To apply for a Mobicred account you need a valid South African ID number, you must be 18 or older, and you need a bank account in your own name plus a current email address and mobile number. Meeting those four requirements lets you apply; it does not guarantee approval, because Mobicred assesses every application against its own credit approval criteria.
Mobicred is an online credit facility: you get a credit limit and use it to buy from participating merchants. The requirements below come from mobicred.co.za and the Mobicred terms and conditions.
Eligibility Requirements at a Glance
Mobicred publishes these requirements for applicants:
- A valid South African ID number
- Be 18 years or older
- An existing, valid bank account in your name
- A current, valid email address and mobile number
Applicants must also tell Mobicred if they are a citizen, resident or national of the United States, have links to a major sanctioned country, or move outside South Africa. Mobicred may refuse or terminate an account in those cases.
Income and Affordability Requirements
Mobicred does not publish a minimum income or a minimum credit score. Your application is subject to its credit approval criteria and the National Credit Act, and Mobicred is not obliged to accept it. To assess an application it may obtain information from your employer, your bank or a credit bureau.
If you are approved, a pre-agreement sets out the credit amount you qualify for, your interest rate, and the interest and fees over an indicative 12 months at full limit. Your limit is set by Mobicred; you cannot exceed it.
Credit and Financial Requirements
Mobicred is a registered credit provider (NCRCP 10896) regulated under the National Credit Act. Its terms describe the costs you can expect:
- A once-off initiation fee, charged with your first account payment
- A service fee, which Mobicred may change on notice
- Interest, shown on your pre-agreement and never above the maximum the National Credit Act allows. It is calculated daily and compounded monthly.
The rand amounts are set out in your pre-agreement, not in the general terms, so read it before you accept. Mobicred may waive interest on a purchase you pay in full by the statement due date, but that is at its discretion.
Late payment can bring default administration and collection costs, an adverse listing with the credit bureaux, suspension of the account and handover to collectors. The account is revolving: payments increase your available credit again, and Mobicred says a payment can take up to three days to reflect.
Documents and Verification Required
After you apply, accept the terms and receive your credit limit, Mobicred asks you to upload or email your documents. It does not publish a fixed list of those documents, so use the request Mobicred sends you rather than a generic checklist. Have your ID, your bank details and your phone ready, since the application uses your ID number, bank account, email address and mobile number.
How to Apply and Improve Approval Readiness
- Complete the online one-page credit application at mobicred.co.za and get an instant response.
- Accept the terms and conditions and receive your credit limit.
- Upload or email the documents Mobicred asks for.
- Start shopping with participating merchants.
Mobicred pays the merchant when you buy, and you then owe Mobicred that amount plus fees. The terms describe credit being used for purchases, online or in store, not for cash. See our guide to Mobicred cash withdrawal requirements for more on that.
To improve your chances, make sure the ID number, bank account, email address and mobile number you enter are correct and in your name, and check your credit report before you apply.
Frequently Asked Questions
What are the Mobicred requirements?
A valid South African ID number, age 18 or older, a bank account in your name, and a current email address and mobile number. Approval then depends on Mobicred’s credit assessment.
What documents does Mobicred require?
Mobicred asks you to upload or email documents after you apply and accept the terms, but it does not publish a list. Wait for its request, or ask Mobicred support what it needs for your application.
Can I withdraw money from Mobicred?
The terms describe credit being used to buy from merchants, with Mobicred paying the merchant. They describe no cash withdrawal. Confirm with Mobicred if you need cash.
Is Mobicred regulated credit?
Yes. Mobicred states that it is a registered credit provider (NCRCP 10896), so the National Credit Act applies, including the cap on interest rates.
Does Mobicred affect my credit record?
Mobicred uses credit bureaux to assess applications, and its terms say adverse information is submitted to the bureaux if you fall into arrears. Paying on time avoids that.
What happens if I do not use my account?
If you do not use your credit facility for a period Mobicred determines, it may close the account on notice to you. You can also end the account yourself at any time, but you must pay the settlement amount.
Confirm current requirements with Mobicred before you apply. See loan requirements and browse all finance and funding requirements.