A variety of banking products from Discovery Bank are created with you in mind. All the details you require regarding our selection of savings options, regular transaction accounts, cutting-edge credit cards, complete banking suites, and more are available here.
A variety of banking products from Discovery Bank are created with you in mind. All the details you require regarding our selection of savings options, regular transaction accounts, cutting-edge credit cards, complete banking suites, and more are available here.
Are you looking for a premium credit card that offers exceptional rewards and benefits? The Discovery Black Card might be the perfect fit for you. This exclusive card is designed for individuals with an annual income of R850,000 to R2.5 million, offering a range of features and benefits that cater to their lifestyle.
In this comprehensive guide, we’ll delve into the eligibility criteria for the Discovery Black Card, explore its key features and benefits, and provide insights on how to optimize your application for approval.
Eligibility Criteria for the Discovery Black Card:
- Income: You must have an annual income of R850,000 to R2.5 million.
- Credit Score: You must have a good credit score.
- Discovery Client: You must be a Discovery client with a Discovery Health or Vitality membership.
- Age: You must be at least 18 years old.
Key Features and Benefits of the Discovery Black Card:
- Superior Banking Experience: Enjoy personalized banking services, exclusive travel benefits, and world-class customer support.
- Enhanced Credit Card: Access a full-featured credit card with up to 55 days of interest-free credit on select transactions.
- Flexible Credit Facility: Manage your credit easily with the most flexible credit facility in the market.
- Real-Time Forex Accounts: Transact and save in multiple currencies with real-time exchange rates.
- Dynamic Interest Rates: Earn interest on your positive balances and enjoy lower borrowing rates based on your Vitality Money status.
- Discovery Miles Rewards: Earn Discovery Miles on your spending, healthy choices, and driving behavior.
- Travel Discounts and Benefits: Access exclusive discounts on flights, accommodation, car hire, and travel experiences.
- Lounge Access: Enjoy complimentary access to airport lounges worldwide.
- Financial Management Tools: Utilize Vitality Money tools to improve your financial health and earn rewards.
- Comprehensive Security Features: Benefit from advanced security measures to protect your transactions.
How to Optimize Your Application for the Discovery Black Card:
- Maintain a Good Credit Score: Regularly check your credit score and take steps to improve it if necessary.
- Become a Discovery Client: Join Discovery Health or Vitality to qualify for the card.
- Increase Your Income: Aim to meet the minimum income requirement of R850,000 per year.
- Manage Your Finances Responsibly: Demonstrate responsible financial management practices.
- Prepare Supporting Documentation: Gather necessary documents such as income statements and proof of address.
- Apply Online or In-Branch: Submit your application online or visit a Discovery branch for assistance.
Additional Tips:
- Consider Your Spending Habits: Ensure that you can comfortably manage the card’s annual fee and potential credit card charges.
- Review the Terms and Conditions: Familiarize yourself with the card’s terms and conditions before applying.
- Seek Professional Advice: If you have any questions or concerns, consult a financial advisor.
By following these guidelines, you can increase your chances of qualifying for the Discovery Black Card and unlocking its exclusive benefits. Remember, responsible credit card usage and financial management are crucial for maintaining a healthy financial standing.
Frequently Asked Questions:
Q: What is the annual fee for the Discovery Black Card?
A: The annual fee for the Discovery Black Card is R235 per month, which includes your monthly account fee, Vitality Money premium, single credit facility fee, and other benefits.
Q: What are the benefits of using the Discovery Black Card for travel?
A: The Discovery Black Card offers a range of travel benefits, including exclusive discounts on flights, accommodation, car hire, and travel experiences. You can also enjoy complimentary access to airport lounges worldwide.
Q: How can I earn Discovery Miles with the Discovery Black Card?
A: You can earn Discovery Miles on your spending, healthy choices, and driving behavior. The card offers up to 50% back on healthy groceries, personal care items, and baby essentials. You can also earn up to 15% back on fuel purchases and Uber rides.
Q: How can I manage my finances with the Discovery Black Card?
A: The Discovery Black Card provides access to Vitality Money tools, which help you track your spending, set financial goals, and improve your financial health. You can also earn rewards for managing your finances responsibly.
Q: Is the Discovery Black Card a good choice for me?
A: The Discovery Black Card is an excellent choice for individuals with an annual income of R850,000 to R2.5 million who are looking for a premium credit card that offers exceptional rewards and benefits. If you are a Discovery client with a good credit score and responsible financial management practices, you may be eligible for this exclusive card.
Exchange rates
The rate on the internet isnt live or current. Its the rate from some time earlier. Additionally, the online rate is an average or mid-rate rather than an accurate buy-or-sell rate.
We quote the real-time rate at the time of your transaction, which is updated every 60 seconds for the US dollar, the UK pound, and the euro, and on a regular basis for all other currencies.
You will receive an updated rate if you don’t complete your transaction within this time frame. The rate you accept at the end of your transaction is the final rate you receive.
For the US dollar, the British pound, and the euro, it is a real-time rate that is valid for 60 seconds; for all other currencies, it is subject to regular changes throughout the day.
We will provide you with a new quote every 60 seconds until the transaction is completed. When your transaction is complete, the rate you were given is the rate you agreed to.
Unfortunately, not. You receive the very competitive foreign exchange rates offered by Discovery Bank, which are applicable to each and every transaction.
We quote the real-time rate at the time of your transaction, which is updated every 60 seconds for the US dollar, the UK pound, and the euro, and on a regular basis for all other currencies.
You will receive an updated rate if you don’t complete your transaction within this time frame. The rate you accept at the end of your transaction is the final rate you receive.
You’ll receive instructions on how to accept a foreign currency payment via the Discovery Bank app when you receive one.
When you complete the exchange control information for the payment, we quote the real-time exchange rate. For the US dollar, British pound, and euro, the rate refreshes every 60 seconds; for all other currencies, it does so on a regular basis throughout the day.
You’ll receive an updated rate if you don’t accept the rate within this window of time. When your transaction is complete, the rate you were given is the rate you agreed to.
If you are making payments in the same currency from a foreign currency account, the two 5% charge wont apply. However, the purchase will be applied to the Rand account you designated for your foreign currency account fees and the two transactions fees if the payment is made in a currency for which you do not have an account. 5% charge will apply.
To make payments, you can use any of your other active Discovery Bank credit or debit cards.
Discovery Bank products
To meet every need, Discovery Bank offers a comprehensive selection of banking products, such as:
- Savings accounts. With our extensive selection of savings accounts and our industry-best interest rates, you can grow and protect your money. Browse our demand, notice, tax-free and fixed deposit savings accounts.
- Revolving Credit Facility. It is extra credit that you can use whenever you want after it is authorized.
Customers of Discovery Bank can order goods from four distinct collections. Your qualifying gross annual income determines which collections are available to you. This is to make sure you benefit as much as possible from our products and the income-based Vitality Money program.
The different collections and their qualifying annual income are:
- The Gold Collection: Lower than R350 000 a year
- The Platinum Collection: Annually, between R350 000 and R850 000
- The Black Collection: More than R850 000 to R2. 5 million a year.
- The Purple Account: More than R2.5 million a year.
Please refer to the Explore accounts for additional details about these collections.
Go to the Explore accounts page and select the appropriate product to learn more about any Discovery Bank products, accounts, and their features.
Download the Discovery Bank app to apply for any product, and in less than five minutes, open an account. On the Discovery website, you can also leave your information, and someone will contact you back.
You can get an overdraft facility on your transaction account, a single credit facility that can be linked to a credit card account, or both with Discovery Bank.
For more information, see The single credit facility section.