The RCS Card is a store credit card that can be used in more than 30 000 South African stores and requires a once off initiation fee of R150.00. The credit card provides a revolving credit facility ranging from R750.00 to R50,000.00. An administration fee of 10% charged, with a maximum of R1,207.00. The credit card company charges an annual interest rate of up to 24.50%.
The RCS card allows for up to 55 days of interest-free credit. When using their credit card, cardholders have a variety of payment options. Revolving, 24 or 36-month budget plans are available for the RCS card. Repayment options are available for purchases of R600.00 or more.
It is important to understand the distinction between RCS Credit Card and RCS Loan:
The RCS Store Credit Card is a standard credit card, whereas the RCS Loan is a personal loan facility ranging from R2,000.00 to R150,000.00 and it is available to South Africans over the age of 18 who earn R2,000.00 per month or more. The RCS Loan Application can be completed online at the company’s website or by phone call on 0861 729 727.
An RCS credit card is a store credit card that is issued by some network stores. RCS issues credit cards, which are not branded and only bear the RCS logo. However, if issued through a network store, such as Makro, the credit card will include the Makro company logo and branding.
The credit card can be used to purchase goods or services from any network store. It is accepted in 30,000 stores across South Africa’s nine provinces. When applying for an RCS store credit card, one must select a budget plan that will determine how long it will take to repay the debt.
A budget plan can go as high as 36 months or as short as six months. A lower budget plan includes a low-interest rate that is payable because debt is settled in the shortest amount of time. The allocation of credit is determined by one’s income and credit score.
Those with a high income may be eligible for a credit of up to R50,000.00. The smallest amount of credit available is R750.00. Credit used on the RCS credit card comes with a 55-day interest-free grace period to encourage borrowers to pay off their debt in less than two months after using their credit.
Any RCS credit card holder with a credit facility can access cash. Cash can be obtained by dialing 0861 729 727. Another option is to use the self-service feature of the RCS mobile app and follow the step-by-step guide to apply for a cash advance.
To gain access to cash, you must be first assessed to see if you qualify for a cash advance. If you meet the criteria, money will be deposited into your account.
The following are the minimum requirements:
Cash advances are subject to stricter regulations. Cash advances are only permitted on certain repayment plans and are included in your monthly payments. Furthermore, from time to time, a minimum and/or maximum amount of borrowing may be imposed.
The RCS card can be applied for online at the RCS website or in any partner store. You must have the above-mentioned documents, have a good credit score and meet the minimum income requirement to be eligible for the RCS card.
Q1: What is an RCS credit card?
A1: The RCS credit card is a financial product offered by RCS, a South African-based consumer finance business. The card allows cardholders to make purchases at a variety of retailers and pay back the amount over a flexible repayment period, with additional benefits and features to enhance the shopping experience.
Q2: How do I apply for an RCS credit card?
A2: To apply for an RCS credit card, you can visit the RCS website and fill out the online application form. Alternatively, you can apply at any participating retail partner. You will need to provide your personal information, proof of income, and a copy of your ID during the application process.
Q3: What is the eligibility criteria for an RCS credit card?
A3: To be eligible for an RCS credit card, you must:
Q4: What is the credit limit on an RCS credit card?
A4: The credit limit on an RCS credit card varies depending on your financial situation and credit score. Credit limits can range from a few thousand Rand to over R100,000. RCS will determine your credit limit during the application process.
Q5: How long does it take to receive my RCS credit card after approval?
A5: Once your application has been approved, it typically takes between 7 to 14 business days to receive your RCS credit card. The card will be sent to the address provided during the application process.
Q6: Where can I use my RCS credit card?
A6: You can use your RCS credit card at over 26,000 retail stores nationwide that display the RCS logo. Some of these retailers include Game, Makro, and Builders Warehouse. You can find a list of participating retailers on the RCS website.
Q7: What are the interest rates and fees associated with an RCS credit card?
A7: The interest rates and fees for an RCS credit card may vary depending on your credit profile. Typical fees include a monthly service fee, an initiation fee, and interest rates that are in line with the National Credit Act. For up-to-date information on fees and interest rates, visit the RCS website or consult your card agreement.
Q8: How can I make payments on my RCS credit card?
A8: You can make payments on your RCS credit card through a variety of methods, including:
Q9: How can I check my RCS credit card balance?
A9: You can check your RCS credit card balance by:
Q10: What should I do if my RCS credit card is lost or stolen?
A10: If your RCS credit card is lost or stolen, immediately contact the RCS customer service helpline to report the incident and request a replacement card. They will guide you through the necessary steps to secure your account and prevent unauthorized transactions.
An RCS credit card provides users with a plethora of shopping options and can be used in a variety of ways. The card is an excellent choice for purchasing household items and retaining liquid funds throughout the month. Inability to use credit wisely may result in users becoming over-indebted. Always use your credit card wisely and think before you spend.
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