The African Bank Black Credit Card is designed for those looking for flexibility and higher credit limits. It features a significant credit limit, mobile banking convenience, and the possibility of earning interest on positive balances. On the other hand, the Absa Gold Credit Card provides customers with travel insurance, rewards programs, and exclusive perks such as access to Bidvest Premier lounges and cashback offers.
Both cards cater to different needs, with African Bank focusing more on credit limits and online accessibility, while Absa Gold emphasizes travel rewards and value-added benefits.
Fees and Benefits Comparison Table
| Feature | African Bank Black Credit Card | Absa Gold Credit Card |
|---|---|---|
| Monthly Service Fee | R65.00 | R57.00 |
| Initiation Fee | R140.00 | N/A |
| Credit Facility Fee | N/A | R30.00 |
| Interest-Free Days | Up to 62 days | Up to 55 days |
| Credit Limit | Up to R350,000 | Based on affordability |
| Earn Interest on Positive Balance | Up to 3% on positive balance | No interest on positive balances |
| Rewards | N/A | Cashback via Absa Rewards and Absa Advantage programs |
| Travel Insurance | N/A | R1.5 million basic travel insurance |
| Airport Lounge Access | N/A | Preferential rates at Bidvest Premier lounges |
| Card Replacement Fee | R130.00 | R47.00 |
| Cash Withdrawals (ATMs) | R10.00 for R100 or 2% of transaction | R2.50 per R100 |
| POS Purchases (SA) | Free | Free |
| Cardless Cash Withdrawals | N/A | Available |
| Foreign Transaction Fees | N/A | Subject to standard charges |
Benefits of Each Credit Card
African Bank Black Credit Card
- High Credit Limit: The African Bank Black Credit Card allows for a credit limit of up to R350,000, making it ideal for individuals who require more spending power.
- Earn Interest on Positive Balances: Unlike most credit cards, you can earn up to 3% interest on positive balances in your African Bank account.
- Interest-Free Period: You can enjoy up to 62 days of interest-free purchases, provided you settle your outstanding balance by the due date.
- Instant Issue: Once approved, you can instantly receive a personalized embossed card by visiting any African Bank branch.
- Mobile and Online Banking: Access your account on the go with African Bank’s online and mobile banking services, enabling easy payments, transfers, and purchases.
Absa Gold Credit Card
- Travel Insurance: Absa provides R1.5 million in basic travel insurance for international travel, offering peace of mind during your trips.
- Absa Rewards and Absa Advantage: Cardholders can earn cashback on purchases and complete challenges through the Absa Banking App to get additional rewards like free meals.
- Airport Lounge Access: You can enjoy access to Bidvest Premier lounges at preferential rates, which is a great benefit for frequent travelers.
- Visa Benefits: The Absa Gold Credit Card provides access to exclusive Visa offers, including local and global deals, and buyer protection.
- Contactless Payments: For transactions below R500, no PIN is required, simplifying the payment process.
Requirements of Each Credit Card
African Bank Black Credit Card Requirements
- Minimum age: 18 years.
- Proof of income and affordability checks.
- A good credit history.
- Must meet affordability guidelines for the desired credit limit.
Absa Gold Credit Card Requirements
- Minimum recommended income: R7,000 per month.
- South African resident with a valid ID.
- Proof of income and an acceptable credit score.
- Age requirement: 18 years or older.
Pros and Cons of Each Credit Card
African Bank Black Credit Card
Pros:
- High credit limit of up to R350,000.
- Earn interest on positive balances.
- Long interest-free period of up to 62 days.
- Instant issuance of the card upon approval.
- No charges for in-store POS purchases.
Cons:
- No rewards or cashback program.
- Limited value-added services like travel insurance.
- ATM cash withdrawals can be costly.
Absa Gold Credit Card
Pros:
- Comprehensive rewards program offering cashback.
- Basic travel insurance of R1.5 million included.
- Preferential rates for airport lounge access.
- Contactless payment feature for transactions up to R500.
- Visa global and local merchant offers.
Cons:
- Lower credit limit, based on affordability.
- Shorter interest-free period of 55 days.
- Card replacement fees are higher than African Bank.
Who Each Credit Card is Suitable For
African Bank Black Credit Card
The African Bank Black Credit Card is an excellent option for individuals looking for a high credit limit, flexibility, and ease of use. Its key advantages include the ability to earn interest on positive balances and a long interest-free period. This card suits those who frequently carry positive balances or need significant spending power, making it ideal for higher-income earners and business owners.
Absa Gold Credit Card
The Absa Gold Credit Card is better suited for frequent travelers and individuals looking for a rewards program. Its benefits include travel insurance, cashback rewards, and access to Bidvest Premier airport lounges. It’s ideal for someone who travels often, shops both locally and internationally, and wants extra perks like cashback and free meals for completing simple challenges.
Other Relevant Comparison Indicators
- Customer Support: Both banks offer solid customer service with mobile apps for easy management. Absa’s Visa benefits and global support make it more attractive for international travelers.
- Digital Banking Experience: African Bank’s mobile banking services are highly rated, allowing easy management of your account. However, Absa’s rewards programs and travel-related benefits give it an edge for those seeking added value through digital channels.
Conclusion
The African Bank Black Credit Card and Absa Gold Credit Card both offer distinct features suited for different consumer needs. African Bank offers a higher credit limit and the ability to earn interest on positive balances, making it suitable for those seeking spending power and savings benefits. In contrast, the Absa Gold Credit Card is perfect for frequent travelers and those interested in rewards and cashback programs, along with travel insurance.
Your choice between these two cards will depend on whether you value higher credit limits or travel rewards. Both cards provide good value in their respective areas, but understanding your financial habits and lifestyle needs will guide you toward the better option.