Nedbank Platinum Credit Card Full Review
The Platinum is another highly efficient credit card from Nedbank that caters to the diverse needs of the South African public!
Earn Greenbacks rewards on eligible purchases!
The Nedbank Platinum Credit Card is a highly efficient card from the South African bank that offers a customized limit and Greenbacks cashback benefits with both Mastercard and American Express logos for purchases within and outside of South Africa.
The Nedbank Platinum credit card is designed for individuals with a minimum monthly income of R29,000, providing a financial solution for various types of purchases and services.
The card features both Mastercard and American Express brands, ensuring high acceptance at establishments worldwide. The Platinum card also comes with a credit limit tailored to the bank’s customers, with the possibility of increasing the limit, provided that the conditions are met.
In this way, the Platinum card presents an efficient option for individuals with average needs in the South African market. If you believe it could be a good choice for you, keep reading.
How Does the Nedbank Platinum Credit Card Work?
The Nedbank Group is a South African financial services institution that originated in the 19th century and was brought to the country directly from the Netherlands, where the bank was founded in the city of Amsterdam. Over its more than 130 years of history, the South African Bank has incorporated various businesses and expanded its areas of operation.
Today, Nedbank offers a range of financial solutions for individuals and businesses, including bank account management, life and property insurance, asset and wealth management, as well as investments. Another significant aspect of Nedbank’s services is its credit cards, which offer different products for the South African public, with the Platinum card serving as an intermediate product to meet diverse needs within the country.
The Platinum card can be issued with either the American Express or Mastercard logo, functioning with CHIP, PIN, and contactless payment, while also integrating directly with payment apps and digital wallets. The card’s fees include a monthly service fee of R64, along with optional credit facility fees of R32 and R27 for Greenbacks linkage.
The credit card limit is based on the customer’s profile, with the possibility of expansion upon request. Additionally, the card comes with the benefit of fee-free purchases at many locations within and outside of South Africa, thanks to the high acceptance resulting from the traditional nature of these cards.
What are the Nedbank Platinum Credit Card Benefits?
The credit card comes with a range of general benefits and conveniences, including:
- Zero card delivery fee
- Full access to the Money app for card management through online banking
- Additional card for only R35
- Optional budget plans with special reimbursement rates
- Real-time transaction updates with messages
- Online card blocking, cancellation, and reactivation
Here are the travel benefits:
- Up to 12 visits to Bidvest Premier Club lounges at various airports worldwide
- Basic travel insurance of up to R3 million
- Discounts on car rentals with Hertz and Avis
The card also includes other benefits:
- 25c cashback per liter of fuel at BP with greenbacks
- Purchase protection
- Optional life insurance
The Platinum card also offers greenbacks on eligible purchases. The Greenbacks reward system brings a range of benefits, including investment and financial management consulting, as well as exclusive discounts and rewards.
Additionally, cardholders have the convenience of withdrawing cash and making purchases at ATMs and physical or online stores worldwide.
The minimum monthly income requirement for the credit card is not among the lowest. Therefore, many customers may argue that the benefits are not entirely commensurate with their monthly income, especially concerning cashback and mileage rewards. While the Greenbacks system is highly efficient and attractive, the absence of other similar services may discourage customers from opting for the Platinum card.
How do I apply for the Nedbank Platinum Credit Card?
The Platinum application process offers various channels through Nedbank, including completing the form online and personalized assistance. In any case, the first step is to fully understand the conditions for the card before initiating the application.