The Nedbank Platinum Credit Card is a mid-tier credit card that offers a variety of travel, lifestyle, and entertainment benefits. The credit card provides clients with platinum benefits and discounts through the Nedbank Greenbacks rewards program.
Travel Insurance is also included as part of the platinum credit card’s benefits. When using the credit card to purchase airline tickets, cardholders can receive free travel insurance. Furthermore, when making purchases with the credit card, the credit card itself is protected by the purchase protection.
Access to the Greenbacks rewards program provides many advantages to the user, as it allows account holders to earn discounts and rewards for using the credit card. It is always beneficial to join the Nedbank Greenbacks rewards program in order to earn discounts and rewards with the Nedbank Platinum Credit card.
The Nedbank Platinum Credit Card is an excellent starting point for those looking for a mid-tier credit card. For a better understanding of the credit card, we discuss the features that come with the Nedbank Platinum Credit card below.
Nedbank Platinum Credit card summary
The Nedbank Platinum credit card is available to those who earn at least R29,000.00 per month. Clients are charged a one-time initiation fee of R180.00 soon after opening the card. Credit card holders are required to pay a minimum repayment of 5% on their credit card’s outstanding balance each month.
Other fees associated with the Nedbank Platinum credit card include the monthly service fee of R60.00 and the credit facility fee of R30.00. The credit facility comes with an American Express credit card and a Mastercard credit card to transact with.
A secondary credit card can be obtained for an additional R35.00. There is no limit on the number of additional credit cards that can be taken out. For an R25 linkage fee, credit card holders can also link their platinum credit card to the Nedbank Greenbacks rewards program.
Credit cardholders can earn rewards, discounts, and travel benefits through the Greenbacks reward program. These benefits of the Nedbank Platinum Credit Card are detailed below:
Travel benefits on the Nedbank Platinum Credit card
- Travel insurance of up to R3 million if a credit card holder purchases air tickets with the credit card.
- Credit card holders get 12 complimentary Bidvest premier club domestic airport lounges per year.
- There are discounts on car hire from Hertz and Avis with the Greenbacks rewards program.
Insurance benefits on the Nedbank Platinum Credit card
- Credit card includes purchase protection with a chargeback option.
- An optional credit life insurance where the credit card holder is covered should he/she get retrenched, become critically ill, become disabled or die.
Discounts and rewards on the Nedbank Platinum Credit card
- 50% off on NuMetro movie tickets.
- A chance to win R20,000.00 worth of fuel if you swipe your credit card at BP garages.
- Can earn GreenBacks points on all eligible spending.
- There are restaurant deals and discounts on car hire and accommodation.
- Deals when shopping prepaid.
Nedbank Platinum Credit card fees 2023
| Fee description | Amount |
| Monthly maintenance fee | R64.00 |
| Monthly credit facility service fee | R32.00 |
| Extra card monthly fee | R35.00 |
| 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 card
- Every year, there are free visits to airport lounges.
- Car rental and lodging are discounted, and free travel insurance is provided when purchasing airline tickets with a credit card.
- Free use of Nedbank’s digital platforms.
- The monthly gross income requirement of R29,000.00 is reasonable for a mid-tier credit card.
- There is a free credit card replacement.
- For the first 55 days, there is no interest on the credit card.
- Card swipes are free of charge.
Disadvantages of the Credit card
- Membership in the Greenbacks rewards program costs R27.00 per month.
- There is no dedicated private service, as is common with midtier credit cards.
Requirements of the Nedbank Platinum Credit card
- Must be 18 years or older at the time of application.
- Earn at least R29,000.00 per month in gross income.
- Must have a good credit score and good credit history.
- Have a valid South African ID book or Smart card or a passport and a valid permit if you are a foreign national.
- Provide payslips for the past 3 months or bank statements.
- Provide proof of residence that is not older than 3 months at the time of application.
Conclusion
The Nedbank Platinum Credit card has some of the best credit card features available. Travel and insurance benefits can be claimed using the credit card. The credit card also has a low monthly service fee, which is a plus for a credit card in the middle tier.