With the African Bank Credit Card, responsible use can actually earn you interest on a positive balance.
For South Africans who manage their money carefully, this turns a normal credit card into a useful short-term savings tool.
African Bank has stated in its publicly available material that customers can earn up to 3% per year on positive balances on qualifying credit card products.
How the African Bank Credit Card Works
African Bank offers credit cards that can be used in-store, online, internationally, and for secure digital payments.
One of the key features of the card is the availability of up to 60–62 days of interest-free purchases when the full balance is paid by the due date.
This helps customers avoid interest on standard spending. Credit limits depend on your affordability profile, verified income, and credit score.
Some African Bank cards—depending on the product and customer profile—may even be issued instantly in-branch after approval.
Interest Related
Monthly fees and debit interest rates vary by card type and are communicated in the official pricing guide.
What sets African Bank apart is that, on certain credit card products, positive balances earn interest.
This makes the card function partly like a transactional account if used responsibly.
Earning Interest on a Positive Balance
A positive balance means the bank owes you money instead of the other way around.
This happens when you deposit extra funds or overpay your balance.
African Bank’s own public information states that customers can earn up to 3% per annum interest on positive balances.
This is a unique benefit because many South African credit cards offer little to no interest on positive balances.
Key points to understand
Interest on positive balances is a useful bonus, but should not replace long-term savings accounts.
You must avoid carrying a negative balance, because interest charged on credit card debt is significantly higher than the interest earned on positive funds.
Customers who plan to use this feature should maintain only a modest positive balance for everyday use while still taking advantage.
Pros and Cons of Earning Interest on a Positive Balance
Consider each while using the benefit after getting your card.
| Pros | Cons |
|---|---|
| You earn up to 3% interest per year, which is a unique benefit compared to many other credit cards. | Interest earned is lower than savings or fixed deposit accounts, so it should not replace long-term savings. |
| Helps offset monthly service fees or occasional card costs. | You must keep a positive balance, which means tying up funds that could earn more elsewhere. |
| Works as a small emergency buffer, allowing instant access to funds on the card. | If the balance becomes negative, credit card debit interest is much higher than the positive balance interest you earn. |
| Encourages responsible credit card use, such as paying the full balance monthly. | Not ideal for users who frequently withdraw cash, as fees could cancel out the interest gained. |
| Allows you to use the card like a hybrid transactional + credit facility. | Positive balance rules and rates may change depending on the bank’s updated pricing guide. |
Basic Eligibility and Key Requirements
Requirements may change over time. Expect slight changes and verify well before you apply for the credit card.
Minimum income is around R5 000 per month, depending on the credit card product.
You must pass a full affordability and credit assessment under the National Credit Act.
Applicants must meet all FICA and KYC requirements before a card can be issued.
Easy Steps to Apply for an African Bank Credit Card
African Bank offers to apply online by completing the official application form
Collect All Required Documents
Before beginning your application, prepare a valid ID/passport, proof of income and residence (latest payslip), and three months of bank statements.
Having these ready helps avoid delays.
Submit Your Application
You will be asked to provide personal information, employment details, income, and expense information.
Details of any existing credit facilities are additional. You must also generate a one-use PIN code.
African Bank will use these details to calculate your affordability and determine your credit limit.
Wait for Approval
After you submit your documents, the bank reviews your credit profile.
For some customers, the card may be issued immediately in-branch once approval is completed.
If you apply online or through the app, you may need to pick up your card at a branch or follow the bank’s newest delivery process, depending on availability.
Activate Your Card
Once you receive your card, activate it using the method provided. Then, begin transacting.
From this point, any positive balance you maintain will automatically begin earning interest under your card’s specific terms.
Tips to Make the Most of Positive Balance Interest
Pay your full monthly balance to enjoy interest-free days. Maintain a small positive balance to earn up to 3% per year.
Avoid cash withdrawals on a credit card, as these attract immediate interest and fees.
Treat the positive balance feature as a bonus, not a replacement for savings accounts.
Using the card responsibly ensures you benefit from interest-free spending and positive balance interest.
African Bank Contact Details and Address
Customer Care Centre: 0861 111 011
Alternative Contact Number: 011 207 4500
Head Office Address: African Bank Limited 59 16th Road Midrand Johannesburg 1685 South Africa.
Customers can also use the African Bank website to find nearby branches and operating hours.
Conclusion
The African Bank Credit Card offers strong everyday payment features and a valuable bonus: earning up to 3% interest on a positive balance.
This makes the card suitable for users who want flexibility, digital convenience, and a small return on extra funds stored on the card.
The application process is simple, whether you prefer to apply online, in-branch, or via mobile.
Disclaimer: This article is for informational purposes only. Features, rates, fees, and requirements for African Bank credit products may change without notice. Nothing here constitutes financial advice or guarantees approval. Always verify the latest terms directly with African Bank or consult a licensed financial advisor before applying for or using any credit product.
