Are you looking for the top 10 credit cards in Kenya? If yes, then you have clicked on the right article. Credit cards are an important part of our life. Many companies and shopping websites offer to get discounts and services on special credit cards. The days are gone when we have to use the currency notes. Now the time has been changed, and people prefer to use plastic cards.
There are several banks in Kenya, and each bank offers 2-3 types of Credit cards. Well, if you are confused about selecting the best credit card in Kenya, continue to read this article to get the summarized information about the top 10 credit cards in Kenya.
Top 10 credit cards in Kenya: Have a look at it
Equity Gold Credit Card
The first card on the list of Top 10 credit cards in Kenya is the Equity Gold Card, which is designed to provide a high spending limit and exclusive packages for high-income people. Some of the features include Visa brand worldwide acceptance, revolving credit with 45 days interest-free period, pay up to 20% of your arrears each month or as much as you want, SMS alerts when you make a transaction, and more.
Additionally, the Equity Classic Card is also designed so that middle-income earners can get the credit they want. The chip and PIN feature of the card means that security is enhanced during the transaction. Your information will be stored on the chip when your transaction confirms your PIN. This card is accepted at all Visa-branded outlets worldwide.
There is zero transaction fee when you pay for goods or services at merchant stores. It also allows you to withdraw money from ATMs. All your transaction details will be received via SMS notification each time when a transaction takes place. This card works with Revolving Credit for an interest-free period of 45 days, plus an additional 20% for arrears and more.
They keep the monthly statements intact, which gives you transaction breaks and their affiliate times. The Gold Card gives you and your family access to affordable life insurance. It is useful in emergencies. One can buy large ticket items by using this card.
With this card, you have the freedom to travel without physical money. The card is useful for corporate expenses. It provides security when making large purchases because you do not have the money physically. The revolving credit feature determines the amount of credit you can use for that month.
You have the option of paying the outstanding amount in a lump sum or extending it for a fixed period. As you spend, the amount of credit available decreases.
KCB Platinum Visa Card
KCB has its credit cards, including the Classic Visa Card, the Gold Visa Card, and the Platinum Visa Card, which are at the top of the network. Their advantages are similar, but the only difference is the limit that each card can have. Some benefits are 45 days interest-free period for purchases, better payment option, global card acceptance, and no entry fee.
The cards are available to salaried individuals and sole proprietors. You will need to produce a copy of your National ID or Passport for a salaried person, along with your salary slip and bank statement from the grace period of 3 months.
For business persons, in addition to the national ID, you will need to submit your business registration form, bank statements from the grace period of 6 months, and a duly filled application form.
For payment customers, different cards have different requirements. To access the classic card, you must pay at least Kes 20,000, for Gold Card Kes 200,000, and Platinum Card Kes 300,000. There might be some additional fees for the card.
Standard Chartered Platinum Card
Of all the sample cards, the range of standard chartered cards for purchases, travel, and more is even more diverse. Their Platinum card has a reward program that allows you to earn reward points when you use your card to pay for shopping, entertainment, travel, online purchases, or utility bills.
You will be automatically added to the program, and no entry forms or fees are required. You get a 5% cashback every time you use your standard chartered Platinum credit card to pay for meal and fuel bills.
Most impressive is the credit life insurance that the card offers. It is a mandatory insurance plan to cover the setbacks caused by chronic illness, injury, or death—up to 80 cents per KES 1,000 of your card balance, which protects you from life uncertainties.
Credit life insurance rates appear in your monthly credit card statement under the particular heading “Credit Life Insurance Charge.” It provides relief of arrears in the unfortunate event of permanent disability or death, including arrears in your standard chartered Platinum credit card account and arrears on all your credit cards, which will be waived for no apparent reason.
Their interest-free days are also 50 compared to other companies that offer a 45-day window. Most of these benefits also apply to Gold Card members.
I&M Visa Infinite Credit Cards
I&M Bank launched their I&M Visa Platinum Debit and Credit Cards for Premium Clients in Kenya. They partnered with Visa. The two cards were developed to meet customer needs and complement I & M Bank’s efforts to increase customer focus, mobility, and innovation in line with the bank’s corporate strategy known as EMARA.
As mentioned in previous cards, it has some similar benefits but some important ones are also there. For example, they have our emergency assistance, where if you lose your card, Visa can block your account, send the card instead and make an emergency payment.
They have comprehensive travel insurance with significant benefits when you buy travel tickets or make hotel reservations with the card. Under Visa Multi-Trip Travel Insurance’s terms and conditions, you and your travel companions may qualify for up to $ 1 million in emergency medical expenses.
Both cards offer benefits such as travel such as Visa Global Emergency Assistance, which allows you to lock your account, make instant payment and return the card when your card is lost.
Besides, Infinite Credit Card, a premium card product from Visa International, offers I&M Bank cardholders comprehensive travel insurance, lifestyle benefits such as Consortium Services, and more than 800 LoungeKey on airports.
Both cards also offer shopping incentives on exclusive Visa offers and promotions, acceptance at more than 20 million businesses worldwide, and digital access to card incentives.
Customers of both cards will be able to get better security from the I&M SafeCard app and other benefits from I&M Bank, allowing users to unblock and block their cards from their phones at any time.
Barclays Signature Visa Card
The Barclays Signature Visa card is the last, along with the Timiza credit products launched by Barclays Bank a few days ago. Launched for the first time in Africa, this credit card is designed to cater to the high-achieving customers who are the cream of the continent.
Some of the card’s benefits from Concern are available 24X7 to ensure cardholders’ personal and business travel needs. For example, it allows customers to book restaurants for their convenience, guarantee reservations and unlock dining experiences that are exceptionally available to Visa Signature Cardholders. It helps customers refer to book concerts, theater productions, and other entertainment in cities worldwide, including their hometown.
Additionally, purchases made with Visa Signature Cards are protected for up to one year from the date of purchase and are not covered by Visa Signature Purchase Coverage. Additionally, new items purchased with a Visa signature card can extend the repair period, extending the original manufacturer’s warranty to 24 months.
Stanbic Bank Gold Credit Card
Stanbic Bank is a reputed bank in Kenya. They offer Gold Credit Card, and the impressive thing about this credit card is that they offer 55 days limit to pay the bills, and there will be no interest till 55 days. It is a chip and pin enabled credit card. Users will get automatic SMS alerts when they use this credit card.
You will get instant access to credit, and you will get supplementary cards at 0 extra costs. Over more than 20 million merchants and ATMs are installed worldwide. They offer free card replacement for the old cad damaged. They provide fraud protection against lost card if you inform the bank in time.
You don’t need to pay any joining fee, and you can also get money from ATM. It offers exceptional facilities like users will get great offers at Airport lounges, emirates airlines and many more. It has a 3D secure verification protection for safe online shopping.
You can pay the bills of these credit cards using various modes like mobile or internet banking. You can also change your credit limit at any time. You have to pay a 3.3% minimum monthly payment on this credit card. And there is Kes. 4000 annual fees that you have to pay.
CBA Platinum Credit Card
The Commercial Bank of Africa offers two types of credit cards; Visa credit card and Platinum Credit card. Among these, Platinum Credit cards supreme features. If you have this credit card, you will be entitled to CBA’s ‘invitation-only’ events and experiences. You can now go for sports, fashion, fine dining, and art events and elevate your life standard.
You will get a complimentary membership to the Elite Priority Pass Programs, and it has its benefits. You will also qualify for a short-term protection plan against theft, loss, or damage. During this period, you don’t have to pay extra for a new credit card.
To purchase this credit card, your income should be a minimum of Kes 400,000. There are no joining fees for opting for this card. However, the annual fees are Kes 7000. You will be charged 5% interest on the amount above Kes 2500 if you couldn’t pay in the defined time limit. The cash advance fees are 6% of the total withdrawn amount, or Kes 200.
The monthly interest rate is about 3.5%. The supplementary card annual fee is nil for the first 5 cards, and then you will be charged Kes 2000. For international travelers, they offer spectacular deals on credit cards.
NIC Credit Cards
The NIC bank of Kenya offers two types of credit cards. The one is NIC Gold Credit Card, and the other one is NIC freedom Credit Card. Gold Credit card is suitable for people who need to make substantial financial transactions in the month. They will also get some preferential services. The Gold Credit Card limit is Kes 2,00,000 to Kes 1,000,000.
The NIC Freedom Card is advanced and suitable for people who need easy and convenient settlement for their daily financial transactions. This credit card gives you flexibility, easefulness, and security. You can set the card limit to as low as Kes 20,000. This credit card helps you control your monthly expenses and maintains your lifestyle to a particular standard.
The NIC Credit Cards provide competitive interest rates, which are 3.25% and 3% for freedom and Gold Credit Cards, respectively. These credit cards offer you the capability and convenience to check your credit balance using the NIC ATMs. There are no hidden charges for these credit cards except the interest.
Customers will receive the credit bill statement every month, and the details of the money owed will be mentioned in this bill. There is also the amount to be paid and the deadline mentioned in this bill.
They offer various modes for the payments like you can pay cash at the NIC Bank ATMs, cheques at the NIC bank ATMs, through Direct Debits, and transfer money through net banking.
Gold Visa Card by Co-operative bank
Gold Visa Credit Card is one of the top 10 credit cards in Kenya. It is a premium credit card by Co-operative bank, Kenya. It provides excellent flexibility to people and helps them to stretch their expanses to certain limits. This credit card comes with some notable benefits.
There is no joining fee for this card. The bank will send you free monthly email statements, and you will get free access to the bank’s 24-hour customer helpline. You cannot have to pay any interest for 50 days. They give you a choice to pay the full amount or pay only 10% of the billing amount and roll over it next month.
You will get special discounts with specific hotels, hospitals, and airlines. The Gold visa cardholders will get an extra 15% discount over 55,000 hotels worldwide, including some small boutique properties to 5-star hotels from 130 countries. There are more than 24 million places to use this credit card.
You can use online modes for payment settlements. Customers can also withdraw up to Kes 50,000 in cash per month from the ATMs using this credit card.
Visa Classic Credit Card by National Bank of Kenya
National bank of Kenya provides three kinds of Credit cards: Visa Classic Card, Visa Gold Card, and Visa Platinum Card. Among these cards, the Gold card is for the people who have to travel a lot in various counties, and the platinum card is for the industrialists with substantial money.
The Visa Classic Credit Card is for people who don’t need a large sum of money. This Visa Classic Credit Card is the most suitable for people who want credit cards for their monthly expenses like fuel, bills, and shopping.
They offer this credit card to both customers and non-customers. For this, you need to sign up for a Visa Classic Card, and you don’t need to open a National Bank account. There are no extra charges for making any payments through this credit card. You need to have a monthly minimum of Kes 1,50,000 turnover to buy this credit card if you own a business.
If you are doing a job, your net salary should be equal to or above Kes 20,000. The card limit can be set between Kes 30000 to 199999. If you couldn’t pay the due amount in the interest-free period, you have to bear 3.5% interest on the total amount due.
The interest on the cash withdrawn is 5%. If you don’t wish to pay the full bill, you can pay 10% of the total billed amount and roll it over in the next month. The customers have to pay Kes 2500 annual fees.
Conclusion
Credit cards have now become a necessity. You will get many additional benefits and perks by using a credit card. These are the top 10 credit cards in Kenya. I hope this article helps you to find the most appropriate credit card for you.
This information can be varied according to the policies of the banks. For the latest and updated information, you should visit the official website of the respective bank. Comment below if you have any questions, and we are open to your suggestions. Mention your suggestions in the comment box below.
