A revolving credit agreement
The Premier Credit Card is a revolving credit facility from First National Bank, a division of FirstRand Bank Limited, registered credit provider NCRCP20. The National Credit Act governs it. You spend in rand against a limit, repay, and repaid amounts can become available again.
A balance still unpaid after the statement date draws a personalised interest rate. That rate is printed on your pre-agreement quotation.
How the monthly figures relate
The official Premier page quotes R125 a month for the live card pack, in the main quote and again under What it costs. Fusion Premier, on that same page, is R260 a month. The Fusion fee is a single debit, and the credit facility sits inside it.
FNB's pricing guide has also listed a standalone Premier card fee of R95 plus a separate facility fee. The pre-agreement quotation records which of these packs is on your name.
The official Premier page also offers a bundle account at no cost to you. Initiation remains its own charge.
| Pack | Monthly figure FirstRand has printed |
|---|---|
| Live Premier card quote | R125 |
| Fusion Premier | R260, facility inside that one fee |
| Pricing-guide split | R95 card fee plus a separate facility fee |
| Twelve monthly charges at R125 come to R1,500. Add initiation at the top of the printed range, R210, and the fixed charges in this first-year illustration are R1,710. Twelve Fusion charges at R260 come to R3,120, with the facility already inside the fee. Interest on a revolving balance sits outside both totals and follows the rate on the quotation. |
What initiation of up to R210 means
The live page lists initiation at up to R210. The quotation should show the rand FirstRand will charge, at or under that figure. One additional card is the line marked at no extra cost. It shares the facility. Initiation is the separate amount.
The 55-day window, straight versus budget
Purchases kept on the straight facility can stay interest-free for up to 55 days, provided you pay the statement the way it asks. Settling the full straight-facility balance by the due date keeps that window. A minimum payment leaves the unpaid slice on your contracted rate.
Shift the same purchase to the budget facility, at a till or in a Partner Shop, and it becomes an instalment on its own rate path. Transfers at iStore, The Pro Shop and Cycle Lab can take 3 to 5 working days, with the ordinary personalised rate applying while the move is underway. Device deals at iStore or Hirsch's can return up to 40% in eBucks on the monthly premium when repayment runs through the budget facility and you have opted in.
The income band and the limit
Required income on the official page is R300,000 to R749,999 a year. That band is the entry range. The limit comes afterwards, from an affordability assessment under the National Credit Act: income you declare, expenses you declare, and a bureau check, typically TransUnion SA, Experian SA, or both. An income inside the band still passes through that test. FirstRand prints no single credit-limit ceiling. The rand available to spend is the limit the assessment grants.
Purchase Protect and debt protection
Purchase Protect, as worded on the live page, covers physical goods bought with the FNB Premier Virtual Credit Card. Cover is up to R10,000 per claim and lasts 30 days from the purchase date. Check the rider on your schedule before you claim.
Automatic debt protection on the same page pays up to R10,000 on death or permanent disability, and you can top the cover up. Confirm the rider on your schedule. The benefit stops at R10,000, so a larger card balance stays owing.
The pre-agreement quotation
Before you accept, FirstRand issues a pre-agreement quotation. It sets out your monthly fee, the initiation amount, the extra-card treatment, the limit, and your personalised rate. The Premier marketing page carries the published quotes. The quotation carries the numbers you agree to. Once the agreement is open, a missed payment can be listed at TransUnion SA and Experian SA, and arrears that continue can move into recovery under the National Credit Act.
