Using your credit limit

Your account credit limit

Your account credit limit may be used for either a revolving credit or budget facility. You choose how to use your account credit limit. If your account exceeds the account credit limit you will be charged an overlimit fee.

Revolving/straight facility

The revolving facility is the straight or normal facility available on your card. This facility is available immediately when you receive your card.

For example, if the limit is R1 000 and you use your card to buy goods worth R700, you will still have R300 credit. If you then pay R500 into your card account, your available credit becomes R800 (R300 plus R500).

  • You can check your card balance at any time at any ATM or through Standard Bank Internet Banking.
  • You may withdraw cash on your revolving facility, however, interest accumulates on a daily basis from the day of the withdrawal until the amount is settled in full.

Budget facility

The budget facility is used for purchases and cash advances of R200 or more, that can be repaid over 6 to 60 months.

  • You can buy as many items as you wish on your budget facility, as long you have credit available on your account.
  • The only transactions that cannot be made with your budget facility are purchases of traveller's cheques and foreign currency, progressive payments such as bond instalments, petrol purchases and electronic account payments.
  • Budget instalments must be made in full each month. To make it easy for you to manage, the amount is included in the minimum payment due so that you don't have to worry about making additional payments into your budget facility.
  • Budget purchases are subject to interest from the date of the purchase.
  • Purchases on your budget facility are detailed separately on your monthly statements.

Increasing your account credit limit

You may apply for an increase after six months.

  • Any increase will be based on your card account and other Standard Bank accounts history.
  • To apply for an increase, call us on 0861 201 000.

Temporary limit increase

  • If you need a higher credit limit for a specific period, you may apply for a temporary increase. The limit will revert to its original level at the end of the specified period.
  • To apply for a temporary increase, call us on 0861 201 000.

Clearance period

  • Cash and cheque payments that exceed your credit limit are subject to a 10-day clearance period for security reasons.
  • This clearance period does not apply to funds that are transferred electronically.

Paying your account

  • When you receive your credit card statement, you will see that it shows the minimum payment amount as well as the date on which it is due.
  • The minimum payment is 5% of the outstanding balance or R25, whichever is greater, plus any budget instalments (with the exception of the MasterCard Blue Online (Unembossed) credit card, where the minimum payment is 10% of the outstanding balance or R100, whichever is the greater, plus any budget instalments).
  • If your minimum monthly payment is not made on time, you will be charged a late payment fee

Card statements

Your credit card statement will show:

  • Revolving credit limit
  • Budget credit limit
  • Available credit revolving
  • Available credit budget
  • Revolving credit balance
  • Budget credit balance
  • Minimum payment and due date
  • Account credit limit
  • Account available credit
  • Account balance (straight and budget balances)
  • Minimum payment and due date
  • Interest rate details



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