RCS Credit Card
Posted in: Finance, Money

RCS Credit Card

Written by Xavier

The RCS credit card offers a convenient and flexible credit solution for South Africans, providing access to a wide range of stores and services.

Whether you’re purchasing household goods or paying for everyday essentials, this card is widely accepted at over 30,000 stores across the country.

To qualify for the this offering, you need to meet specific income and credit score requirements, but the good news is that the process is simple.

About the Credit Card

If you’re thinking about applying for this offer, here’s a breakdown of what you should expect:

  • Credit limit: You can get a credit limit of up to R50,000 based on your income and credit score.
  • Qualifying criteria: You must earn at least R3,000 per month and have a favorable credit score to qualify.
  • Application process: The credit card application can be completed online or at any partner store, making it convenient and easy to apply.
  • Costs: The initiation fee is R150, with a monthly service fee of R69. Additionally, there’s an insurance charge of R4.50 per R1,000.
  • Interest rate: The interest rate can be as high as 24.50%, but the great part is that you get up to 55 days of interest-free shopping!

Flexible Repayment Options

One of the best features of this card is its repayment flexibility. You can choose from various budget plans that suit your financial situation:

  • Revolving repayment: With this option, you can adjust your payments based on your circumstances.
  • Fixed repayment: This provides stability with consistent monthly payments. You can select repayment terms ranging from 6 to 36 months.

Cash Advances Made Easy

Need cash?

This finance flexibility allows you to access cash quickly through the RCS app or by contacting customer service.

However, to qualify for a cash advance, you need to have an active account for at least three months, and your account shouldn’t be in arrears.

This is a great feature if you need cash for emergencies or unexpected expenses.

Pros and Cons

Pros:

  • Accepted at a huge number of stores, over 30,000 across South Africa.
  • You can easily make credit card applications online or in-store.
  • Flexible repayment options to fit different financial situations.
  • Available cash advances, with minimal hassle through the RCS app.
  • Your credit increase grows as your usage and income increase.

Cons:

  • The interest rate can be high, reaching up to 24.50%.
  • There are no reward programs linked to the card.
  • The card might not offer the same level of security as others since no password is needed for in-store use.

Application Requirements

To apply for this card, you need:

  • To be 18 years or older.
  • A valid South African ID or driver’s license.
  • Proof of income, not older than 3 months.
  • Proof of residence, not older than 3 months.
  • A minimum monthly income of R3,000.

Where Can Your Card?

This card can be used at popular stores like Makro, Game, Builders, and even for services like FlySafair and Engen.

With such widespread acceptance, it’s an excellent option for those looking to manage their monthly purchases efficiently.

FAQs

1. How do I apply?

You can apply online through the RCS website or at any partner store.

Make sure you meet the income and credit score requirements, and have all necessary documents like proof of income, proof of residence, and a valid ID.

2. How does the RCS Credit Card work?

The RCS Credit Card can be used to make purchases at over 30,000 stores nationwide. It also offers budget plans with flexible repayment terms from 6 to 36 months.

3. Can I get a credit increase?

Yes, you can request a credit increase as your income and spending habits improve. You’ll need to contact RCS to see if you’re eligible.

4. What are the fees associated with this card?

There’s an initiation fee of R150, a monthly service fee of R69, and an interest rate that can go up to 24.50%. You’ll also be charged R4.50 per R1,000 for insurance.

5. Where can I use the RCS Credit Card?

The RCS Credit Card is accepted at over 30,000 stores, including Makro, Builders, and Engen petrol stations.

Takeaway

The RCS Credit Card is a convenient financial tool that can provide flexibility for those who manage their credit wisely.

It offers a generous credit limit, flexible repayment options, and access to a large network of retailers.

However, it’s crucial to be mindful of the high-interest rate and fees. Always spend wisely to avoid falling into unnecessary debt.

Back to Top