The focus of the Investec group in the area of the premium banking services and the incorporation of the Investec Private Bank Account Credit Card in the current field of the competitive offerings target rather the individual with the desire of purchasing not only the tangible financial product, but rather an experience. 

This credit card works as a subaccount within a private bank account, which makes it to have characteristics of both a transaction account and a credit card. Developed especially for the Investec Private Bank with the needs of working professionals in mind, this Investec Private Bank Account means specific services are offered by a single card while the fees are clearly spelled out.

Key information about the credit card

How does the annual fee work?

This Investec financial product offers all the other private banking services offered by the company at an all-inclusive transparent monthly fee of R635 per account holder. Top workers have been highlighted to enjoy a fee of R320 per month from organizations if they are young professionals less than thirty years old.

How is the credit limit determined?

Unlike most credit cards, Investec follows an assessment process to come up with the credit limit of its Private Bank Account Credit Card. Contrary to most of their counterparts, Investec asses each application individually; they do not solely rely on the credit scoring benchmarks.

Advantages of the credit card

• Visa Platinum Credit Card: The card also has all the privileges of Visa Platinum card such as worldwide acceptance and premium services.
• Single monthly fee: Many of its features are listed above – they are labeled by the transparent monthly fee, which enlists without hidden extras and comprises all the services.
• Daily banking convenience: The card is very useful as it supplements the routine functions of banking with accessible monetary needs and operations.
• Family accounts: In many cases, clients are allowed to be given special privileges to extend the coverage of the benefits of his/her family members, which makes the account more appealing.
• Complimentary travel insurance: The cardholders are also provided with travel insurance, to enhance on their traveling experiences.
• Dedicated bankers: Every client is attended to by a banker of his or her choice and also gets individual attention.

Standout advantage

Another interesting special attribute about the Investec Private Bank Account Credit Card is that one is entitled to complimentary lounge access without limitations. Cardholders and a guest can use more than 1100 international airport lounges through the LoungeKey service.

Disadvantages

• Monthly fee: Altogether, the fee is all-encompassing but those who do not take the full advantage of all the given services can be charged a lot.
• Exclusive requirements: The eligibility could be limiting to some or many people due to the following criteria.

A standout disadvantage

The main drawback of Investec Private Bank Account Credit Card is specific provisions. The registration is rather elaborate, and the requirements for applying can be quite demanding, which will pose difficulties when accessing certain client bases. Possessing this status can restrict the use of the card’s benefits that come with it to the privileged few.

Who can apply for this card?

The issuers of the Investec Private Bank Account Credit Card have certain requirements that applicants need to meet. Firstly the account offered is with the intention of professionals and therefore a stable and more importantly, good income is mandatory. The minimum age is usually 18 years and the young professional within 30 years enjoys a lower monthly subscription rate than normal elderly scientist.

Credit history: it is important to stress that Investec conducts certain assessments but does not rely on credits; therefore, applicants need to have a clean credit history. Mainly, the card is popular with persons of higher revenues; however, with good financial history and management skills to cope with the monthly charge. Certification of income, identification, and place of residence will be necessary when applying for the grant funding.

How to apply for the Investec Private Bank Account Credit Card

For the website

It starts with the applicant visiting the Investec site if they wish to fill the application forms online. The online application is intensive with numerous fields to fill, including identification data and details of financial status. After submission, Credit team at Investec will then scrutinize the application separately, with the rationale that the applicant is credit-worthy to access the limit they applied for.

This is quite flexible and prospective since the submission of various documents, which may be let in the course of the training, can be done online. As it comes to application process, the applicants can follow up on their applications online, thus it is quite clear and frequently updated.

Through the app

Mobile applications are also a viable way; specifically, the Investec mobile app can be used to apply for the Private Bank Account Credit Card. Once the application is downloaded, users can complete the application through their mobile phones right from the form.

A clear schematics help the applicants to go through the entire process effortlessly with the help of the application. The same way that one applies for an online program, personal and financial information are filled, together with scanned documents. This method is more advantageous with the people who like to manage their applications mobile and easily accessible.

At the branch

The online form is suitable for people who would like to contact Investec through a telephone call or a face to face meeting, and this is by visiting the branch. Applicants go to the branch, where they can address a banker who will walk them through the application. Such interaction provides an avenue for engaging in detailed discussions concerning the applicant’s finance status together with the importance of the credit card.

The banker can suggest what is best to do in terms of regulations and can also guarantee that all required documents are properly filled out. This traditional approach is most suitable because the service providers offer intensive support from the planning to the completion of the application process.