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Discovery Card Review 2022

The Discovery Bank Card is quite popular among the middle class in South Africa. Individuals can choose from four different types of debit cards, all of which are among the best bank cards in South Africa. The bank’s current focus is on behavioral banking, and you can earn more by being a responsible banker. Discovery Bank distinguishes itself from the competition by fostering ethical banking and a healthy lifestyle. Holding a Discovery Bank Card means better health, financial planning, and saving for you, all of which are difficult for most people to achieve.

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 2022

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 provides its customers with four different sorts of debit cards: gold, platinum, black, and purple. The benefits and amount of reward on these debit cards vary, and the more renowned the card, the better the rewards. We’ll just look at the gold, platinum, and black discovery cards in this article because the purple debit card is only available via special invitation.

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

Gold Discovery Debit Card

The Discovery Gold Debit card is a first-tier card, or an entry-level card. The card is designed for people who want to save money and pay low bank fees. With this exploration card, you will be charged a monthly price of R5 plus an R5 Vitality Money premium fee, for a total of R10 every month. Because you may earn points whenever you send money with your card, it’s a really smart account.

You’ll also get special discounts on premium live events, which is unique for a gold card. You get four free withdrawals at any ATM in South Africa, as well as unlimited swipes at local points of sale. You’ll also get free international point of sale swipes, cash deposit at Pick n Pay, balance inquiry, payment notification, refunded debit order, and denied transaction.

We’ll go through the benefits and incentives of the Discovery card, as well as the Vitality awards you may earn with the gold card. The rates and requirements of the discovery bank debit card add to this.

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

The Discovery Gold Card charges only R10 for a quick transfer, whilst FNB and Standard Bank charge R50 and R12.50 respectively. This represents a saving of R40 if you bank with FNB and R2.50 if you bank with Standard Bank. The Discovery Gold Card rewards you for purchasing certain health products and equipment at specific stores by giving you up to 50% cashback.

You can acquire an iPhone 8 if you combine your debit and credit cards. If you meet your Vitality health objectives for 24 months, you can get it for free. You will be charged a monthly instalment if you do not meet your Vitality targets in any given month. Your instalment will be partially waived for the month depending on how many percent of the Vitality health goals you have completed.

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 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

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 disrupting traditional banking by doing things differently. Their mobile app keeps you up to date on your status by allowing you to monitor your awards and your progress. To maximize your benefits, you must first assess your purchasing habits and then select the card that best meets your needs. If you are a wise person, you should take advantage of the opportunity to save money in a discovery savings account, which will pay you 5% percent.

Depending on the sort of credit card you have, you can choose to have a credit card and receive a free iPhone device. It only takes completing a few tasks to claim your iPhone and avoid paying for it. If you want to apply for a discovery credit card, you’ll need current evidence of income and, if you’re employed, a payslip. Prepare your tax returns, since they may be necessary.

Discovery Card Review 2022

Martin du Toit

5 thoughts on “Discovery Card Review 2022

  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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