Do you want a credit card with financial benefits that simultaneously allows you to contribute to a bunch of causes? If you do, the Nedbank Classic credit card might be your thing.
They help you contribute to arts and sports development, environment conservation, and things for kids. This card offers you a variety of financial benefits. But it also allows you to become part of one of their affinity programs.
We’ve had a look at what benefits the Nedbank Classic credit card offers, and how to apply for it. Up next we’re going to share our findings so you can figure out whether this card is for you or not.
Nedbank Classic Credit Card: Features
The Nedbank Classic credit card offers the option of balance transfers from other financial institutions to save on interest. The up to 55 days’ interest-free period on purchases is a great feature.
The Nedbank Classic credit card also gives you an extended credit facility for bigger purchases. These purchases can be repaid over 3 to 36 months.
You get travel insurance for both local and international travel when you purchase your travel tickets on your card. Additional cards for your family members can be issued. This card allows you to join one of Nedbank’s affinity programs.
You can join the Green Affinity program if you want to contribute to conserving the environment. You can join Arts or Sport Affinities to assist with development or the Children’s Affinity program for Nelson Mandela Children’s Fund.
Pros and Cons of the Nedbank Classic Credit Card
The Nedbank Classic credit card gives you access to cash at all ATMs in South Africa and abroad. The card is accepted by merchants worldwide.
You can securely scan to pay with your Nedbank Money app. The app is also a secure and convenient way to manage your accounts.
The con is that not everyone can get this card. As a good credit rating is required, this card can be out of reach for people still building their credit scores.
Nedbank Classic Credit Card: Fees and Rates
- Once off initiation fee: R189.65
- Monthly fee: R37
- Additional card fee: R30
- Interest rate: 19.9%
- Interest-free period: 55 days
- Cheque deposit fee: R65
- Cash deposit fee: R75 plus R2 per R100 at a branch and R1 per R100 at a Nedbank ATM
- Cash withdrawals fee: At a Nedbank ATM R2 per R100, and fees vary if you withdraw at other bans,s
- Dishonored payment R90
Nedbank Classic Credit Card: Eligibility
To qualify for the Nedbank Classic credit card you must be at least 18 years of age, have a good credit rating, be a South African resident, and earn at least R60 000 annually.
How to Get the Nedbank Classic Credit Card?
You can apply online for your Nedbank Classic credit card. The first step is to determine whether you qualify for the card. Click here to go to the appropriate form. The check will take less than 5 minutes.
To make the process easy, keep a copy of your ID document and proof of your income over the last three months at hand. If you are employed, bank statements reflecting your salary, or payslips will be needed.
If you’re self-employed, your accountant has to confirm your income in writing. By completing the form, you consent to Nedbank to do a credit check. If you qualify, you will receive prompts on how to complete the form further.
If you are a current Nedbank customer and want to apply for the Nedbank Classic credit card, you can apply via the Nedbank’s Money app. If you don’t have the app, it is available at App Store (iOS), Google Play (Android), and App Gallery (Huawei).
Nedbank Classic Credit Card: Address and Contact
Nedbank’s head office is located at 135 Rivonia Road, Sandown, Sandton, 2196, South Africa. It can be reached by telephone at 0860 555 111.
The Nedbank Classic credit card is not only a good card from a financial point of view, but also assists you to become part of affinity programs. It is a card worth considering if you want your dollars to contribute to the greater good.
Before you apply for any credit card, do your research, so you can find one that is right for your lifestyle.
Disclaimer: There are risks involved when applying for and using credit products. Ensure you consult the Nedbank Classic credit card’s terms and conditions before agreeing on anything.