The American Express Gold Credit Card is offered by Nedbank in South Africa. This credit card is arguably one of the best low-budget travel credit cards in the country. The credit card offers some of the best travel benefits that can even rival those of mid-tier credit cards.
With the American Express Gold Credit Card, credit card holders have access to Nedbank’s digital platforms. Furthermore, American Express Gold Credit Card holders can enrol in the rewards program to earn discounts and rewards when they use their cards.
The Amex Gold Credit Card makes transactions easier. The credit card is compatible with Apple Pay, Samsung Pay, Fitbit Pay, and Garmin Pay. Cardholders can tap and go with their credit cards or scan QR codes to pay.
The American Express Gold Credit Card has numerous benefits and disadvantages charges, which we will discuss below.
American Express Gold Credit card summary
Individuals with a monthly gross income of R17,000.00 and above are eligible for the American Express Gold Credit Card. The credit card requires cardholders to make a minimum monthly repayment of 5% on the outstanding balance. The American Express credit card offers a 55-day interest-free period.
The monthly service fee for the credit card is R70.00. Nedbank charges a one-time fee of R670.00 to activate the credit card. The monthly credit facility fee is an additional R20.00 per month. The American Express Gold Credit Card doesn’t charge a fee for the gold card.
When replacing the card, American Express charges R0.00. In South Africa, however, the bank charges R160.00 for personal card delivery. R450.00 is charged for the same-day card replacement delivery.
American Express provides new credit card holders with 5000 welcome membership rewards points when they open a credit card. When new credit card holders spend R10,000.00 or more within the first three months of activation, they can earn an additional 5000 points.
Credit card holders can earn rewards and discounts through the membership rewards program. The following are the benefits of the American Express Gold Credit Card:
Travel benefits
- Travel insurance of up to R4 million.
- Up to 15% discount off standard rates when booking car rental through Avis.
- 12 complimentary visits a year to the Bidvest premier club domestic lounges.
- Hertz car rental benefits of up to 10% on standard rates.
- Can receive up to $100.00 hotel credit for qualifying dining, spa, and resort activities.
Reward benefits
- Get 50% off on your NuMetro movie tickets.
- You earn 1 point for every R5.00 purchase through the American Express Gold Credit card if you are a rewards member.
- Earn a monthly voucher when you spend R3,500.00 or more on your credit card.
- You can get a complimentary membership rewards card to pay with points or withdraw your points at an ATM.
Security Benefits
- Stop or block cards online.
- Setting transfer and withdrawal limits using the Nedbank Money App.
American Express Gold Credit fees 2023
| Fee Description | Amount |
|---|---|
| Monthly credit facility service fee | R21.00 |
| Primary card free | R75.00 |
| Additional card fee | Free |
| Once-off initiation fee | R670 |
| Monthly Loyalty linkage fee | R28.00 |
| Once off enrolment fee | Free |
| Withdrawal at Nedbank ATM | R2.50 per R100.00 or part thereof |
| Cash withdrawal at SASWITCH ATM | R12.00 + R2.50 per R100.00 or part thereof |
| Over-the-counter cash withdrawal fee | R100.00 + R2.50 per R100.00 or part thereof |
| Overseas cash withdrawal fee | R60.00 +R2.5 per R100.00 or part thereof |
| International currency conversion fee | 2% |
| Cash deposit at a branch | R100.00 + R2.50 per R100.00 or part thereof |
| Cash deposit at an IDATM | R1.50 per R100.00 or part thereof |
| Dishonored payment fee | R35.00 |
| Late payment fee | Free |
| Incorrectly disputed transaction local | R165.00 |
| Incorrect disputed transaction foreign | R200.00 |
| Tracing | Up to R410.00 |
| Balance enquiry at a branch | R22.00 |
| Enquiry at a Nedbank ATM | Free |
| Enquiry at a SASWITCH ATM | R10.00 |
| Lost card replacement fee | Free |
| Face-to-face card delivery | R170.00 |
| Same-day card replacement | R450.00 |
| POS balance enquiry | R2.00 |
| Counter statement | R40.00 |
Advantages of the American Express Gold Credit card
- Credit card holders can join the rewards program to earn points and get rewards.
- The monthly credit facility fee is low.
- There are welcome points when opening the credit card.
- Points are earned when purchasing using a credit card.
- There are 12 complimentary Bidvest airport lounge visits per year.
- An optional credit life protection can be taken to cover the credit used in case of loss of employment or disability
- There is free travel insurance.
- The credit card gives credit card holders access to the Nedbank digital platforms for convenient banking.
- Card swipes come at no additional charge.
Disadvantages of the American Express Gold Credit card
- The rewards program charges a membership fee.
- Since interest is personalised, interest payable on the credit card can be very high for those with a bad credit rating.
Requirements of the American Express Gold Credit card
- Must be over the age of 18 at the time of application.
- Earn at least R17,000.00 before tax.
- Must have a good credit score.
- Have a valid South African ID book or Smart card or a passport with a valid work permit if you are a foreign national.
- Payslips for the past 3 months or stamped bank statements for the past 3 months.
Conclusion
The American Express Gold Credit Card is indeed not cheap for a gold credit card, and this is because of the benefits that come with it. The card has raised the bar for a gold credit card while charging a low monthly service fee. Getting into the rewards membership program can earn credit card holders rewards and discounts.
