South Africans can open an American Express Credit Card and reap all the benefits that come with it when using the card. With this credit card, the larger purchases you make, the easier pay-back installments there are.
American Express Cards are flexible; you can use the card for your daily banking routine and have the freedom to pay back the credit in your terms. If you make a larger purchase, you will be given a chance to pay it off over a longer period of time.
What can I do with the Credit Card?
- You will be able to transfer between your accounts. You can transfer funds or balance from one card to another, or you can store your card to your American Express Card (This is will be charged a low-interest rate of 990% for the first six months).
- You can make full payments of your outstanding credit balance or pay-off a minimum of 10% of the outstanding balance monthly.
- The American Express Card comes with Payment Protection Plan which covers part or your full outstanding Credit Card Balance up to R150 000.
- American Express offers a budget facility for purchase over R300 for your convenience and can be paid off over 3, 6, 12, 24 or 36 months
- Automatic medical cover expenses up to R450 000 for you and your family when you purchase travel tickets using your American Express Credit Card. You will be covered both locally and internationally – You are welcome to add an optional comprehensive top-up cover which is available at lower rates.
- You get Credit Protection insurance cover for an outstanding balance of up to R150 000 including the budget facility to any American Express Cardholder should anything happen to them and unable to commit to their obligations.
- Make money transfers from one credit card or store card to your American Express Card at a 9.90% rate for the first six months.
- You may apply for a free supplementary card (Can be for any family member, spouse or friends)
You have a choice to pay a minimum of 10% of your outstanding balance or pay it off in full. The quicker you settle your credit, the better and healthier your credit record becomes. You can use the credit card anywhere you see American Express sign in over 200 countries internationally and 60 000 merchants locally. With a very small fee, you can activate your online banking and have full access (Balances and Transactions) to your account 24 hours around the clock. If you would like to activate your eStatement, you should dial 0860 555 111.
Requirements to apply
- ID Copy
- Proof of Income (3 Months Bank Statement or recent payslip – If you bank with Nedbank, Absa or Standard Bank, It will be found on your behalf)
- You must be 18 years or older
- You must earn at least R200 000 annually
Credit Card Rewards
- To enjoy the credit card benefits and rewards, you have to join the American Express Membership Rewards Programme.
- For every R5 you spend on your credit card, you will be rewarded a point (Please note that your R5 purchase should be local and international purchase excluding cash withdrawals, gambling chip purchases, charges, fees, taxes levied by Nedbank or government, purchases of travelers cheques or other negotiable instruments, garage card transactions, budget account installments and interest thereon, insurance premiums and internet transfers/payments)
- American Express Reward Points do not expire and can be redeemed for a variety of lifestyle and travel rewards.
- Optionally, you can enroll for an additional monthly linkage fee of R23.
For lost or stolen American Express Cards, you will be held liable for any fraudulent transactions on your credit card once reported, call 0800 110 929, alternatively, you can visit American Express Page explaining the product. Or Apply Online.
American Express Credit Card Review