Capitec Bank

The 55-day interest-free period means that if you pay your full outstanding balance by the payment due date shown on your statement, you will not be charged any interest on purchases made during that billing cycle. The period runs from your statement closing date to your payment due date. If you do not pay the full balance, interest is charged from the transaction date on the remaining amount — not just from the due date.

Your 1% cash back on all Capitec credit card purchases is calculated automatically at month-end. You do not need to register separately — it applies to all in-store and online card spending. The cash back is credited to your Live Better savings account on the 10th of the following month in rand. For example, spend R8,000 in May and R80 will appear in your Live Better savings on 10 June.

Yes. You can apply for a credit limit increase at any time through the Capitec app (Credit > Credit Card > Increase Limit) or at any branch. Capitec performs an updated affordability and credit assessment. There is no application fee. You can also decrease your limit at any time via the app — a useful feature for budgeting purposes or to reduce your debt exposure.

Missing a payment results in a penalty fee being charged to your account, and interest continues to accrue on the full outstanding balance at your contracted rate. The missed payment is reported to credit bureaux, which can negatively affect your credit score for up to two years. If you anticipate difficulty making a payment, contact Capitec proactively on 0860 10 20 43 before the due date to discuss possible arrangements.

To cancel your Capitec credit card, you must first settle the full outstanding balance. Once the balance is zero, call Capitec on 0860 10 20 43 or visit a branch with your valid ID and request formal closure. Capitec will confirm the cancellation in writing. Note that closing a credit card can temporarily affect your credit utilisation ratio and credit score, particularly if it is your longest-held credit account.

Yes. The Capitec credit card is a Mastercard and is accepted at millions of merchants and ATMs worldwide. Foreign currency transactions are converted to rands at the prevailing Mastercard exchange rate, and a foreign currency conversion fee applies. Before travelling, ensure your card is activated for international use and that your daily limits are set appropriately — both are manageable in the Capitec app in under a minute.