FNB Black Card 2024 Review

  • Exclusive Features: Discover the unique benefits and features of the FNB Black Card.
  • Luxury and Rewards: Learn about the luxury services and rewards program that come with the FNB Black Card.
  • Expert Analysis: Get an expert evaluation of whether the FNB Black Card is worth its premium status and fees.

FNB Black Card Review 2024

The FNB Black Card series, tailored for high-net-worth individuals and discerning businesses, offers an array of financial solutions with distinct features and benefits. Individuals with an annual income surpassing R750,000.00 gain access to a credit facility of up to R300,000.00, underscoring the exclusivity of these cards. The series spans personal and business domains, with each card type catering to specific financial needs.

For personal banking, the Private Clients Debit Card and Private Wealth Debit Black Card provide dedicated private bankers, while the Private Clients Credit Card and Private Wealth Credit Card extend credit facilities and rewards. The Enterprise Business Card Debit and Enterprise Business Credit Card cater to businesses with an annual revenue of R60,000,000.00 or more, offering comprehensive financial tools and benefits.


FNB Black Card Summary:

The FNB Black Card, a premium credit card by First National Bank, targets high-net-worth individuals earning over R750,000.00 annually. This prestigious card provides access to a credit facility of up to R300,000.00, granting cardholders an elite banking experience.


Different Types of FNB Black Cards:

  1. Private Clients Debit Card
  2. Private Wealth Debit Black Card
  3. Enterprise Business Card Debit
  4. Private Clients Credit Card
  5. Private Wealth Credit Card
  6. Enterprise Business Credit Card

What is a Black Card?

In South Africa, a black card is a credit card designed for high-net-worth individuals with an annual income exceeding R750,000.00 or investable assets of R5,000,000.00 or more. The term “black card” refers to the card’s distinct color and typically allows credit access up to R300,000.00.


FNB Private Clients Debit Card

The FNB Private Clients cheque account caters to those with an annual income between R750,000.00 and R1,799,999.00, featuring a monthly account fee of R420.00. Notable benefits include a dedicated private banker, up to 40% back in eBucks on life insurance, and 20 free domestic and international SLOW Lounge visits per year.

Requirements:

  • Valid South African ID
  • Age over 18
  • Minimum annual income of R750,000.00
  • Proof of residence (not older than three months)

Advantages:

  • Monthly fee waiver with a R100,000.00 balance
  • Free subscription to eBucks rewards program
  • Monthly ATM deposits up to R9,000.00 free
  • Free card purchases and more

Disadvantages:

  • Higher charges for branch transactions
  • Increased bank charges for card declines

FNB Private Wealth Debit Black Card

The FNB Private Wealth account, tailored for individuals with an annual income of R1,800,000.00 or assets exceeding R15 million, offers an exclusive banking experience. With a monthly account fee of R525.00, account holders can earn interest on positive balances and benefit from a range of features.

Benefits:

  1. Metal Cheque Card: Exclusively available to Private Wealth clients.
  2. Non-Trading Juristic Account: Ideal for entities like family trusts or asset holding companies.
  3. Multi-Currency Options: Save and transact in nine foreign currencies.
  4. Free Money Maximiser Account: Earn money market fund interest on savings.
  5. Private Advisor Assistance: Integrated financial advice for various needs.
  6. Interest-Free Card Payments: Up to 30 days of interest-free card payments.

Requirements:

  • Age over 18
  • Proof of residence (within the last three months)
  • Annual income of at least R1.8 million or assets worth R15 million
  • Valid South African ID

Advantages:

  • Monthly service fee waiver with a minimum balance of R100,000.00
  • Free cash deposits up to R20,000.00 per month
  • 15% back with eBucks on Uber Eats purchases
  • Up to 40% back in eBucks on FNB’s life insurance
  • Access to exclusive benefits like free statements, balance inquiries, and global account transfers

Disadvantages:

  • Lack of a dedicated mobile app (feature available on more premium black cards)
  • Higher monthly service fees, although waived with a minimum balance

FNB Enterprise Business Card Debit

The FNB Enterprise Business account, tailored for businesses with an annual revenue of R60,000,000.00 or more, presents a strategic financial solution. This cheque account is meticulously designed to meet the dynamic needs of enterprising businesses, offering a range of services structured for optimal functionality.

Requirements:

  • Annual revenue of R60,000,000.00 or more

Advantages:

  1. Comprehensive Global Life Insurance: Enjoy free coverage when traveling.
  2. Private Banker: Access a dedicated private banker for personalized service.
  3. Business Analyst: Benefit from the expertise of a dedicated analyst for your company.
  4. eBucks Rewards: Earn eBucks points for using your card at various partners like Engine, Gautrain, Shoprite, Takealot, and more.
  5. Customized Card: The card is tailor-made to meet the specific requirements of your industry.
  6. Free Transactions: Enjoy unlimited free card purchases and ATM withdrawals.
  7. Free Statements and Balance Checks: Access financial information without additional charges.
  8. Customized Industry Solutions: Benefit from services designed to meet the unique needs of your business.

Disadvantages:

  • Exclusive eligibility: Limited to businesses with an annual revenue of R60,000,000.00 or more.

FNB Private Clients Credit Card

The FNB Private Clients Credit Card caters to individuals with an annual salary of R750,000.00 or more, providing a gateway to a host of exclusive benefits and financial advantages. This credit card, coupled with a credit facility service fee and a monthly account fee, offers a unique blend of convenience and rewards.

Requirements:

  • Minimum annual income of R750,000.00
  • Recent payslip and three months of bank statements
  • Age over 18
  • Valid South African ID
  • Good credit score

Advantages:

  1. Interest-Free Purchases: Enjoy up to 55 days of interest-free purchases.
  2. eBucks Rewards: Earn eBucks rewards when making purchases at selected stores.
  3. Free Statements and Balance Enquiries: Access financial information without additional charges.
  4. Free Linked Accounts Transfer and Payments: Seamlessly manage your linked accounts.
  5. Free Card Replacement: Get a replacement card without incurring additional costs.
  6. Access to SLOW Lounge: Enjoy the luxury of the SLOW Lounge.
  7. Credit Facility from R75,000.00: Access a substantial credit facility for your financial needs.

Disadvantages:

  • Credit facility service fee and monthly account fee apply.
  • Requires a good credit score for eligibility.

FNB Private Wealth Credit Card

The FNB Private Wealth Credit Card is an exclusive offering tailored for individuals earning an annual income of R1,800,000.00 or possessing net assets valued at R15 million or more. With a credit facility service fee, a monthly account fee, and an initiation fee, this credit card provides a gateway to a realm of elevated privileges and financial benefits.

Requirements:

  • Minimum annual income of R1,800,000.00 or net assets worth R15 million
  • Valid South African ID
  • Age over 18
  • Recent payslip and three months of bank statements
  • Good credit score

Advantages:

  1. Interest-Free Purchases: Enjoy up to 55 days of interest-free purchases.
  2. eBucks Rewards: Earn eBucks rewards on purchases at selected stores.
  3. Free Statements, Balance Enquiries, and Card Purchases: Access financial information and conduct transactions without additional costs.
  4. Free Linked Accounts Transfer and Payments: Seamlessly manage linked accounts.
  5. Credit Facility from R100,000.00: Access a substantial credit facility for various financial needs.
  6. Access to SLOW Lounge: Experience the luxury of the SLOW Lounge.

Disadvantages:

  • Credit facility service fee, monthly account fee, and initiation fee apply.
  • Requires a good credit score for eligibility.

FNB Enterprise Business Credit Card

The FNB Enterprise Business Credit Card is a distinguished financial solution crafted for enterprises with an annual revenue of R60,000,000.00 or more. As a credit card designed for business needs, it combines financial functionality with exclusive benefits, making it a strategic choice for high-revenue companies.

Requirements:

  • Annual revenue of R60,000,000.00 or more
  • Good credit score
  • Business account with FNB

Advantages:

  1. Complimentary Lounge Access: Enjoy free SLOW Domestic and International Lounge visits per year and complimentary SLOW in the City access.
  2. Global Customer Assistance Services (GCAS): Access high-quality assistance through the GCAS program when traveling overseas, available globally, 24/7, 365 days a year.
  3. Comprehensive Global Travel Insurance: Receive free comprehensive global travel insurance when purchasing travel tickets using the Enterprise Business Credit Card.
  4. eBucks Rewards: Earn eBucks points when traveling and renting a car from AVIS, as well as when using the card at Engine, Gautrain, Shoprite, Takealot, and other partner locations.
  5. Tailored Industry Solutions: The card is custom-made to meet the specific requirements of your industry.
  6. Unlimited Free Card Purchases and ATM Withdrawals: Conduct transactions without incurring additional charges.
  7. Free Statements and Balance Checks: Access financial information at no extra cost.
  8. Free SLOW Lounge and GCAS Access: Benefit from a range of complimentary services for a seamless travel experience.

Disadvantages:

  • Exclusive eligibility: Limited to businesses with an annual revenue of R60,000,000.00 or more.

Conclusion

The FNB Black Card series stands as a nuanced offering catering to distinct financial landscapes. With eligibility criteria linked to income and revenue thresholds, these cards provide access to substantial credit facilities. The personal banking segment, encompassing the Private Clients and Private Wealth cards, emphasizes the provision of dedicated private bankers and tailored benefits. Simultaneously, the Enterprise Business cards target high-revenue businesses, offering a suite of financial tools designed to enhance operational efficiency.

While each card type presents unique advantages, potential cardholders should conduct a thorough assessment of their financial needs and weigh the associated fees against the benefits offered. As the financial landscape evolves, the FNB Black Card series positions itself as a strategic player in providing tailored solutions for individuals and businesses seeking a blend of exclusivity and functionality. Ultimately, the decision to engage with the FNB Black Card series should align with the specific financial goals and preferences of the discerning consumer or business entity.


Frequently Asked Questions (FAQ)of The FNB Black Card

1. What is the FNB Black Card series?

  • Answer: The FNB Black Card series is a suite of exclusive banking solutions offered by First National Bank, designed for high-net-worth individuals and businesses.

2. How do I qualify for the FNB Black Card?

  • Answer: To qualify, individuals need an annual income exceeding R750,000.00, while businesses must have an annual revenue of R60,000,000.00 or more.

3. What credit facilities are available with the FNB Black Card?

  • Answer: Individuals can access credit facilities of up to R300,000.00, and businesses may have credit options based on their financial needs.

4. Are there separate cards for personal and business use?

  • Answer: Yes, the FNB Black Card series offers separate cards for personal and business use.

5. What benefits come with the Private Clients Debit Card?

  • Answer: Benefits include a dedicated private banker, up to 40% back in eBucks on life insurance, and 20 free domestic and international SLOW Lounge visits per year.

6. What is the annual income requirement for the Private Wealth Debit Black Card?

  • Answer: The annual income requirement for the Private Wealth Debit Black Card is R1,800,000.00.

7. What benefits come with the Enterprise Business Card Debit?

  • Answer: Benefits include free global life insurance, a private banker for the company, eBucks rewards, and tailored industry solutions.

8. How much is the monthly account fee for the Private Clients Credit Card?

  • Answer: The monthly account fee for the Private Clients Credit Card is R175.00.

9. What benefits come with the Private Wealth Credit Card?

  • Answer: Benefits include up to 55 days of interest-free purchases, eBucks rewards, access to the SLOW Lounge, and a credit facility from R100,000.00.

10. Is there a dedicated mobile app for the FNB Private Wealth Account?

  • Answer: The FNB Private Wealth Account does not have its dedicated mobile app.

11. What is the annual revenue requirement for the Enterprise Business Credit Card?

  • Answer: The Enterprise Business Credit Card requires an annual revenue of R60,000,000.00 or more.

12. Are there charges for branch transactions with the FNB Private Wealth Account?

  • Answer: Yes, branch transactions and services are charged at a higher rate than using the FNB App.

13. How can I apply for the FNB Black Card series?

  • Answer: Applications can be made at a local FNB branch or through the FNB online platform.

14. Can I have a joint account with the FNB Black Card?

  • Answer: Yes, joint accounts are possible, and additional cardholders can enjoy the same benefits.

15. Is there a limit to the number of Udemy courses I can enroll in with the FNB Private Clients Account?

  • Answer: For an R50.00 activation fee, account holders can enroll in a maximum of 2 Udemy courses per month and a total of 6 courses per year.

16. What is the minimum age requirement for FNB Black Cards?

  • Answer: Applicants must be over the age of 18.

17. Can I redeem rewards points earned on the FNB Private Clients Credit Card?

  • Answer: Yes, rewards points can be redeemed through the FNB Rewards Program for various options, including flights and merchandise.

18. Is there a cost for the FNB inContact service with the FNB Private Clients Account?

  • Answer: No, the FNB inContact service is provided at no cost.

19. Are there additional charges for card declines with the FNB Private Clients Account?

  • Answer: Yes, card declines incur a charge of R8.50 per declined transaction.

20. How can I check which FNB products I qualify for?

  • Answer: Use the FNB mobile app to assess eligibility for FNB products based on your financial profile.

21. What advantages does the FNB Private Clients Account offer for young professionals?

  • Answer: The account provides benefits such as fee waivers, free ATM deposits, free card purchases, and assistance from a dedicated private advisor.

22. Can FNB Private Clients Account holders purchase insurance products from FNB?

  • Answer: Yes, FNB Private Clients Account holders can purchase insurance products and receive up to 40% off their insurance premiums.

23. Is there a monthly fee waiver option for the FNB Private Clients Account?

  • Answer: Yes, the monthly account fee can be waived by maintaining a balance of R100,000.00 throughout the month.

24. What advantages does the FNB Private Wealth Account offer for businesses?

  • Answer: Businesses can benefit from a waived monthly account services fee, free cash deposits, eBucks rewards, and tailored financial advice.

25. Does the FNB Private Wealth Account have a dedicated mobile app?

  • Answer: The FNB Private Wealth Account does not have its dedicated mobile app; this feature is available on the most premium black card.

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For more details visit the FNB Website

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