Reviews

Standard Bank Credit Card Review 2022

Published by
Lethabo Ntsoane

Standard Bank offers credit cards to people in a variety of economic levels, from lowest wage workers to high-net-worth individuals. Anyone with a monthly income of R5000.00 or more can apply for one of the bank’s four credit cards. To qualify for a Standard Bank credit card, you must have a source of income. As a result, you must provide evidence of income when applying for a conventional bank credit card. In rare situations, you may be asked to show a copy of your SARS income tax return as proof of income.

Since 2019, Standard Bank has been shuttering the majority of its customer service locations around the country. It appears that becoming digital is the plan. Standard bank credit cards will be examined in depth in this article, as well as their competitive benefits and disadvantages. We’ll dig deeper into the features, prices, and conditions of each regular bank credit card.

Types of Standard Bank Credit Card

Individuals can choose from four credit cards issued by Standard Bank: Gold, Blue, Platinum, and the Diners Club Credit Card. Each sort of Standard Bank Credit Card will be compared to similar tier credit cards from other South African banks.

Standard Bank Credit Card Fees 2022

Credit Card TypeMin Monthly RepaymentMonthly Service Fee
Platinum3%R94.00
Gold3%R54.00
Blue3%R40.00
Diners Club3%R80.00
Standard Bank Credit Card Fees 2022

How to qualify for Standard Bank Credit Card?

To qualify for a standard bank credit card you need to be above the age of 18 years, legally resident in South Africa, gainfully employed, earning at least R5000.00 and having a good credit score.

Standard Bank Platinum Credit Card

The Standard Bank Platinum credit card is a premium black card accessible to customers with a monthly income of R58,000.00 or above. It is one of South Africa’s most renowned black cards. It has a lower monthly service fee of R97.00 when compared to its competitors. You will be assigned a personal private banker to whom you will have access at all times. From applying for a mortgage loan to receiving a new card, your private banker will help you with all of your banking needs. A credit limit of R250,000.00 is available with this card. The Platinum Credit Card comes with a number of benefits and fees.

Travel benefits

  • Get up to 35% off on Emirates flights when you book through Leisure Desk
  • Enjoy up to 15% off your next car rental when you book with Avis
  • Rent a car with Gold Plus rewards from Hertz and get up to 10% at participating Hertz locations worldwide
  • Get 20% off trips in the Middle East and Africa using the Careem cab-hailing app
  • Access handpicked experiences and offers in cities around the world with Priceless Cities

Lifestyle benefits

  • Book a treatment at Health Spa retailers and get 10%* off your Health Spa voucher when you pay with your credit card
  • Get 10%* off when you swipe your card  in-store at Hirsch’s
  • Get 10%* off on selected properties on Hotels.com when you book accommodation
  • Spend R300 or more at A place to Shop and get up to 10%* off
  • Get 10%* off when you spend at least R300 on Pro Gifts using your credit card
  • Use your credit card at Gift Experience and get 5%* off your experience voucher
  • Get up to 33%* off purchases when you purchase online at Wine of The Month
  • Pay less for shipment when you buy online at thousands of U.S. online stores through MyUS
  • Get exclusive offers at 9 shopping villages in  Europe when you use your credit card
  • Buy 1GB of AlwaysOn Wi-Fi  for a once-off fee of R19 and get 11GB free*
  • Get access to food and lifestyle offers on the MasterCard Buy 1 Get 1 App
  • Earn UCount Rewards Points every time you use your credit card, no matter where you shop

Insurance benefits

  • You are covered with automatic basic travel insurance
  • Get coverage in case you’re robbed or forced by threat to withdraw cash from an ATM through the ATM Robbery Insurance
  • Get Purchase Protection and swipe your credit card with confidence
  • Optional Credit Card Protection Plan to ensure that your credit card debt is covered in case of an unfortunate event
  • Get 15%* off your AA subscription

Credit Card features

  • Chip- and PIN-enabled Mastercard credit card
  • Shop at millions of merchants and ATMs worldwide
  • 3D Secure verification for safe online shopping
  • Tap to Pay™ in-store for R500 or less
  • Link your card to the SnapScan or Masterpass apps to pay by phone
  • Manage your card on your phone, in-app, online or at our ATMs
  • Activate or disable till-point, ATM and online card functionality using our app
  • Single limit for straight and budget facilities
  • Change your credit limit on request
  • Automatic lost card protection

Fees

  • Get up to 55 days of free interest on your account if your account is paid in full.
  • 3% minimum monthly repayment
  • R94  monthly fee
  • R180 initiation fee
  • No monthly fee if bundled with a  Private Banking  account

Requirements

  • South African ID copy (or passport if not an SA citizen)*
  • A recent payslip and  3 months bank statement
  • Proof of residence not older than 3 months
  • Must earn R58 000 or more per month

Standard bank Platinum credit card competitive advantage

Your AA Subscription price for roadside assistance is reduced by 15%. This is advantageous since as a driver, you would not want to be stranded on the road without assistance. As a result, the 15% reduction comes in useful. No other bank provides a discount for roadside assistance. Banks such as Discovery will request a 5% minimum monthly payback. The Standard Bank Platinum credit card, on the other hand, requires a minimum monthly payback of 3%. When you buy a 1gig always-on data plan for R19, you get a free 11gig of always-on data.

If you have always-on network connectivity, you may take use of it and save a lot of money on data purchases.

Standard Bank Platinum credit card competitive disadvantage

A platinum debit card from Standard Bank is required to be eligible for a platinum credit card. Obviously, this is a source of frustration for most people who do not have a Standard Bank account. If you have a platinum debit card from a bank other than Standard Bank and want to apply for a platinum credit card, be prepared to receive the notice “the product applied for is unique to Standard Bank private banking customers.” In comparison to the discovery bank black credit card and FNB private client’s credit card, Standard Bank’s rewards on this credit card are relatively low.

You can’t save more than 35% with any of the platinum credit card incentives, however Discovery Bank’s customers can save up to 75% on some purchases and 100% on a gym membership. Given the amount that will be spent on this credit card, the benefits are not particularly appealing for a black card. Standard Bank Platinum Credit Card rewards and expenditure must be balanced, and it does not give away as much as it is ready to take. This card is used to pay for power and prepaid airtime. FNB, Absa, and Discovery, on the other hand, do not impose any fees for prepaid purchases made with a private banking credit card.

Standard Bank Gold credit card

The best way to begin your credit card lifestyle. Owning one of these cards does not necessitate much. To get one, you’ll need at least R5000.00. Depending on your salary, you could receive up to R250,000.00. You will obtain limit increments the more you pay your credit on or before the due date. Interest is calculated based on how much you spend.

Travel benefits

  • Get up to 35%* off on Emirates flights when you book through Leisure Desk
  • Access handpicked experiences and offers in cities around the world with Priceless Cities

Lifestyle benefits

  • Book a treatment at  Health Spa retailers and get 10%*off your Health Spa voucher when you pay with your credit card
  • Get 10%* off when you swipe your card at Hirsch’s in-store
  • Swipe your credit card for R300 or more at A Place to Shop and get up to 10%* off
  • Get 10%*off when you spend at least R300 on Pro Gifts  using your credit card
  • Use your credit card at Gift Experience and get 5% off  your experience voucher
  • Buy 1GB of AlwaysOn Wi-Fi for a once-off fee of R19 and get 11GB free
  • Get access to food and lifestyle offers on the MasterCard Buy 1 Get 1 App
  • Earn UCount Rewards Points every time you use your credit card, no matter where you shop

Insurance benefits

  • You are covered with automatic basic travel insurance
  • Get an optional Credit Card Protection Plan to ensure that your credit card debt is covered in case of an unfortunate event
  • Get 15%* off AA when you use your credit card to pay for your subscription

Card features

  • Chip- and PIN-enabled Mastercard credit card
  • Shop at millions of merchants and ATMs worldwide
  • 3D Secure verification for safe online shopping
  • Tap to Pay™ in-store for R500 or less
  • Link your card to the SnapScan or Masterpass apps to pay by phone
  • Manage your Gold Credit Card on your phone, in-app, online or at our ATMs
  • Activate or disable till-point, ATM and online card functionality using our app
  • Single limit for straight and budget facilities
  • Change your credit limit on request
  • Automatic lost card protection

Fees

  • Get up to 55 days free interest if your account is paid in full
  • 3% minimum monthly repayment with an automatic payment option
  • R54 monthly fee
  • R180 initiation fee

Requirements

  • Sign in to your Internet Banking profile to apply online
  • South African ID copy (or passport if not an SA citizen)*
  • A recent payslip and 3 months bank statement
  • Proof of residence not older than 3 months
  • Must earn R5 000 or more per month

Standard Bank Gold Credit Card Competitive advantage

This card includes an optional credit card debt protection plan, which is unusual for a gold card. The gold credit comes with free automatic lost card protection. As a result, once you declare that your credit card has been lost, you will not be held accountable for any subsequent transactions. You can enable or disable specific card features, such as atm functionality, giving you more control over your credit card without the need for a consultant’s assistance. If you already have a Gold Debit Card, you can easily apply for a Gold Credit Card through the normal bank mobile app, and your card will be delivered to you without the need to visit the bank.

Standard Bank Gold Credit Card Competitive Disadvantage

Standard bank doesn’t allow a discount for a Gold Credit Card if you have a fixed arrangement with the bank due to loss of income. The minimum income requirement for a gold credit card is R5000, which is R2000 higher than the minimum income requirement for a Capitec bank gold credit card. The rate of interest on this account is determined by your credit score. As a result, consumers with a low credit score will have to pay a higher interest rate.

Standard Bank Blue credit card

Customers who want a simple credit facility might apply for the Standard Bank Blue Credit card. This card does not have any added loyalty features or perks. Standard Bank has made it simple for people who desire a credit facility that does not require any additional or complex alterations. Standard Bank blue credit card may be what you’re looking for if you’re seeking for a’regular’ credit card. With monthly service fees as low as R40.00, it’s no surprise that this card is popular among the working class.

To qualify for this card, you must earn a minimum of R5000.00 per month and have a decent credit score. The highest credit limit on the card is R250,000.00. This card has individualized interest rates, so the less you use it, the lower your costs will be.

Insurance Benefits

  • Credit Card Protection Plan provides you with the peace of mind that, regardless of an unfortunate event, any credit card debt you may have will be covered. (Optional)

CARD FEATURES

  • Chip- and PIN-enabled Mastercard credit card
  • You can use your Credit Card at millions of merchants and ATMs worldwide – and to shop securely online.
  • 3D Secure verification for safe online shopping
  • Tap to Pay™ in-store for R 500 or less
  • Link your card to the  SnapScan or Masterpass apps to pay by phone
  • Manage your card on your phone, in-app, online or at our ATMs
  • Activate or disable till-point, ATM and online card functionality using our app
  • Single limit for straight and budget facilities
  • Credit limit changes on request
  • Automatic Lost Card Protection

Fees

  • R40.00 monthly fee
  • Initiation fee of R175.00
  • Get up to 55 days of free interest on your account if your account is paid in full.
  • 3% minimum monthly repayment with Automatic Payment Option

Requirements

  • South African ID copy (or passport if not an SA citizen)*
  • A recent payslip and 3 months bank statement
  • Proof of residence not older than 3 months
  • Must earn R5000 or more per  month

This is probably the best low cost credit card in South Africa. Not much is charged on transactions and you pay way too low monthly fees

Standard Bank Titanium Credit Card

One of the most well-known credit cards in South Africa is the Standard Bank Titanium credit card. Rewarding hasn’t gone this crazy on credit cards previously, according to professionals and graduates. Those in their teens enjoy putting money down for a gorgeous dream home or a good car. This is made possible by the Titanium credit card, which offers a comprehensive variety of features that allow customers to save money by accumulating points. The monthly service cost for this card is R74.00. To be eligible, you must earn at least R25,000.00 each month.

The standard bank titanium credit card, which is best suited for graduates and professionals, combines saving with smart rewards. This card can be used to gain a variety of incentives. You will get greater value for your money if you can balance your spending with your rewards.

Travel Benefits

  • Up to *35% off on Emirates flights (T&Cs apply) when you book through Leisure Desk
  • Enjoy up to 15% off your next rental when you book with Avis
  • Rent a car, hassle-free with Gold plus rewards from Hertz, get up to 10% off best publicly available rates at participating Hertz locations worldwide
  • Get 20% off trips in the Middle East and Africa using the Careem cab-hailing app
  • Find a key to your city with Priceless Cities; access handpicked experiences and offers in cities around the world
  • Lifestyle benefits
  • Book a treatment at the Spa with your credit card at  Health Spa retailers and get 10% off your Health Spa voucher
  • Get 10% off when you use your credit card at Hirsch’s
  • 10% off when you shop at “A Place to Shop” using your credit card.
  • Get 10%off when you spend at least R300 on “Pro Gifts “ using your credit card
  • Use your credit card at Gift experience and get 5% of your experience.
  • Get up to 33% off purchases when you purchase online on Wine of The Month. T&Cs apply
  • Buy 1GB of AlwaysOn Wi-Fi for a once-off fee of R19 and get 11GB FREE. 1GB per month, valid for 12 months
  • Access to food and lifestyle offers on the MasterCard Buy 1 Get 1 App

Insurance benefits

  • You are covered with basic travel insurance
  • Your ATM bodyguard. Get coverage in case you’re robbed or forced by threat to withdraw cash from an ATM with ATM Robbery Insurance
  • Shop with confidence in case of theft or accidental damages of purchases, your card has your back through Purchase Protection
  • Credit Card Protection Plan provides you with the peace of mind that, regardless of an unfortunate event, any credit card debt you may have will be covered. (Optional)
  • Use your credit card to pay for your AA subscription and get 15% off.

Card features

  • Chip- and PIN-enabled Mastercard credit card
  • You can use your Credit Card at millions of merchants and ATMs worldwide – and to shop securely online.
  • 3D Secure verification for safe online shopping
  • Tap to Pay™ in-store for R 500 or less
  • Link your card to the  SnapScan or Masterpass apps to pay by phone
  • Manage your card on your phone, in-app, online or at our ATMs
  • Activate or disable till-point, ATM and online card functionality using our app
  • Earn UCount Rewards for using your card
  • Single limit for straight and budget facilities
  • Credit limit changes on request
  • Automatic Lost Card Protection

Fees

  • Get up to 55 days free interest on your account if your account is paid in full.
  • 3% minimum monthly repayment
  • R 74.00 monthly fee
  • No monthly fee if bundled with a  Prestige Banking account
  • Initiation fee of R 175.00

Requirements

  • South African  ID copy (or passport if not an SA citizen)*
  • A recent payslip and 3 months bank statement
  • Proof of residence not older than 3 months
  • Must earn R25 000 or more per month (OR hold a tertiary education degree).

Standard bank titanium credit card competitive advantages

The Standard Bank Platinum credit card has an R25,000.00 minimum income requirement, which is lower than the R28,000.00 income requirement of the FNB Premier credit card. The monthly cost for this account is regular, as it is for many other credit cards in the same category. You must repay 3% of the balance each month for a discovery gold credit card and 5% of the balance per month for a discovery platinum credit card.

Standard Bank Titanium credit card competitive disadvantages

With Standard bank prestige banking, applying for an overdraft can take longer than intended. A user’s outcry that they can’t get in touch with their dedicated private banker isn’t going unnoticed. One standard bank titanium credit card holder, with further information from hellopeter, reported that reactivating their titanium credit card was never successful, and that they had to look for credit elsewhere.

Standard Bank Diners Club Platinum Credit Card

Standard Bank has teamed up with Diners Club to bring us this fantastic credit card. If you travel frequently, you will appreciate the many amazing bargains that come with this card if it isn’t too much for you to handle. This card is rather exclusive, and if you do not make R500,000.00 or more per year, you will be unable to obtain one. Those earning more than R500,000.00 per year can apply for this card and pay only R80.00 per month in service costs. This card’s interest is individualized, so don’t be a poor spender or you’ll end up paying a lot of money in interest.

Standard bank assures that you earn R500,000.00 or more per year on this credit card by ensuring that your tax returns reflect this. If you earn R500,000.00, you can afford to accept this card if you pay roughly more than R110,000.00 in income tax. Make sure that your credit score is good or exceptional before applying for this card so that your credit application is not turned down.

Travel Benefits

  • Access to pre-arranged Airport Transfers and Meet & Greet: members get exclusively negotiated rates for transport to the airport and fast-tracking of airport check-ins and arrivals for international flights. (Available at all major South African airports).
  • Access to over 1000 airport lounges around the world in over 131 countries and 501 cities using ONE CARD (At some larger airports – access to multiple alliance lounges available to visit for convenience of access).
  • Complimentary express spa treatments at O.R. Tambo (International departures) – Letsema manicures, pedicures, back & foot massages & Cape Town (Domestic departures) – Yemaya manicures & pedicures.
  • Flight discounts with Emirates (30% off economy flights, 30% off first class flights and 35% off business flights excl. airport taxes on any international roundtrip airfare).
  • Avis Club – Priority service, Car rental upgrades & discounts via automatic “Avis Preferred Plus” status through Diners Club and International discounts.
  • Ease of access to Forex via Concierge: using Travelex, where they deliver at any business address and residential address (special approval in place) anywhere in the country.
  • Access to International networks of Diners Club via Diners Club International App with its network of global partners.
  • The Diners Club Travel Tools mobile app has information on airport lounge locations and the latest Privileges offers.
  • Rewards Programs that allow you to earn and redeem miles on flights and accommodation with either ClubMiles, BA Avios or SAA Voyager.

Lifestyle Benefits

  • Complimentary Lifestyle Concierge Service.
  • Sporting lifestyle needs i.e. Golf Club benefits including discounts at golf shops, Signature & Signature Golf Magazines.
  • Invitations to lifestyle experiences aimed at enhancing the overall quality of your life.
  • Invitations to Connoisseur events such as wine, whiskey, coffee, olive products, chocolates.
  • Special offers through the Diners Club International network of privileges.
  • Access to partner restaurants of Diners Club network and 50 Worlds Best Restaurants and special offers in place for occasions.
  • Access to special offers through Diners Club Winelist award-winning restaurants.
  • Wine of the Month – Preferential rates with Wine of the Month as part of the Diner Club Wine Club.
  • Exclusive members-only Signature Magazine covering content related to Travel, Business, Wine & Dine, Motoring, Style, Property, Well-being, Golf.
  • Access to over 30 partners across Travel, Lifestyle, Entertainment and Retail partners.
  • Earn & Redeem your ClubMiles on the online ClubStore for:
  • Occasions Hampers & Gifts.
  • Conversion to vouchers to use at lifestyle stores associated with Diners Club.
  • Global Complimentary Access to over 65 million WiFi hotspots accessed via Diners Club Travel Tools App.

Insurance Benefits

  • Get Complimentary Phase 1 Travel Insurance with every public conveyance ticket purchased using your Diners Club card (be it air, road or rail, local & International medical and related expenses included).
  • You are also automatically insured and get immediate replacement of lost or stolen cards.
  • Credit Card Protection Plan  provides you with the peace of mind that, regardless of an unfortunate event, any credit card debt you may have will be covered. (Optional)

Card features

  • Account issued within 48 hours
  • 55 days’ interest free
  • Free secondary cards
  • Real-time Transaction updates and notifications
  • Statements Online/E-mail/Post
  • 24/7 Customer Service
  • Quick and easy Card Replacement
  • No initiation fee charged for new card & loyalty programmes
  • The Diners Club Platinum credit card is also accepted at POS, ATM, Online and on various digital platforms like MasterPass.

Fees

  • Monthly Fee:   R80.00per month.
  • Minimum Annual Income: R500 000
  • Credit Limit: Personalised
  • Interest Rate: Fixed
  • Minimum Monthly repayment: 3%
  • Primary Card: R840 (Free secondary cards)

Requirements

  • Certified South African ID copy or valid passport (if not SA citizen)
  • Residential address verification (utility bill not older than 3 months)
  • Latest copy of income tax return (IRP5) or
  • 3 months original bank statements, if copies they must bear a bank stamp and not print outs from the internet (if no salary advice available)
  • Tax number / SARS Payslip / salary advice
  • If living with another person and has no proof of residential address, an Affidavit from other person confirming that applicant resides with them and the nature of the relationship

Diners Club credit card competitive advantages

The insurance on the Diners Club credit card covers both the credit card and any money taken from it if it is stolen. One Diners Club credit card holder’s credit card was used to make an R35000 purchase. Diners Club replaced the card with a new one that had the debt paid off. The ability to expedite airport check-ins and negotiate rates for transportation to and from the airport is one of the best benefits of the diners club credit card. This is a feature that the Nedbank SAA Voyager Credit Card does not offer.

You’ll be invited to connoisseur events and lifestyle experiences, giving you more bang for your buck in terms of trying new things and meeting new people.

Diners Club Credit Card competitive disadvantages

Customer help centre is of little to no use at times and consultants are generally unable to help in most of the issues. Maybe diners club can learn a few tricks about customer service from Nedbank American Express credit division team who are doing way better than diners club when it comes to service delivery. Card cancellation was a hassle for me, it can take up to two weeks to cancel the card.

Standard Bank Credit Card Application

  • Select your credit card choice
  • Make sure your choice matches the minimum income requirement
  • Must have a South African ID
  • Be 18 years or older
  • Have proof of income /payslip not older than 3 months
  • Have a bank statement showing income for 3 months. If you have a transactional account with Standard bank then there is no need for a bank statement.
  • Use your mobile app to apply for a credit card or
  • Visit your nearest standard bank branch to start your application with assistance from a consultant.

Conclusion

Standard bank offers a variety of credit cards to its customers, each with its own set of benefits and drawbacks. Before you apply for a credit card, you should first learn about the many types of credit cards available. This will assist you in determining whether or not you want the credit card and will allow you to compare it to other similar credit cards offered by other institutions. Different banks provide different incentives. Standard bank rewards may be appropriate for your lifestyle spending, and you can be rewarded for already living your life.

When choosing a credit card, consider the benefits that come with it and whether or not they can be used with maintaining your current lifestyle. It’s pointless to have a credit card that rewards you for frequent travel if you don’t travel regularly; it’s just not worth it. Instead, get a credit card that allows you to save on everyday expenses like gas and food so you can get the full benefits of your expenditure. Your credit card selection should be influenced by your spending habits.

Credit Card Tips

  • Take credit that you can afford.
  • Use your credit wisely so don’t overspend
  • Make debit order agreements
  • Keep your credit score healthy
  • Avoid making too much credit

 

Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted at lethabo@rateweb.co.za

Published by
Lethabo Ntsoane