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Best Student Credit Cards in South Africa 2021-2022



Best Student Credit Cards for 2021-2022

As a student attending university, you know how quickly money can run out. The best student credit cards are the solution. They allow you to access funds when you need them most.

By acting responsibly and meeting your monthly payments, you can build up a good credit record. What if you require investing in something like a car or even a home in the future?





If your payments fall behind, your interest rates will increase, and you could end up getting into trouble financially.

What the Banks require for the Best Student Credit Cards

You might wonder where you can get a good student credit card. And what are the best student credit cards with a competitive interest rate?

Compare the different credit cards offered by the top banks in South Africa. Two recommended banks, for instance, would be ABSA and Nedbank.

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Advice to make your choice easier;

Student credit cards are useful because they allow you to access funds if you ever need them and you can also start to build a good credit rating.

You will need to compare student credit cards to ensure that you are getting the best student accounts and the best student credit cards that are suited to your needs.

You can compare student credit cards from the two banks that offer them, those being ABSA and Nedbank. If you are looking for other types of credit cards you can find them here.

When comparing credit cards, the most important factors to consider in our opinion are the interest rates being charged and the minimum monthly repayments you will be expected to pay. with ABSA showing the more impressive numbers for both the previously mentioned fields as well as boasting a lower monthly fee, we feel that the ABSA student card is the clear winner here.

ABSA Student Credit Cards

The ABSA student credit card has no monthly fee that you need to pay. To qualify for the student credit card from ABSA you should be a registered full time student with a valid South African ID with a monthly income needs to be at least R200.
The ABSA student credit card allows you to swipe for purchases for free. To draw money off your credit card the fee is R3.95 plus 1.15% of the withdrawn amount from an ABSA ATM and R9.95 and the 1.15% from a different banks ATM.
The ABSA credit card limit is R200 with an interest rate of 18%. The monthly minimum repayment is 3% of the outstanding balance. An interest rate of 0.2% is paid to you when you have a positive balance.

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Benefits and exclusive features of ABSA Student Credit Card

  • Helps build a credit history
  • R1,5 million automatic basic cover* for a range of travel emergencies
  • Interest-free credit: Get up to 57 days interest-free on purchases.
  • No transaction fees on purchases
  • Lost card protection: You are covered if your card is lost or stolen
  • Everyday shopping worldwide and online: Swipe at any point-of-sale machine worldwide, shop securely online
  • Rewards: Get cash back when you pay with your card locally and internationally
  • Travel insurance: Automatic basic cover* for a range of travel emergencies
  • Contactless: Your card has contactless (tap-and-pay) technology
  • NotifyMe: Get SMSs of any account activity for added security
  • Fixed monthly payments: Ensure you pay more of your capital debt monthly and allow for easy budgeting

Qualifying criteria for ABSA Student Credit Card

 

  • You must be aged between 18 and 30 years
  • You must be a registered full-time student at an FET college, SAQA-approved institution, university, university of technology or private institution
  • Minimum monthly income or allowance of R800

Documents needed

 

  • Valid South African ID book or Smart card
  • Proof of residence
  • Latest proof of income for three consecutive months

ABSA Student Account

The ABSA student silver account comes in with a slightly higher monthly fee of R26.00 p/m. The banking bundle offered, however, is slightly different from some of the other options out there for youth.

What’s included in the monthly fee? 

R26 p/m

  • Unlimited Absa Online, mobile & telephonic banking
  • Unlimited NotifyMe SMS and email notifications
  • Mailed or eStatements
  • Unlimited card swipes, cash withdrawals, balance enquiries, mini-statements, cash deposits, internal electronic fund transfers, and cash send withdrawals at Absa atms
  • Discounts on flights with Rewards Lite

The ABSA student account also comes with some added extras every month if you complete at least five debit or credit banking transactions per month:

  • A food voucher which can be redeemed at McDonald’s, Debonairs, Steers (online) or Nando’s
  • A R150 travel voucher
  • 30% discount on membership at selected gyms
  • 100mb of data every month.
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You can access your benefits online from the student benefits page or by dialling *120*3475# from your cell phone.

Qualifying criteria

  • Must be 18-27 years of age
  • Must be a full time student studying towards an undergraduate, postgraduate, or a qualification with the duration of at least 1 year
  • Valid South African ID or passport
  • Proof of residence that is not older than 3 months (usually information from applying and registering at a tertiary institution can be used to fit this requirement)

Nedbank Student Credit Cards

Nedbank Dezign Student Credit Card requires you to be between 18 and 24 years, a South African citizen and a registered South African university student.
The monthly fee for a Nedbank credit card is R7.50. When you swipe for purchases you will not be charged for this. You can withdraw money from your credit card for R3.50 plus 1.25% of the value of the withdrawal from a Nedbank ATM and R9.50 plus the 1.25% from a non Nedbank ATM.

The Nedbank Dezign Student Credit Card limit is R500 with an interest rate of 21%. The minimum repayment on the outstanding balance is 5%. A student credit card is a great facility for a student because their might be times when you will need emergency money or you have ran out of money and there is something that you want to do. As long as you bear in mind the repayments that you will make you will find a student credit card useful to have.

Unlocked.me

Nedbank’s student account offering, Unlocked.me, flaunts ZERO monthly fees, and caters for youths – specifically individuals between the ages of 16 and 26.

What’s included in the monthly fee? 

Price: R0

  • Free card swipes, cash deposits (up to R3000), and Nedbank to Nedbank debit orders & stop orders
  • One free included external debit order
  • ZERO data usage using the Nedbank Money app
  • Free balance enquiries & inter-account transfers on the Money app and all other self service platforms
  • Online functionality: make online purchases with your card
  • MyPocket: A free budgeting & savings pocket that can be linked to your main account

You also have access to added rewards each month (if you make five qualifying transactions ) with the unlocked.me platform:

  • 100mb data (must have post paid contract that allows for top ups)
  • R30 voucher redeemable at Burger King, Nandos, or Debonairs
  • R20 Bolt voucher available to customers 18 years and older
  •  2-for-1 Nu Metro Popcorn & 2-for-1 Nu Metro Movie Ticket
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Qualifying Criteria

  • Must be 16-26 years of age
  • Non residents apply at an additional fee
  • South African identity document, smart identity card or passport with a valid study permit
  • Must be a full time student studying towards an undergraduate, postgraduate, or a qualification with the duration of at least 1 year
  • Valid South African ID or passport
  • Proof of residence that is not older than 3 months (usually information from applying and registering at a tertiary institution can be used to fit this requirement)

 

You need to compare student credit cards so that you are able to get the best student credit cards with the benefits that you need as a student. You will need to know what you have to pay each month and the total interest that you are looking at on your student credit card. You are able to compare student credit cards and all their relevant charges at places like Student credit cards. You can apply for the best student accounts straight from this site making it an easy process to choose your student credit card and to apply for one.
You will just need to ensure that you have all the relevant documentation at hand.

Top Student Credit Cards in South Africa Compared

1. ABSA Student Credit Card

You can find more information by going to their website.

  • No monthly service fee
  • Age requirement is between 18 and 30 years
  • Minimum monthly income or allowance of R800

2. Nedbank Dezign Student Credit Card

You will have to go into the branch to find out more information as I could not find anything on their website. I got this information by emailing the contact center

  • Age requirement is between 18 and 24 years
  • The monthly fee is R7.50

3. Standard Bank Student Credit Card

You will have to go into the branch for more information regarding this card. I contacted them by calling them to find out more about the card as there is is no information on their website. I was told that it is the same as the gold credit card. The only difference is that the credit limit is set to R1000.

3 thoughts on “Best Student Credit Cards in South Africa 2021-2022”

  1. I want to apply for the 2021 or 2022 if I’m already late for this year but the issue we not getting any response here so can you please sent us something when you saw our comments.

    Reply
    • Hy I’m Javangwe Melusi from Zimbabwe but studying in South Africa what documents needed

      Reply

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