The RCS credit card is an excellent tool for managing your finances while enjoying the flexibility of credit.
It offers a generous credit limit of up to R50,000, and the best part is, it’s accepted at over 30,000 stores across South Africa.
From buying household essentials to covering unexpected expenses, this card has got you covered.
To qualify for the RCS Credit Card, you need a monthly income of at least R3,000 and a decent credit score.
What Does the RCS Credit Card Cost?
Like any credit product, there are a few costs to keep in mind:
- Initiation Fee: R150, charged when you first get the card.
- Monthly Service Fee: R69, which covers the cost of maintaining your account.
- Insurance: R4.50 for every R1,000 on your credit balance to ensure you’re protected.
- Annual Interest Rate: It can go up to 24.50%, depending on your repayment plan and credit score.
- Interest-Free Period: You get up to 55 days of interest-free shopping if you pay off your balance in full each month.
RCS Credit Card Repayment Options
When it comes to repayments, the RCS Credit Card offers plenty of flexibility. You can choose from various budget plans tailored to your financial needs.
Whether you prefer revolving credit with changing monthly payments or fixed repayments over a set period, there’s something for everyone:
- Budget Plans: Options of 6, 12, 18, 24, and 36 months.
- Revolving Credit: Perfect for managing payments as your financial situation changes.
- Fixed Repayments: Ideal if you prefer predictable payments.
How the RCS Credit Card Works
The RCS Credit Card can be used at any of its partner stores, and some of them even have custom-branded cards, such as Makro.
You get to choose a budget plan that determines how long you’ll have to repay your balance. Plus, with the 55-day interest-free period, it’s easy to stay on top of your debt.
The credit card limit starts from R750 and goes up to R50,000 based on your income and credit score.
The more responsible you are with your spending, the better the chances of a credit increase over time.
Cash Advance
Need access to quick cash?
You can easily get a cash advance using the RCS mobile app or by calling their customer service.
The cash is deposited directly into your bank account, provided your credit account is in good standing.
- Eligibility: Your account needs to be active for at least three months, and you must not be in arrears.
- Repayment: Cash advances are subject to the same repayment plans as your credit card purchases.
Advantages
- Widely Accepted: The RCS Credit Card is accepted at thousands of stores, making it versatile.
- Convenient Payments: You can use it for online and in-store purchases.
- Flexible Credit: Your available credit increases as you use the card and your income grows.
- Easy to Apply: The credit card application process is straightforward and can be done online or in-store.
Disadvantages
- High-Interest Rates: If you don’t manage your payments, the interest can accumulate quickly, especially on large balances.
- No Rewards Program: Unlike many other cards, there are no rewards or points to earn.
- Less Security: The card doesn’t offer the same level of protection as other credit cards. Some stores don’t require a PIN for purchases.
Application Requirements
To apply for an RCS Credit Card, you’ll need the following:
- Be at least 18 years old.
- Have a valid South African ID or driver’s license.
- Show proof of income dated within the last three months.
- Earn a minimum of R3,000 per month.
- Provide proof of residence.
You can apply online via the RCS website or at any participating store, making the credit card application process quick and easy. Just remember, a good credit score is essential to get approved.
Where Can You It?
The RCS Credit Card is accepted at over 30,000 stores nationwide, including popular retailers like:
- American Swiss
- Game
- Pick n Pay
- Checkers
- Makro
You can also use it at Engen and Shell petrol stations for added convenience.
Takeaway
This card provides a convenient and flexible way to handle your day-to-day expenses.
With plenty of repayment options and the ability to access cash when needed, it’s a solid option for managing your finances.
However, be cautious of high-interest rates and always use your credit wisely.
Keep an eye on your spending to avoid becoming over-indebted, and remember, a credit increase can work in your favor if used responsibly.
Frequently Asked Questions
1. How do I apply for this card?
You can apply online via the RCS website or at any participating store. To qualify, you need a valid South African ID, proof of income, and a minimum salary of R3,000 per month.
2. How much credit can I get?
Credit limits range from R750 to R50,000 depending on your income and credit score.
3. Can I increase my credit limit?
Yes, your credit limit can increase over time based on your usage and income. RCS regularly reviews your account to offer a credit increase when you qualify.
4. Where can I use it?
The RCS Credit Card is accepted at over 30,000 stores across South Africa, including popular retailers like Game, Makro, Pick n Pay, and Checkers.
5. What are the costs associated with this card?
The initiation fee is R150, with a monthly service fee of R69. The annual interest rate can go up to 24.50%, and there’s an optional insurance fee of R4.50 per R1,000 owed.
6. How does the 55-day interest-free period work?
You won’t be charged any interest if you pay off your balance in full within 55 days. This is a great way to avoid accumulating debt.