First National Bank Credit Card

7th May 2018

First National Bank has been offering credit cards for nearly 50 years and is able to assist clients with understanding how to manage credit. Here we will have a look at a First National Bank credit card.

Credit card holders are charged an interest rate to borrow money. All FNB customers get a personalized interest rate, which is calculated on each individual’s credit rating and affordability. If you pay off your full balance each month, you will avoid paying interest on your credit card purchases.

FNB offers five payment options to assist clients in paying their credit card payments:

  • Pay monthly fixed amount (cannot be less than the minimum amount owing)
  • Percentage of the balance (any amount from 5% – 100%)
  • Pay minimum 5% payment – pay only the minimum amount outstanding
  • Also, pay full statement balance – settle the full amount outstanding
  • Pay full outstanding balance – settle the outstanding balance (including budget instalments) for the month

 

Managing debt is important to FNB and they suggest clients consider the following:

  • Have a conservative limit on your First National Bank credit card

 

First National Bank Credit CardEnsure your limit is not too high and that you will be able to afford to pay it back each month; high limits can tempt cardholders to make large purchases without thinking of the repayments. Cardholders are able to adjust their limits with the FNB banking app.

  • Don’t alter your spending behaviour

 

Don’t use credit just because you have it

  • Use the 55 days interest-free period

 

Pay the full amount within 55 days to avoid getting charged interest

  • Make use of the free budget facility

 

This facility is available for purchases over R200 and can be paid off over a 6 to 60 months.

  • Scrutinize your credit card statements

 

Get into the habit of looking over your statements so that you can identify any errors and also keep track of your spending habits.

FNB offers the following five credit cards:

Gold First National Bank Credit card

Monthly fee: R46

Annual income: R84000 – R299999

Premier Credit card

Monthly fee: R80

Annual income: R300000 – R749000

Private Clients Credit Card

Monthly fee: R180

Annual income: R750000 – R1500000

Private Wealth Credit Card

Monthly fee: from R425 depending on selected services

Annual income: RR1.5m or more

Petro Card 

Monthly fee: R34

Annual income: R80000 or more

eBucks Rewards Programme

FNB credit card holders qualify for membership of the eBucks rewards programme, with reward levels depending on your spend and how you bank – the more FNB products you use, the higher your rewards will be.

eBucks rewards can be earned through the following:

  • In-store and online shopping
  • Fuel purchases and uber usage
  • Checkers & Shoprite purchases
  • FNB connect contracts and airtime purchases
  • FNB life membership

 

eBucks have the following advantages:

  • Earn eBucks whenever using your qualifying FNB account
  • Spend eBucks on an extensive range of goods and services
  • Option to pay in full or part with eBucks
  • eBucks never expire

 

Discounts of up to 40% when spending eBucks at the eBucks shop or eBucks travel

All info was correct at time of publishing