Discover the Ultimate Convenience: A Review of the Standard Bank Gold Credit Card

If you're in South Africa and looking for a credit card, check the Standard Bank Gold Credit Card. This card is handy and is packed with perks.

It comes with lifestyle, travel, and insurance benefits. Think of exclusive discounts on dining and entertainment and comprehensive travel insurance for peace of mind. 

Of course, like anything, it’s not all sunshine and rainbows. There are some downsides to consider, like monthly and initiation fees and other niggling details. 

If you want to dig deeper, stick around for the full scoop in this Standard Bank Gold Credit Card review.

Features of the Gold Credit Card

The Standard Bank Gold Credit Card has some cool features. First, it’s a Mastercard with chip-and-PIN technology, which means it’s super secure for transactions. You can use it at tons of places worldwide, both for shopping and withdrawing cash from ATMs.

And if you’re into online shopping, it’s got your back with 3D Secure verification to keep things safe.

Plus, if you’re making a quick purchase of R500 or less in-store, you can tap to pay with it.

Also, you can link it up with apps like SnapScan or Masterpass to make payments right from your phone. How convenient is that?

Managing your Gold Credit Card is a breeze, too. You can do it all from your phone, through the app, online, or at the ATM.

Worried about security? Don’t be. With this app, you can easily activate or turn off different functions of your card, like using it at the till-point, ATMs, or online shopping.

Oh, and here’s a neat feature – you have a single limit for straight and budget facilities—no need to juggle multiple limits.

Need more credit? No problem. Just request a change to your credit limit. Easy as pie.

How the Standard Bank Gold Credit Card Works

Here is how it works: If you’re already a Standard Bank account holder, getting your hands on one is a breeze. Just hop onto Internet Banking, sign in, and hit the “Borrow” section. Then, follow the prompts to see which credit card you qualify for. 

If you prefer doing things on your phone, no worries! Go to the Standard Bank App, tap some buttons, and you’ll find the option to apply for a new account under “Personal Lending.” 

And if you prefer texting, you can apply through phone banking. 

Not yet part of the Standard Bank family? No problem! You can still apply online or through your phone. Ensure you have your ID or passport, recent payslip, bank statement, and proof of residence handy. 

Oh, and something to remember: you must be raking in at least R5,000 a month to get approval. 

Pros and Cons of the Gold Credit Card

This Standard Bank gold credit card has a good side and a wrong side:

Standard Bank Gold Credit Card Benefits

Here is why the Gold Credit Card Mastercard from Standard Bank is worth considering. Firstly, you’ll enjoy personalized interest rates and a credit limit of up to R250,000.

Regarding travel, you can enjoy discounts on Emirates flights, exclusive experiences through Priceless Cities, and cashback on Booking.com bookings, among other perks. 

Then, for lifestyle benefits, you get discounts on wine and coffee, access to special offers, and extra reward points. 

Additionally, you get insurance benefits, including automatic travel insurance and optional credit card protection. With all these benefits, the Gold Credit Card is definitely something to consider.

Gold Credit Card Cons

Let’s talk about the not-so-glamorous side of the Gold Credit Card. Firstly, you’ll have to pay an average monthly fee of R63.00. 

On top of that, there’s also an initiation fee of about R180, including VAT. So yeah, just a heads up about those fees you’ll be dealing with if you consider getting this card.

Rates and Fees

Let’s discuss what you’re signing up for with our Gold credit card. First, there’s a bit of a range for service fees – anywhere from R40 to R199 each month, depending on which type of credit card you use.

Now, onto the interest rates – these aren’t one-size-fits-all. They’re personalized just for you. The lowest we go is 11.75%, which is Prime minus 0.25%. And if you’re on the higher end, it’s 22.25%, which is the Repo rate plus 14%, following the rules of the National Credit Act.

When it comes to paying back what you owe, we’ve got a minimum monthly repayment of 3% of your outstanding balance.

Oh, and before you dive in, there’s an upfront initiation fee of R180, which includes VAT—just something to keep in mind.

Requirements and Eligibility Criteria

To get a quick, free quote, here’s what you need to provide: your first name, surname, South African ID number, phone number, gross monthly income (your income before any deductions), and total monthly expenses. 

Just fill in those details, and you will get you sorted in no time. Oh, and before you hit submit, remember to check out our terms and conditions. They take your privacy seriously, so rest assured your info is safe with us and any third parties involved. 

Make sure to tick off the boxes confirming you’ve read our Privacy Statement and that you’re not facing any financial trouble like insolvency or debt review. 

You must be 18 years old and a resident of South Africa. You need a minimum income of R5,000 to qualify. 

How to Apply for a Gold Credit Card

Ready to get your hands on that Gold credit card? Great! Just head over to the Standard Bank website and follow the simple steps, or if you’d rather speak to someone directly, call them at 0860 123 000. It’s a straightforward process, and if you meet the requirements, you’ll soon have your card in hand, ready to start enjoying all the benefits it offers.

Read too