Discovery Bank

GravityZN said:
New to discovery bank but been a vitality member for a while where my travel discount was always the default.The Discovery bank app shows discount at 30% but on app there is only 10% and 20% options when booking the flight. Can someone advise how to get full discount.
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International or local?
 
Hi All.

I'm busy looking into pros/cons of various credit cards and benefits and trying to make sense of the math on Discovery Purple Suite. Currently with Discovery Health & some Life policies through work, but actively left their Insurance product because of shitty service.

For context I don't need or like to make use of credit, outside of the necessity in terms of credit check health. So paying annual card fee of R3,500 + (644 x 12 for monthly fee) = R11,228 needs to find it's way back, and only way I can see that is maxing on the potential rewards.

The rewards on that program make sense in terms of dovetailing with my needs (would also activate Vitality Health finally), but the spend at 40k or more monthly + Diamond status, in order to get up to 50% back on the flights, 75% on food, and so on, seems like a lot.

Reason I am in a position to consider Discovery Purple is precisely because I don't randomly do purchases of that size on credit on the monthly. From what I can make out, my payments towards financial instruments like RA, TFSA and monthly general investment (all of which go off as debit orders currently) would definitely not count towards that?

Anyone who has navigated how to get the spend up to that R40k on the monthly without crazy discretionary purchases have any advice for me?

Is achieving Diamond Status for Vitality Money realistic/attainable?

With my previous experience with Discovery on the insurance side of things I'm reluctant to get back in with them, precisely because of how opaque and complicated they make everything, but keen to hear if there are happy campers as far as this product goes (Discovery Purple Suite) . Also considering Investec as an aside.

Thanks in advance.
 
pyromantic.jc said:
Hi All.

I'm busy looking into pros/cons of various credit cards and benefits and trying to make sense of the math on Discovery Purple Suite. Currently with Discovery Health & some Life policies through work, but actively left their Insurance product because of shitty service.

For context I don't need or like to make use of credit, outside of the necessity in terms of credit check health. So paying annual card fee of R3,500 + (644 x 12 for monthly fee) = R11,228 needs to find it's way back, and only way I can see that is maxing on the potential rewards.

The rewards on that program make sense in terms of dovetailing with my needs (would also activate Vitality Health finally), but the spend at 40k or more monthly + Diamond status, in order to get up to 50% back on the flights, 75% on food, and so on, seems like a lot.

Reason I am in a position to consider Discovery Purple is precisely because I don't randomly do purchases of that size on credit on the monthly. From what I can make out, my payments towards financial instruments like RA, TFSA and monthly general investment (all of which go off as debit orders currently) would definitely not count towards that?

Anyone who has navigated how to get the spend up to that R40k on the monthly without crazy discretionary purchases have any advice for me?

Is achieving Diamond Status for Vitality Money realistic/attainable?

With my previous experience with Discovery on the insurance side of things I'm reluctant to get back in with them, precisely because of how opaque and complicated they make everything, but keen to hear if there are happy campers as far as this product goes (Discovery Purple Suite) . Also considering Investec as an aside.

Thanks in advance.
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If you saving money why do you want to spend on a high end bank.
Discovery purple has great value but only if it meets your needs.
Investec has much less rewards but more value if you need a bank for high value debt.
 
Goliath said:
Just saw the thread and I'll drop my 2c for those who've got a discovery credit card, beware! Friend got notification that irregular transactions going off card (Betway) and has never bought anything there etc. Immediately called in and reported transaction as fraudulent, and agent promised to flag it and get it sorted and keep her posted. After a week zero, when she phoned they eventually said something about Visa will refund it. Sure enough they did, so problem solved and got new card. Noticed this morning the funds was removed again without any notice etc by Visa, phoned in three times to get assistance or a straight answer and she eventually recorded the conversation, terrible terrible service and no other help from their side. R18,000 down the drain, she going to ombudsman.. (long story short) and closing her accounts with Discovery. Oh and she didn't buy anything on dodgy sites / links etc..
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But you have to authorize via a message in the Banking app?
 
Indeed, which she did not authorize.. just got the discovery notification, and immediately phoned them to say transactions that is going off is fraudulent
 
Quick question how does this work?

Not seeing much info on how to unlock the 75% etc

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Can be done without Vitality active as you will just be getting the Money part of it


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Trying them as a backup for now after opening my account yonks ago already. Tyme bank and Bank Zero are taking ages to add digital wallets. The app seems less buggy than FNB. For some reason the balances page does take a minute or so to update. You still need to give a reference which is silly. Also I can only have 1 VC linked to my account. I would like to have 2 or so and this account only operates on VC's. They do spam you but you can unsubscribe. Just make sure you unsubscribe from all categories at once (I never did that). Savings rates are also decent and better than Capitec but a bit worse than Tyme bank. You also can't add a credit card to this account which sucks. All in all though it's pretty good. App is not bloated and buggy like FNB and it's easy to add additional accounts etc.
 
backstreetboy said:
Trying them as a backup for now after opening my account yonks ago already. Tyme bank and Bank Zero are taking ages to add digital wallets. The app seems less buggy than FNB. For some reason the balances page does take a minute or so to update. You still need to give a reference which is silly. Also I can only have 1 VC linked to my account. I would like to have 2 or so and this account only operates on VC's. They do spam you but you can unsubscribe. Just make sure you unsubscribe from all categories at once (I never did that). Savings rates are also decent and better than Capitec but a bit worse than Tyme bank. You also can't add a credit card to this account which sucks. All in all though it's pretty good. App is not bloated and buggy like FNB and it's easy to add additional accounts etc.
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I just added a second vc to my account
 
Charlesjjm said:
I just added a second vc to my account
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I saw I can create another Virtual credit card, the app asks me if it for me or someone else. Can I create one for my wife and it will still have all teh same benefits ? Will then be a lot easier to achieve teh spending goals etc
 
L-Dog said:
I saw I can create another Virtual credit card, the app asks me if it for me or someone else. Can I create one for my wife and it will still have all teh same benefits ? Will then be a lot easier to achieve teh spending goals etc
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It should, it's still linked to your account, so it "inherits" all the benefits from there.
 
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