Absa Student Credit Card full review: should you get it? (2024)

FAQs

How long does Absa take to approve a credit card? ›

Credit card applications take up to 7 days to finalise.

Getting a student credit card while in college can be highly beneficial for students with a job, or some level of income. It can help students learn how to manage credit responsibly, and get a head start on building credit. At the same time, it's important to know how to use a student credit card responsibly.

Your credit score is the biggest single factor in whether you'll be approved. If your credit score is high, you should qualify for a relatively low-interest rate and better perks. If your credit score is low, you'll qualify only for a higher-interest card.

You can check your credit card application status either online or over the phone, depending on the credit card company. Many credit card applicants receive a decision within minutes, but it can take longer if the issuer needs more information or if it's a close call between approval and rejection.

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Most student credit cards will have a limit of less than $1,000, with some issuers providing an initial limit of just $500.

The main reason to get a credit card in college is to begin building credit, and student credit cards help by reporting your account activity to the three credit bureaus — Experian, Equifax and TransUnion.

Does a student credit card affect your credit history? ›

Potential debt trap: If debt piles up on your card, a student credit card could end up doing more harm than good, especially if you have a limited income. Not being able to make the minimum monthly payments could hurt your score, and late payments can stick around on your credit report for up to seven years.

However, it's generally a good idea to have two or three active credit card accounts, in addition to other types of credit such as student loans, an auto loan or a mortgage. Just remember: The number of credit cards you own is less important than how you use them.

But keep in mind that a credit card issuer must make a decision on your application within 30 days. If you're approved, the card could still take 10 full business days to arrive after approval. And if you're waiting on a secured card, it may not ship until you've funded your security deposit.

Getting approved for a credit card can be a fairly quick process — sometimes taking just seconds. Other times, it can be much slower, with issuers making you wait up to 30 days. Once approved, you'll typically receive your card within a week, though some issuers will get it to you earlier or later than that.

How long does a credit card refund take? A credit card refund can take between five and 14 business days to appear on your card statement or balance. This is because the transaction goes through a credit card processing service and must be completed before your issuer can credit your account for the purchase.

The Discover it^® Secured Credit Card is our top pick for easiest credit card to get because it's geared toward those with limited/poor credit. It offers great rewards and charges a $0 annual fee. Plus, Discover will conduct monthly account reviews after seven months to see if you qualify to get your deposit refunded.