A credit card is a payment card that provides access to extra cash in the form of credit that is to be repaid with interest within a defined duration.
These cards are usually beneficial during emergencies as well as provide a sense of financial freedom through benefits and other rewards.
Despite the benefits above, before applying for a credit card, it is usually important to settle for a card that suits one’s lifestyle by taking into consideration the fees associated with the card.
For example, credit cards with zero annual fees are great for emergencies and online purchases while those with charges offer additional benefits that the former do not.
Other crucial areas to look out for are the interest rates connected to a particular card whereby it is advisable to make repayments before each due date so as to maintain an interest-free credit.
With the above in mind, making the right decision on a particular credit card should be a breeze.
In Kenya, there are more than 40 financial institutions that offer credit cards and in this article, we aim to focus on credit card options from Absa bank Kenya.
In total, Absa Kenya has 5 categories of credit cards to choose from which include;
- Signature card– this card offers a 3% cashback for international, 2% cashback for local purchases and has an annual fee of Ksh8,000 and is targeted to individuals with a net salary of Ksh500,000 and above.
- Platinum card– this card offers 2% cashback for both local and international purchases and requires an annual fee of Ksh8,000 reserved for earners of Ksh200,000 and above.
- Gold card– this card offers a 1% cashback on all purchases and charges an annual fee of ksh6,000 for individuals with a net salary of Ksh50,000 and above.
- Classic reward card– this card offers 0.5% cashback on all purchases and has an annual fee of Ksh3,000 and is for people earning a net salary of between Ksh20,000 to Ksh40,000.
- Classic card– this card offers 20% exclusive discounts at select local outlets and has zero annual fees and is for individuals with a net salary of between Ksh20,000 to Ksh40,000.
How To Pay ABSA Credit Card Via MPESA
To make repayments on your Absa credit card via Mpesa, you simply need to;
- Go to Lipa Na Mpesa
- Choose paybill and enter the business number 303030
- Enter the card number as the account number