Are you looking for a credit card that offers world-class private banking experiences and exclusive benefits? Then the Platinum Standard Bank credit card could be your choice.
Not only does this exclusive card you give you access to prestigious airport lounges and discounts at spas and hotels, but by using the card you receive discounts of up to 36% at a variety of handpicked outlets.
We’ve had a look at what the Platinum Standard Bank credit card offers, and for your convenience, we’ve summarized the information and share it with you. Read on to learn more about this card, and how you can apply for it.
Platinum Standard Bank Credit Card Features
The Platinum Standard Bank credit card offers free basic travel insurance when you book and pay with your credit card. Once at the airport you get access to selected airport lounges. You can also get discounts on a variety of services.
For online purchases at the Wine-of-the-month Club, you will get a 33% discount. Avis car rentals worldwide are 15% less and you receive a complimentary upgrade with every rental.
Your lifestyle benefits include a discount at selected spas and hotels. You also enjoy robbery and fraud insurance, purchase protection, and a credit card protection plan.
Pros and Cons of the Platinum Standard Bank Credit Card
You can get a credit limit of up to R250,000 on your Platinum Standard Bank credit card. The card also offers up to 55 days free interest on your account if your account is paid in full.
The other important pros include the already mentioned discounts at airport lounges, hand-picked spas and hotels. On international flights, you can save 35% if you book with your card.
As the Platinum Standard Bank credit card is a MasterCard, you can use your card globally wherever MasterCard is accepted. The high monthly income required might keep the Platinum Standard Bank credit card out of range for many.
To apply for a Platinum Standard Bank credit card you must be over 18 years old, a South African citizen, or have permanent residency. Approval is subject to credit checks and FICA requirements.
Your monthly income must be R58,000 or more and you must not be insolvent, under debt review (current or applied for), administration or sequestration.
How to Apply for a Platinum Standard Bank Credit Card
If you are an existing Standard Bank client, sign into your internet banking profile to apply online. Complete a Call me back form and an official of the bank will get in touch with you.
If you are not an existing Standard Bank client, complete your application online and have the following ready to add: a copy of your South African ID (or passport if not an SA citizen), a recent payslip, the last three months’ bank statements, and proof of residence and income.
Interest Rates and Fees
The Platinum Standard Bank Credit Card is a great option if you are looking for a new credit card that has lots of benefits. Make sure to consider the rates and fees of this card, which are listed below.
- Monthly service fee: R40,00
- Monthly card fee: R54,00
- Cheque deposits ATM: R55,00
- Cheque deposits branch: R55,00
- Branch post-dated cheque deposit: R135,00
- Cash deposits ATM: 1 free per statement cycle thereafter R2,30 per R100,00 or part thereof
- Cash deposits branch: R10,00 + R2,35 per R100,00 or part thereof (Minimum R45,00)
- Cash withdrawals ATM: R2,35 per R100,00 or part thereof
- Cash withdrawals branch: R55,00 + R2,35 per R100,00 or part thereof
- Cash withdrawals other banks’ ATM: R10,00 + R2,35 per R100,00 or part thereof
- Cash advance on casino chips purchases: R2,35 per R100,00 (max. R65,00)
- Inter-account transfers online: R4,00
- Inter-account transfers branch: R65,00
- Account payments online: R4,50 + 1.5% (maximum R30,00)
- Account payments branch: R65,00
- Point of Sale Purchase with cashback: R2,35 per R100,00 (maximum R65,00)
- Point of Sale Cashback only: R2,35 per R100,00 (maximum R65,00)
Standard Bank’s head office is situated at 184 Hyde Lane, Hyde Park, Sandton, Gauteng, 2196. If you prefer to speak to a bank official by telephone you can contact the bank at 0860 123 000.
If your monthly income is R58,000 or more, then the Platinum Standard Bank credit card is worth checking out. It offers excellent benefits locally and internationally.
Disclaimer: There are risks involved when applying for and using credit products. Ensure you consult the bank’s terms and conditions before agreeing to anything.