Capitec Bank Credit Card Review

Overall, Capitec Bank can be summarised as an American bank holding company and multinational financial services corporation that offers access to Credit Cards, Travel Insurance, Investment Opportunities plus Multiple Account Types and services for Personal, Business, and Corporate Banking. Capitec Bank is listed on the JSE and over 120’000 new accounts are opened per month.

Capitec Bank Credit Cards – Analysis of Providers Main Features

1. ☑️ Capitec Credit Card Overview
2. ☑️ Applying for a Capitec Credit Card
3. ☑️ Managing and Using Capitec Credit Cards
4. ☑️ Capitec Global One Credit Card Cashback Rewards Program
5. ☑️ Capitec Global One Credit Card Travel Benefits
6. ☑️ Capitec Global One Credit Card Enhanced Security Features
7. ☑️ Capitec Global One Credit Card Access to Exclusive Offers and Discounts
8. ☑️ Tips on Maintaining and Improving Your Credit Score with Capitec Credit Cards
9. ☑️ How Capitec is Disrupting Traditional Banking Models
10. ☑️ Capitec Mobile App Overview and Features
11. ☑️ Importance of Choosing the Right Credit Card
12. ☑️ In Conclusion
13. ☑️ Frequently Asked Questions

Capitec Credit Card Overview

Capitec offers access to the Capitec Global One Credit Card.  The Capitec Bank Global One credit card is a hybrid credit card that gives rewards for traveling as well as benefits for leisure activities. The credit card comes with a monthly fee of R40.00, and the interest rate is changeable, but it starts at 7.25%. The credit card has a maximum credit limit of R500,000.00, but the actual credit limit is based on the cardholder’s income as well as how much they can afford to spend.

To qualify for the Capitec Bank Global One credit card, you need a stable income of at least R5,000.00 per month and a job that pays you regularly. For those who are self-employed and want to apply for a credit card, the minimum monthly income requirement is R10,000.00. In order to be qualified for the account, you need to have a satisfactory credit score.

Applying for a Capitec Credit Card

Applying for a Capitec Credit Card is a straightforward process that requires meeting certain eligibility requirements and submitting the necessary documents. Here is a detailed overview of the steps involved.

Eligibility requirements

To be eligible for a Capitec Credit Card, you must meet the following criteria:

• ✅ You must be 18 years of age or older.
• ✅ You must have a valid South African ID document.
• ✅ You must meet the minimum income requirement of R5,000 per month for employed individuals or R10,000 per month for self-employed clients

Application process

The application process for a Capitec Credit Card can be completed through various channels, including in-branch, online, or via the Capitec mobile app. You must provide your details, employment information, and contact information.

Required documents

When applying for a Capitec Credit Card, you will need to submit the following documents:

• ✅ Original South African ID document.
• ✅ Latest salary slip or proof of income.
• ✅ Three-month bank statement.

Once you have submitted your application and provided the required documents, Capitec will review your application based on numerous factors, including your creditworthiness and affordability.  The decision on your application and the credit limit assigned to your credit card will depend on factors such as your income, credit history, and ability to repay the credit.

Managing and Using Capitec Credit Cards

✅ Card activation and PIN setup

Once you receive your Capitec Credit Card, visit any Capitec Bank branch to activate it and set up your PIN. Bring your ID and the card with you.

A knowledgeable bank consultant will guide you through the process. Remember to keep your PIN confidential for security reasons and never share it with anyone.

✅ Understanding the credit limit and available credit

Your credit limit represents the maximum amount Capitec Bank approves for borrowing on your credit card.  Available credit refers to the remaining amount you can utilize, calculated as the credit limit minus the balance owed. Check your credit limit and available credit anytime through the Capitec Bank app or Internet banking.

✅ Making payments and due dates

You can conveniently pay your Capitec Credit Card using the Capitec Bank app, Internet banking, or by visiting any Capitec Bank branch.  Ensure you pay at least the minimum amount due by the specified due date to avoid late fees. Paying the full balance each month is advised to prevent interest charges.

✅ Managing card transactions and statements

Effortlessly manage your card transactions and access statements using the Capitec Bank app or Internet banking.  Track your spending, review transaction history, update daily card limits for withdrawals and card machine purchases, easily email statements from your phone, and promptly identify and dispute unauthorized debit orders.

✅ Reward redemption options

Capitec Bank offers the “Live Better rewards” program, allowing you to earn cash back on your spending. Upon reaching your monthly Bank Better goals, you receive 0.5% cash back on all purchases made with your debit, credit, and virtual card.  This cashback is deposited into your Live Better savings account on the 10th of every month.

Additionally, if you have a Capitec credit card, you can enjoy an extra 1% cash back on your monthly credit card spend by simply clicking, tapping, swiping, or scanning to pay through the Capitec app. All cashback is paid into your Live Better savings on the 10th of every month.

Capitec Global One Credit Card Features and Benefits

The Capitec Global One Credit Card comes with the following notable features and benefits:

• ✅ Capitec credit cards offer a credit limit of up to R500,000.
• ✅ Earn 1.5% cash back on your spending and banking activities with Capitec.
• ✅ Get 1% cash back guaranteed when making in-store or online payments through clicking, tapping, swiping, or scanning.
• ✅ Additional 0.5% cash back when you achieve your monthly banking goals.
• ✅ There are no fees for currency conversion when making international transactions
• ✅ Enjoy fee-free local transactions when using your Capitec credit card.
• ✅ Your Capitec credit card can be delivered directly to your doorstep free of charge.
• ✅ Benefit from interest rates starting from prime on your credit card balance.
• ✅ Capitec offers an interest-free period of up to 55 days on purchases made with a credit card.
• ✅ Shop confidently online, knowing that Capitec provides safe and secure online shopping experiences with partnered retailers.
• ✅ Receive free travel insurance coverage of up to R5 million for added protection during your travels.
• ✅ Capitec’s credit card helps you build a positive credit record when used responsibly.
• ✅ Earnings on Positive Balances:
• ✅ Earn 3.50% per year on positive balances in your Capitec credit card account.

To apply for a Capitec Credit Card, you need to fulfill a few key documents and requirements. These include:

• ✅ Original ID Document: You must be 18 years or older and provide a valid original ID document as proof of your identity.
• ✅ Latest Salary Slip: Submit your most recent salary slip to demonstrate your income level and affordability.
• ✅ 3-Month Bank Statement: Provide a comprehensive bank statement covering the past three months. This helps Capitec assess your financial stability and transaction history.

In addition to the documentation, meeting the minimum income requirements is important. For employed individuals, the minimum monthly salary requirement is R5,000. Self-employed clients need to have a minimum monthly income of R10,000.

Capitec Global One Credit Card Fees and Interest Rates

The typical fees associated with a Capitec Global One Credit Card are as follows:

• ✅ Initiation Fee – R100
• ✅ Monthly Fee – R50

Capitec’s Credit Card interest rate is 11.75% – 22.25% depending on your credit profile.

Capitec Global One Credit Card Cashback Rewards Program

To participate in Capitec’s cash-back program, individuals are encouraged to join Live Better, conveniently accessible through Capitec’s user-friendly mobile application.

The registration process is straightforward and incurs no fees, granting users access to exclusive rewards and savings opportunities.

To start earning cash back, customers are encouraged to fulfill a minimum of five specific transactions per month, including the following:

• ✅ Purchasing prepaid mobile airtime
• ✅ Buying electricity
• ✅ Using scan-to-pay functionality for purchases
• ✅ Sending cash to acquaintances
• ✅ Making beneficiary payments

Meeting these Bank Better goals makes participants eligible for cash-back rewards.  Furthermore, upon successfully achieving the monthly Bank Better goals, customers earn a competitive cash-back rate of 0.5% on all transactions using their Capitec debit card, credit card, or virtual card.

The cashback amount is automatically deposited into the customer’s Live Better savings account on the 10th of every month, commonly called “Live Better day.” This system effectively serves as an additional payday, providing rewards to customers based on their banking activities.

For Capitec credit card holders, an additional opportunity to earn cash back is available. By utilizing the Capitec mobile application to make payments via click, tap, swipe, or scan using their credit card, customers can enjoy an extra 1% cash back on their monthly Capitec credit card expenditure.

This feature enables credit card users to maximize their earning potential within the program.

Capitec Global One Credit Card Eligibility and earning potential

To be eligible for earning cash back through Capitec’s cashback program, customers are required to fulfill the following criteria:

• ✅ Hold a Capitec debit card, credit card, or virtual card: Cash-back rewards are applicable only for transactions made using a Capitec payment card.
• ✅ Join Live Better on the Capitec mobile app: Customers must sign up for the Live Better program through Capitec’s mobile application. The free registration process allows users to access exclusive rewards and savings opportunities.
• ✅ Meet the monthly Bank Better goals: Customers must strive to complete at least five specific transactions each month to achieve their goals. These transactions may include purchasing prepaid mobile airtime, buying electricity, utilizing scan-to-pay functionality, sending cash, or making payments to beneficiaries. Meeting these goals is a prerequisite for earning cash-back rewards.
• ✅ Achieve the monthly Bank Better goals: Customers need to successfully fulfill the monthly Bank Better goals to become eligible for cash-back rewards. Once these goals are met, customers can earn cash back on their transactions.

Capitec has established valuable partnerships with various retailers, allowing customers to access exclusive cash-back rewards or discounted prices. Customers are encouraged to join Live Better on the mobile application to take advantage of these benefits.

By doing so, they can earn cash-back rewards or enjoy discounts when purchasing at partnered establishments. Some noteworthy examples of Capitec’s Spend Better partners and the associated cash-back opportunities include the following:

• ✅ Bolt: Through the Bolt Food app, customers can receive 5% cash back when ordering food, requesting a ride, and completing payments with their Capitec card.
• ✅ Cashbuild: When purchasing building tools, construction hardware, or DIY supplies at Cashbuild and using a Capitec card for payment, customers can earn 1% cash back.
• ✅ Dis-Chem: Customers shopping for health, wellness, and beauty products at Dis-Chem can earn 2% cash back by paying with their Capitec card and being a member of Live Better on the app.
• ✅ Dis-Chem Baby City: By utilizing their Capitec card and being part of Live Better, customers can earn 2% cash back on baby and mommy essentials purchases at Dis-Chem Baby City.

Capitec clients can now enjoy cash-back benefits at Shell. Customers can avail themselves of this opportunity by swiping their registered Shell V+ card and paying with their Capitec card or utilizing the app’s scan and pay feature.

Capitec Global One Credit Card Travel Benefits

Capitec’s credit card offers a variety of features and benefits intended to improve cardholders’ lives. These benefits include international travel insurance, which provides peace of mind during international travel.

International travel insurance is intended to cover unanticipated medical expenses that may arise while traveling abroad.

Capitec credit cardholders under 75 who purchase and pay in full for a flight ticket using their credit card are eligible for complimentary standard travel insurance. Comprehensive top-up coverage is offered for an additional fee to those who require additional coverage.

Below are the features and benefits of Capitec’s travel insurance benefit:

• ✅ The free basic coverage provides emergency medical and related expenses up to R5 million, as outlined in the Travel Insurance Consultants (TIC) benefit schedule.
• ✅ Customers may elect for comprehensive top-up coverage, which includes additional benefits such as trip cancellation, hijacking and unlawful detention, lost or stolen baggage, and legal expenses. This coverage can be arranged separately through the TIC website or by phone, with a quote for the additional premium provided.

However, the following conditions apply to Capitec’s travel insurance:

• ✅ The complete price of the return flight ticket must be paid with a Capitec credit card before departure.
• ✅ The consumer must be younger than 75 years old.
• ✅ The duration of your trip must be less than ninety days.
• ✅ International travel insurance coverage does not extend to domestic travel, even if the domestic travel expenses are purchased and paid for with the Capitec credit card.

The coverage extends to the cardholder and their immediate family members.

Capitec Global One Credit Card Enhanced Security Features

Capitec understands the importance of secure online banking, and they have implemented robust security measures to protect your funds and personal information. Here is an overview of the enhanced security features that Capitec offers to ensure a safe online banking experience.

✅ Secure Design and Daily Vulnerability Assessments

Capitec has invested in a secure online banking portal designed with your protection in mind. They conduct daily vulnerability assessments to identify and address potential security risks promptly.

✅ Two-Factor Authentication

To add an extra layer of security, Capitec employs two-factor authentication. You can choose between using a cellphone app or a token on a keyring as your security type during registration.

This ensures that only authorized users can access your account by requiring a second verification form in addition to your username and password.

✅ Username and Password

Your username is your account number, linked to your online banking profile, for identification purposes. It is important to keep your username confidential to minimize the risk of unauthorized access or identity theft.

When contacting Capitec’s customer service (0860 10 20 43) for online banking assistance, they may request your username to verify your profile.  Capitec requires a password between 6 and 18 characters long, including a combination of letters or numbers. Choosing a strong and unique password that is not easily guessable or associated with personal information is crucial.

Changing your password frequently adds an extra layer of security. Capitec advises against sharing your password with anyone, including their employees, who will never ask for it.

✅ Remote PIN

When registering for Capitec’s cellphone banking app, you will be assigned a Remote PIN of 5 to 6 digits. This PIN is used for signing into the banking app and authorizing transactions.

Keeping your Remote PIN confidential is of utmost importance, and it should not be easily guessable or identical to PINs used for other purposes, such as unlocking your phone.

✅ Token Password

If you opt for a token on a keyring as your security type, it will be linked to your profile. This token generates unique passwords for authentication purposes during online banking sessions.  These one-time passwords offer increased security and become invalid after use, rendering them useless to potential intruders.

Unlike passwords sent via SMS, token passwords cannot be intercepted if you keep the token and only enter the passwords on Capitec’s internet banking site.

✅ Confirmation Messages

When selecting the banking app as your security type and successfully activating it on your cellphone, you will receive detailed confirmation messages through the app.

These messages are used to approve online banking sessions and transactions. In case you cannot receive confirmation messages, the app allows you to generate token passwords as an alternative authentication method.

✅ Validating the Online Banking Site

Capitec captures your photograph when opening an account, which is then linked to your online banking profile. Verifying that the displayed photograph is yours and consistent with your previous sessions is essential.

If you notice any changes in your profile photograph without your knowledge or suspect that you are not on Capitec’s genuine online banking website, it is recommended to cease transactions immediately and contact Capitec’s customer service

Capitec Global One Credit Card Access to Exclusive Offers and Discounts

Capitec’s Credit Card offers a variety of exclusive offers and discounts. Here are some of the key benefits.

✅ Cash Back Offer:

Capitec’s credit card offers a cash-back feature where you can earn cash back on all your card purchases. The cashback is calculated as a percentage of the purchase amount and is credited to your account at the end of each month.

The cashback percentage varies depending on the type of purchase and the merchant. For example, you can earn up to 2.25% cash back on card purchases at participating retailers.

The cashback feature is automatically activated when you open a Capitec credit card account, and there is no limit to the amount of cashback you can earn.

✅ Exclusive Books Discount:

Capitec has partnered with Exclusive Books to offer 10% cash back when you shop at Exclusive Books every Live Better day. This offer is applicable when you pay with your Capitec card in-store or online.

✅ Travel Benefits:

Capitec’s credit card offers several travel benefits, including the following:

• ✅ No conversion fees: Unlike most credit cards that charge a currency conversion fee for international purchases, Capitec’s credit card does not charge conversion fees, making your money go further. When traveling abroad, pay in the local currency at the card machine.
• ✅ Use a single card: With a single card, you can easily access your transactional or credit account, making transactions more convenient and secure.
• ✅ Go interest-free: The credit card offers a 55-day interest-free period. You pay zero interest if you pay the outstanding balance before the interest-free period ends.
• ✅ Zero card purchase fees: Paying with your card is free, so you do not need to worry about bank fees.
• ✅ Free travel insurance: If you book international flights with the Capitec credit card, you get free basic travel insurance. You will be covered for medical emergencies and expenses up to R5 million.

✅ Partnerships for Discounted Interest Rates:

Capitec has partnered with education, medical, and vehicle service providers to offer credit solutions with discounted interest rates over an extended term.

For example, they offer discounted interest and extended terms for home building and DIY projects, affordable credit options for education, up to R500,000 for ongoing medical expenses, surgery, therapy, or to settle bills, and an affordable vehicle loan while you are browsing with an offer in seconds.

Tips on Maintaining and Improving Your Credit Score with Capitec Credit Cards

Maintaining and improving your credit score is essential for your financial well-being. Here are some tips on what to do and what to avoid when using your Capitec credit cards to help maintain and improve your credit score:

To Maintain and Improve your credit score with Capitec Credit Cards you should:

• ✅ Make timely payments: Ensure you pay your credit card bills on time to avoid late fees and negative impacts on your credit score. Consider setting up automatic payments or reminders to help you stay on track.
• ✅ Maintain a low credit utilization ratio: Aim to keep your credit utilization ratio, which compares the amount of credit you use to your total available credit, as low as possible. You should not use more than 30% of your available credit to demonstrate responsible credit usage.
• ✅ Regularly monitor your credit: Stay informed about your credit status by checking your credit reports and scores. This will help you identify any errors or potentially fraudulent activity. Capitec offers credit monitoring services that can assist you in staying updated on changes in your credit profile.
• ✅ Use credit responsibly: Only charge what you can afford to repay and avoid maxing out your credit cards. Use your credit cards for necessary expenses and emergencies rather than excessive or impulsive spending.

Finally, maintain a long credit history The length of your credit history can positively impact your credit score. Consider keeping older credit card accounts open to demonstrate a longer credit history, even if you do not use them frequently.

To Maintain and Improve your credit score with Capitec Credit Cards you shouldn’t:

• ✅ Avoid missing payments: Late or missed payments can significantly harm your credit score. Make every effort to pay at least the minimum amount due on time each month.
• ✅ Steer clear of excessive credit applications: Applying for multiple credit cards or loans within a brief period can harm your credit score. Only apply for credit when necessary and space out your applications.
• ✅ Do not close old credit card accounts: Closing old ones can shorten your credit history and potentially increase your credit utilization ratio. Unless these accounts come with high fees or a specific reason to close them, you should keep them open.
• ✅ Refrain from maxing out your credit cards: Maxing out your credit cards or carrying high balances can negatively affect your credit score. Aim to keep your balances low and strive to pay off your credit card bills in full whenever possible.

Finally, do not ignore credit issues. If you encounter financial difficulties, reaching out to your creditors or Capitec as soon as possible is important to discuss potential solutions. Ignoring credit issues can lead to further damage to your credit score.

How Capitec is Disrupting Traditional Banking Models

✅ Resisting Revenue Temptations:

Capitec has maintained a strong focus on its core offerings, resisting the temptation to diversify into additional revenue streams that could result in costly complexity.

It caters exclusively to individuals, offering everyone a single account with identical terms, prices, and services. These consumers are served by a network of highly efficient physical branches.

✅ Evolving Purposefully:

Capitec’s strategy has deliberately evolved over the years. It entered the industry initially in rural areas before expanding to larger cities and establishing branches in upscale retail malls.  This strategy of beginning at the bottom of the market and working its way up resembles the disruptive innovation model.

✅ Breaking Outdated Habits:

Capitec has innovated by abandoning obsolete business practices. In contrast to traditional banks, which close at 3h30 pm., Capitec keeps its branches open until 6 or 8 p.m., and even on Sundays, to meet the requirements of working customers. Customers appreciate that it charges a flat fee for all transactions, regardless of the transferred quantity.

✅ Customer-Centric Approach:

Capitec has adopted a customer-centric approach, considering account holders as customers rather than account holders alone. Customers are told they are visiting a store rather than a bank.  Due to this strategy, Capitec has had the most delighted customers of any bank in the country for the past five years.

✅ Innovation Around Frustrations:

Capitec’s chief executive officer, Gerrie Fourie, has characterized the bank’s strategy as “innovating around frustrations.” Capitec has introduced a new model to the industry by emphasizing eliminating obsolete practices.

Capitec Mobile App Overview and Features

The Capitec mobile app provides a convenient and secure way to bank without the need to visit a branch. Here is an overview of the app’s features and functionalities:

• ✅ Easy Access and Account Opening: Download the Capitec Bank app from your app store or use the provided links to gain access. You can open a Capitec account by simply taking a selfie and entering your ID number, eliminating the need for a branch visit.
• ✅ Personalized Home Screen: Customise your home screen to view all your accounts and balances at a glance, allowing easy tracking and managing of your finances.
• ✅ Scan to Pay: Use the app to scan major QR codes, making payments quickly and securely without the hassle of manual entry.
• ✅ Personalized Pay Me QR Code: Generate a unique QR code that allows Capitec clients to instantly transfer money into your account, providing a convenient and safe payment method.
• ✅ Favorites and Shortcuts: Set up shortcuts on your home and sign-in screens for quick, one-tap access to the app’s most frequently used features.
• ✅ Spending Tracker: Monitor your expenses and gain insights into your spending habits with a visual overview of categorized expenses, such as food, transportation, or communication.
• ✅ Notifications: Choose to receive Money In/Money Out messages within the app for free or via SMS at a cost, keeping you informed about your transactions.
• ✅ Biometric Authentication: For supported devices, use fingerprint or facial recognition to sign in and authenticate, adding an extra layer of security.
• ✅ Virtual Card Activation: Activate your virtual card within the app, enabling secure transactions for the app, online, and scan-to-pay payments.

Easily control the tap-to-pay feature of your Capitec card, allowing you to turn it on or off as needed.

Importance of Choosing the Right Credit Card

Choosing the right credit card is of utmost importance when managing your finances effectively and maximizing the benefits of credit card usage.

✅ Financial Health:

A credit card should be compatible with your financial goals and lifestyle. Determine the most advantageous credit card features based on your spending patterns, repayment capabilities, and financial priorities by analyzing your spending habits, repayment abilities, and financial priorities.

If you frequently travel, for instance, a credit card with travel rewards and airline perks would be preferable to one with cashback benefits.

✅ Rewards and Benefits:

Credit cards have various rewards programs and perks that can significantly improve your financial experience. Consider credit cards with rewards and perks corresponding to your preferences and spending habits.

Choose a card that offers the most value to you, whether it is cashback on specific categories, discounts at partner merchants, or travel perks such as lounge access and travel insurance.

✅ Interest Rates and Fees:

Understanding the interest rates and fees associated with a credit card is essential for avoiding unnecessary expenses.

Compare various credit cards’ annual percentage rates (APR), balance transfer fees, foreign transaction fees, and late payment fees. Choose a card with competitive interest rates and low fees to reduce the total cost of credit.

✅ Credit Score Impact:

Your credit card usage significantly impacts establishing and maintaining a good credit score. Creditworthiness can be improved through on-time payments, responsible credit utilization, and a positive repayment history.

Choose a credit card that reports your payment history to credit bureaus and provides tools for monitoring and enhancing your credit score.

✅ Customer Service and Support:

Access to dependable customer service and support is essential for a successful credit card transaction.

Consider the credit card issuer’s standing and the quality of its customer service. Consider options such as around-the-clock customer service, online account management tools, and proactive fraud protection to ensure prompt assistance.

✅ Financial Flexibility:

The appropriate credit card should allow you to manage your finances effectively. Consider grace periods without interest, installment payment options, and flexible credit limits.

These features can assist you in optimizing your cash flow, controlling your expenses, and avoiding unnecessary interest fees.

✅ Security Measures:

Credit card security is of paramount importance in the digital age. Ensure the credit card issuer employs stringent security measures to safeguard your personal and financial data.

EMV chip technology, two-factor authentication, and fraud monitoring systems can provide peace of mind and safeguard against unauthorized transactions.

In Conclusion

The Capitec Bank Global One credit card is a hybrid credit card that gives rewards for traveling as well as benefits for leisure activities.  To qualify for the Capitec Bank Global One credit card, you need a stable income of at least R5,000.00 per month and a job that pays you regularly.

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Frequently Asked Questions

Does Capitec offer a credit card?

Yes, Capitec offers a credit card with an R500,000 credit limit and a cash-back feature.

Which Capitec Credit Card or Suit is the best?

Capitec offers the highly regarded Global One credit card, which earns interest on positive balances.

What bank is Capitec Credit Card?

The South African retail bank, Capitec Bank, issued a Capitec Credit Card.

How long does Capitec take to approve a credit card?

Capitec Bank immediately issues credit cards upon application approval.

What makes Capitec different from traditional banks?

Capitec’s customer-centric approach, extended banking hours, fixed fee structure, and emphasis on simplicity with a single account type for all customers distinguish it from traditional banks.

It also innovates in response to consumer annoyances, resulting in a more convenient and effective banking experience.

Can anyone join Capitec, or is it exclusive to Capitec Limited members?

Capitec is not exclusive to Capitec Limited members; anyone can participate. The bank provides services to various clients, not just one group.

What security measures are in place to protect customer data?

Capitec Bank takes account security and privacy very seriously and has implemented safeguards to protect customer information and funds.

How does Capitec leverage technology to enhance the banking experience?

Capitec uses various technology products and services, including HTML5, jQuery, and Google Analytics, to enhance the banking experience and provide consumers with efficient services.

Are there any fees associated with using Capitec’s services?

Yes, there are costs associated with the use of Capitec’s services. These include transaction fees, card replacement costs, and Internet banking tokens.

What kind of shared-value partnerships does Capitec offer?

Capitec has formed shared-value partnerships, such as the one with LivePerson, to offer clients more affordable and accessible banking services and to improve consumer engagement through AI-powered solutions.

How can Capitec influence the banking industry as a whole?

Capitec can influence the banking industry by demonstrating the success of its customer-centric strategy, extended banking hours, and streamlined product offerings, encouraging other banks to implement similar practices to improve customer satisfaction.

How do I qualify for a Capitec Credit Card?

To qualify for a Capitec Credit Card, you must be 18 years old and provide an authentic identification document, your most recent pay stub, and a three-month bank statement. R5,000 is the minimum salary required to apply for a credit card.

What are the fees associated with Capitec Credit Cards?

The fees associated with Capitec Credit Cards include an initiation fee of up to R100, a monthly fee of R50, and an interest rate spanning from 11.75% to 22.25% based on your credit history.

Can I use my Capitec Credit Card internationally?

Yes, your Capitec Credit Card can be used internationally. The card does not charge fees for currency conversion, making it convenient for international use.

How can I track my credit card transactions?

You can monitor your Capitec Credit Card transactions via the Capitec Bank app or Internet banking, where you can view your transaction history and administer your account.

Can I set spending limits or block certain transactions on my card?

Yes, you can set spending limits on your Capitec Credit Card to manage your expenses and avoid transaction declines.

What happens if my card is lost or stolen?

If your Capitec card is lost or stolen, log in to your account, select “Cards,’ click “Stop Card,” and then select a reason for the block.

How can I earn and redeem cashback rewards?

When you reach your monthly Bank Better objectives with Capitec’s Bank Better Rewards, you receive 0.5% cash back on all debit, credit, and virtual card purchases.

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