Everything to know about Standard Bank credit card
Standard Bank is one of South Africa’s leading financial institutions. It offers a wide range of banking and financial services to individuals, businesses, and institutions. Standard Bank provides services such as personal and business banking, wealth management, investment banking, and insurance. Let’s examine the various credit cards offered by Standard Bank, including interest rates, card features, eligibility criteria, and the benefits associated with each credit card.
How does a standard bank credit card work?
Standard Bank’s credit card services operate by granting you access to a predetermined sum of money that you can utilize, subject to your account being in good standing, up to a specified limit. Subsequently, you are required to repay the borrowed funds within a specified timeframe.
What are the types of credit cards available at Standard Bank?
Below are the various types of credit cards offered by Standard Bank
1. Gold Credit Card
The gold credit card offers customized interest rates and requires a minimum monthly income of R 5000 for eligibility. It has a monthly charge of R 63 and provides a credit limit of up to R250000.
2. Titanium Credit Card
Gain exclusive perks for a budget-friendly monthly charge of R89 with the Titanium Credit Card. This card offers a credit limit of up to R250000 and a tailored interest rate. A minimum monthly income of R250,000 is necessary to qualify.
3. Platinum Credit Card
With the Platinum card, you can enjoy top-tier private banking services and a range of advantages. It has a monthly charge of R108, alongside a required minimum monthly income of R 58000, personalized interest rates, and a credit limit of R 250 000.
4. Diners Club Platinum Credit Card
The Diners Platinum credit card offers travel and insurance perks. With an annual income of R500,000, you gain access to a range of travel offers.
5. Diners Club Shari’ah Charge Card
Referred to as the first Shari’ah-compliant Charge Card in South Africa, this card provides access to numerous travel and lifestyle perks. It comes with a monthly fee of R128. Enroll in Diners Club ClubMiles* to earn miles effortlessly by utilizing your card both online and in physical stores.
6. World Citizen Credit Card
Standard Bank also provides the World Citizen Card, which comes with travel and lifestyle perks, offers a credit limit of up to R250,000, a monthly card fee of R209, and personalized interest rates.
7. Blue Credit Card
The blue credit card offers you access to a budget-friendly credit option, requiring a monthly card fee of R40 and a minimum monthly income of R5000 to be eligible. With this card, you can access funds of up to R250000.
Requirements for a credit card application at Standard Bank
To get a credit card , you’ll need to have the following:
- Original SA ID document
- Latest salary slip
- A bank statement showing your latest 3 consecutive salary deposits
- A monthly income of atleast R 5000 depending on the card type
Card Benefits
Below are some of the benefits you’ll enjoy with Standard Bank Credit Cards:
- Get 15%* off purchases when you purchase online at Wine-of-the-Month Club
- Access handpicked experiences and offers in cities around the world with Priceless Cities
- Enjoy up to 20% off flight prices anywhere in the world when you visit Travelstart and book with your Credit Card
- You are covered with automatic basic Travel Insurance
- Get your Mastercard Gamer Pass to participate in one of the biggest online gaming community at Gogamers
Credit Card eligibility Criteria
The requirements vary based on the type of credit cards you’re applying for, but typically, you’ll need to:
- Be18 years or older
- A permanently employed, self-employed, earn other income or earn a pension
- Earn minimum income requirement for a credit card application is R5 000.
How to apply for the card
You can access card through:
- Internet Banking
- The Standard Bank App
- Cell phone Banking
You can get the application details in our article on How to apply and get a Standard Bank credit card in South Africa
Editor’s Remarks
In conclusion, understanding the range of benefits, eligibility criteria, and options available with Standard Bank credit cards empowers users to make informed decisions tailored to their financial needs and lifestyle preferences.
Frequently Asked Questions
The minimum payment required for a Standard Bank credit card is 3% of the outstanding balance. It’s important to ensure timely clearance of your credit card balances to avoid accumulating debt, which could ultimately lead to payment difficulties and adversely impact your credit score.
Your eligibility for different types of credit cards is determined by factors such as your monthly income, credit history, and credit score. Additional considerations may also apply. Once you successfully meet these criteria, you’ll be eligible to obtain a credit card.
You have the option to make payments with the card or withdraw cash from any ATMs affiliated with the bank.
