Discovery Bank

Is the cap for healthy food cashback changed? It was R1000 max cash back. What is it now with Vitality money boost?
 
Sphinx21 said:
For healthyfood back at Woolworths, do we need to pay with our new discovery cards? Or does it keep working if we pay with a WW credit card?
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Seems like to get the most out of your Discovery card you need to use a secondary card almost everywhere. I filled up at a BPand they asked me for a PnP smartshopper card.

I've also filed them proof of my retirement fund etc, still waiting for them to accept.

Starting to feel like if you don't put a lot of effort into this it's pointless to have it as a second account. So unless they come up with home and car loans (which is not the plan at the moment) I don't see this being worth it at the moment.

Think I might cancel my account before the end of this month, will give feedback on that process inthis thread :ROFL:
 
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Hamster said:
Seems like to get the most out of your Discovery card you need to use a secondary card almost everywhere. I filled up at a BPand they asked me for a PnP smartshopper card.

I've also filed them proof of my retirement fund etc, still waiting for them to accept.

Starting to feel like if you don't put a lot of effort into this it's pointless to have it as a second account. So unless they come up with home and car loans (which is not the plan at the moment) I don't see this being worth it at the moment.

Think I might cancel my account before the end of this month, will give feedback on that process inthis thread :ROFL:
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I have yet to see any tangible benefits of discovery bank . Sounds mostly like American style marketing to me
 
adielk said:
75% in theory but practice need to be diamond i.e. 3 years gold.

Reality is most won't see the max benefits IRL


Discovery Vitality made a massive R603 million profit last year – as members fail to use their perks

https://www.businessinsider.co.za/discovery-vitality-profits-jump-as-partner-cough-up-2018-11
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From that article:

The Discovery Card sale was almost R500mill. Vitality normalised profit was a mere R58mill and not all of that is from perk under-usage.

* UPDATE: Discovery Vitality says, despite the extraordinary bottom line it reported in 2018, it is intended to operate at a profit margin of between 1% and 2%.
Of its R156 million operational profit (excluding the sale of DiscoveryCard), executives say, R30 million came from investment income and another R68 million was from profits from the credit card business, which is now sold.
That leaves a R58 million normalised profit – which Vitality considers a better indication of its health than the R603 million total profit reflected in its internal books.
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Point is that most cannot fully utilise the benefits eg 75% off flights a mere pipedream for most eg I need to achieve for 3 years before I'll be able to fully utilise 75% and even then there are other requirements.
 
adielk said:
Point is that most cannot fully utilise the benefits eg 75% off flights a mere pipedream for most eg I need to achieve for 3 years before I'll be able to fully utilise 75% and even then there are other requirements.
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But you can get 70% percent if you were on vitality gold with the other necessary products.
 
adielk said:
How exactly?

Silver but 8000 points away on health
Drive gold.
Money just got card today.
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With active rewards you should be able to make Gold Status on vitality health. Points for activity puts that within reach for most.
Diamond status on money is not the same as with health (3 years of Gold); it's dependent on size of savings for a given account type (Gold, Plat, Black).

adielk said:
Reality is most won't see the max benefits IRL
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This is the functioning premise of every rewards programme. How is any company supposed to give you a benefit of thousands of rand (Flight discount on international flight), if your direct fees and indirect fees don't equal or surpass that amount in any given year? I would actually guess that participation levels in vitality have been higher than many other programmes (in terms of redemption of value offered), thus the steady reduction of benefits over time to remain viable.
 
Pls advise - will Dt orders on a discovery bank a/c for Discovery insure premium - get counted towards your monthly spending band ? on ebuck Dt-orders have no "value". Not for level or earnings - FNB needs the swipe to generate a merchant fee to pass some back as a rewards ? Pls advise
 
Sphinx21 said:
With active rewards you should be able to make Gold Status on vitality health. Points for activity puts that within reach for most.
Diamond status on money is not the same as with health (3 years of Gold); it's dependent on size of savings for a given account type (Gold, Plat, Black).


This is the functioning premise of every rewards programme. How is any company supposed to give you a benefit of thousands of rand (Flight discount on international flight), if your direct fees and indirect fees don't equal or surpass that amount in any given year? I would actually guess that participation levels in vitality have been higher than many other programmes (in terms of redemption of value offered), thus the steady reduction of benefits over time to remain viable.
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thus the steady reduction of benefits over time to remain viable.

I actually think its deliberately attractive to get hooked eg free gym based on 3 visits pm only.
 
beefymoocow said:
I bought a blood pressure monitor for around 1600. So I got 25% from vitality. And around 23% for vitality money.
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Would be great if they've done an about turn and paying cash for dischem. Some communication would have been nice.

That though does mean I still haven't received my pnp spend back.

You say 23% from vitality money. Did you pay with your discovery card to get this?
 
I am on diamond. Last weeks goal took a while to show come through so because Discovery thought I had not hit my 20 points weekly reward I was dropped back to Gold! The points then came through and I was moved back to Diamon.

So not only do all your finances need to be in order, but you also have to spend enough money every week otherwise you move back down to gold.
 
splinter_watsup said:
I am on diamond. Last weeks goal took a while to show come through so because Discovery thought I had not hit my 20 points weekly reward I was dropped back to Gold! The points then came through and I was moved back to Diamon.

So not only do all your finances need to be in order, but you also have to spend enough money every week otherwise you move back down to gold.
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That’s crazy and not what they promised
Anyway are you Diamond with a Black card?
 
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