Discovery Bank

Did an application to switch my bond this week. Rate was worse than what i have with nedbank by 0.4%. Said i could lower it by 0.5% with the products i have and another 0.5% with getting life insurance or something. Given the switch fees estimated at R26k and the fickle nature of discovery changing rules down the road. I rejected it.

FYI something was not working in the estimate as it was saying my monthly repayment to them was going to be 20% than i what i am currently paying. So either the estimate is wrong or i have misunderstood what the offer was
 
binloud said:
Does Discovery make a statement about base borrowing interest rates on credit cards? Is it card specific? I was going to downgrade to a silver suite from a black, but I see the interest rate is way higher (before dynamic interest rates) …is this just a new rate due to higher rates these days, or am I more risky …my investec card is prime…discovery new rate quoted is 22% and my old rate, before dynamic discount is somewhere in the middle.
Click to expand...

Same here. I am on black with base rate of 17.5%….When I wanted to downgrade to Gold, the new rate was 22.5%.

I think it is card specific.
 
Acidboy said:
Same here. I am on black with base rate of 17.5%….When I wanted to downgrade to Gold, the new rate was 22.5%.

I think it is card specific.
Click to expand...

Based on a call I had with a Discovery Bank consultant around upgrading and downgrading my account, it is indeed based on the card.
 
EE account shows on banking, but from the app it does not appear on the list for transfers.
From the website it shows and allows transfers as normal.

Anyone else see this issue?

Earlier this month did a transfer on the app to EE, and it showed and worked fine.
 
AirWolf said:
EE account shows on banking, but from the app it does not appear on the list for transfers.
From the website it shows and allows transfers as normal.

Anyone else see this issue?

Earlier this month did a transfer on the app to EE, and it showed and worked fine.
Click to expand...
Nope, it is showing on mine. Just did a transfer as well.
 
AirWolf said:
EE account shows on banking, but from the app it does not appear on the list for transfers.
From the website it shows and allows transfers as normal.

Anyone else see this issue?

Earlier this month did a transfer on the app to EE, and it showed and worked fine.
Click to expand...
EE had an issue this morning which has been reverted.

Try again and it should work.
 
Yeah dropping to 50% not sure what motivation to stay on black, especially without the iPhone benefit
 
They were pushing hard to me to upgrade to black. Did not seem worth it then with the extra spending targets even with the healthy food. Now definitely does not seem worth it. I expect platinum will soon get a haircut to make black worth it.
 
Lukcydog said:
Changes to Healthyfood Cashback on Black Suite:

www.discovery.co.za

HealthyFood updates

Earn HealthyFood rewards at Checkers and Woolworths, in-store and online. Enjoy up to 25% back on thousands of HealthyFood items.
www.discovery.co.za www.discovery.co.za
Click to expand...

Don't know anyone who shops at PNP but things definately looking bleak for them.
 
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Something I am not sure I fully understand is the caps, let's say it's a single person - R2500 cap on healthy food, does that only factor into my spend on healthy food. So, if I am earning 50% back I spend 10K at woolies but only R2000 on healthy food, ie veg and chicken ill get 10 000 miles? Or do they cap your total spend at R2500 even though you only spent R500 on healthy food?
 
binloud said:
Something I am not sure I fully understand is the caps, let's say it's a single person - R2500 cap on healthy food, does that only factor into my spend on healthy food. So, if I am earning 50% back I spend 10K at woolies but only R2000 on healthy food, ie veg and chicken ill get 10 000 miles? Or do they cap your total spend at R2500 even though you only spent R500 on healthy food?
Click to expand...
Correct, they look at the healthy food total only, not the total spend.
 
Has anyone ever (legally) taken Discovery on about their unilateral changes to benefits, terms, etc?

Or is that power written into the initial agreement when you join?
 
Candystore said:
Has anyone ever (legally) taken Discovery on about their unilateral changes to benefits, terms, etc?

Or is that power written into the initial agreement when you join?
Click to expand...
I had a big issue when they changed rhe spend goal from the points to the weekly spend amount. As I allready took out the iPhone benefit knowing I'd achieve my goal, but then during my contact they changed to to min spend a month. Which was too high for me. I tried and tried complain and got no where .so glad last month was my last. I've completed that on platinum card I only get 2 visist (unless I spend a heck of a lot more..which I cant) so I said other banks five more lounge visits. They replied to say it's great that I have other choices of banks.
Really thinking of going back to absa some days
 
I’m in the process of cancelling all of my Discovery products (except medical aid). They lock you in by giving you the maximum benefit by combining products. But that cuts both ways, if one stops being beneficial then the rest become less beneficial if you cancel that one. So I cancel one, reassess, decide the rest don’t make sense any more.

I’m actually excited to not have the hassle of tracking goals, spend limits and constant product changes.
 
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