Discovery Bank Platinum Suite Credit Card Full Review

The credit card with rewards in miles and exclusive discounts!

The Discovery Bank Platinum is an intermediate and premium credit card from the brand that manages to offer an optimized financial experience in the short and long term, along with international perks, unlimited savings accounts, a flexible credit line, miles rewards, and discounts for travel and lifestyle purchases.

Discovery Bank offers different cards in its credit line, and the Platinum is an intermediate version that provides efficient management with financial advice and real-time currency conversion for international purchases.

Moreover, the card, with a customizable credit limit for each situation, offers premium management for the client’s personal or even professional life, making it a comprehensive option for peace of mind and security in daily activities.

However, to qualify for the card, one needs to have an annual income between R350,000 and R850,000, emphasizing its high-income card nature.

Therefore, if you believe you meet the conditions for the Discovery Bank Platinum, continue reading more about the card.

How Does the Discovery Bank Platinum Credit Card Work?

Discovery Limited is a South African company that has been operating in the financial services sector since the 1990s, providing services such as insurance, asset management, investments, and employee benefits through partnerships with various brands.

As a result, it offers different banking plans, life insurance, investment options, home and auto insurance, and health promotion, in addition to health insurance for individuals and businesses.

Another essential service from the brand, specifically from Discovery Bank, is the provision of credit cards. In this regard, it offers different card tiers, such as Gold, Black, Purple, and the Platinum card itself.

The Platinum card is operated under the Visa Platinum brand and is designed for individuals with an annual income between R350,000 and R850,000, with a monthly cost of R269. To apply for it, there is no need to be a customer of other bank services, as the client creates a card account specifically for the Platinum card.

Accepted internationally, the credit card allows for comprehensive financial management through both physical and online purchases, with complete control provided through Discovery’s digital tools.

Additionally, the card offers extra services such as Forex for international currency conversion and Vitality Money for financial analysis.

What are the Discovery Bank Platinum Suite Credit Card Benefits?

The card comes with a range of general loyalty benefits and discounts, such as:

• Up to 60% off on domestic flights
• Up to 50% cashback on healthy food and healthy care purchases
• Personalized interest rates
• Comprehensive and real-time financial insights through digital services
• Rewards for referring friends
• Free and unlimited virtual cards
• Advanced technologies for card security

The card also offers exclusive travel benefits:

• Free international travel insurance
• International coverage for lost luggage

The credit card also allows for the accumulation of miles through direct purchases or qualified challenges. Clients can exchange these miles for cash. Additionally, they can make discounted purchases, including:

• Up to 15% off at over 40 Discovery partner businesses
• Up to 15% off on purchasing prepaid phone, water, or electricity data

Platinum cardholders also have access to Forex, a real-time currency conversion system that allows for savings when buying dollars, pounds, or euros. The Platinum card also provides access to Vitality Money, a financial planning app.

Additionally, the card provides a range of other benefits, as the list is quite extensive, and it’s worthwhile to take the time to understand all the options.

Possible Drawbacks

The drawbacks of the card are related to its intermediate nature as platinum. In this regard, the high annual gross income requirement excludes some of the potential applicants. At the same time, individuals with higher financial needs may not find the Platinum as the best option and may prefer a more robust card, even though the Platinum is efficient.

How do I apply for the Discovery Bank Platinum Suite Credit Card?

The application process for Discovery Bank is not the most intuitive on the bank’s platform and website. Therefore, it’s important to understand all the conditions and the step-by-step approval process for the card.

Written by

Gabriel Gonçalves