Imagine if with every purchase you made anywhere your money doubled? Sounds like a dream, doesn’t it? The truth is that this doesn’t exist in 99% of the cards – many of them give you benefits, cashbacks, but nothing else. The good news is that 1% of that account is left – the Sanlam Money Saver Credit Card.
With this credit card in your hands, you can save and double your money with every purchase you make, in any online or physical store – it doesn’t matter. With Sanlam Money Saver you are rewarded in a variety of ways, even without having to participate in a rewards program – rewards are recorded automatically.
Are you ready to get your own credit card with countless exclusive perks? We will explain exactly how the Sanlam Money Saver Credit Card works, its advantages, rewards, disadvantages and why it might be useful for you. Read on to learn how to apply and other important information as well.
Sanlam Money Saver Credit Card
Get up to 5% cash back in the form of Wealth Bonus every time you swipe Earn R1 cash back per liter of fuel if you fill up in TotalHow does Sanlam Money Saver Credit Card work
The Sanlam Money Saver Credit Card is a unique and fully differentiated credit card, as discussed above. This card revolutionized the entire South African credit scene, becoming very popular for having competitive interest rates and offering Sanlam Money Saver holders high money-saving power.
The purpose of this credit card in your wallet is to allow you to enjoy the ease of making purchases while you earn with it. It’s your chance to keep shopping, without any weight on your conscience because you’re generating more money in the meantime. In addition, the money saved goes towards the Sanlam Wealth Bonus.
To enjoy all the benefits, you need to pay a monthly service fee of R56.00. The Sanlam Money Saver Credit Card is available in two versions: with a savings commitment and without a savings commitment. Each of these options has an impact on the amount of money saved, understand:
Sanlam Money Saver Credit Card with co-savings
This is the best choice for you looking to save as much as possible. Choosing this option automatically saves you 2.50% of the transaction amount. In addition, Sanlam, thinking of helping you even more, will cover with another 2.50% of the transaction value for savings – in total, you will earn 5% savings on each transaction, regardless of where you buy.
You have a choice of retailers that Sanlam partner with, such as: Total, Adidas, Reebok, Dischem, Toys R Us, NuMetro, Babies R Us, Tiger Wheel and Tire, Tires & More, Flight Center, Forever 21 and Incredible Connections. In addition, Total Garage gives R$1.00 in cashback for each liter of fuel purchased.
Sanlam Money Saver Credit Card Without co-savings
This is the option if the credit card holder does not want to save money on every purchase. Even with this choice, Sanlam continues to reward credit card holders with cash every time they use their account. This percentage is lower, reaching 1% of the equity benefit for credit card holders.
It doesn’t stop there, in addition to all this the Sanlam Money Saver Credit Card also continues to provide the benefit of giving BRL 1.00 in Wealth Bonus when using the card at Total, and can also receive 3% of the total transaction cost in Wealth Bonus when shopping at Sanlam’s partner stores.
The Wealth Bonus can be withdrawn every three months or annually, depending on the credit card holder’s preference.
Pros and Cons of Using the Sanlam Money Saver
The Sanlam Money Saver Credit Card is the best option for you to be able to spend money and recover it double, earning special rewards and cashbacks. Check out some advantages of having this credit card in your wallet:
- 55 days of interest-free credit available
- Card monthly fee of only R56
- Initial charge of R165.00 – extremely low for a credit card
- Get up to 2.5% cashback on every purchase with your card
- Cashback of up to 3% can be earned when shopping at partner stores
- Receive R1.00 in Wealth Bonus when using card in Total Garage
Once you have the Sanlam Money Saver Credit Card in your hands, you will be able to enjoy all this and more. The advantages of having this card are practical and especially special for those who want to enjoy special benefits and save a lot, keeping expenses low.
Cons of using the Sanlam Money Saver Credit Card
Sanlam Money Saver Credit Card created to provide many benefits to users, so it comes with few disadvantages with it. There are only two that we can describe here.
The first is that if you chose a credit card with a savings account, your Wealth Bonus money may be subject to interest, which can end up being high.
In addition, the Wealth Bonus will not be available immediately, meaning the rewards can only be used quarterly or annually.
How to Apply
Purchasing the Sanlam Money Saver Credit Card can be easy, but for that you need to follow some recommendations and special documents at hand, such as:
- At the time of application, you must be at least 18 years old
- Work for someone or work for yourself
- Have a three-month proof of residency on hand at the time of application
- Provide proof of income in the form of a recent payslip and a three-month bank statement showing salary deposits
Once you’ve created your account, submitted these requirements and applied, just wait until Sanlam’s confirmation or rejection.
Conclusion
The Sanlam Money Saver Credit Card offers numerous advantages, including cashback, interest-free credit periods, and special rewards, making it an attractive option for those looking to maximize savings while spending. Despite the minor cons, the benefits make it a valuable addition to your wallet.
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