Discover the Steps to Apply for the Nedbank Small Business Credit Card
The Nedbank Small Business credit card offers enhanced convenience for overseeing your business accounts, ensuring both security and valuable perks;
Key Points to Consider Before Applying for the Nedbank Small Business Credit Card
The Nedbank Small Business Credit Card is designed for companies with an annual turnover starting at R150,000. It comes with a tailored limit, a rewarding Greenbacks program, and benefits for business networking.
Nedbank offers a variety of financial services tailored for both individuals and businesses. The Nedbank Small Business Credit Card is a prime example, catering to smaller enterprises that demonstrate some financial stability.
To start, this card can be issued under either the Mastercard or American Express brands, based on the company’s specific circumstances. Additionally, the monthly credit limit can be adjusted to suit your needs.
The fees associated with the Nedbank Small Business include a one-time initiation cost of R277 and a recurring monthly service fee of R57.
You can easily manage your finances with 24/7 digital banking through the Money app, allowing seamless access to banking services and account management, including the option to grant access to others.
This capability is crucial for maintaining effective account management and ensuring greater security and dependability for daily business operations.
When it comes to travel, the card offers a 5% discount on AVIS rates, up to four complimentary visits yearly to Bidvest lounges if you spend a minimum of R4,000, and basic travel insurance with an option to recharge. American Express holders benefit from double rewards in dollars.
If you’re interested in getting this card, keep reading for more information.
Eligibility Criteria for Applicants
To apply for the Nedbank card, you must fulfill both individual and business criteria.
The individual must be at least 18 years old and a resident of South Africa, whether as a citizen or foreign national, possessing a valid passport and work visa.
For the business, you should provide proof that it is established with an annual turnover starting at R150,000.
Having revenues significantly exceeding R400,000 may not be beneficial since this could qualify you for the Business Credit Card instead.
All applications for the card must undergo a review by Nedbank, particularly to confirm the company’s registration and operational status.
How to Apply for the Nedbank Small Business Credit Card
Nedbank’s online platform offers a detailed overview of this credit card.
Clicking on the ‘select credit card’ option will take you to another page showcasing the Small Business Benefits.
When you choose to start the application, the initial information required includes your SA ID number, primary phone number, and an optional email address. After this, you’ll need to provide further details about yourself and your business.
For personal identification, proof of identity is required, whether as a citizen or foreign national. For the business, you’ll need to share contact information and specifics, such as the service area, employee count, tax structure, annual revenue, and an expense report.
Throughout the application, you might need to submit documents like proof of residence, income statements, and tax filings. If you encounter any issues, don’t hesitate to reach out to Nedbank’s customer service.
It’s crucial to fill out all information accurately, even if it requires a bit of time to complete the forms.
Additional Information
The Nedbank card provides various reward opportunities, including a minimum monthly rebate of 5%, simplifying budgeting, and the ability to make full payments with up to 55 days interest-free.
Furthermore, to ease management, you can track the company’s finances and issue invoices using MoneyTracker.
Additionally, other perks include registration on BizPortal and SimpyBiz, which help in networking with fellow entrepreneurs.
The card serves as a vital resource for understanding daily business operations, along with services provided by Avo, a sales application.
Interested in Exploring More Options?
If you’re looking for an alternative credit card tailored for personal use, consider the amazing Capitec Bank Credit Card. It provides 1% cashback on smart purchases and comes with Prime interest rates.
This card has various criteria for individuals and self-employed individuals, along with appealing perks for different amounts, and you can find out how to apply.
