The Standard Bank Blue Credit Card is the most affordable credit card from Standard Bank offering convenient everyday banking. As much as the credit card is the least expensive, it also has the least benefits that Standard Bank offers.
The account is good for people who are looking for a no-frill credit card that is able to perform day to day transactions and banking. However, you don’t get travel benefits and numerous discounts that are applicable to 1st tier credit cards like the Standard Bank Gold Credit.
Standard Bank Blue Credit Card Summary
The Standard Bank Blue Credit Card is a no-frills credit card that has a monthly service fee of R40.00. The credit card has a maximum credit limit of R250,000.00, of which the credit limit is allotted based on your affordability. To qualify for the Blue credit card, you need to earn at least R7,500.00 or more per month.
The interest rate on the Blue credit card is personalized meaning it is subject to your credit profile. The interest rate on the Blue credit card ranges between the prime rate and the repo rate + 14%. To qualify for a 55 interest-free credit, you need to repay your credit in full within 55 days of attaining it.
The Blue credit card comes with an initiation fee of R180.00, which is a once-off. However, if you get another Blue credit card, you will need to pay another R180.00 initiation fee. The Blue credit card requires an account holder to pay at least 3% of the total debt every month.
Standard Bank Blue Credit Card Benefits
- You get a credit limit of up to R250,000.00. The credit limit is subject to affordability and your personal credit profile.
- You can use your credit card everywhere around the world.
- Comes with free travel insurance of up to R1,000,000.00 when you buy flight tickets using your Blue Credit card. Travel insurance is available for Blue credit cardholders who are below the age of 75.
- You get a free ‘AutoBank’ cash deposit or balance enquiry per month.
- You get to collect UCount Rewards every time you use your credit card to make purchases online or in-store.
- Comes with free internet, telephone and mobile banking when you link your Blue Credit card to your internet profile.
- You can use your credit card to withdraw cash from Standard Bank ATMs and other banks’ ATMs.
- Has lost card protection which protects you against any loss caused by fraudulent use of your card if it gets lost or stolen. You will, however, need to report the lost or stolen Blue Credit card within 24 hours. The lost card protection doesn’t cover transactions whereby your PIN was used.
- The credit card comes with secure store purchases with credit card chips and pins.
- Free updates for transactions that take place on your blue credit card.
- The credit card comes with 3D Secure verification that requires One Time PIN every time you shop online, for a more online secure shopping experience.
Credit Card Fees 2022
| # | Fee Description | Amount |
|---|---|---|
| 1 | Monthly service fee | R40.00 |
| 2 | Initiation fee | R180.00 |
| 3 | International transaction fee | 2.75% |
| 4 | Cash deposits at a Standard Bank ATM | Free up to R3000.00, thereafter R10.00 per R1000.00 |
| 5 | Cash deposits at Standard Bank Branch | R18.00 per R1000.00 |
| 6 | International ATM Cash Withdrawal | R20.00 per R1000.00 + 2.75% international transaction fee |
| 7 | Cash Withdrawals at a Standard Bank ATM | R7.50 per R1000.00 |
| 8 | Cash Withdrawals at a Standard Bank Branch | R20.00 per R1000.00 |
| 9 | Online inter-account transfers | R4.00 |
| 10 | Branch inter-account transfers | R75.00 |
| 11 | Cash advance on casino chips purchases | R2.00 per R100.00 |
| 12 | Cash withdrawals at other banks ATMs | R10.00 per R1000.00 |
| 13 | Online account payments | R9.00 |
| 14 | Branch account payments | R75.00 |
| 15 | Point of sale purchase with cashback | R1.40 per R100.00 |
| 16 | Point of sale cash back only | R1.40 per R100.00 |
| 17 | Card replacement fee | R145.00 |
| 18 | Branch balance enquiry | R11.00 |
| 19 | Prepaid electricity | R1.50 |
Competitive Advantages of the Standard Bank Blue Credit Card
- Interest rates on your credit card will depend on your credit health, the more you take care of your debt the more you receive better interest rates.
- Fees will depend on how many times and how much you spend on your Blue credit card.
- The credit card has the lowest monthly maintenance fee of any of the credit cards at Standard Bank.
- The credit card comes with basic travel insurance when you purchase travel tickets with your Blue credit card.
- You get 55 days of interest-free credit if you pay your amount in full every month.
- You can use the Blue credit card to save you money, as a result, earning interest in keeping a positive balance.
- Anytime you want extra credit, you can get it through an application. You can also reduce your credit limit at any point.
Competitive Disadvantages of the Standard Bank Blue Credit Card
- The credit card doesn’t have travel benefits.
- The credit card protection is optional and at an additional price.
- High minimum monthly income for an entry-level credit card at R7,500.00.
How to Qualify for the Credit Card
- You need to earn at least R7,500.00 per month or more.
- You must be over the age of 18 at the time of application.
- Have a South African ID book or smart card, or have a passport if you are not a South African citizen.
- You need to have proof of residence that is not older than 3 months at the time of application.
- Have the most recent payslip.
- Must have 3 months’ bank statements showing income.
Conclusion
The Standard Bank Blue Credit Card is a credit card that is suitable for someone who doesn’t transact much or wants to have a low credit limit. This is displayed on the credit card’s offers, and the offers are not as many as one would expect. If you are a person that likes travelling and making lots of transactions, then the Blue credit card is not for you.
