Imagine if from today onwards you could have a full credit card that would be accessible to you as a student, who does not work and has no income. It would be amazing, wouldn’t it? Well, that’s entirely possible as the ABSA Student Credit Card grants credit to students – despite the potential risk.
One of the advantages of this card is that, in order to obtain it, the student does not even need to work – he just needs to receive a monthly stipend, the same goes for older university students.
In addition, we all know that student life is difficult and many do not have the financial means for many situations, and it is very important to have the opportunity of a zero-fee credit card.
Are you ready to get your own credit card with countless exclusive perks? We will explain exactly how the ABSA Student Credit Card works, its advantages, disadvantages and why it might be useful for you. Read on to learn how to apply and other important information as well.
ABSA Student Credit Card
Up to 57 days interest-free Join the Absa Rewards Program and earn cash back on your card purchasesHow does the ABSA Student Credit Card work
As we all know, education is important to build a harmonious and high-quality future, both for the student’s personal life and for society – but money is not always present in the family’s pocket.
Also, providing the opportunity for students to have a credit limit with long payment periods is an excellent idea that Absa Bank had. One of the main points is that starting with a student credit card, the young person can build a credit profile, counting on 57 days of interest-free fees until payment – and best of all, no transaction fees.
With the ABSA Student Credit Card you can create good credit habits while earning rewards on your card purchases, with zero fees. Therefore, we recommend that you know all the advantages and disadvantages of having this credit card in your wallet.
Pros and Cons of using the ABSA Student Credit Card
The ABSA Student Credit Card is here to help you achieve greater purchasing power, make your life easier and build a great credit history, with a healthy financial life. Know some advantages of this credit card:
- Up to 57 days interest-free
- Get Absa Rewards cash back when you pay with your card
- Great way to establish a credit history while improving your future
- Complete simple challenges in the Absa Banking App and get rewarded instantly by a smarter bank
- Get the free notifyMe service that updates customers via SMS whenever they transact
- 3 free visits per year at Bidvest Airport Lounge
- Automatic basic coverage of R1 million for various travel emergencies
Just as there are several advantages to having a home credit card like this, there are also numerous disadvantages that need to be shown here for you to make the right choice.
The ABSA Student Credit Card is designed for students who only have an allowance of R800.00, that is, young people who have no income, so this credit card does not offer access to garage cards and also does not have a life that can pay the outstanding credit in case something happens to you.
If this is not a problem for your decision and choice, you can continue to learn more about this credit card.
Fees for the ABSA Student Credit Card
As it is a student card, Absa Bank needs to make some one-off charges for some more complex services, although most fees are free. Check out the main fees for the ABSA Student Credit Card:
- Monthly account fee Free
- Monthly credit facility fee Free
- Cheque deposit at an Absa branch R60.00
- Cash deposit at an Absa ATM R2.00 per R100.00
- Cash deposit at an Absa branch R60.00 + R2.00 per R100.00
- Overseas cash withdrawals ATM/POS R75.00
- Account payments at an Absa branch R75.00
These are some essential fees on your ABSA Student Credit Card to look carefully at.
How to Apply
As you can see, the ABSA Student Credit Card is a powerful card and suitable for anyone who wants to start in the credit world and aims to build a good score and for those who want to improve their lifestyle.
In order to get this credit card, you need to fulfill all the requirements and register on the Absa Bank website, fill in the forms and wait for the bank’s return, which should be done in a few days.
Conclusion
In conclusion, the ABSA Student Credit Card presents a valuable opportunity for students to manage their finances responsibly while building a credit history. With features like an interest-free period, cashback rewards, and no monthly account fees, it offers practical benefits tailored to student life. However, potential applicants should be mindful of fees associated with certain transactions and consider whether they meet the stipulated monthly stipend requirement. Overall, if you’re a student looking to enhance your financial management skills and establish a credit profile, the ABSA Student Credit Card could be a beneficial option to explore.
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