Discovery Card Review 2021

Posted on Dec 30, 2020 by Staff Writer

Rateweb | South Africa

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Discovery Bank Card is in high demand amongst the South African middle class. The bank has four types of debit cards for individuals and they are some of the best bank cards in South Africa.

Introduction

discovery credit card

Behavioural banking is the current focus of the bank and you can earn more by being a responsible banker.

At Discovery Bank encouraging responsible banking and a healthy lifestyle is what makes the bank unique from everyone else. Holding a Discovery Bank Card means better health, better financial planning and saving for you, these are things that people can’t achieve easily.

Discovery Card Summary

Discovery Card is a South African behavioural bank card tailor made for those who are looking at saving money, earn rewards and pay low bank charges. The bank fees start from R5.00. The Discovery card is linked to the behaviour of the holder.

Discovery Bank Card Fees 2021

Fee TypeBlack CardPlatinum CardGold Card
Monthly Account FeeR325.00R135.00R90.00
Monthly Vitality Money premiumR55.00R45.00R35.00
Monthly single credit facility feeR60.00R60.00R60.00
Withdrawal at international ATMR0.00R65.00R65.00
Discovery Instant PayR0.00R10.00R10.00
Credit facility initiation feeR165.00R165.00R165.00
Card replacement feeR150.00R150.00R150
Discovery Bank Fees

Discovery Bank Rewards

Discovery Bank rewards you for living healthy and banking smart, now this is going beyond banking. You can receive up to 100% in rewards on your gym membership and up to 75% in rewards when buying healthy at PicknPay or Woolworths.

If you achieve all the vitality active reward goals for 24 months, Discovery cardholders can get an iPhone on Discovery Bank depending on the card you hold

Discovery iPhone rewards:

  • Discovery Platinum Card – iPhone 8 64GB
  • Discovery Platinum Full Banking Suite – iPhone Xr 64GB
  • Discovery Black Card – iPhone Xr 64GB
  • Discovery Black Full Banking Suite – iPhone 11 64GB
  • Discovery Purple Full Banking Suite – iPhone 11 Pro 64GB

The Discovery CEO said “It is really the most affordable way to get an iPhone in SA and the process is so simple.”

I couldn’t agree more. Reaching your banking goals and getting rewarded for them is something special.

Types of Discovery Bank Debit Cards

  1. Discovery Gold Card
  2. Discovery Platinum Card
  3. Discovery Black Card
  4. Discovery Purple Card

Discovery Bank offers 4 types of debit cards namely; Gold, Platinum, Black and Purple Debit card to its clients.

Benefits and reward level on these debit cards vary and the more prestigious the card is the better the rewards that come with the it.

For this article, we will only look at the gold, platinum and black discovery card as the purple debit card is only by special invitation.

Let’s look at the gold, premium and black discovery debit cards

Gold Discovery Debit Card

Discovery Credit Card Gold

Discovery Gold Debit card is an entry level card or what is known as a 1st tier card. The card is for those who are looking at saving money and paying low bank charges.

With this discovery card you get charged a monthly fee of R5 and a Vitality Money premium fee of R5 giving you a total charge of R10 per month. It’s a very savvy account considering that there are rewards to be earned whenever you send using your card.

You also get exclusive discounts on premium live events something that is unusual coming from a gold card. You get free 4 withdrawals at any atm is South African and unlimited swipes at local point of sale in South Africa.

Also, you get a free point of sale swipes internationally, cash deposit at pick n pay, balance enquiry, payment notification, returned debit order and declined transaction.

Discovery card has more benefits and rewards, we will look at these and the Vitality rewards you can earn with the gold card. Adding to this is the rates and requirements of the discovery bank debit card.

Features ??

  • Get a transaction account with optional overdraft for your day-to-day banking
  • Pay a single monthly fee for a bundle of transactions
  • You get Vitality Money, which rewards you for banking healthier
  • You earn market-leading interest rates on your savings and positive balances with the ability to earn even more by engaging with Vitality Money
  • Get easy credit management with a single credit facility if you have an overdraft
  • Make unlimited digital payments, transfers and debit orders
  • Make low-cost real-time payments with Discovery Instant Pay
  • Add secondary cards
  • Customise your accounts, card balances, limits and merchant limits
  • Link your Discovery accounts for automatic medical and pharmacy co-payments
  • Change your PIN, temporarily pause or stop cards on the app
  • Get free transaction notifications and monthly account statements
  • Pay with Fitbit Pay, Garmin Pay and Samsung Pay
  • Discovery Pay enables payment of contacts using just a cellphone number
  • Save all your Vitality savings and rewards in the Vitality Savings Account
  • Your debit card has secure chip and PIN technology, and can make fast and secure tap and go payments
  • You get extra security with Verified by Visa and Visa Checkout when you make online purchases

Rewards

  • Up to 6% off your borrowing rate
  • Get up to 6.5 % on your demand savings rate
  • Up to 5.5% on the money in your everyday accounts
  • Earn more weekly rewards for responsible spending and meeting your money goals.
  • Get exclusive pre-booking access to shows and events 48 hours before anyone else

Requirements

  • Must have an ID or passport
  • Have your proof of address

Discovery gold card competitive advantages ?

With the Discovery Gold Card, you only get to pay R10 for instant transfer while FNB charges R50 and Standard Bank charges R12. 50 for a single transfer. This is a difference of R40 if banking with FNB and R2. 50 if banking with Standard Bank.

With the Discovery Gold Card you are rewarded for buying selected health products and equipment at selected stores with one receiving up to 50% cashback.

If you bundle your debit card with a credit card you can get an iPhone 8. You can get it for free if you complete your Vitality health goals for 24 months.

For any month that you do not complete your Vitality goals, you will have to pay a monthly instalment. Depending on how many percent of the Vitality health goals you have completed, your instalment will be partially waived for the month.

Discovery gold card competitive disadvantages ??

According to one user on Hello Peter review, Discovery Bank doesn’t take card closure seriously. They emphasize that their case has been going for 2 months without any proper help.

Discovery Gold charges 2.75% on currency conversion while a Capitec Global one account doesn’t charge anything. On the other hand, FNB charges 1.5% on currency conversion which is 1,25% lower than the Discovery conversion charge.

Depending on the amount of money you want to convert, FNB charges conversion rate at a regressive rate while Discovery Bank charges a fixed rate. If you were to convert $1000 on the 1st on March 2020 you will be charged $27.50 by discovery and $1.50 by FNB.

Furthermore, if you are to convert $100000 on 10 March 2020 you will be charged $2750.00 for the transaction whereas FNB will charge you $1000 at 1%.

Discovery Bank Platinum Card

Discovery Bank Platinum Card

Discovery Platinum Card directly competes with FNB Premier Card, ABSA Premium Card, Standard Bank Titanium Card and AmEx Platinum Card.

As you can see the competition is quite high and the expectations are higher for this Discovery Card. Surely Discovery Bank will need to do things a bit more different than the rest just to get a share of the pie from these big banks.

Two things that Discovery Bank is doing so well with their Discovery Platinum Card is that it rewards for healthy living by giving Vitality rewards and a free device. There is no bank in South Africa that does this on their 2nd tier card and it has attracted those who are up for a healthy living.

Here are the benefits, rewards, rates and requirements of the discovery premium card

Benefits ??

  • A transaction account with optional overdraft for your day-to-day banking
  • Pay a single monthly fee for a bundle of transactions
  • You get Vitality Money, which rewards you for banking healthier
  • You earn market-leading interest rates on your savings and positive balances with the ability to earn even more by engaging with Vitality Money
  • Get easy credit management with a single credit facility if you have an overdraft
  • Make unlimited digital payments, transfers and debit orders
  • Make low-cost real-time payments with Discovery Instant Pay
  • Add secondary cards
  • Customise your accounts, card balances, limits and merchant limits
  • Link your Discovery accounts for automatic medical and pharmacy co-payments
  • Change your PIN, temporarily pause or stop cards on the app
  • Get free transaction notifications and monthly account statements
  • Pay with Fitbit Pay, Garmin Pay and Samsung Pay
  • Discovery Pay enables payment of contacts using just a mobile number
  • Save all your Vitality savings and rewards in the Vitality Savings Account
  • Automatic warranty extension of up to 24 months, as well as short-term protection against theft and accidental damage of purchases made with your Discovery Platinum Debit Card
  • Your debit card has secure chip and PIN technology, and can make fast and secure tap and go payments
  • You get extra security with Verified by Visa and Visa Checkout when you make online purchases

Rewards ??

  • Up to 6% off your borrowing rate
  • Get up to 6.5 % on your demand savings rate
  • Up to 5.5% on the money in your everyday accounts
  • Earn more weekly rewards for responsible spending and meeting your money goals.
  • Get exclusive pre-booking access to shows and events 48 hours before anyone else

Requirements

  • Must have a South African ID or
  • Be a foreign passport holder
  • Have a proof of address

Discovery Platinum Debit Card competitive advantages

Great are the rewards that come with the Discovery Premium Card. You get up to 100% back on a gym membership. No other bank in South Africa gives such discount for a gym membership.

You get up to 75% cashback in Vitality rewards when you use your Discovery card at Pick n Pay or Woolworths on selected health products.

Up to 50% cashback on airfares when you book with your Discovery card. Standard Bank Titanium Card can only get you up to 35% off when travelling.

This card has one of the lowest rate monthly fee payable of R35, while rival banks charges higher for the same card such as the standard bank titanium card that charges R202 of FNB premier charging R195.

Discovery Platinum Debit Card Competitive Disadvantages

Unlike the Standard Bank Titanium Card, you don’t get roadside assistance with the Discovery Platinum Card. Many benefits of on the Platinum Card benefit more if they have a debit and a credit card at once. Therefore, you can’t claim more rewards without taking a credit card, disadvantaging those who are not willing to take a credit card.

Discovery Black Debit Card

Discovery Black Debit Card

This is the second most prestigious card at Discovery Bank. It offers way better rewards and benefits that the previous two cards. The Discovery black card is very cheap to maintain. On a monthly basis with costs starting from R85 per month.

If you are earning R62000 or more you can qualify for this Discovery black card. The reward list is long, some of the best rewards are health rewards of up to 50% and 50% rewards on health gear. You get a chance to own a free iPhone 11 64gb if you hold a full suite Black Cards. All you need is to complete daily health goals for 24 months and the phone is yours.

Benefits

  • Get a transaction account with an optional overdraft for your day-to-day banking
  • Pay a single monthly fee for all your transactions
  • You get Vitality Money, which rewards you for banking healthier
  • You earn market-leading interest rates on your savings and positive balances with the ability to earn even more by engaging with Vitality Money
  • Get easy credit management with a single credit facility if you have an overdraft
  • Make unlimited digital payments, transfers and debit orders
  • Make low-cost real-time payments with Discovery Instant Pay
  • Add secondary cards
  • Customise your accounts, card balances, limits and merchant limits
  • Link your Discovery accounts for automatic medical and pharmacy co-payments
  • Change your PIN, temporarily pause or stop cards on the app
  • Get free transaction notifications and monthly account statements
  • Pay with Fitbit Pay, Garmin Pay and Samsung Pay
  • Discovery Pay enables payment of contacts using just a mobile number
  • Save all your Vitality savings and rewards in the Vitality Savings Account
  • Make purchases worldwide, as well as withdrawals from all Visa-linked ATMs
  • Get free travel insurance with airline tickets purchased using your Discovery Black Debit Card
  • You and a guest get six free visits each year to more than 1 000 airport lounges worldwide
  • You have access to a global concierge service to assist with travel planning, entertainment tickets and more
  • You’re also covered for:
  • Emergency evacuation to the nearest medical facility for treatment 
  • Lost or damaged luggage
  • Trip cancellation/trip interruption reimbursement for non-refundable fares
  • And you get a rental car collision damage waiver
  • You get automatic warranty extension of up to 24 months, as well as short-term protection against theft and accidental damage of purchases made with your Discovery Black Debit Card

Rewards

  • Up to 6% off your borrowing rate
  • Get up to 6.5 % on your demand savings rate
  • Up to 5.5% on the money in your everyday accounts
  • Earn more weekly rewards for responsible spending and meeting your money goals.
  • Get exclusive pre-booking access to shows and events 48 hours before anyone else.

Requirements ??

  • Must have a South African ID or
  • Be a foreign passport holder
  • Have a proof of address

Discovery Black debit Card Competitive Advantages ??

Discovery Black Debit Card charges the lowest monthly fee for a private banking card in South Africa. This is compared to the big five bank’s private banking cards.

Discovery charges R85 for its Black Card for its Vitality premium and monthly service fee. FNB, ABSA, Nedbank, and Standard bank charges R499.00, R190.00, R399.00 and R369.00 respectively. Capitec Bank doesn’t have a private banking facility hence it is not mentioned.

Discovery Bank offers better full suite package for private banking than some banks with the current full suite package at R275.00 which is way better than ABSA, FNB, Standard bank and Nedbank full suite packages.

This private card is the only private card that rewards a healthy lifestyle and responsible driving. You get rewarded for healthy eating choices, the time you spend exercising, driving safe, retirement choices, medical cover choices, and saving money.

This is a way to encourage people to live responsibly so that they don’t suffer from avoiding chronic diseases, early death, and retain their income after retirement.

Discovery Black debit card competitive disadvantages ??

Claim on discovery rewards can take longer than usual say one Discovery client on Hello Peter. He went on to say that they bought HealthGear and couldn’t receive rewards for 2 months.

Apart from cashback rewards, delay Discovery black card users find it difficult to talk with their dedicated private banker something that is very unusual in the private banking space.

A private banker ought to be readily available 24/7. If not available, assign an alternative private banker. FNB doesn’t have such issues with their dedicated private banker as the bank gives you a list of alternative private bankers that you can contact should the banker be unavailable.

The private banker usually leaves a client with a name and number of another private banker. Also, clients are faced with account closure problems as their accounts take longer to close. This is something that is unexpected for a prestigious bank like Discovery.

How to apply for Discovery bank card??

  • Have your ID or passport
  • Have your proof of residence
  • Download the Discover app on Google playstore or iStore
  • Register if you are using the mobile app for the 1st time or login if you are already a registered user
  • You can start your application on the app as new app user or add a new card as a registered client or
  • Visit a discovery store with necessary documents to start your application

Conclusion

Discovery bank is doing things differently and they are changing traditional banking. Their mobile app keeps you up to date with your status as you can check your rewards and how progressive you are on saving.

You need to understand your spending habits and pick the card that suits your spending needs so that you can get more rewards.

If you are a savvy person then better take an opportunity to save you money into the discovery savings account that will earn you 5% interest.

You can choose to have a credit card and get yourself a free iPhone device depending of the type of a credit card you hold.

Just a completion of several tasks is all it takes to claim your iPhone and pay nothing for it.

If you are going to apply for a discovery credit card you need to have a proof of income that is recent and a payslip if you are employed. Have your tax returns in order as they might be required.

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5 thoughts on “Discovery Card Review 2021

  1. Stay away- worst Bank every, impossible to deal with , NO support whatsoever , app is unusable and makes no sense
    WORST bank on the pLanet – Stay away- worst Bank every, impossible to deal with, NO support whatsoever, the app is totally unusable and makes no sense at all. You wait hours on the phone just to be kicked out, Noone reachable, Noone helps – and no one calls you back ever. stay away this is the worst nightmare of all banks, and I have big accounts with all of them

    dr. Michael Honsa

    1. Would you mind explaining what exactly happened for you to rank them as worst? From our experience Discovery Bank has been doing a fairly good in communication.

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