It’s a reliable and affordable option that offers loads of benefits to consumers in South Africa.
Whether you’re looking to make everyday purchases, book travel arrangements, or handle unexpected expenses, this Absa credit card is a great choice.
With it comes cashback rewards, easy online access, and worldwide acceptance. That means if you’re after convenience, flexibility, and great rewards, this credit card is definitely worth considering.
However, as with any financial product, it has several downsides too. So, to make an informed decision, it’s essential to delve deeper into this article and learn everything there is to know about the Absa Flexi Core Credit Card.
This piece takes a closer look at all the features, benefits, and disadvantages of the Absa Flexi Core Credit Card.
But first:
How the Absa Flexi Core Credit Card Works
The credit card operates in South Africa. You can use it to purchase online or in-store and get rewarded for your spending.
To apply, you must be 18 years or older, a South African citizen or permanent resident, and have a good credit record. Applying is easy – you can do it online, over the phone, or by visiting an Absa branch.
Once approved, you’ll be assigned a credit limit based on your credit score, income, and other factors, determining the maximum amount you can spend using the card.
Features of Flexi Core Credit Card
Let’s take a closer look at the features of the Absa Flexi Core credit card. This card has a range of unique features, such as:
Cashback rewards: Earn cashback rewards on both local and international purchases with your Absa Flexi Core credit card. As a rewards program member, you can receive up to 30% cashback and up to 50% discounts on purchases.
Instant rewards: Enjoy instant rewards by completing easy challenges on the Absa Banking App with Absa Advantage.
Travel coverage: Travel with peace of mind with automatic coverage for various travel emergencies under the basic insurance plan. As a cardholder, you can get 90 days of free travel insurance if you buy airline tickets using your Flexi Core credit card. You can also extend your travel insurance by paying an additional fee. The card automatically covers up to R5 million for international travel.
Convenient banking: Easily manage your banking needs using the Absa Banking App and Absa Online Banking.
Contactless payments: Make contactless payments easily at any point-of-sale machine worldwide by tapping your card, smartphone, or wearable device.
Exclusive offers: Benefit from exclusive benefits with Visa Global Merchant offers.
Lost card protection: Protect your card against loss for free and report theft or loss immediately via (0800 111 155).
Enhanced security: Enhance your security by enabling SMS notifications to receive alerts for any activity in your account with NotifyMe SMS Alerts.
Pros and Cons of Absa Flexi Core Credit Card
- Advantages
The Absa Flexi Core credit card provides numerous benefits that simplify and enhance your life.
To start with, it helps establish your credit history and raise your credit score with a credit limit of up to R90,000 for all kinds of purchases, whether online or in-store.
In addition, you earn cashback rewards with every usage, which can be redeemed for cash or meal vouchers, among other options.
Managing your account is simple since you can access it online to monitor your balance, settle payments, and keep track of rewards.
For added security, the card includes credit life protection, which pays off any outstanding balance in the event of death, permanent disability, or severe illness.
Another significant advantage of the Absa Flexi Core credit card is its global acceptance, making it convenient for frequent travelers or international shopping.
Lastly, the card enables contactless payments with a swipe, scan, or tap of your card or device, and no transaction fees are charged for purchases made with the card.
- Disadvantages
Although the Absa Flexi Core Credit Card provides numerous benefits, it also has its downsides.
Firstly, meeting certain eligibility requirements is necessary before applying for the card. Applicants must have a minimum monthly income of R2000 and undergo an affordability assessment to ensure they can responsibly manage their credit.
Additionally, the card incurs monthly and withdrawal fees, which should be considered when budgeting.
Another downside to consider is that applying for a credit card can hurt your credit score.
Lastly, having a credit card can lead to overspending. Therefore, creating and adhering to a budget is critical to avoid accruing a balance that cannot be paid off.
Rates and Fees of Absa Flexi Core Credit Card
You won’t be charged any fees when you use your credit card for purchases. However, a secondary card will cost you R20 monthly.
The other fees you need to be aware of are the monthly ones. To use your card, you’ll need to pay a monthly account fee of R19 as well as a monthly credit facility fee of R30.
When you withdraw cash, there are some fees involved. You’ll be charged R2.50 per R100.00 for cash withdrawals, R10.00 + R2.50 per R100.00 for cash withdrawals at Saswitch ATM or Post Office terminal, and R100.00 for overseas ATM withdrawals.
If you want to deposit cash, there’s a fee of R2.50 per R100.00 for deposits made at Absa ATMs and R4.00 per R100.00 for deposits made at Absa branches.
The good news is that you can enjoy up to 57 days of interest-free transactions on eligible purchases. But after that, you’ll need to pay off the outstanding balance with a minimum of 3% each month.
You also have the option to sign up for a credit card protection plan, which will cost you 0.41% of the monthly premium maximum.
Finally, you do need to make fixed payments and you can pay extra if you so desire.
Eligibility Criteria and Requirements
You must meet several requirements to be eligible for the Absa Flexi Core credit card. Firstly, you must be at least 18 years old.
Additionally, you must have a monthly income of R2000 or more and undergo an affordability assessment to ensure you can handle the credit responsibly.
You’ll also need proof of residency, such as a utility bill and a valid South African ID card book or smart card.
Lastly, you must submit the most recent evidence of income for three consecutive months to complete your application.
How to Apply for Absa Flexi Core Credit Card
To apply for the Absa Flexi Core Credit Card, you must go through a 5-step application process. Here are the steps:
- Click on the Apply Now button
- Once on the “Online Account Application” page, input the characters in the image.
- Complete the six-step assessment,
- If you cannot finish the application, click “Save” and resume later at each assessment stage.
- Click “Apply” when you complete your assessment process.
Alternatively, you can call the bank to make a telephone application via 0861 114 411 or visit their offices when open, including:
Weekdays 08:00 – 17:30
Saturday 08:00 – 13:00