As we step into the new year, financial decisions take center stage, and for many South Africans, choosing the right credit card is a crucial aspect. In this comprehensive review, we delve into the Woolworths Gold Credit Card for 2024, examining its features, fees, and the exciting Quarterly Loyalty Voucher Programme.
Woolworths continues to be a household name, offering not only a diverse range of products but also financial services through their credit cards. The Woolworths Gold Credit Card for 2024 holds several promising features, making it an enticing option for both frequent shoppers at Woolworths and those seeking a credit card with valuable perks.
| Features | Woolworths Gold Credit Card 2024 |
|---|---|
| Minimum Monthly Income | R3,000.00 |
| Rewards Program | 2% back on Woolworths purchases, 0.75% back on purchases elsewhere |
| Automatic WREWARDS Membership | 5% off WREWARDS items when using the card at Woolworths |
| Additional Benefits | Lost card protection, free Woolies mobile app access, balance protection cover, and more |
| Monthly Service Fee | R60.00 |
| Overseas Transaction Fee | 2.5% international currency conversion fee, R60.00 per overseas ATM withdrawal |
| Initiation Fee | R193.00 |
One standout feature of the Woolworths Gold Credit Card is its Quarterly Loyalty Voucher Programme, providing cardholders with a distinctive way to earn rewards. Let’s take a closer look at how this programme works and the benefits it offers.
All Woolworths Credit Card customers are automatically enrolled in the Quarterly Loyalty Voucher Programme. This programme is distinct from the WRewards programme, offering a different set of rewards based on card usage.
Customers earn a percentage of their spending back in Woolworths Quarterly Vouchers. The percentage varies depending on the type of credit card:
| Credit Card Type | % Back on Woolworths Purchases | % Back on Purchases Outside Woolworths |
|---|---|---|
| Woolworths Silver Credit Card | 1% | 0.5% |
| Woolworths Gold Credit Card | 2% | 0.75% |
| Woolworths Black Credit Card | 3% | 1% |
Understanding the fees associated with any credit card is essential for making informed financial decisions. Let’s explore the fees attached to the Woolworths Gold Credit Card for the year 2024.
| # | Fee Description | Amount (R) |
|---|---|---|
| 1 | Monthly Service Fee | 60.00 |
| 2 | Overseas Transaction Fee | 2.5% of transaction value |
| 3 | Initiation Fee | 193.00 |
| 4 | Absa ATM Withdrawal (Overseas) | 60.00 |
| 5 | Card Replacement Fee | 150.00 |
| 6 | Absa ATM Mini Statement Fee | 7.00 |
| 7 | Absa ATM Cash Deposit Fee | 2.50/100.00 |
| 8 | Branch Cash Deposit Fee | R5+ R1.50/R100 |
| 9 | Absa ATM Balance Enquiry Fee | 2.00 |
| 10 | Absa-supported ATM Bal Enquiry Fee | 27.00 |
| 11 | Saswitch ATM Balance Enquiry Fee | 31.50 |
| 12 | Absa ATM Cash Withdrawals | 25.00 |
| 13 | Absa Branch Cash Withdrawal | 25.00 + 1.30 per R100.00 |
| 14 | Saswitch ATM Withdrawal | 28.00 |
| 15 | Overseas ATM Cash Withdrawal | 60.00 |
| 16 | Bank Cheque Withdrawal | 65.00 |
| 17 | International Currency Conversion Fee | 2.5% of transaction value |
| 18 | Card Courier Fee | 180.00 |
| 19 | Unpaid Debit Order Fee | 120.00 |
To acquire the Woolworths Gold Credit Card, certain eligibility criteria must be met. Here are the requirements:
The Woolworths Gold Credit Card for 2024 stands out as a competitive option in the South African credit card landscape. Its unique features, coupled with the Quarterly Loyalty Voucher Programme, provide cardholders with tangible benefits. While certain fees and limitations exist, the advantages, such as travel insurance, flexible budgeting, and automatic WREWARDS membership, make it an appealing choice, especially for those who frequent Woolworths stores.
As with any financial decision, potential cardholders should carefully consider their spending habits, financial goals, and the terms of the credit card before making a commitment. By doing so, individuals can ensure that the Woolworths Gold Credit Card aligns with their needs and contributes positively to their overall financial strategy in 2024.
Q1: What makes the Woolworths Gold Credit Card unique in 2024? A1: The card stands out with a 2% cashback on Woolworths purchases, 0.75% on external transactions, and enticing benefits, including travel insurance.
Q2: How does the Quarterly Loyalty Voucher Programme work? A2: Cardholders earn Woolworths Quarterly Vouchers based on their spending, with percentages varying by card type. Vouchers are issued quarterly.
Q3: What are the fees associated with the Woolworths Gold Credit Card? A3: Fees include a R60.00 monthly service fee, a 2.5% international currency conversion fee, and R25.00 for Absa ATM cash withdrawals.
Q4: Can the Woolworths Quarterly Vouchers be redeemed at any store? A4: Vouchers can be redeemed at any Woolworths store within South Africa, excluding Engen stores, providing flexibility for cardholders.
Q5: What are the advantages of the Woolworths Gold Credit Card? A5: Benefits include free Woolies mobile app access, travel insurance, a 55-day interest-free credit period, and automatic WREWARDS membership.
Q6: Are there any limitations to earning Woolworths Quarterly Vouchers? A6: Vouchers are not awarded for cash transactions, cash withdrawals, or certain foreign exchange purchases. Reversed transactions result in deducted voucher values.
Q7: How can one qualify for the Woolworths Gold Credit Card? A7: To qualify, applicants need a minimum monthly income of R3,000.00, a valid South African ID, and proof of residence not older than 3 months.
Q8: Are there limitations on where deposits can be made with the Woolworths Gold Credit Card? A8: Yes, deposits and withdrawals cannot be made at Woolworths locations. Deposits are free at Absa ATMs.
Q9: Is there an initiation fee for the Woolworths Gold Credit Card? A9: Yes, there is an initiation fee of R193.00 to get started with the Woolworths Gold Credit Card.
Q10: Can the credit limit of the Woolworths Gold Credit Card be increased? A10: Yes, cardholders can request a credit limit increase by contacting the issuer in writing or by phone, subject to assessment.
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