South Africa Credit Cards
The South Africa has a population of around 49 million people with a large number of debit and credit card holders. As there were around 28 million debit cards in November and around 8 million credit cards in South Africa.
The South Africa has a large number of credit card frauds. According to a report by the South Africa Banking Risk Information Center, the credit card frauds has reached to US$51 million that is 146% increase in the last few years. There are many reports of stealing information from the customer in the restaurants of South Africa. People living in the US says that they received calls from their respective banks, which telling them that their credit cards have been used in the South Africa.
Because of such credit card frauds, the government of the South Africa is looking forward to solutions. The credit cards have a magnetic strip that contains the signature of the cardholder. Since stealing the person’s information is becoming common, researchers are looking forward to microchip technology for credit cards in South Africa.
Other beneficial steps include the National Credit Act that was introduced in June 2007 for a more transparent and secure way to use South Africa credit cards.
Types of Credit Cards
There are many types of South Africa credit cards that are designed for its people, which is more convenient that suits the life of its people.
Such as the Garage credit card is very popular in South Africa. It is used to pay for fuel, repairs, parts and services.
Student credit cards are widely used by students, which have a lower credit limit and they are used for high schools and colleges and it is easier to check the spending.
Other popular South Africa credit card includes the Business credit card that is especially designed for small and large businesses. It has a higher limit of credit card and it keeps a record of money transactions. It also allows spending some extra credit on business travel for employees.
First National Bank
When talking about the South Africa credit cards, the FNB South Africa is very prominent. It offers numerous services such as debit cards, insurances and credit cards.
It also offers different types of South African credit cards such as the Smart credit cards that offer a period of 44 days interest free. It comes with the power of Visa that allows the cardholder to use it world wide and of course online. It can also be used to withdraw money from more than 2 million ATMs. Such South Africa credit cards are among the widely used in the country.