There are several different reasons why you may want to get a credit card. Whether it is for reducing your current debts or for buying a new car, as long as the interest rate is reasonable and you find the terms and conditions suitable to you, it can certainly help to have one.
Taking a glimpse at the financial market, there are numerous credit card options that are perfect for everyday spending. For those of you who are looking to get lifestyle, travel, and insurance perks, the Standard Bank Credit Card can be a fantastic choice.
Thus, if you are a South African citizen or a permanent resident, we will do our best to explain how this credit card works. This way, you can figure out whether it is something that will help you. Let’s get to it!
Fees and Interest
First, when it comes to deciding on a credit card, you will want to know about the fees and potential charges. In this case, you are looking at a monthly service fee of R63, which may sound like a lot, but it is worth it given the number of advantages you will receive.
Along with that, there is a fee of R8 per R1 000 charged up to R3 000, After that, you will be charged R2.20 per R100. Plus, for international transactions, you will be charged R3 per R100 or a minimum of R70. The late payment fee is set at R170 and the initiation fee is R180.
Although some of these charges may seem like a lot, it is perfectly normal for a bank to apply such rates, especially when it comes to credit cards that offer several discounts and travel perks.
How to Apply
The application process is quite easy and consists of a few quick steps that you can perform online on Standard Bank’s website. However, before you apply, you must verify whether you are eligible or not.
The first criteria that you will want to meet are that you have a monthly income above R7.500 and a good to excellent credit score. Along with that, you should make sure you have proof of your South African citizenship/residency (permanent).
You must also be above 18 years old. You can apply for this card if you fulfill all the eligibility criteria. Once you apply, the final decision should be given to you almost instantly. If approved, you will get the credit card at your address within a couple of business days.
Features and Benefits
There are a wide range of features that you can enjoy when it comes to this credit card. You can get 20% off Emirates Airlines flights, 5% cashback on Booking.com, 10% off luggage from Gopals, and a 10% discount on certain rental cars.
In addition, cardholders also get 15% off at Wine-of-the-Month Club, put o 50% off courses on Udemy, up to four counselling sessions at 3Sixty Health every month, R150 off your first visit to SweepSouth, and much, much more.
Also, you can take advantage of various insurance offers
Bank Contact Details
Most importantly, if you want to ask any additional questions and don’t know how to get in touch with Standard Bank, they offer a number of contact options. First, you can find their main address in Johannesburg at 5 Simmonds Street, Selby.
You can also go to your nearest branch to talk to a representative. Additionally, you can reach the bank by phone at 0860 123 000 if you are calling from South Africa or +27 10 249 0423 if you are calling internationally.
Also read: FNB Credit Card – Learn How to Apply
It all comes down to what you are looking for. If you are someone who travels on a regular basis and wants to enjoy different perks and discounts with your credit card, then the Gold Card can go a long way towards that!
Note: Consider the risks involved in using credit products before applying by consulting the issuing institution’s terms and conditions.