The most exclusive bank cards in South Africa – and what they get you

While you can expect to pay more than other banking options, part of the allure of owning an exclusive bank card are some of the insane perks on offer.

Typically reserved for high-income earners and VIP customers, the cards can often pay for themselves by offering a number of discounts, free benefits and personalised services.

BusinessTech looked at some of the most exclusive bank cards available in South Africa and what they have to offer.

Absa – Private Banking Card

Absa’s Private Banking service offers a choice between a Private Bank MasterCard Credit Card and a Private Bank Visa Credit Card, each with its own features and benefits.

These cards are each aimed at a different types of customer, with the “standard Credit Card package” aimed at a more general usage and international trips, while the “Exceller Package” offers a number of exclusive reward programmes.

All of the cards on the service require that the holder earns a salary gross of R62,500 a month.

Depending on your package choice, some of the unique perks include:

  • A personalised banker.
  • A concierge service
  • 10 free trips on Take-Me-Home service.
  • A range of store lifestyle packs, and access to a personal health advisor, legal assist, and a doctor’s network.
  • Stockbroking services, including access to a number of international investment options through Barclays Wealth.
  • Unlimited free access to local Bidvest Premier lounges.

FNB – Private Wealth Credit Card

FNB offers a number of accounts to its Private Wealth clients, but its Credit Card stands out from other banks particularly due to its unique incorporation of eBucks.

The account costs R425 a month as of 1 July 2017, and a minimum opening deposit of R100,000 is required to activate the account and must be maintained to continue earning interest.

Some of the unique perks include:

  • A dedicated Private Banker and access to a team of fiduciary, lending, wealth management and Foreign Exchange specialists
  • You can earn Bucks at the highest possible rate.
  • No transactional fees.
  • Assistance with your travel arrangements such as booking flights, car rental and accommodation, Avis Point2Point transfers and complimentary Priority Pass membership so you can access over 700 airport lounges worldwide.
  • Gifting services, sourcing of sport and event tickets, lifestyle experiences such as spa days, hot air balloon rides and luxury picnicking, dining reservations, golf bookings, and more through eBucks.
  • Smartphones and tablets at discounted prices over a 24-month period with 0% interest , including special rates on some Apple products.
  • Free subscription to inContact, which alerts you of activity on your account
  • An overdraft facility with instant access to your funds, as well as a linked, personalised interest rate.

Nedbank – Private Wealth package

To qualify for Nedbank’s Private Wealth Package, and access to its eclusive cards you need to earn at least R1.5 million per year; and/or have R5 million of investable assets.

Some of the unique perks of the card include:

  • A dedicated private banker.
  • Free travel insurance.
  • Free access to Bidvest lounges at major domestic South African airports.
  • A concierge service which includes someone to make fine-dining reservations, and travel arrangements (booking flights, cruises, accommodation and car rentals).
  • Access to the Greenbacks reward programme.

Standard Bank – World Elite card

While Standard Bank offers a Platinum card to anyone who earns over R58,000 a month, it also has an exclusive credit card in which customers are invited to participate in, similar to the American Express Centurion account.

The exclusive World and World Elite “Black” and “Metal” cards are offered to “discerning high-net-worth individuals and their families”, with the metal card offered on an invitation-only basis.

However, the details, in terms of pricing and benefits are made available to customers directly, and no further information could be publicly disclosed.

Assuming that the card offers similar rewards to the international MasterCard’s World Elite card, holders can expect some incredible perks including:

  • A 24/7 Concierge service.
  • Free shipping on online purchases
  • Free home sharing – Choose from 10,000+ high-end rentals in cities worldwide including New York, Los Angeles, Miami and San Francisco with onefinestay.
  • Complementary elite car rental
  • A number of special travel offers.

Read: The most in-demand skills and degrees in South Africa’s banking sector

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The most exclusive bank cards in South Africa – and what they get you