However, it has expanded its scope of business with time to start offering Woolworths financial services. This includes credit cards, store cards, and even personal loans.
Woolworths Store Gold credit card is one of these financial services. It helps you shop and enjoy rewards from Woolworths stores and other affiliate stores and products. But is it a good deal for you? Is the 2% on purchases made from Woolworths worth it?
We are about to find out. This article explores everything there is to know about the Woolworths Gold Credit Card.
Features of the Woolworths Store Gold Credit Card
Like most other credit cards, the Woolworths Gold credit card has unique features. For starters, it is a Visa card. This means you can shop and pay with it anywhere Visa payments are accepted globally.
Even better, for every purchase, you earn some rewards or cash back. This makes the card an excellent shopping whenever, wherever.
You automatically get travel insurance coverage if you are below 75 years old and buy an international air ticket using this card. Plus, the card has a lost card protection feature protecting you against fraudulent purchases on the card.
With Woolworths Gold credit card, you can request up to 8 additional cards for free. And all these contribute to your card’s Woolworths vouchers.
Additionally, this card has a mobile app that allows you to manage your account from a phone. And if you need some money, you can withdraw with this card at any ATM, anytime. Now, that’s convenient!
Lastly, as a cardholder, you enjoy the Woolworths Balance Protection. This one protects your account balances that are not in arrears in case you get critically sick, die, or get retrenched or disabled.
How the Woolworths Store Gold Credit Card Works
First, before you even get approved for the Woolworths Store credit card, you must have an income of not less than R3,000 a month. Now, this allows you to apply for the card.
Once approved, all you need is to shop like you usually do. Any purchases using this card earn you 0.75% cash back in Woolies vouchers. But if you want to earn more, shop at Woolies and receive 2% cash back on your total purchases.
The best thing about the Woolworths Gold credit card is that it doesn’t limit your shopping to SA. You can shop with the card globally as long as you look for stores with a Visa acceptance logo.
Note: The Wvouchers you earn as you shop are redeemable quarterly.
Pros and Cons of the Woolworths Store Gold Credit Card
If you are planning to apply for the Woolies Gold credit card, go through these benefits and drawbacks. It will help you establish if it’s the best credit card for you.
Benefits of Woolworths Store Card
The first benefit goes without saying – rewards. You automatically join the WRewards once you are a cardholder. Also, for every purchase you make from Woolworths stores, you receive a 2% cashback. That’s besides the 0.75% cash back for all other purchases outside Woolies.
Secondly, the card gives you peace of mind. Why? Through its Visa protection feature, any fraudulent purchases on your card are not your liability if reported within 90 days of purchase.
You are also free to request additional cards (up to 8 cards), which all contribute to the original card’s vouchers. Other benefits here include the mobile app, travel insurance, and medical services.
Woolworths Store Card Cons
The rewards are not as attractive. Other credit cards offer better rewards above the 2% and 0.75% options the Woolies Gold credit card offers.
Also, you can not redeem your rewards anytime. Redemption is made quarterly, which can be limiting for some people.
Lastly, you must have a minimum income of R3,000. Anyone with income less than this will not qualify.
Woolworths Gold Credit Card Rates and Fees
The Woolworths Gold credit card has several fees and rates. Firstly, there is a monthly service fee, which is based on when you got your card. Accounts before 6th May 2016 pay R57.50. Any account after 6th May 2016 pays R60. However, any secondary card is free.
While domestic card purchases are free, there is an international currency conversion rate of 2.5% of the purchase in Rand’s value. Also, if you make an international ATM withdrawal, you pay a fee of R80.
The card’s application fee stands at R193, while the unpaid debt order fee is R135. As for the APR on purchases, it is a variable rate that will be indicated on your pre-agreement statement.
Eligibility Criteria and Requirements
To get approved for the Woolworths Store Gold credit card, you must meet certain criteria. Firstly, you must be an adult. In South Africa, the legal adult age is 18 years and above.
You must also have an RSA ID number and at least earn R3,000 monthly. A copy of your identification documents might be required, as well as that of the latest payslips or account statements.
Woolworths Store Card Online Application Process
So, how do you apply for the Woolworths Store Gold credit card? Start by looking for their official credit card page. You should scroll down until you see the APPLY NOW button. Clicking on this takes you to the application page.
From here, enter your ID number to initiate the process. Click the “Continue” button and fill in the required details as prompted.
