The monthly credit facility fee for Discovery Credit cards ranges from R35.00 to R65.00. The monthly credit facility fee is determined by the credit card used. An annual card fee is only applicable to the Discovery Purple credit card, which charges R3,250.00 per year.
Credit cardholders can also earn discounts and rewards when they use their credit card through the Discovery Vitality Money Program. Discovery Vitality Money Premium has a monthly fee ranging from R25.00 to R75.00 depending on the credit card.
Credit card holders can earn lifestyle, banking, and travel benefits through Vitality Money Premium. These benefits are listed below.
Discovery Bank provides its customers with four credit cards, each with a minimum income requirement. Furthermore, a customer must have a good credit score in order to obtain a credit card from Discovery Bank. Before applying for a Discovery Credit Card, you should check your credit score.
We on cover 3 of the Discovery Bank credit cards below.
The Discovery Gold Credit Card is a first-tier credit card available to individuals earning between R100,000 and R350,000.00 per year. The monthly credit facility fee for the credit card is R35.00. Credit card holders can boost their rewards earnings with Vitality Money premium which is available at monthly subscription fee of R25.00.
Gold credit cardholders can get up to 40% back on healthy food purchases with Vitality Money Premium. Furthermore, credit card holder get up to 10% back on Uber rides and fuel purchases made with the credit card. More travel rewards and discounts can be earned when buying air tickets, paying for accommodation, and other travel necessities.
With Discovery Bank Gold Credit, you can get free POS swipes for both domestic and international transactions. Pick n Pay cash deposits, interbank transfers, returned debit orders, and denied transactions are also accepted. Discovery does not charge a fee for failed purchases, but other banks do, such as R8.50 for declined transactions on a FNB gold credit card.
Other benefits of using the Discovery Gold credit card include being rewarded for good driving habits, eating well, and staying in shape, among other things. With the exception of Discovery Bank’s Gold Credit Card, no other bank in South Africa offers similar benefits. You earn points for saving money that you cannot get from any other bank except Discovery Bank.
There is no currency conversion or withdrawal fees when using the Capitec Bank Gold Credit Card to make purchases abroad. The same cannot be said for the Discovery Bank gold credit card. Withdrawals are charged at a predetermined rate, as are foreign currency conversion fees. The bank charges an R65 fee for ATM withdrawals made outside of the country, as well as a 2.75% currency conversion rate.
The Discovery Platinum Credit Card is a midtier credit card available to individuals with annual incomes ranging from R350,000.00 to R850,000.00. For credit limits less than R2,000.00, credit card holders must pay a once-off R150.00 single credit facility initiation fee. The once-off credit facility initiation fee is R185.00 if the credit limit is greater than R2,000.00.
The monthly single credit facility fee for the Discovery Platinum Credit card is R69.00. Credit card holders can boost their rewards earnings with the Discovery Vitality Money Premium, which costs R55.00 per month.
Discovery Platinum credit cardholders can get the following benefits with Vitality Money Premium:
When it comes to instant payment, Discovery Bank is less expensive than Standard Bank and FNB. Discovery charges only R10 for instant payment on its Platinum Credit Card, whereas FNB and Standard Bank charge R65 and R12.50, respectively. No other bank offers up to 50% rewards when purchasing food, exercise equipment, and health products, and Discovery Bank is the only bank that does so with a platinum card.
Standard Bank cover your credit facility if your card is stolen during an armed robbery, whereas Discovery Bank’s Platinum Credit Card will not. FNB charges R18.50 for a new premier card, whereas Discovery Bank charges R150.00, a R131.50 difference.
The Discovery Black Credit Card is a credit card available to individuals with an annual income ranging from R850,000.00 to R2.5 million. The monthly single credit facility fee for the credit card is R499.00. For credit cards with a limit of less than R2,000.00, a once-off single credit facility initiation fee of R150.00 is required; however, accounts with a credit limit of more than R2,000.00 pay a once-off fee of R185.00.
The Discovery Black Credit Card charges a monthly subscription fee of R65.00 for the Vitality Money program. Credit card holders can earn up to 50% off international flights, 75% back on healthy food purchases, and discounts on accommodation and car rentals.
The Discovery Black Credit Card provides more value for your money. If you have the credit card, you can use selected airport lounges worldwide. Credit Card holders get 6 trips to over 1200 private lounges worldwide with a guest included. When you shop healthily, you can earn up to 75% back in Discovery miles.
Some banks use a regressive model to calculate currency conversion fees, but this is not the case with Discovery Bank’s Black Card, which charges 2.75% as a conversion rate. On the other hand, Standard Bank charges a conversion rate of 1.75%.
Discovery credit cards are among the best in South Africa. They offer more attractive discounts and rewards than some of the Big Five banks. Discovery has also excelled at behavioural banking, successfully implementing it despite the COVID-19 pandemic.
The simplest way to apply for a Discovery Credit Card is filling up a credit card application form on the Discovery website. The process of approval takes a few minutes, as everything is done online. You will just need the necessary requirements with you to apply successfully. That is your SA ID number and payslip or proof of income that’s not less than 3months old.
Discovery credit cardholders can withdraw cash from ATMs, selected superstores and even do cash deposits at these points. Withdrawing at local points is charged at R4 per withdrawal while withdrawals at International points are charged at a higher fee, that is at R65 per withdrawal.
The Four Discovery Credit Cards, that is the Gold, Black, Purple and the Platinum have all advantageous features that standout. The benefits and advantages depend on which of the credit cards you are using as they all offer benefits that are highly convenient to the client.
Discovery Gold Credit card is a 1st tier credit card from discovery Bank. The card offers rewards for healthy living, healthy spending and more. For a gold credit card, this card offers more value for money with free comprehensive travel insurance and free cash deposit at local pick n pay supermarket.
The Platinum Credit Card is the typical high ranker credit card offered by the Discovery Bank. It is only offered to the few who earn from R350 000 to R850 000 per annum.
The Discovery Black Credit Card is a top of the range credit card from the Discovery bank. With a Discovery Black Credit Card, you get yourself a private banker dedicated to helping you with your banking needs. You get advice whenever you need it and can consult 24/7. Besides getting your own private banker you get accelerated rewards.
To qualify for a Discovery Credit card, you have to meet the requirements needed for each credit card. Basic requirements would be your SA ID number, proof of income or payslip for the last 3 months and the ranges of income according to each credit card’s requirements.
The rates of the Discovery Credit Cards differ from each other. The Discovery Gold credit Card is, however, the credit card with the lowest rates compared to the Platinum and the Black credit card. The rates for the Discovery credit card are:
Discovery bank is known as the first behavioural bank in the world. The company literally rewards its clients for their lifestyle and spending behaviour. Depending on how you behave as a discovery client, you can earn up to 100% cash back in rewards on certain reward items.
Compared to other banks, Discovery is the only bank in South Africa that has exclusive offers which no other bank can offer to their clients.No other bank offers rewards of up to 50% when shopping for food, gym products and health products.