Home Finance How to apply and qualify for an FNB Credit Card

How to apply and qualify for an FNB Credit Card

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Credit cards can be a potent financial instrument if handled with due diligence and prudence. They offer immediate access to cash, and if you’re a frequent traveler, the benefits are even more attractive. FNB’s (First National Bank) credit cards provide travel-oriented advantages such as a whopping R5 million in medical insurance and up to R1 million in liability insurance, amongst many other rewards. The process is so streamlined these days that you don’t even have to step into a bank to apply.

Here are the detailed steps to secure an FNB credit card:

Step 1: Determine If You Are Eligible for an FNB Credit Card

Eligibility requirements may vary based on the specific credit card type you choose, but FNB has some basic criteria that all credit card applicants must meet. According to FNB, there are three essential criteria:

Citizenship/Residency: You must be a South African citizen or a foreign national with a valid passport and permit.

Income: You need to have a minimum annual income of R84,000, which equates to about R7,000 per month. This ensures that you have the financial capacity to repay your credit.

Age: You must be at least 18 years old. In South Africa, it’s against the law to issue credit to anyone under this age.

Once you meet all these criteria, you can proceed to the next stage, which involves selecting the FNB credit card that best suits your needs.

Step 2: Analyze and Select Your Preferred FNB Credit Card

FNB offers a wide variety of credit cards, each with different credit limits. Hence, you need to have a fair idea of which card is most suitable for your financial needs and lifestyle.

A crucial point to note is that the credit limit and APR (annual percentage rate) that FNB offers are largely dependent on your financial standing and prevailing market conditions. These specifics can only be clarified when you apply for the card. However, it’s generally understood that a robust credit score results in a more generous credit limit and a lower APR.

Step 3: Compile Your FNB Credit Card Application Documents

Upon confirming your eligibility and identifying your preferred credit card, it’s time to gather all the necessary documents to submit along with your application. These include:

  • Please provide your latest payslip as evidence of your income.
  • Proof of residence, which can be tenant agreements or utility bills bearing your name. If you reside with a family member, you can also use their utility bill along with a signed letter from them confirming that you live with them. Your bank statement, if it features your physical address, can also serve as proof of residence.
  • Your South African ID, which can be a valid driver’s license or a South African passport or a foreign passport with a valid permit, is needed to confirm your identity and citizenship.

If you’re applying online, you must also ensure that you have clear digital copies of these documents. These can be high-quality photographs or scans. Always check that your digital copies are clear, legible, and accurate.

Step 4: Initiate the FNB Credit Card Application

Now that you’ve met the eligibility criteria, decided on your card, and collated all necessary documents, it’s time to kick-start the application process. FNB offers you three channels to apply:

Online: You can apply on the FNB website. If you need help during the application process, an FNB representative is available at 0860 FASTAP (327827) to guide you.

Phone or Email: If you’re not confident with online applications, you can call 0860 FASTAP (327827) or send an email to fastapp@fnb.co.za. FNB personnel will walk you through the application process.

In-Person: If you prefer a traditional approach, you can visit your local FNB branch to apply. FNB offers a branch locator tool on their website to help you find a branch near you. Remember to bring all your documents to the branch to avoid any inconvenience.

Final Considerations

Applying for an FNB credit card can be quite straightforward if you make the right preparations. Always ensure that you meet FNB’s minimum criteria and have all the necessary documents ready before you start the application. This way, you avoid any hitches that could lead to disappointment or delays in your application process.