Seen Here: Thabiso Tshabalala, Credit Card Product Head at FNB, says responsible access to formal credit is about empowering customers with the knowledge, tools and transparency they need to build healthy financial habits. By lowering the Aspire Credit Card qualifying income threshold, FNB aims to expand financial inclusion while promoting informed borrowing and long-term financial wellbeing. Photo Credit: Supplied
JOHANNESBURG, South Africa – First National Bank (FNB) has taken another step towards broadening financial inclusion by lowering the minimum qualifying income required for its Aspire Credit Card from R5,000 to R3,500 per month, opening the door for more qualifying South Africans to access formal credit responsibly.
The move comes as many households continue to navigate rising living costs and increasing financial pressures, while also seeking opportunities to build healthy credit profiles that can unlock future access to vehicle finance, home loans and other financial products.
Importantly, FNB has stressed that the revised income threshold does not mean automatic approval. All applications will continue to undergo affordability and creditworthiness assessments in line with the National Credit Act, ensuring that lending remains responsible and sustainable.
Expanding access without compromising responsibility
According to Thabiso Tshabalala, Credit Card Product Head at FNB, the initiative is designed to provide qualifying customers with structured access to formal credit while equipping them with the tools and knowledge needed to manage it effectively.
“Access to formal credit can help build a financial profile, but responsible lending is about far more than approving applications. This is not about giving credit access to everyone,” Tshabalala said.
“It’s about ensuring customers enter credit in a way that is structured, transparent and supported with the information and tools they need to understand not only the benefits of credit, but also its costs and responsibilities.”
Supporting first-time borrowers
The revised qualification criteria form part of FNB’s broader financial inclusion strategy, aimed at customers who are entering the credit market for the first time, have limited credit histories or are rebuilding their financial standing after previous credit challenges.
By encouraging responsible borrowing, the bank hopes to reduce reliance on informal lending, which often carries higher risks and limited consumer protection.
Tshabalala emphasised that informed borrowing remains central to the bank’s approach.
“All applications remain subject to our affordability and credit assessments in line with the National Credit Act. Moreover, we are giving qualifying customers the information and tools they need to use credit confidently.”
Building healthy financial habits
The Aspire Credit Card has been designed to encourage disciplined financial management through a range of practical features, including:
- Clear visibility of repayments.
- In-app spending and credit tracking tools.
- Flexible repayment options.
- Structured credit limits based on affordability.
- Ongoing financial education and guidance.
These tools are intended to help customers understand how responsible repayment behaviour contributes to building a positive credit record over time.
Understanding the true cost of credit
FNB is also encouraging customers to fully understand the costs associated with borrowing before using any credit facility.
The bank cautions that cash withdrawals and cash advances may attract interest immediately, while unpaid balances after the applicable interest-free period may incur interest and additional fees.
Customers who pay only the minimum monthly amount may increase the total cost of borrowing over time, while missed or late payments can negatively affect their credit profiles and future borrowing opportunities.
Credit as a pathway to financial opportunity
For many South Africans, establishing and maintaining a strong credit record remains one of the most important steps towards long-term financial security.
A healthy repayment history can improve access to larger financial products such as vehicle finance, home loans and business funding, enabling greater participation in the formal economy.
However, Tshabalala warned that credit should never be viewed as a solution to financial hardship.
“Credit should never be used as a quick fix for financial pressure. Used responsibly, it supports future financial goals. Our role is to make that journey clearer, safer and more transparent.”
Advancing financial inclusion
As economic pressures continue to affect households across the country, FNB believes expanding access to transparent and regulated credit products can help reduce dependence on informal lenders while giving customers greater financial protection.
“The cost of turning to informal borrowing is not always clear upfront. Uninformed customers may face limited protection if something goes wrong. That can make an already difficult financial situation harder to manage,” Tshabalala said.
“We want customers to access a more transparent and structured alternative, with visibility and support to help them use credit responsibly. Responsible credit is about helping people make informed choices that support long-term financial progress.”
By lowering the Aspire Credit Card income threshold while maintaining rigorous affordability assessments, FNB is positioning itself to widen access to formal financial services, empower first-time borrowers and strengthen financial inclusion—one responsible credit decision at a time.
