Standard Bank Elite vs FNB Gold Cheque

[Micdew]

Good Day

I'm not fortunate enough to earn the big bucks yet (R138000 p.a) so my choice of accounts are slim. I have an acc with Capitec and a credit card with Nedbank (not at the best interest) but want to move them both as I need to plan for future car and house one day.

So Standard bank elite looks promising with the credit card included in the fees but people keep on telling me fnb is better but i can't seem to see a reason...

Anyone with experience with these accounts and/or banks please provide me with your opinion.

 

[3WA]

I would go with the account with the lowest fees. There's no need to build a relationship with a bank - in all likelihood, it won't improve your success in obtaining credit later.

That said, I find FNB's service to be better than Standard's.

 

[Ancalagon]

Stay with capitec and apply for a discovery credit card. Use that to build up your credit rating.

That being said, having an account with a bank makes them more favourable to you when it comes to home loan time. However, for some banks that doesnt matter, like Nedbank. Others like ABSA and Standard will either flatout refuse to lend you money, or lend you money at a very high interest rate.

Why do you want to move your accounts?

 

[Gtx Gaming]

fnb!!

ebucks is really awesome , if you put in some effort to get to level5.

 

[Hamster]

fnb!!

ebucks is really awesome , if you put in some effort to get to level5.

Quote a bit of effort

Still don't understand why they discriminate against me for using my CC instead of debit card. It is paid in full every month but. I earn less eBucks because of it.

 

[Ancalagon]

Quote a bit of effort

Still don't understand why they discriminate against me for using my CC instead of debit card. It is paid in full every month but. I earn less eBucks because of it.

And you have to have an overdraft, home loan and vehicle loan to get the best out of it.

 

[katastrofie]

And you have to have an overdraft, home loan and vehicle loan to get the best out of it.

No overdraft, home loan or vehicle loan and I'm on level 5 on my cheque account.
There are lots of ways to earn points.

 

[Gtx Gaming]

And you have to have an overdraft, home loan and vehicle loan to get the best out of it.

yes but you can use overdraft right then its free and you get your 300 points , takes good managing etc . I am just to lazy anymore so i just use it and pay the R30 a month , as benefits at level 5 is worth that 30 bucks a months.

No need for home loan or vehicle loan , i am on level 5 without it.

Mostly the free 4mbs uncapped uncapped account and the high amount of ebucks earned.

 

[Ancalagon]

I had a platinum account for years, and I used my credit card for absolutely everything. I dont think I ever got above level 2. Now with my Discovery card I get R300 back per month.

 

[Rocket-Boy]

I dont use the cheque card for anything, I always use my credit card and that is on lvl4 now, it was on lvl5 when I had a bond still but since that was paid up it dropped to lvl4.

 

[Micdew]

favouritism

The only reason im looking at those options are that the other banks play favouritism when it comes to asset finance if you bank with the big boys as they say. Excluding my credit card im only paying r25 banking fees a months witch is way better than what the others offer but I need to look at vechile finance soon.

Can you get a discovery card without being a memebr?

 

[Ancalagon]

I think so.

 

[SYNERGY]

Virgin Money card has no fee's.

As a Discovery member, I moved to FNB. E bucks are more widely accepted. Although discovery does/did have some nice discounts such as 10% of at Nando's/Apple.

 

[smg22]

No overdraft, home loan or vehicle loan and I'm on level 5 on my cheque account.
There are lots of ways to earn points.

how did you get to level 5, please share the tips

 

[McGuywer]

how did you get to level 5, please share the tips

There is a whole thread regarding how to increase your points.

 

[Micdew]

So if ebucks wasnt in the picture would u still be with fnb. Not to fond of reward programs, more into lesser fees and better services (personal and via app/internet banking)

 

[Micdew]

So if ebucks wasnt in the picture would u still be with fnb? Im more into lesser fees and good service (personal and via app/internet banking)

 

[Fiza]

There is a whole thread regarding how to increase your points.

hi. do you perhaps have the link to the thread? can't seem to find it with search function

 

[katastrofie]

how did you get to level 5, please share the tips

Tip #1: Having a CC (R28) + Roadside assistance (R5) bumps me up a level and the increased rewards more than cover the R33 extra back charges.

Tip #2: Use Cash@till instead of ATM withdrawals. Make sure to use this at least once a month every month.

Tip #3: Pay for something online at least one a month with the cheque card.

NB: the above applies to a cheque account

 

[lucifir]

Tip #1: Having a CC (R28) + Roadside assistance (R5) bumps me up a level and the increased rewards more than cover the R33 extra back charges.

i have never seen this rule, can you provide a link/reference??