Platinum cheque card

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wizdumb

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so what advantages would a platinum cheque card give a person?

apart from bragging rights (not my style), a personal banker (have never called the bank) or private lounge at the airport (don't travel via air, pretty much ever)

this would be personal account, not business.

would it be worth it?

btw I'm with FNB
 
I dunno if you get a personal banker with Platinum - only Private banking?

You get the separate call centre and I think they'll assist faster, but you don't have the dedicated banker AFAIK. Anyhow - the interest rate was far lower than my Gold. Pretty much the only thing I saw
 
Don't underestimate the usefulness of a personal banker. Assuming it is a personal banker in the original sense - the term has lost some of its meaning recently. In some cases its pretty much a marketing gimmick, in other cases its the real deal. afaik the ones FNB provide tend more towards the marketing side unless you're on a top end banking plan thing.

For the main banks in SA the advantage generally comes from lower fees though. i.e. The annual charge is higher but the per transaction charge is lower. Meaning that if you push enough $$$ through the card then it works out cheaper.
 
wizdumb said:
so what advantages would a platinum cheque card give a person?

apart from bragging rights (not my style), a personal banker (have never called the bank) or private lounge at the airport (don't travel via air, pretty much ever)

this would be personal account, not business.

would it be worth it?

btw I'm with FNB
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As far as I know FNB will automatically upgrade your account based on the money that enters the account every month. Personal banker and private lounge at the airport is for private bank clients only.
 
I once worked at a bank. The platinum and private bank clients always thought that they were special but we didn't think that about them. The best clients are the very broke ones and the very rich ones, all others in the middle are a pain - worst being private bank with less pain as you slide down the account profiles.
 
I love the Priority Pass for travelling.

I think the costs are also a bit lower.
 
bokka1 said:
I think the costs are also a bit lower.
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Def. not. Not much more expensive, but a little bit.

I actually had some nice usage out of my personal banker. FNB basically has a building of them in Pretoria East (they're moving to the new building being built across the street from Menlyn Mall). Wanted to get my wife a card on my account but as we've recently had a baby we weren't really in the mood to go to a branch (with a pram and nappy bag in tow).

Phone the guy, explained my case. He organised that I could stop by his office with a fixed appointment - i.e. no waiting in queues. Made copies of our IDs, did the paperwork and phone 1 week later with my wife's card. She could stop there and pick it up - quick 5 minutes.

The slow lounge used to be awesome - and it still is - but the new restrictions that they've added last year pretty much makes it impossible for my wife and I to visit at the same time - quite sucky. I never fly for business in South Africa so won't use it for that purpose either.

I think you do get a bit more ebucks.
 
Hosehead said:
the only card with any "bragging" rights is Amex Black and those that have them don't need to brag.
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Which has a R20,000-R30,000 annual card fee in some countries. I see the USA also has a 1st year initiation fee of about R65,000 in addition to the annual card fee ... So almost R90,000 in year 1 ... Ouch!
 
oh ok, so no real advantage -I'll decline then

...and they can't just upgrade your account, as the monthly fee is more, so will need your permission. they can suggest it (or try and strong arm you), but they can't just upgrade it
 
Basically interest rates on credit cards, savings & bundled services and a slightly higher monthly from what I read last year.
 
Animal111 said:
As far as I know FNB will automatically upgrade your account based on the money that enters the account every month. Personal banker and private lounge at the airport is for private bank clients only.
Click to expand...

Nothing said here is true, FNB pre approves you to upgrade, then you can decide to do that or not... and private or platinum members both have access to the slow lounges
 
The only real benefit I could see apart from the lounges etc, is that you get double the ebucks of a gold card (2% instead of 1%). But then you pay higher fees as well.
 
2.5 % ebucks earned on swipes etc, i think gold only get 1% , though there is some requirements to get 2.5% last time i checked.
 
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