold Credit Card offers some of the finest benefits that a South African credit card of the highest tier can offer. Few, if any, other cards can match the benefits this card provides.

In addition to a variety of insurance, travel, and lifestyle incentives, this credit card is designed exclusively for first-time credit card customers. Customers with a gold credit card are required to pay at least 3% of their outstanding balance each month.

Standard Bank Gold Credit Card Fees and Interest Rates

• ✅ Monthly card fee: R23
• ✅ All secondary cards: R25
• ✅ Cash withdrawal at ATM: R8 per R1 000 up to R3 000 thereafter R2.20 per R100

For the Standard Bank Gold Credit Card, the Interest rates are personalized ranging from a minimum of 11.75% (prime – 0.25%) to a maximum of 22.25% (Repo rate + 14%) as per the NCA regulation.

Standard Bank Gold Credit Card Conditions, Application, Limits, and, Utilization Rates

To apply for a Standard Bank Gold Credit Card, follow the steps below:

• ✅ Sign in to your Internet Banking profile to apply online.
• ✅ On the top navigation menu, select Borrow and enter your information.
• ✅ Follow the on-screen instructions to determine which credit card you are eligible for.

Your credit utilization rate, also known as your credit utilization ratio, is the ratio between the amount of revolving credit you’re using and the total amount of revolving credit you have available. It is the sum of all your outstanding debts divided by your credit limit.

Standard Bank Gold Credit Card Customer Review

🥇 Excellent Benefits.

Excellent benefits with reasonable terms. – Kate

Standard Bank Gold Credit Card Pros and Cons

African Bank Gold Credit Card

The African Bank Gold Credit Card includes all standard credit card features and more at no additional cost. The fact that they offer standard insurance plans at no additional cost makes them popular among other credit facilities.

By eliminating the need to transport cash, the Gold Credit Card simplifies transactions. Simply swipe it at any machine that accepts Visa and enter your PIN to finalize the transaction. The African Bank Gold Credit Card is accepted by thousands of retailers who accept Visa payments.

After acquiring your Credit Card, you must wait four months before increasing your credit limit.

African Bank Gold Credit Card Fees and Interest Rates

• ✅ Monthly fees: from R55
• ✅ Initiation fee: R125

Positive African Bank credit card balances may accrue up to 3 percent interest.

African Bank Gold Credit Card Conditions, Application, Limits, and, Utilization Rates

For a personalized online Credit Card offer, you will need the following materials:

• ✅ Most recent income verification.
• ✅ The minimum age to register for a credit card is 18.
• ✅ Most recent bank statement reflecting three months of salary deposits.

The ratio of the amount of revolving credit you are utilizing to the total amount of revolving credit you have available is your credit utilization rate, also known as your credit utilization ratio. In other words, it is the total amount of current debt divided by the credit limit.

African Bank Gold Credit Card Customer Review

🥇 Affordable.

I receive everything I desire from a credit card with extremely affordable fees. – Sipho

African Bank Gold Credit Card Pros and Cons

Capitec Global One Credit Card

The Capitec Bank Global One credit card is a hybrid credit card that gives rewards for traveling as well as benefits for leisure activities. The credit card comes with a monthly fee of R40.00, and the interest rate is changeable, but it starts at 7.25%. The credit card has a maximum credit limit of R500,000.00, but the actual credit limit is based on the cardholder’s income as well as how much they can afford to spend.

To qualify for the Capitec Bank Global One credit card, you need to have a stable income of at least R5,000.00 per month and a job that pays you regularly. For those who are self-employed and want to apply for a credit card, the minimum monthly income requirement is R10,000.00. In order to be qualified for the account, you need to have a satisfactory credit score.

Capitec Global One Credit Card Fees and Interest Rates

• ✅ Initiation fee: R100
• ✅ Monthly fee: R40

Depending on your credit history, the interest rate begins at 7.25 percent

Capitec Global One Credit Card Conditions, Application, Limits, and, Utilization Rates

To apply for the Capitec Bank Global One Credit Card, the following are required:

• ✅ Original identification document (must be 18 or older)
• ✅ The minimum salary requirement for a credit card application is R5,000, or R10,000 for self-employed applicants.

Your credit utilization rate, also known as your credit utilization ratio, is the ratio between the amount of revolving credit you’re using and the total amount of revolving credit you have available. It is the sum of all your outstanding debts divided by your credit limit.

Capitec Global One Credit Card Customer Review

🥇 Excellent.

Excellent customer service was provided when I applied for this card. – Renata

Capitec Global One Credit Card Pros and Cons

Absa Transact Credit Card

Another first-time, entry-level credit card option for customers who want to develop their credit is the Transact Credit Card. Customers must have a monthly income of at least 2,000 ZAR in order to be eligible. Customers who use this credit card can anticipate an annual percentage rate (APR) of 20.50%, a maximum APR of 0.20%, and 57 days during which they won’t be charged any interest.

The proliferation of online banking has resulted in a number of challenges for traditional financial institutions, which have been addressed by Absa with the introduction of their transactional accounts.

The provision of access to a little bank account is included in the product with the goal of luring new users. On the other side, account fees have been reduced, but this has come at the expense of other high-level banking goods.

Absa Transact Credit Card Fees and Interest Rates

• ✅ Monthly card fee: R12

Customers who use this credit card will be subject to an annual percentage rate (APR) of 20.50%, with a maximum credit interest rate of 0.20%, and they will have access to 57 interest-free days.

Absa Transact Credit Card Conditions, Application, Limits, and, Utilization Rates

In order to submit an application for an ABSA Transact Credit Card, you are required to satisfy the following criteria:

• ✅ The minimum amount of monthly revenue necessary is R2000.
• ✅ You must be at least 18 years old.
• ✅ Proof of domicile, the most recent proof of income for the preceding three months, and a valid South African ID book or smart card are all required, and the application must pass an affordability assessment.

To apply, take the following steps:

• ✅ Click on the Apply Now button on the website
• ✅ On the Online Account Application page, enter the characters as displayed in the image
• ✅ Please complete the six-step assessment
• ✅ You may Save and continue later, or Continue at each stage of your assessment
• ✅ Click Apply when you have completed your assessment

The amount of revolving credit you’re utilizing divided by the entire amount of revolving credit you have available is your credit utilization rate, also known as your credit utilization ratio. It is calculated by dividing your total existing debt by your credit limit.

Absa Transact Credit Card Customer Review

🥇 Easy Application.

It was convenient for me that Absa allows me to apply for a credit card despite the fact that I do not yet have the highest salary.

Absa Transact Credit Card Pros and Cons

Absa Gold Credit Card

The ABSA Gold Credit Card is a basic credit card that provides typical credit card privileges in addition to an amazing value, a low monthly cost, and other attractive features.

Credit card owners can use their cards virtually anywhere in the world without any additional fees. Additionally, the card features cutting-edge technology that makes it easy to conduct transactions both in-store and online. There are also other lifestyle benefits available, such as discounts, cashback incentives, travel bonuses, and other perks.

There is a credit limit that is competitive with other businesses in the industry, and customers have the option of using their credit for a wide variety of purchases according to their own tastes.

Absa Gold Credit Card Fees and Interest Rates

• ✅ Monthly account fee: R55

On purchases that meet certain criteria, you could be eligible for an interest-free extension of up to 57 days. Your credit history will be used to establish the interest rate that you will be charged.

Absa Gold Credit Card Conditions, Application, Limits, and, Utilization Rates

The following criteria must be met in order to submit an application for the ABSA Gold Credit Card

• ✅ The minimum age requirement is 18, and the required monthly income is R4,000.
• ✅ The required documentation includes: Proof of domicile, the most recent proof of income for the preceding three months, and a valid South African ID book or smart card are all required, and the application must pass an affordability assessment.

Your credit utilization rate, also known as your credit utilization ratio, is calculated by taking the amount of revolving credit you are now using and dividing it by the total amount of revolving credit you have available. To determine it, divide the entire amount of debt you currently have by the credit limit you have available.

It is almost always presented in the form of a percentage.

Absa Gold Credit Card Customer Review

🥇 Great Rewards.

Even though this is my first credit card and I don’t have much of a credit history, I still get great rewards from using this credit card. – Jack

Absa Gold Credit Card Pros and Cons

Factors to consider when choosing credit cards for students

For a student to get the most out of their credit card they should consider the following factors:

• Spending habits. An outgoing student who spends a lot of money on dining out or entertainment may find a match in a student card that generously rewards such expenditures. A daring student may want to get a credit card that gives high cash-back returns on petrol or flights. Cash back on groceries could be very beneficial for the practical student.
• Your study plans. Many credit cards charge fees for purchases made outside of South Africa due to the additional processing costs. Fortunately, certain credit cards do not impose foreign transaction fees. This option is perfect for students who wish to study abroad but don’t want to carry cash with them.

Student life is hectic, and you may not always have the time to devote to developing a credit card strategy. When selecting a card, consider how much effort you’re willing to devote to managing your credit card outside of the mandatory monthly payments.

Pitfalls to avoid when using a credit card for students

Here are some things to avoid doing if you have a student credit card:

• ✅ Getting too many credit cards. If you’re just getting started with credit card ownership, your best chance is to choose a card that meets your needs and remain with it for a few of years.
• ✅ Not keeping track of your spending. Because credit cards are accepted almost everywhere these days, keeping track of your spending on a credit card can become tedious.
• ✅ Forgetting to pay. University is a hectic period; you have classes, work, and spend time with your friends.

The greatest thing to do with your card is to spend sensibly – only charge what you can pay off within a month.

Why get a credit card for students

You can build a credit history. If used carefully, a student credit card can help you develop your credit history. A good credit score makes you a more appealing applicant for a lease and can even affect your access to cell phone services.

Credit card companies provide a number of student credit card choices. They allow you to earn cash-back rewards while creating a credit history that will benefit you after graduation.

In Conclusion

Now it is your turn to participate:

WhichCredit Card for Studentsfrom this list do you intend to test out?

What was the determining factor in your decision to engage with a certain broker?

Was it because of theFees, Interest Rates, or, the Pros and Cons?

Regardless, please share your thoughts in the comments below.

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Frequently Asked Questions

How do student credit cards work?

Student credit cards, which have lower credit limits and incentives tailored to university students, can act as a springboard to more valuable credit offers in the future.

How many student credit cards should one have?

It is best to start with one student credit card and use it carefully to build up your credit history.

What are the benefits of a student credit card?

The advantages of a student credit card can range from cash back and other rewards tailored to students, to financial education and resources that are accessible online, via app, or over the phone, to help you build good payment habits.

Should I use a credit card as a student?

When used properly, a student credit card can provide numerous benefits, including purchase protection, loyalty points or incentives, and a head start on creating a credit history for use after graduation.

Do student credit cards build credit?

Even if they don’t meet the requirements for a traditional credit card, many students can get approved for a student credit card. These credit cards are great for college students since they help them establish credit, but they typically have a lower credit limit and a higher interest rate.

What happens to your student credit card?

You may find that your card issuer no longer treats your account as a student account once you graduate. However, the use of your card will not be interrupted. If you graduate and no longer need a student card, your issuer may transfer your account to a standard credit card.