Digital bank TymeBank has launched its first credit card as part of a growing push to attract more middle-income customers.
The Visa credit card is being offered in partnership with RCS and is part of the bank’s intent to diversify its customer profile, said TymeBank chief executive Tauriq Keraan.
“The card has been in the pipeline for some time, but we thought long and hard about timing, particularly given the challenging consumer environment. That said, a credit card is a secure, convenient method of payment that can add value to your budget and lifestyle, provided it is used responsibly,” he said.
Keraan said TymeBank will ensure cardholders are armed with all the information they need to get the best out of their credit card while managing their debt.
How to qualify
To qualify for a TymeBank CreditCard, applicants must be 18 years or older, employed and earn R3,000 or more per month.
They also need to have a valid South African ID or driver’s licence as well as a South African bank account. TymeBank said the tap-and-go credit card can be used to make online and point of sale purchases both locally and internationally at over 29 million merchants worldwide.
Cardholders earn Pick n Pay Smart Shopper points everywhere they use their TymeBank CreditCard (instore or online) and points are automatically loaded onto their Smart Shopper profile.
Using the card at Pick n Pay stores will allow cardholders to double their Smart Shopper earn. Customers who sign up successfully before 30 April 2022 will enjoy an exclusive launch offer, which will see them earn up to four times Smart Shopper points during that period when they swipe and pay at Pick n Pay.
Other features and benefits include:
- Free SMS notifications for extra security
- Free delivery of the first card via courier
- Cardholders can get up to three additional cards for family members
- Up to 55 days interest-free credit if the full amount owed is paid on time every month.
You can find out more about the card here.