The Standard Bank Gold Credit Card offers a credit limit of up to R250,000.00. To be eligible for this card, you must have a minimum monthly income of R5,000.00.
The Standard Bank Gold Credit Card entails a monthly service fee of R63.00 and a one-time initiation fee of R180.00 that is required prior to activating the credit card.
Interest rates on this credit card are tailored to individual profiles and can reach up to repo rate + 14%.
Apart from the fees mentioned earlier, the Standard Bank Gold Credit Card also incurs additional charges. We will now delve into a comprehensive breakdown of these fees as follows.
Standard Bank Gold Credit Card Fees 2024
| Fee Type | Fee Amount |
|---|---|
| Withdrawals | |
| Cash withdrawal at ATM | R2.40 per R100 or part thereof |
| Cash withdrawal at branch | R80 + R3 per R100 or part thereof |
| Quasi Cash & Cash advance on casino chips purchases | R2.80 per 100 max R80 or part thereof |
| Other banks ATM cash withdrawals | R2.40 per R100 |
| International cash withdrawals | R3 per R100 (min R70) or part thereof |
| Deposits | |
| Cash deposits at ATM | R1.40 per R100 or part thereof |
| Notes cash deposit at branch | R80 + R3 per R100 or part thereof |
| Coin cash deposits at branch | R80 + R15 per R100 & part thereof |
| Notes and coin deposit at branch | R80 + R3 per R100 + R15 per R100 & part thereof |
| Payments | |
| Inter-account transfers (Online) | R4 |
| Inter-account transfers (Branch) | R80 |
| Account payments (Online) | R9.50 |
| Account payments (Branch) | R80 |
| Payment confirmation SMS | R1 |
| Payment confirmation Email | R1.50 |
| Payment confirmation Fax | R22 |
| Card Benefits | |
| Point Of Sale (POS) Purchase only | Free |
| Purchase with cashback | R1.40 per R100 or part thereof |
| Cashback only | R1.40 per R100 or part thereof |
| Prepaid recharges | |
| – Prepaid airtime, SMS, data (ATM or online) | R0.60 |
| – Prepaid electricity | R1.60 |
| Information Fees | |
| ATM balance enquiry – no slip | Free |
| ATM balance enquiry – with slip | R1 |
| Branch balance enquiry | R18 |
| Other banks ATM balance enquiry | R10 |
| Voucher retrieval – local | R90 |
| Voucher retrieval – international | R290 |
| ATM provisional statements | R7.50 |
| Branch provisional statements | R50 |
| Transaction history (charged per 30 day period) | R50 |
| Penalty Fees | |
| Honouring fee* | R145 |
| Default administration fee* | R65 (after 60 days of delinquency) |
| Late payment fee* | R170 |
| New Card Fees and Delivery Fees | |
| Initiation fee | R190 |
| Card replacement fee – Local | R170 |
| Express delivery (to branch or face-to-face) | R500 (Signature & Private Banking free) |
| Face-to-face card delivery | Free |
| DSV Locker delivery | Free |
| Branch delivery | R180 |
Benefits of The Standard Bank Gold Credit Card
- Travel Benefits:
- Receive up to 20%* off on Emirates flights when booked through Leisure Desk.
- Access exclusive experiences and offers worldwide with Priceless Cities.
- Get up to 10%* cash back on Booking.com bookings made with your Credit Card.
- Enjoy discounts on luggage purchases at Gopals.
- Car Rental Discounts:
- Receive up to 10% discount on car rentals through Rentalcars.com and Budget car rental, and up to 20% off with Avis.
- Flight Discounts:
- Avail up to 20% off on flight prices globally when booking through Travelstart with your Credit Card.
- Hotel Discounts:
- Get 15% discount on IHG Hotels & Resorts in select regions when booked at IHG.
- Lifestyle Benefits:
- Enjoy discounts on various products like wine, coffee, and olive oils with Wine-of-the-Month Club.
- Access food and lifestyle offers through the Priceless Specials MEA App.
- Earn more UCount Rewards Points every time you use your qualifying Credit Card.
- Receive discounts on Lingokids subscriptions and other services.
- Avail discounts on medical procedures and surgeries with Medical Tourism Concierge.
- Insurance Benefits:
- Automatic basic Travel Insurance coverage.
- Optional Credit Card Protection Plan for peace of mind regarding outstanding balances in case of unforeseen circumstances.
Competitive Advantages of the Standard Bank Gold Credit Card
- Earn rewards with every purchase through the UCount Rewards program.
- Enjoy a 55-day interest-free credit period when you pay your balance in full and on time each month.
- Easily manage payments using SnapScan, MasterPass, ‘Tap and Go’ mobile banking, and internet banking.
- Accessible to many South Africans with a gross income requirement of R5,000.00.
- Includes lost card protection to safeguard against liability for fraudulent transactions post loss or theft.
- Offers a high credit limit of R250,000.00, one of the highest among first-tier credit cards.
- No charges for purchases made at Point of Sale terminals.
- Provides travel insurance for those using the card to buy flight tickets.
- Offers numerous discounts at various stores and online shops.
Competitive Disadvantages of the Standard Bank Gold Credit Card
- The credit card doesn’t have free transactions and charges for almost every action that you perform with the credit card except for balance enquiries and point of sale purchases.
- The credit card has a high international transaction fee which is 2.75% for every transaction that you make plus other applicable charges/fees.
How to qualify Gold Credit Card
- Minimum monthly income of R5,000.00 or higher.
- Age requirement: 18 years or older.
- South African applicants must provide either a South African ID book or Smart card, while non-South African citizens need to present a valid passport.
- For non-Standard Bank customers, a recent 3-month bank statement demonstrating income is required.
- Proof of residence not older than 3 months from the application date.
- Submission of the most recent payslip.
Conclusion
The Standard Bank Gold Credit Card offers a comprehensive range of benefits, including global acceptance, enhanced security features, flexible payment options, and attractive rewards programs. With a high credit limit and various discounts, it caters to diverse financial needs while providing peace of mind through insurance coverage and protection against fraud. Its accessibility criteria make it attainable for many individuals, making it a versatile and valuable choice in the realm of credit cards.
