NedBank Gold Credit Card Review

NedBank Gold Credit Card

NedBank has been around for many years. They have got many card options for you to choose form. If you are in the market for a credit card and you like NedBank then, we are going to give you some information about the NedBank Gold Credit Card. 

Key Highlights of the NedBank Gold Credit Card

  • Now you can pay with your card at any QR code using the NedBank app scan to pay
  • Earn Greenbacks and Membership Rewards points at the same rate as card purchases.
  • The app does not use a lot of your Data in order for it to work.
  • Nedbank will make a contribution to the South African affinity of your choice when you open an affinity-linked savings, credit card, cheque or investment account. The best part is, it is not at your own cost.
  • No need for multiple apps on your phone. All you need is your NedBank app and you can pay at most of the QR coded businesses in the country such as Masterpass, SnapScan and Zapper. 

Features and BenefitsNedBank Gold Credit Card

  • Zero transaction fees
  • Up to 55 days interest-free credit
  • Automatic basic travel insurance when you purchase travel tickets
  • Global ATM access
  • Free transactional SMSs
  • Credit life cover 
  • NedBank affiliation program 

Fees and Charges associated with the NedBank Gold Credit Card

The following fee numbers are valid as of the 30th of September 2020. These pricings may change. 

  • Maintenance fee: R 32.00
  • Credit facility fee from: R 20.00
  • Additional card fee: R 20.00
  • Greenbacks linkage fee: R 23.00
  • Cash deposit at NedBank branch: R 75.00 Plus R 2.00 per R 100.00
  • Cash deposit at NedBank ATM: R 1.00 per R 100.00
  • Cash withdrawals at NedBank ATM: R 2.00 per R 100.00
  • Cash withdrawals at other ATMs: R 10.00 Plus R 2.00 per R 100.00
  • Face to face card delivery: R 160.00
  • Replacement card fee: R 140.00
  • Same day card delivery: R 410.00

Application Eligibility for The NedBank Gold Credit Card

  • At least 18 years of age or older
  • Have a good credit rating
  • Be a South African resident 
  • Earn R 350 000.00 or more annually for the Gold Credit Card

How to Apply Online for a NedBank Gold Credit Card

Applying online can be a very simple process. All you need to do is fill in the form online. Make sure that you have the relevant paperwork close by so that you can submit the papers. 

Once you have submitted your application; wait a few days and you will hear from the bank if you have been approved or not.

If you have been approved, it can take up to 7 working days for your card to be ready. Once it is ready, you can then go collect your card or have it delivered. Whichever option you go for, make sure that you have a valid South African ID so that the courier company can make sure that it is the right person that is collecting the Credit Card. 

You will need to have the following papers with you before you apply:

  • Proof of residence 
  • A valid South African green book ID or ID smart card
  • A recent payslip and 3 months bank statement

Pros and Cons 

There are a few pros and cons to the NedBank Gold Credit Card:

Pros

  • NedBank gives funds to any company in the Affiliation program that you wish
  • Zero transaction fees
  • Automatic travel insurance 
  • The NedBank banking app allows you to get rid of some of the other apps that you use on your phone to pay with. This is going to help free up space on your phone

Cons

  • Have to be a South African resident 
  • You need to earn a large sum of money to qualify for the Gold Credit Card
  • The card fees are expensive compared to other credit card options

Why should you choose this card?

Overall, the NedBank Gold Credit Card is a great card for you to look into. You get 55 days interest-free which means that if you can pay back your credit quickly, you will not have to pay interest on it. Zero transaction fees is a great bonus as it is going to help you stop spending unnecessary amounts of money on service charges for an action that you need to perform more than once a day sometimes. 

Automatic travel insurance is a great bonus for you to have if you are the type of person who likes to travel around the world and use your money to have new and exciting experiences. 

Finally, if you like to travel, this credit card can be used all around the world. This is going to help reduce the number of cards that you need as well as helps you keep track of your money when you are on holiday. 

Overall Rating:

Overall, we give the Nedbank Gold Credit Card 7/10