FNB private v premier

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maqs

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good morning all
just wanted to ask the forum some advice
everytime i log onto my FNB app there is a prompt asking me to upgrade to private from premier

yesterday a got a call from FNB asking if i wanted to upgrade to private and in doing so would enable me to reduce both my credit card and bond interest rate
anything that reduces my bond interest would be great
but they want me to upgrade first before they can run the numbers to see if my interest rates go down

is this something i should be considering?
i generally hit level 5 most months for ebucks so is it in my internet to upgrade to private?

i told them to call me back on Fri after I've thought about it

thanks
 
gold target is 10,000 which i easily get
premier is 11,000 which i normally get
private is 12,000 and using everything as is currently to get to level 5 on premier i can only get to level 4 on private

i would have to either save, invest with FNB to get me to level 5
 
Same boat as you, the ebucks that i earn outweigh any interest rate changes they might offer

Using the calculator , i think i might just need to up my life cover and use more on the FNB Sim

You should be able to get quite close to lvl 5 using the easy wins.



as for additional benefits? I dont know of any
 
i dont have life cover or sim with them
dont want to invest or save with them as my funds/ets are currently tracking at +55% which would be wasted if i opt to invest with FNB

ebucks comes in useful
just cashed in 50,000 to buy lg oled down from R33, 000 to R22, 000 minus further R5, 000 with ebucks
 
I personally downgraded to premier from private as it became ridiculously hard to earn eBucks... the spend targets were massive IMO.

Also, consider what the monthly fees are... R399 vs R219: R180 extra per month. May not seem like a lot but 180 x 12 = R2160 / year. 2160 x 5 years = R10 800 - that's real money... this also assumes that they won't increase their pricing. If you feel that over 5 years you'll get an extra R10 800 value then go for it.... otherwise, don't fall into the trap of having a shiny black credit card- no one cares :)
 
thanks
did they do anything for you in terms of bond or credit card rate reduction?

they offered me 3 months to try private and change if not happy

just got impression they were trying to sell it to me
 
maqs said:
thanks
did they do anything for you in terms of bond or credit card rate reduction?

they offered me 3 months to try private and change if not happy

just got impression they were trying to sell it to me
Click to expand...

Don't have a home loan and always pay my CC in full so they didn't offer me this.

I once heard their CEO talking on 702 after they stopped that whole Steve Campaign. He told Bruce Whitfield that they were going to mine their existing customers into new products to generate additional income... they just want your hard earn cash me thinks
 
They are going to sell you the dream and tell you have access to a private banker you can call and email all the time.

Then send you a flash black card and tell you your going to benefit from the competitive rate.

Its all horse **** Ive been on private wealth for a couple years and have yet to meet my private banker or have a call with them. Ebucks are so difficult to earn and there is no Apple Pay (if that matters to you)

My new approach to banking to is to get the cheapest package available (screw the ebucks and added benefits) Im looking at moving to discovery.

I literally had no clue what I was paying in bank fees monthly until I started using 22seven and Im spending over R500 a month

If I were you I would stay put with what you have
 
At one stage i upgraded to private and it was worth it due to travel i use to do (work and personal) and using the slow lounge (international and local) quite frequently but that's fallen kinda by the way side the last year since pandemic got going. Combo that with wife working these days and covering more day to day costs i won't hit any spending targets anytime soon.

I think given the covid drama they need to come up with a new benefit else many will downgrade.
 
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