Thus, it is possible to pinpoint that the Standard Bank Gold Credit Card offers an array of lifestyle, travel, and insurance services at a comparatively low fee, which will attract numerous customers.
This card has too many benefits for a frequent traveler: whether you are a budget traveler, a gourmand, or a person who likes to accumulate rewards points. It might be the right time to look into Standard Bank Gold Credit Card and its main characteristics and perks so that you can finally decide that it is for you.
Key information about the credit card
How does the annual fee work?
As with most bank gold credit cards, there is the feature of monthly fee which is R63 in the case of the Standard Bank Gold Credit Card. This fee can be another key component to look at since it is part of the disclosed charges which contribute to the maintenance and service related to the card. Cumulatively, this translates to R756 in a year which though relatively cheap can be paid due to immense benefits and services offered.
How is the credit limit determined?
The credit limit for the Standard Bank Gold Credit Card is fixed at R250 000: a rather high limit, which tops the market average and allows for versatile use across various credit limit categories. This limit is usually reached depending on the credit status of the cardholder and his or her ability to pay as well as his or her total income.
Advantages of the credit card
- Travel discounts: It offers the saver fares that enables passengers to get up to 20% off on Emirates flights and comes with basic travel insurance cover.
- Exclusive offers: Right to use Priceless Specials, such as meals, fun, etc.
- Booking. com cashback: Such a company can make up to 10% cash back when booking through Booking. com.
- Shopping perks: Cheap deals of ProGifts, Check luggage, car rentals and Check various other online deals.
- Reward points: Receive 3X the UCount Rewards Points on all your transactions.
Standout advantage
In this regard, the Standard Bank Gold Credit Card is characterized by the following key benefits: Customers holding a Leisure Desk can be able to get a discount of up to 20% on Emirates flights in addition to free basic travel insurance cover whenever they book with the service.
Disadvantages
- Monthly fee: The R63 monthly fee is a disadvantage for some users when choosing between the R72 per year.
- Creditworthiness requirement: The card is not conveniently located for people with a bad credit record.
- Limited fee waiver options: Some of the cards have provisions where the said fees are rebated back, provided the user makes certain spends; this is not the case with this particular product.
A standout disadvantage
There is, however, one major drawback to using the Standard Bank Gold Credit Card, and that is the fact that the monthly fee on the credit card is rather expensive and stands at R63. Although this fee is reasonable due to the multitude of services offered, constant costs can be quite high for an individual who does not get to fully maximize the use of the said card.
Who can apply for this card?
Information about requirements for applying for the Standard Bank Gold Credit Card is given below: First of all, there is the provision concerning the minimum age which is 18 years. A minimum of R5 000 monthly income is also required so as to make sure that the applicants have a stable income.
Also, a favorable credit record is required because the card is not designed for consumers with a bad credit score. Proof of income is compulsory; a letter from the employer showing the applicant’s salary will suffice, otherwise the applicant needs to present bank statements; the applicant should also be a holder of a valid South African ID.
How to apply for the Standard Bank Gold Credit Card
For the website
In this case, to apply for Standard Bank Gold Credit Card one has to go to the Standard Bank website. After signing in, go to credit card tab, then in the Gold Credit Card Click on the option. Having arrived at the site, you will need to agree with the mentioned conditions and fill in an application questionnaire that contains the personal data, the phone number, and the financial data.
It is recommended that one should carefully and accurately complete all the fields that are necessary to complete in order not to face any hitch when completing the application. When completing the form, it is still possible to be asked to provide additional documents, including the identity document, proof of income and bank statements etc. The decision of the bank on your application will be communicated via email or phone depending on the decision made.
Through the app
The last of the mobile avenues for applying is through the Standard Bank mobile app. The first step is to download the application, Standard Bank from the friendly app store of your device. So, download the app and using your Standard Bank ID, get into the application. Under credit cards, go to the Gold Credit Card.
It is necessary to fill out the application where you will be asked for personal and financial information. For the supporting documents, a picture can be taken and the document uploaded. This method is easy and convenient for the users who would prefer to operate their banking affair on the go. After the submission, the response will be from the bank and the results concerning the outcome of their decision.
At the branch
For the physically inclined clients, it is always convenient to walk into any Standard Bank branch. To find a branch, you can use the bank’s website and/or mobile application. Some of the documents that are recommended to be taken while going to the branch include South African ID, proof of income, and bank statements.
When the application is made at the branch, a representative of the bank will help to complete the form and to answer to all the questions. This method also allows to explain in detail the advantages of the card to a bank representative, who for a fee will explain the peculiarities of its functioning. Once your application has been processed at the bank, they will write back to you with their decision.
