Best Credit Cards In Kenya[Must have in 2022]
Discover the best credit card options in Kenya!
Credit cards are an essential part of modern life. They allow people to buy things without carrying large amounts of cash around. But many different types of credit cards are available, each with its advantages and disadvantages.
What is Credit Card
Credit card fee disclosure is an annual statement that shows how much interest and other fees will be charged on your balance. It's required by law for any company that offers credit cards. You'll find it at the bottom of your monthly statements.
Below is a step-by-step procedure to help you obtain the best Credit cards in Kenya. Keep reading to the end to understand what works for you and doesn't.
Find out which cards offer the most reward points
If you're looking for a credit card that offers the most rewards points, then you should consider applying for one of the following cards in Kenya:
With the Standard Visa Infinite card, you will enjoy the following:
Priority Access to 900+ Airport Lounges worldwide
- A reward with 5% Cash Back Every time you use your Infinite Credit Card to pay for your Bills
- Play Golf at Nairobi's prestigious Karen Country club for free
- Complimentary Travel Insurance
- 24-hour personal assistant to help you with your account
- Purchase protection for one year for every product your purchase with your card
- 15% discount from Standard Chartered merchants in Kenya
- motor insurance cover in case of a collision
- Collision Damage Waiver
- Free Lost Card Cover
Like Standard chartered bank, KCB also offers you a credit card. There is a classic Visa card, Gold Visa card, and Gold MasterCard. It is the latter that has enticing benefits. The application procedure will require you to produce your ID, KRA PIN, and Bank statements for the last 6 months with an average turnover between Kes. 50,000 and Kes. 199,999 and the latest pay slip minimum net salary of between Kes. 50,000 and Kes. 199,99 to enjoy the following benefits:
- 45 days free interest period
- Flexible repayment options of between 10% to 100% of the Outstanding Balance
- Free discounts for every purchase you make at 200+ KCB partner merchants
- Automatic membership to the Visa business clubs
KCB Group manages the National Bank of Kenya(NBK). The financial institution has 3 Credit Cards (Visa Classic Card, Visa Platinum card, and Visa Gold Card). Out of the three, the Gold version has a couple of exciting benefits, such as:
- Global Emergency Assistance
- Travel Assistance
- Global ATM Network
I&M Bank offers credit cards(Visa Infinite Credit Card, Visa International Gold Credit Card, and Visa Classic Credit Card. The Infinite Credit Card provides you with Unlimited Advantages as suggested down below:
- Free unlimited airport lounge access at more than 800 LoungeKey lounges globally
- Access to comprehensive travel insurance benefits when you purchase travel tickets or make hotel reservations
- Access to Lifestyle Concierge Services such as Flight, Hotel, Restaurant, Car rental reservations, and Many more
- Purchase Protection or stolen or damaged goods purchased
- Global Emergency Assistance
- Travel Insurance(up to $1 million) in Emergency Medical expenses cover
- Access to over 1.9 million Visa ATMs worldwide in 180 countries.
Equity Bank offers American Express (Amex) Credit Cards, Equity Gold Credit Card, and Equity Classic Credit Card. All the credit cards allow you to access money from your bank account instantly, making seamless payments for products and services smooth and seamless. However, the Gold Credit Card stands out because of the following reasons:
- The card has a chip and Pin, which provides you with security during transactions
- Access to all Visa agents Globally
- Free Transactions while paring for products at Equities merchants
- Withdraw money from an ATM.
- Access to a 45-day interest-free period
- Access to affordable life insurance for you and your family.
NCBA Bank of Kenya also offers 3 credit cards. These include an Infinite Credit card with a limit of up to 5,000,000, a Signature Credit Card with a limit of up to 3,000,000, and finally, a Platinum Credit Card with a limit of KES 600,00 to 1,500,00. In our case, we will focus on the first, Infinite Credit Card, which offers the following benefits:
- Unlimited Airport Lounge Access
- 24-hour personal assistant to take care of your needs.
- Multi-Trip Travel Insurance for you and your family
- Emergency medical insurance of up to $2.5 million
- Access to Visa Luxury Hotels such as Hotel Group, Park Hyatt Hotels, Amani Resorts, and Six Senses Hotels Resorts.
- Purchase Protection for one year for theft and accidental damage.
- Balance Transfer into your new credit card
- Enhanced security for online transactions through One-time Passwords, Pin and Chip technology
- Access to monthly e-statements.
Stanbic Bank is one of the Respectable Financial organizations in the country. Like the rest in this category, the firms allow their members to access their credit cards: Gold and silver. Gold Credit Card gives you access to the following:
- Access to 55 days of interest-free
- Access to Chip and Pin enabled cards
- instant access to credit
- Access to over 20 million merchants and ATMs worldwide
- Free card replacement if misplaced
- Fraud protection against lost cards once the bank has been informed
- Access to a Low cash advance fee at the ATM
- Access to Low annual fee
- Access to offers with Lounge Key airport lounges, Emirates Airline, and so much more
Compare rates and fees.
You should also compare interest rates and fees when choosing a credit card. Fees can add up quickly, so make sure you choose a card with low annual fees. Also, check out how much cash back each card gives you. This will help you decide whether you need a card at all.
Check customer service.
Customer service is an essential part of any business. It's especially important when you're dealing with customers who spend money every day. If you find yourself having trouble with a credit card company, contact them directly. They'll usually respond within 24 hours.
Review your current card.
You should review your current credit card before making changes. This will help you avoid getting stuck with a bad deal. Make sure you understand how much interest you'll pay each month, as well as what fees you'll incur.
Apply online or at an ATM.
If you're looking to apply for a new credit card, you might consider applying online instead of visiting a branch location. Online applications typically take less than five minutes to complete, and you can save money by avoiding the cost of traveling to a bank. However, make sure you read the fine print carefully before signing up for any credit cards.
Advantages of a Credit Card
If you're not sure whether a particular credit card is right for you, consider these advantages of using a credit card instead of cash:
1) No need to carry large amounts of cash with you.
2) You can use a credit card to make purchases online without entering your identification number (PIN).
3) You can pay off your entire bill each month.
Disadvantages of a credit card
However, there are some disadvantages to using credit cards as well.
4) Interest charges can add up quickly.
5) There's no guarantee that you'll be able to pay off your monthly balance.
6) You might find yourself spending more money than you planned.
7) It's easy to spend too much using a credit card.
8) You might lose control of how much you spend.
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