Imagine if you had the opportunity to start in the world of credit cards with the best possible cost-benefit option? Well, this option exists, and it may be that from today onwards it will help you immensely.
TymeBank Credit Card is one of the fastest growing credit cards in South Africa, meaning the number of people who identify with this credit card is very high as it allows low and middle income people to get it.
Therefore, this incredible credit card fits as an incredible solution that offers the ease of good credit, 55 days without interest, and you can pay with peace of mind. In addition, it is great for those who are starting in the credit world, as it creates a good credit history, in addition to delivering several rewards on purchases with it.
Are you ready to get your own credit card with countless exclusive perks? We will explain exactly how the TymeBank Credit Card works, its advantages, disadvantages and why it might be useful for you. Read on for how to apply and other important information as well.
TymeBank Credit Card
Get up to 55 days interest free Earn Smart Shopper points every time you swipeHow does the Tymebank Credit Card Work
If you’re here looking for a credit card full of benefits, gigantic perks, countless rewards, lots of cashbacks and miles, I’m sorry, but TymeBank Credit Card is not that card.
Now, if you need a credit card to balance what your family needs and what your budget needs, build a good credit score, and enjoy the good limit, the experience it provides, and its rewards, then continue on with this article. The TymeBank Credit Card is a basic card that includes a number of benefits in addition to small fees – such as the monthly fee of R40.00.
It is one of the most basic cards that can meet your needs, whether to earn rewards while you spend, to ease your household bills or to build a good credit score. You can use your TymeBank credit card to withdraw cash from any ATM and shop anywhere, including online.
Main Advantages of using the Tymebank Credit Card
The TymeBank Credit Card is the best option for those who are starting in the world of credit cards, have low monthly income and need greater purchasing potential with low interest rates. Check out some important advantages that you can enjoy with it in hand:
- Get up to 55 days interest free
- Earn 4x Smart Shopper points in Pick n Pay
- SmartShopper Points everywhere you shop
- Delivery of your first personalized TymeBank Credit Card
- Flexible payment options available to suit your needs
- Pay large expenses with the ease of budgeting on a credit card by installments multiple times
With your Tymebank Credit Card in hand, you can enjoy all this and more. The advantages of having this card are practical and especially for those who think about having more credit power and earning rewards, keeping expenses low.
Cons for the Tymebank Credit Card
As explained earlier, TymeBank Credit Card is a simple and basic credit card, which means it has a lot of disadvantages when we think about benefits, rewards, cashbacks and other special bonuses.
This credit card is not linked to any loyalty program, that is, you do not accumulate points or miles. You also can’t get the above mentioned benefits like rewards, cashbacks, discounts and everything else.
One of the other negative points of this credit card is the absence of a Private Bank, without the help of a banker or a team of professionals to assist in any financial question, often remaining unanswered.
If none of these weigh in on your decision, go ahead and learn how to apply for a TymeBank Credit Card.
Fees for the Tymebank Credit Card
Tymebank Credit Card is a credit card that aims to make your life easier by providing you with a good credit option, having small fees and delivering you some interesting rewards. Check out some of their fees:
- Initiation Fee (once-off) – R160.00
- Monthly Service Fee – R40.00
- Statement Copy Fee – R5.50 (*where applicable)
- Late Payment Fee – R100.00
- Overseas Purchases – R(2% on Rand Value)
- Customer Protection Insurance (CPI) – *Optional R4.50 (per R1 000 of your outstanding balance)
- ATM Balance Enquiry – R6.00 (per enquiry)
- Overseas ATM Balance Enquiry – R16.00 (per enquiry)
- ATM Cash Withdrawal – R8.00 (for every R1 000 withdrawn)
- Pick n Pay In-Store Cash Withdrawal – R3.00 (for every R1 000 withdrawn)
These are some of the fees you need to pay if you opt for the TymeBank Credit Card.
How to Apply
To be able to apply for your Tymebank credit card, go to the nearest Tymebank branch or apply online through the website. In a few days you will have confirmation or rejection from the bank.
Conclusion
In conclusion, the TymeBank Credit Card is a practical choice for those new to credit cards or with modest income, offering simplicity and low fees. It provides up to 55 days interest-free on purchases, Smart Shopper points at Pick n Pay, and flexible payment options. However, it lacks extensive rewards and benefits typically found in other cards. If you value affordability, building credit history, and basic transactional benefits, the TymeBank Credit Card could be a suitable option for you.
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