Travelling abroad or purchasing staff from other countries could be almost impossible without the existence of MasterCard.
About – Mastercard
Imagine yourself having to carry large sums of cash on a holiday or a business trip to another country. It’s simply not easy, and there are so many risks. MasterCard is a well-known financial institution which has determined the way international transactions are done on this planet.
Working with a large number of local banks, the company has managed to activate credit cards for international use. Allowing our people to have financial freedom everywhere they go.
Our impact is seen with our logo on the teller machines, cash points, banks, till points and online portals. Thus MasterCard, we are there to connect the world financially.
WHAT DOES MASTERCARD DO?
MasterCard is an international financial institution which is headquartered in the United States of America. The company specialises in the provision of bank cards and international wire transfer service that connects a network of member banks to other members in every country on earth.
In simple terms, MasterCard provides a network for your bank cards to be able to perform transactions with other banks that use the same system in other countries.
The cards are smart banking cards which range from debit cards, credit cards, savings and current accounts cards. With MasterCard, you can now enjoy unlimited banking services despite where you are.
WHY HAVE A MASTERCARD CREDIT CARD?
A MasterCard credit card will unlock your opportunities and remove boundaries on your expeditions with the widest acceptance amongst all banking cards.
When you own a MasterCard credit card, it means wherever and whenever you go, you will not be deprived of financial services. The holder of a MasterCard credit card can withdraw cash anywhere, do transactions without fear of being denied on top of accessing a wide range of credit facilities.
Financial independence is when you can use your money almost everywhere and still be granted with credit services.
WHO ISSUE MASTERCARD CREDIT CARDS?
MasterCard is a large financial institution, and its size has grown to such an extent that if a banking institution does not connect to a MasterCard network, the institution will still be considered to be developing.
A vast number of banking institutions in South Africa issue MasterCard credit cards; doing your search is an easy one.
Most banks work in our network and so that means clients will be allowed to transact everywhere with their MasterCard.
WHAT DOES A MASTERCARD CREDIT CARD COST?
A MasterCard credit card works similar to any other credit card that you use for all your local banking activities. The costs of the cards will depend on the costs that your banker charges. A MasterCard credit card usually comes with initiation fees, and these are one-time charges concerning the issue of the card.
In addition to that, most MasterCard, credit card issuers will charge their clients a revolving service fee, at many times the service fees will be below R200 per month.
The card will allow applicants to go for 55 days of grace period where no interest charges are levied on the borrowed amounts. Clients will pay interests that are at all times below 10% per year when they fail to make full repayment during the grace period.
HOW IS THE MASTERCARD CREDIT CARD REPAYMENT?
Similar to other credit services that you access like personal loans and property finance, MasterCard credit cards are repaid for using a direct debit system.
Whenever your banker issues you with a MasterCard credit card, they will link it with a bank account where relevant payments will be deducted periodically to settle your credit card balances.
When you are abroad, your banker will need to convert your money into the relevant foreign currency, and this usually results in currency conversion charges.
When accessing a MasterCard credit card with a South African bank, applicants will need to be working residents who earn an income normally above R8 000 per month.
The applicants will also need to be adults who are above the age of 18 years, many bankers do not take applicants who are blacklisted for the credit cards.
When applicants meet the above, they will need to have certified copies of the following documents
- A South African national identity document
- A three months stamped bank statement
- Proof of residential address that is not older than three months
- Three latest pay slips from the current employer
HOW TO APPLY FOR A MASTERCARD CREDIT CARD?
The first step in making a MasterCard credit card application is to log onto the MasterCard website and choose a bank amongst the list of banking corporations that provide MasterCard credit cards in South Africa.
Applicants will be redirected to the websites of banking corporations where they will make applications by filling their information and requests before submitting the required documents.
After that, applicants will need to wait for consultants to call them with collection procedures. In this simple way, you can earn your finance freedom with MasterCard