Categories: Banking Credit Cards News Reviews

Standard Bank Titanium Credit Card Review 2021

The Standard Bank Titanium credit card offers a balance between life and pleasure. The credit card comes with a stack of lifestyle rewards, discounts and insurance benefits that suits professionals. 

With the Titanium credit card, you get to enjoy travel benefits, such as discounts from Avis, Hertz and Leisure Desk. Furthermore, you get to shop with a high level of security whether you are shopping online or in-store. The Titanium credit card comes with a 3D secure verification and it is chip and pin enabled. 

Standard Bank Titanium Credit Card Summary

Titanium credit card is a credit card that is suitable for professionals and postgraduates. To qualify for the Titanium credit card, you need to earn R25,000.00 per month or more or earn over R5000.00 per month if you hold a 3-year undergraduate and a postgraduate degree. The Titanium credit card comes with a 55 days interest-free grace period and requires a cardholder to repay at least 3% of the outstanding balance every month. 

Interest on the Titanium credit card is personalised and ranges between the prime rate and repo rate + 14%. High-risk clients tend to be charged more interest, therefore, having a healthy credit rating is advisable to reduce interest to that which will be payable on your Titanium credit card.

 The maximum credit that one can qualify for is R250,000.00. The Titanium credit card comes with a monthly service fee of R74.00 and an initiation fee of R180.00. Credit is subject to affordability, therefore, any credit that you are awarded will depend on whether or not you will be able to repay without any personal financial burden. 

Benefits of the credit card

  1. You get up to 10% off when you swipe at least R300.00 at ‘A Place to Shop’.
  2. When you buy 1GB of ‘AlwaysOn Wi-Fi’ data you get 11GB free data.
  3. You get up to 35% off on Emirates flights when you book through Leisure Desk.
  4. You get access to food and lifestyle offers on the MasterCard Buy 1 Get 1 App.
  5. No need to pay monthly maintenance fee if you bundled the credit card with a Prestige Banking Account.
  6. The credit card comes with free automatic basic travel insurance.
  7. You get purchase protection so your credit card will be protected whenever you use it to swipe.
  8. You get 15% off your AA subscription.
  9. Book a treatment at Health Spa retailers and get 10% off Health Spa voucher when you pay with your credit card.
  10. You get 5% off when you use your credit card at Gift Experience.
  11. You get to earn UCount Rewards points every time you use your credit card regardless of where you shop.
  12. When you swipe your credit card at any Hirsch’s store you get 10% off.
  13. Discounts of Up to 15% off, on your next car rental when you book with Avis.
  14. You get 20% off on trips in the Middle East and Africa using the ‘Careem cab-hailing’ App.
  15. Get up to 10% off at participating Hertz locations worldwide when you rent a car with ‘Gold Plus rewards’ from Hertz.

Credit card Fees 2021

#Fee descriptionAmount
1Monthly service feeR74.00
2ATM deposits feeFree up to R3000.00, thereafter R10.00 per R1000.00
3Branch deposits feeR18.00 per R1000.00
4ATM cash withdrawals feeR7.50 per R1000.00
5Branch cash withdrawals feeR20.00 per R1000.00
6Cash withdrawals at other banks ATMR10.00 per R1000.00
7International ATM cash withdrawal feeR20.00 per R1000.00 plus 2.7% international transaction fee
8Cash Advance on casino chips purchases feeR2.00 per R100. Max R70
9Online inter-account transfersR4.00
10Branch inter-account transfersR75.00
11Online account paymentsR9.00
12Branch account paymentsR75.00
13Point of sale purchase cashback feeR1.40 per R100.00
14Point of sale cashback only feeR1.40 per R100.00
15Purchase only: Point of SaleFree
Titanium Credit Card Fees 2021

Competitive Advantages of the Standard bank Titanium credit card

  • The Titanium credit card comes with the ‘tap to pay ™’ function for convenience in-store payments on amounts of R500.00 or less.
  • If you are a professional or have a post-graduate degree, it is easy to qualify for the Titanium credit card.
  • You can link your card to SnapScan or MasterPass apps to pay by phone.
  • The Titanium credit card comes with 3D secure verification for safe online shopping.
  • You can change your credit limit on request.
  • No need to pay a monthly fee of R74.00 per month if you have a Prestige Banking Account.
  • You can take advantage of good interest rates by keeping a healthy credit rating.
  • Comes with basic travel insurance when you use your card to purchase flight tickets.
  • Can enjoy up to a maximum of R250,000.00 in credit, giving you high financial leverage.
  • You get numerous discounts on travel, lifestyle and insurance.

Competitive disadvantages of the Standard bank Titanium Credit Card

  • The credit card is mainly for those with degrees or those who occupy professional positions in the workplace.
  • Monthly maintenance fee has been increasing at a high percentage from year to year increasing from R40.00 in 2017 to R74.00 in 2021.
  • As a professional credit card, the Titanium credit card doesn’t have a dedicated private banker to assist you but you have access to help on online platforms or phone.
  • You are charged for using your card for almost everything except for POS purchases and ATM balance enquiry.
  • The account has a high international transaction fee of 2.75%.

How to qualify

  1. Must earn at least R25,000.00 per month or R5000.00 per month if you possess an undergraduate degree and a postgraduate degree.
  2. Have a South African ID book or copy or passport if you are not a South African citizen.
  3. A recent 3 months bank statement reflecting your income. There is no need to have a 3 months bank statement if you bank with Standard Bank.
  4. Proof of residence not older than 3 months.
  5. Recent 3 months payslips.

Conclusion

The Standard Bank Titanium credit card offers great discounts and yet more priority on billing fees for different activities that one performs with his or her Titanium credit card. As much as the Titanium credit card is meant for professionals, it doesn’t offer them freebies as you would expect from a professional credit card. 

However, the discount ranges on the Titanium credit card are exceptional and in some cases above board, therefore, Titanium credit card users get some of their money back from the purchases they make.

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Lethabo Ntsoane

Lethabo Ntsoane 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 reviews and financial tips.

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