The Equity Gold Credit is available to high-income earners to help increase their purchasing power. You can get this credit card for personal or business use.
The credit limit is set by the bank depending on your income and history. You can apply for this card if you are an existing Equity bank holder with another credit card or if you can give cash to the bank as security.
Who Qualifies for the Equity Gold Credit Card?
High-income Individual
to qualify for the Equity Gold Credit Card you need to prove that you are a high-income individual. currently, anyone with a monthly income of more than Ksh 75,000 per month can get the card.
Income History
it is important to show that you have a stable income history. You can prove a stable income history by showing employment or proof of business. The income history is a guarantee that you will be able to pay for the credit card.
Creditworthiness
You need to have a good credit rating to get this card. They will check your CRB report to make sure that you are not listed for defaulting. Depending on your credit rating, you will receive a credit limit.
Existing Account Holder
It is important to be an existing account holder to get the gold card. Sometimes the bank rewards loyal customers with a gold card.
Benefits of Getting the Equity Gold Credit Card
Travel Benefits
If you are a regular traveler, this card allows you to pay hotel bills and book flights without having money with you. It is also accepted all over the world in outlets where visa cards are accepted.
Easy Purchasing
On instances when you do not have money with you or in case of an emergency, you can make even big purchases with the card as long as you pay later.
Proper Finance Tracking
If you have problems with finance tracking, this card can be a lifesaver. It will help you know how much you are spending and where your money goes. every month you get a statement with all the monthly activities.
Flexible Payment
With the gold card, you have 45 days interest-free period. You are also allowed to pay 20% of the outside balance every month without incurring any additional fees.
Get Amazing Discounts
The card allows you to get discounts every time you shop at Visa outlets. You can also get amazing discounts when you buy insurance for your family.
Secure to Use
The card is secure to use. When performing purchases, you have to use a pin that is stored in a chip. No one can use the card with a pin.
How to Get an Equity Gold Credit Card
Make Sure that You Meet the Eligibility Criteria
You need to meet the eligibility criteria described above to get the card. If you do not meet all the qualifications you might qualify for a lower credit card
Fill Out the Application Form
Once you meet the criteria, it is time to start the process of getting your card. You need to get the card from an equity bank branch or download it on the website. Make sure that you correctly fill it out and review it.
Submit the Application
Once all the information is filled in, you need to submit the form to your nearest equity bank branch
Wait for Verification
It will take some time for the information provided to be verified and for the bank to confirm that you meet all the qualification criteria.
Issuing of the Card
If all goes well and you meet the qualification and verification process, you will get the card. You can collect the card at the equity bank branch where you made the application.
FAQ
What are the fees for running an Equity Gold Credit Card?
The card has a joining fee of Ksh 7500 and an annual fee of Ksh 4500.
You also have to pay a monthly interest of 1.5%, a cash advance of 6%, and a late payment of 6%
In case of loss, you pay Ksh 1500 and you can get a supplementary card at Ksh 3500
