The power of a credit card can be the difference in the lives of thousands of people, as it has a greater ability to purchase, obtain benefits and build a good credit score, with more margin to enjoy for long periods of time.
Now, on the other hand, people who like to travel, have high monthly incomes and high expenses too, need a specific credit card, which can include a high credit limit and great travel facilities, including discounts on airline tickets, accommodation, car rental and much more.
In that case, the Platinum Credit Card is the most suitable. If you are a professional or have a graduate degree, or even have a high monthly income and love to travel, this credit card will supply what you need. The time has come to take advantage of the best opportunities when traveling and in leisure time.
Are you ready to find out all about Platinum Credit Card? We will explain how this amazing card works, its main advantages and some problems that may arise. Read on to find out how to apply and other important information as well.
Platinum Credit Card
Enjoy up to R250,000.00 in credit Get up to 55 days of interest-free shoppingHow does the Platinum Credit Card work
The Platinum Credit Card is a complete card designed exclusively to deliver impeccable benefits to its holders. This credit card is primarily designed for those who have a higher spending budget compared to the average South African.
In addition, as it is a private bank card, you also have a dedicated private banker and a team of financial experts who will be at your disposal at no additional cost – only paying the monthly service fee of R94.00.
If you’re thinking about having this amazing credit card in your wallet, you need to know that it only allows approval for those who earn at least R58,000.00 per month – giving you, if approved, a limit of R250,000, 00 Another point to note is its one-time initiation fee of R180.00 which you will have to pay.
Another good side of the Platinum Credit Card is the personalized interest. In this modality, the advantages are great if you make the monthly payment of the outstanding balance – if you do this, your interest will be zero.
Advantages of using the Platinum Credit Card
The Platinum Credit Card is here to deliver you a sea of benefits and advantages that can give you greater credit power to buy or save even more, in addition to enjoying the benefits of pods, leisure and lifestyle – all full of discounts. Learn about some of the main advantages of this credit card:
- Get up to 55 days of interest-free shopping
- Enjoy up to R250,000.00 in credit
- Get up to 35% off Emirates flights when you book through ‘Lazer Desk’
- Get up to 15% off your next car rental when you book with Avis
- Get up to 10% off when booking accommodation through “hotels.com”
- Get access to the ‘Cafe Blue’ lounges in OR Tambo and Bidvest lounges
- Get basic automatic travel insurance up to R1,000,000.00
- Get 10% off when you spend R300.00 or more at “A Place to Shop”
- Get up to 33% off your purchases when you buy online at ‘Wine of the Month’
Once you have the Platinum Credit Card in your hands, you will be able to enjoy all this and more. The advantages of having this card are practical and especially for those who think of taking advantage of many discounts to enjoy a life full of advantages in air tickets, accommodation, car rental and much more.
Cons of Using the Platinum Credit Card
The Platinum Credit Card is known for the high benefits and comfort it provides to its holders. However, we need to point out here that it comes with some negative points that can affect your experience.
The first is the fact that it has a high international transaction fee, reaching 2.50%, one of the highest in the credit card market. In addition, it also tracks many other transaction fees that can weigh on your pocket.
All this not to mention that agency fees are also high and, in some cases, are more than 8 times the amount charged for online transactions.
Fees for the Platinum Credit Card
Platinum Credit Card fees need to be analyzed and considered, as they can weigh or affect the cardholder’s monthly budget. Check out some of them:
- Monthly service fee – R94.00
- Initiation fee – R180.00
- International transaction fee – 2.50%
- Cash deposits at Standard Bank ATM – Free up to R3000.00, thereafter R10.00 per R1000.00
- Cash deposits at Standard Bank Branch -R18 per R1000.00
- Online inter-account transfers fee – R4.00
- Branch inter-account transfers fee – R75.00
If none of this weighs on your pocket, you can go ahead and secure your Platinum Credit Card.
Conclusion
The Platinum Credit Card offers an array of exclusive benefits tailored for high-income individuals who love to travel and indulge in luxury services. With its high credit limit, personalized financial services, and extensive travel and shopping discounts, it is an ideal choice for those seeking premium financial products. However, it’s important to be aware of the associated fees, especially the high international transaction and agency fees.
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