Absa Credit Card Interest Rates, Charges, Types & Eligibility

absa credit card interest rates

Absa Bank offers numerous credit cards designed to suit the requirements of their cardholders. Absa credit cards are categorized into lifestyle, reward, shopping, travel, and British Airways card. Each card is designed for a particular group of cardholders based on their spending habits.

If the payments are made on time, interest will not be applicable. However, if partial payments are made, a certain interest rate is charged on the closing amount every month until the amount is paid in full.

What is the Absa Credit Card Interest Rate?

Generally, the interest rate charged by Absa can go up to 6.90% per month. However, the interest rate differs from card to card and it is best to read your credit card statements or get in touch with the Absa Bank branch for more information.

How is Absa Credit Card Interest Rate Calculated?

Absa Bank offers a grace period or interest-free period on credit card payments. Usually, the grace period or the interest-free period offered by Absa can range from 57 days depending on the type of credit card you hold.

[(Total number of days x transaction amount x 3.35% per month x 12 months) x number of days] ÷ 365 days

Here are some of the interests & Fee on the Absa credit card-

Absa Credit Card NameMonthly feeMinimum monthly
income Required
Gold Credit CardR55R4 000
Premium Banking Credit CardR92R25 000
Private Banking Visa Signature Credit CardR185R62 500
Flexi Core Credit CardR44R2 000
Student Credit CardN/AR800
Gold PackageR135R4 000
Premium PackageR229R25 000
British Airways Credit CardR95R8 000

Absa Credit Card Interest-Free Period

Absa Card offers an interest-free period of 57 days to its users. This period is calculated between the last statement generation date to the current due date. During this period, no interest is charged on any of the purchases. Please note that the two most important things related to Absa bank credit card interest-free period:

  • The interest-free period is not applicable if you have carried forward your outstanding balance from the previous cycle to the current cycle.
  • The interest-free period does not apply to cash withdrawals.

Frequently Asked Questions

How is Absa Credit Card Interest Rate Calculated?

The credit card interest rate is calculated by considering multiple things, such as transaction date, total amount due, transaction amount, amount due date, and much more.

What should I do if I lose my credit card?

If you lose your Absa credit card then call the Absa card customer care center to block it. The toll-free numbers are 0800 111 155.

Editorial Note: The information presented in this article is not provided by the Absa Bank. The article has been created for educational purposes and is intended to be helpful for customers of the Bank. It should be emphasized that the content is not endorsed or validated by the Bank, and readers should refer to the official website for accurate and up-to-date information about the bank’s products and services.

Author

Hello friends, my name is RK Singh, and I am an engineer. But by profession, I am a blogger. My main goal in starting this blog is to solve the difficulties people face in using online banking, bank branch codes, debit cards, and credit cards. I am not affiliated with any bank or company. I try my best to give the correct information to the people so that they can achieve their goals in the right way.

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