Reviews (SA)

5 best credit cards for low income

Check out the best credit cards for low income in South Africa in 2023, and choose one that will help you build solid financial health.

Credit cards for low income: flexible eligibility requirements

You can get these credit cards even if you have a low income. Source: Canva.
You can get these credit cards even if you have a low income. Source: Canva.

Today, we have selected the best credit cards for low income in South Africa. The cards come with some perks and flexible eligibility requirements.

It is important to mention that although the monthly income required can be low, most cards request it in the application.

Also, the credit cards listed below don’t expect you to have a good credit score. Therefore, we have selected credit cards that accept low credit scores, as well.

Continue reading to find out the best credit cards for people that earn a low income.

How to choose the best credit card for low income?

No matter if you earn a low or a high income or if you have a poor or an excellent credit score, it is always essential to learn how to choose the best credit card according to your needs and goals.

Nowadays, many traditional and digital banks offer a variety of financial products to fit all budgets. 

Although the best cards with plenty of rewards are designed for those with a high income and a perfect credit score, you might find good options if your financial situation doesn’t fit an elevated status.

It is crucial to follow some steps in order to choose your next card. Firstly, it is important to make sure you know all about your finances. Therefore, you must keep track of your spending and earnings. 

Also, if you have no control over your finances, it is recommended that you decide to go on with a debit card instead of a credit one.

In addition, it is important to do vast research to find good cards offered on the market. Fortunately, we have done it for you.

Thus, all you need to do is take a look at the list below!

What are the best credit cards for low income?

We've made a list of some great credit cards available in South Africa for you. Source: Canva.
We’ve made a list of some great credit cards available in South Africa for you. Source: Canva.

In summary, we have selected the best considering benefits offered, costs associated, and eligibility requirements.

All cards don’t require a high income or a perfect credit score. Although most charge fees, they are reasonable considering the conditions. 

Also, terms, rates, and other factors may apply or change depending on your creditworthiness. 

Always do your own research to find out the best card for your needs and goals!

1. Absa Gold Credit Card

Absa offers many financial products and services, including accounts, cards, lending solutions, and investments.

One of the cards we have selected is the Gold Card. 

This credit card is a fantastic option for those who need to build a credit history.

Also, it offers cash back on purchases, digital banking access, basic insurance coverage, free lost card protection, and a package of Visa benefits.

Furthermore, this Absa Gold is an amazing choice for travelers since it doesn’t charge transaction fees on purchases and features Bidvest Airport Lounge access at reasonable and preferential rates.

The credit limit is up to R90 000. In addition, this card only requires a minimum monthly income of R4 000.

Absa Gold Credit Card

Absa Gold Credit Card review: High rewards!

Are you in need of a good rewards card with travel perks? If so, read our Absa Gold Credit Card review to see the pros and cons of this card!

2. Absa Flexi Core Credit Card

On the other hand, let’s suppose your monthly income is lower than R4 000. Then, an Absa Flexi Core Credit Card might be worth considering.

This card only requires a minimum monthly income of R2000.

And it offers a whole range of benefits, including complete digital banking access, basic travel insurance, free lost card protection, exclusive Visa benefits, and more.

Moreover, this card can be a great ally when it comes to building credit responsibly.

The card comes with rewards such as cash back on purchases and a credit limit of up to R90 000.

Also, it offers up to 57 days of interest-free on qualifying transactions.

The card only charges an R14 monthly fee and doesn’t charge transaction fees on purchases.

Pre-approved credit cards for low credit score available now

We analyzed your profile and found some offers that you can apply for today.

You will be redirected to another website

3. African Bank Gold Credit Card

Get a credit card to make your purchases and control your finances. Source: Canva.
Get a credit card to make your purchases and control your finances. Source: Canva.

African Bank Gold Credit Card requires a minimum monthly income of R5000. The card charges an R69 monthly fee. And it comes with a lot of perks. 

In summary, it offers 60 days of interest-free. Also, it features a 3% interest back per year on positive balances.

It also guarantees free online and mobile services, including Global Emergency Assistance, Travel Assistance, and more.

Plus, the bank gathers all financial products and services in one place. Therefore, you can feel peace of mind knowing you will always be attended to while enjoying convenience and flexibility.  

4. Capitec Global One Credit Card

Capitec Global One Credit Card also requires a minimum monthly income of R5000.

The card helps you build a credit history. And it offers a credit limit of up to R500 000. 

Also, it features cash back and free travel insurance of up to R5 million.

Furthermore, it provides up to 55 days of interest-free. This credit card charges an initiation fee of R100 and a monthly fee of R45.

After the grace period, interest rates vary from 10.50% to 21.00%, depending on your creditworthiness.

Capitec Bank

Capitec Bank review: Save money!

If you're in the market for a bank with incredible financial products, from credit cards to personal and banking accounts, read our Capitec Bank review!

5. New Nedbank Gold Credit Card

Nedbank has recently released products for low-income earners. The goal is to provide financial inclusion and great services for those who cannot afford higher-tier financial products. 

This card requires a minimum monthly income of R5000. Also, the interest rate is personalized. And the card charges an R40 monthly fee.

Moreover, the card offers many rewards and discounts.

Recommendation: Credit Essentials – everything you need to know

Whether you earn a low or high income or have a perfect or bad credit score, it is crucial to learn all about credit.

As you can see, creditworthiness is essential when it comes to getting approval for financial products and services, as well as when it comes to getting better rates and cheaper fees.

Therefore, read our next post to learn everything you need to know about Credit Essentials.

Best loans for fair credit scores

Credit Essentials: everything you need to know

Credit Essentials: everything you need to know! Follow our tips and build a solid financial path!

About the author  /  Aline Augusto

My name is Aline Mesquita; I'm a writer here on the blog, where I write about finance in general and other subjects. I have been working with content creation for ten years. Also, I'm post-graduated in Project Management, with expertise in SEO practices. Currently, I am studying finance, market trends, and cryptocurrencies.

Reviewed by  /  Aline Barbosa

Senior Editor

Trending Topics

content

Isivande Women’s Fund full review

Find out more about women's economic empowerment acceleration through government investments by reading this Isivande Women's Fund review.

Keep Reading
content

Old Age Pension full review!

Are you looking for ways to get money for those in your family over 60? If so, read our Old Age Pension review to learn more!

Keep Reading
content

TymeBank Credit Card review: Earn Smart Shopper Points!

Are you looking for a card with Smart Shopper Points and flexible payment options? If so, read our TymeBank Credit Card review!

Keep Reading

You may also like

content

Citi Simplicity® Card review: a simple way to get rid of fees

The Citi Simplicity® Card review will tell you all you need to know about this credit card, designed to help you pay down your debts. Learn how you can avoid extra fees and save money with it!

Keep Reading
content

How much should you save to move out: is $5000 enough?

If you're wondering how much money you need to save to live independently, this is the guide for you. Figure it out here!

Keep Reading
content

Flagstar Bank Mortgage review: how does it work and is it good?

Looking for a mortgage? Check out our review of Flagstar Bank Mortgages - mortgages in all 50 states with fast appliction process.

Keep Reading