Discovery Bank

[AlmightyBender]

I must say, it’s quite interesting that you can get any colour card you want with discovery. As long as you pay the fees, they really don’t check if you earn that much.

Not quite. I think it has to do with credit rating. I have a large amount of debt due to medical bills and even though I qualify for Black, they would only give me Platinum because of that.

Can it not work against you though like for your retirement points (percent of income) and extra diamond points for x times your salary in savings, interesting if it works for you for debt as percent of income

Definitely this. The higher you go the harder it is to maintain the minimum balances and thresholds.

 

[AirWolf]

I must say, it’s quite interesting that you can get any colour card you want with discovery. As long as you pay the fees, they really don’t check if you earn that much.

What about the salary brackets for their medical aid? Will you be put into a higher bracket based on your card?

 

[ECHLN]

What about the salary brackets for their medical aid? Will you be put into a higher bracket based on your card?

I haven’t noticed any difference yet. I was on black suite before. Giving purple a try to see if it’s even worth it. If not, I’ll go back to black.

 

[ies87]

I haven’t noticed any difference yet. I was on black suite before. Giving purple a try to see if it’s even worth it. If not, I’ll go back to black.

Is the annual card fee charged upfront for purple? Or after first year only like Amex?

 

[ECHLN]

Is the annual card fee charged upfront for purple? Or after first year only like Amex?

Yeah. I paid about R2000 upfront.

 

[beefymoocow]

Yeah. I paid about R2000 upfront.

Do you know if it’s an annual payment or per calendar year.

 

[ECHLN]

Do you know if it’s an annual payment or per calendar year.

Seems to be annual

 

[ECHLN]

For those that are curious, this is what the Purple Suite Credit Card comes in. This is not the invite only version. This is the one you can get in app.

 

[diapason]

What about the salary brackets for their medical aid? Will you be put into a higher bracket based on your card?

The salary brackets are relevant only for the Keycare options.

 

[beefymoocow]

For those that are curious, this is what the Purple Suite Credit Card comes in. This is not the invite only version. This is the one you can get in app.

I think I’ll make change as well soon. Are you still on diamond. I’m sure you will need extra savings.

 

[Priapus]

Aaand got confirmation that my account has been closed.

 

[ies87]

I think I’ll make change as well soon. Are you still on diamond. I’m sure you will need extra savings.

I’m a bit worried about the income requirement. Surely your banker will realise if you don’t earn R2.5mil pa? Unless you do, of course.

 

[beefymoocow]

I’m a bit worried about the income requirement. Surely your banker will realise if you don’t earn R2.5mil pa? Unless you do, of course.

Then they get less fees. And less spending. Because purple has a higher requirement in terms of spending.

 

[ies87]

Then they get less fees. And less spending. Because purple has a higher requirement in terms of spending.

250k pa spending requirement right?

I’ll need to go look at the benefits again, the annual card fee is steep.

 

[beefymoocow]

250k pa spending requirement right?

I’ll need to go look at the benefits again, the annual card fee is steep.

It’s steep. But the iPhone benefit covers its. And the 75% off international business class is a good perk if you can and do travel. I wonder if they still give 100% rebate in miles on virgin active collection gym fees. Which is also good. Since miles are worth about 60% more than their face value.

 

[ies87]

It’s steep. But the iPhone benefit covers its. And the 75% off international business class is a good perk if you can and do travel. I wonder if they still give 100% rebate in miles on virgin active collection gym fees. Which is also good. Since miles are worth about 60% more than their face value.

I’ll try and get some info on Monday. The Apple benefit also looks good, but my understanding is that’s soon coming to black and platinum as well.

 

[citizensa]

I think you will get upgrade notification only if you express your income upwards of 208340 (2.5mil per year )per month that makes your savings requirement at least 660000 and spend thresholds are same as Black at 40k

 

[3WA]

I’ll try and get some info on Monday. The Apple benefit also looks good, but my understanding is that’s soon coming to black and platinum as well.

The iPhone benefit is already on Black and Platinum.

 

[ies87]

The iPhone benefit is already on Black and Platinum.

View attachment 1131346

There’s an Apple benefit too. Macs etc.

 

[3WA]

There’s an Apple benefit too. Macs etc.

Oh, then I gotta hope that comes to Platinum!