The Nedbank gold credit card is one of the best entry-level credit cards in South Africa. The credit card has a low monthly maintenance fee of R20.00. Other fees that come with the credit card are mostly transactional.
The Nedbank Gold credit card comes with rewards and discounts through the Nedbank Greenbacks rewards program. With the gold credit card a subscription is required to join the Nedbank Greenbacks rewards program.
Other advantages of the Nedbank gold credit card include travel and insurance benefits. When traveling, credit card holders can take advantage of the benefits offered through the credit card. More benefits and insights into the Nedbank gold credit card are discussed below.
Nedbank Gold Credit Card summary
Individuals with a monthly gross income of R5,000.00 or more are eligible for the Nedbank gold credit card. This credit card has a monthly minimum repayment of 5% of the total credit used. The credit card is only available to people over the age of 18, who are either South Africans or foreigners with a valid permit.
The Nedbank gold credit card has a monthly service fee of R40.00, which includes an R20.00 maintenance fee and an R20.00 credit facility fee. An additional card, linked to the credit card, can be obtained for a monthly fee of R30.00.
For a monthly fee of R27.00, credit card holders can join the Nedbank Greenbacks rewards program. Cardholders can earn GreenBacks on participating purchases when using the credit card. The credit card also charges no fee for card swipes.
The Nedbank gold credit card comes with a number of travel and transactional benefits for the user to enjoy. These benefits are listed as follows.
Nedbank Gold Credit card Benefits
- Credit card holders get the opportunity to earn GreenBacks twice as fast with the Nedbank gold credit.
- Credit card holders get preferential debit interest rates.
- The credit card comes with exclusive hertz and Avis car rental discounts when using the American Express Credit card.
- The credit card can be used at any store that accepts American Express credit cards.
- Credit card holders can get up to 50% off their NuMetro movie tickets when using the credit card to make purchases.
- There is a chance to win up to R20,000.00 worth of fuel when swiping the credit card at a BP garage.
- There are travel discounts on flights and accommodation.
- Credit card holders only need to pay a minimum of 5% of the total debt per month.
The Nedbank gold credit card may have many benefits but there are fees that the credit card charges. We look at the fees that the Nedbank gold credit card charges below.
Nedbank gold credit card fees 2023
| Fee Description | Amount |
|---|---|
| Monthly maintenance fee | R20.00 |
| Monthly credit facility service fee | R20.00 |
| Extra card monthly fee | R30.00 |
| Monthly Greenbacks linkage fee | R27.00 |
| Once off initiation fee | R180.00 |
| Self service banking fee | Free |
| Cash deposit at a Nedbank ATM | R100.00 + R2.50 per R100.00 or part thereof |
| Cash deposit at a Nedbank branch | R1.50 per R100.00 or part thereof |
| Withdrawals at a Nedbank ATM | R2.50 + R100.00 or part thereof |
| Cash withdrawal at another bank’s ATM | R12.00 + R2.50 per R100.00 or part thereof |
| Withdrawal at a Nedbank branch | R100.00 + R2.50 per R100.00 or part thereof |
| Withdrawal at an international ATM | R60.00 + R2.50 per R100.00 or part thereof |
| Point of sale balance enquiry fee | R2 |
| Balance enquiry at a Nedbank branch | R22.00 |
| Balance enquiry at another bank’s ATM | R10.00 |
| Nedbank online banking payment notification by email or sms | R0.50 |
| Same day card delivery fee | R450.00 |
| Card replacement fee | R150.00 |
| International currency conversion fee | 2% |
| Tracing fee | R410.00 |
| Personal card delivery fee | R170.00 |
| Failed payment fee | R35.00 |
| Lotto tickets | R2.00 |
| Airtime purchase fee | R1.50 |
| Data purchase fee | R1.50 |
| Electricity and water purchase fee | R1.50 |
.
Advantages of the Nedbank gold credit card
- The credit card charges a low monthly maintenace fee of R20.00.
- Credit card holders can subscribe to the Nedbank Greenbacks rewards program.
- A Greenbacks shop card is issued and can be used at any store that accepts American Express cards.
- The credit card doesn’t require a lot of income to open.
- Discounts on flights, car rental and accommodation are available for travellers.
- The credit card doesn’t charge any transaction fee on card swipes.
- Prepaid can be bought using the credit card.
- There is travel insurance when purchasing air tickets with the credit card and it also comes with an option to top up.
- The credit card provides Credit card holders with access to the Nedbank digital platforms.
Disadvantages of the Nedbank gold credit card
- There are no complimentary lounge access for both domestic and international airports.
- Membership to the Greenbacks rewards program requires a monthly fee of R27.00.
Requirements of the Nedbank Gold Credit card
- Must be 18 years or older at the time of application.
- Live in South Africa and have a valid South African ID book or Smart card or a passport with a valid work permit if you are a foreign national.
- Must earn at least R5,000.00 per month before taxation.
- Have a good credit score at the time of application.
- Have payslips for the past 3 months or stamped bank statements for the past 3 months.
Conclusion
The Nedbank gold credit card is an excellent choice for those with low incomes or who are new to credit cards. Obtaining this credit card provides the credit card holder with free travel, insurance, and discount benefits. Most credit card benefits require transactions before they can be unlocked.
