FNB offers black credit cards, free airport lounge access to lower-income earners

As interest rates continue climbing and observers carefully watch banks' bad debt levels, FNB is going in the opposite direction and announced a series of initiatives to boost credit this week.

These include a new credit card for low-income earners, with a credit limit starting from R1 000 to help those not yet credit active build their credit record. The bank's middle-class offering also got a standalone low-cost credit card and access to the coveted black card for people who earn as little as R84 000 a year, or R7 000 a month.

Banks like Absa and TymeBank have had standalone credit card offerings for people earning as little as R4 000 and R3 000 per month, respectively.