With a minimum monthly salary of R10 000 a month it is one of the most accessible gold cards … The only difference is that greenbacks credit cards. Nedbank Credit Card is a card made for employed and self-employed individuals with a regular income. These cheque/current accounts are for higher income earners than that of entry level and gold accounts. Neither the author, nor the publisher, will accept any responsibility for losses, omissions, errors, fortunes or misfortunes that may be suffered by any person that acts or refrains from acting as a result of these articles. Banks like Standard Bank and FNB have a fixed interest rate percent on some of their credit cards and this may affect those with a high credit rating but that’s not the case with Nedbank. The American Express Black Card … Comes with an app that is designed to meet the specific needs of a private high net individual. DISCLAIMER: Rateweb is not a financial service provider and should in no way be seen as one. Offerings such as the ‘philanthropy services’, set the card apart in terms of prestige from any other Nedbank card. Neither the author, nor the publisher, will accept any responsibility for losses, omissions, errors, fortunes or misfortunes that may be suffered by any person that acts or refrains from acting as a result of articles on this website. On the other side of the spectrum, Nedbank’s Private Wealth options carry the highest barrier for entry, requiring a minimum annual salary of R1.5 million (approximately R125,000 per month), … We will now examine it in full below. By qualifying for a black card, you get to have unlimited first-class banking with consultants at your disposal whenever you need them. admin@rateweb.co.za| For all editorial and technical issues, sales@rateweb.co.za| If you want to advertise with us. Get a free supplementary card for family or friend, Earn one membership point for every R5 spent of any American Express card, Choose a credit card from Nedbank that you want to apply for, You can start your application using the Nedbank mobile app you have an app and you have an account with Nedbank. You won’t just need to earn an average salary but you need to be in the top 3% in South Africa, to be considered for qualification. Charges fees that most competitors don’t charge for a black card. Make the right choice by understanding your monthly budget and your other expenses. Neither the author, nor the publisher, will accept any responsibility for losses, omissions, errors, fortunes or misfortunes that may be suffered by any person that acts or refrains from acting as a result of these articles. You get opportunities to invest locally and abroad. All you need to do to have your salary paid into your account is this: Download the switching form; Complete the Switch my Salary … Lethabo Ntsoane is a Financial Product commentator at Rateweb. Requirements. Automatic travel insurance of up to R4,000,000.00 on American Express platinum credit card. 2 A minimum opening deposit of R100 000 is required to activate the account and must be maintained to continue earning interest. DISCLAIMER: Rateweb is not a financial service provider and should in no way be seen as one. All the large three credit card companies offer a Black card type program. admin@rateweb.co.za| For all editorial and technical issues, sales@rateweb.co.za| If you want to advertise with us. For … Greenbacks credit cards come with standard features like the 55days interest-free period, travel insurance, etc. These cards are very similar but has some tweaks compared to the greenbacks credit cards. The black card is meant to make life easy, not difficult, so you really need to consider the benefits that come with it. The Amex Centurion card was introduced in 1999 to customers who meet American Express’ eligibility criteria. The articles are of a general nature and do not purport to offer specialised and or personalised financial or investment advice. Most of the times we respond within 20 minutes. This website uses cookies. Though the CARD Act doesn't state any specific minimum income requirement, credit card companies do have to ensure applicants have enough income to support monthly payments before they can be approved for a card… Earn double Greenbacks when you pay with your Nedbank Private Wealth American Express® Credit or Cheque Cards (unlimited Greenbacks at a rate of up to two Greenbacks for every R5 spend). Cost. Minimum annual income of R100,000. Since these cards are from American Express, all you need to expect is class. Nedbank Credit cards cater to different types of clientele, for example, the platinum credit card is designed for professionals, the gold credit card for new credit holders and classic credit cards for low-income earners. Nedbank has so many credit cards on offer and this review was simply compiled to help you choose the best credit card for you. The rate indicated is the debit interest rate charged by Nedbank … It is definitely not easy to get an American Express credit card of any kind so you need to be earning a good income. You may also be interested in our FNB Black Card Review. These are not your standard gold and platinum credit cards these are designed for world travelers and comes with great benefits. The difference of R64,000.00 is high maybe Nedbank has to work on their numbers on the greenbacks gold card. Lethabo majors in reviews and financial tips. Minimum annum gross is high compared to Capitec Bank who have their minimum annual salary at R36,000.00 of their credit card. Clients get to use a more spot-on and complete mobile app designed only for private clients. If you are into investing, travelling and banking in style then it is surely for you. To qualify for the Fusion account, you must earn (before deductions) at least R120,000 a year on the Gold and at least R300,000 a year on the Premier. Nedbank pays its employees an average of R372,864 a year. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. Learn more about how you can trade over 1000 instruments on the XM MT4 and MT5 platforms from your PC and Mac, or from a variety of mobile devices. Nedbank neglects written down rates that apply to their credit cards on their websites and brochures. You also get to use Nedbank’s stockbroking facilities at no additional charge and invest locally and abroad. To apply (or be offered one of these exclusive accounts), you need to generally earn a monthly income … Nedbank has a number of credit cards for daily use namely; Nedbank Black Card, Platinum, Gold and Classic credit card. For a greenbacks platinum credit card, you must earn a minimum of R350,000.00 or more per annum. Most of the times we respond within 20 minutes. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. Neither the author, nor the publisher, will accept any responsibility for losses, omissions, errors, fortunes or misfortunes that may be suffered by any person that acts or refrains from acting as a result of articles on this website. Rateweb is not a financial service provider and should in no way be seen as one. However, all cards on the service require that the holder earns a salary gross of R62 500 a month. When evaluating offers, please review the financial institution’s Terms and Conditions. 55 days interest free The rate of 21% is 0.62% higher than the average 20.38%. From the look of things, greenbacks and Nedbank credit cards offer similar features on their credit cards. Automatic basic travel insurance of up to R1, 000,000.00 on American Express gold credit card. Earn unlimited Greenbacks at a rate of up to one Greenback for every R5 spend with your Visa Infinite credit card. In December 2013, Nedbank and American Express announced a partnership bringing the Amex Centurion card – more commonly known as the the “Black Card” – to a select group of South Africans. The articles are of a general nature and do not purport to offer specialised and or personalised financial or investment advice. For all clients who open their first real account, XM offers a R400+ trading bonus without any initial deposit needed. R30.00 per month. Nedbank has a wide range of credit cards for different credit card users. You will be part of the FNB rewards system, eBucks rewards … Greenbacks credit cards are tailor-made for those who want to be rewarded for their day to day spending. The perks afforded to the customer depend on the selected package. There is 24/7 support for banking and other services. Your credit rating matters so before making any decision on which credit card to choose better check your credit rating. Salaries at Nedbank range from an average of R132,353 to R798,351 a year. The card has a monthly service fee starting from R69.00 and interest rate of 19.65% per annum. Nedbank Private Wealth provides integrated banking, wealth advisory and investment management services to high-net-worth clients, in South Africa and internationally. A Nedbank Private Wealth Visa Infinite combined credit and cheque card (click here) … Minimum Monthly Salary 125000.00 or have a net asset value of 15 million min; Minimum … Trade stocks, forex, commodities, metals and CFDs on stock indices with an internationally licensed and regulated broker. To qualify for Nedbank Credit Card you need to be above the age of 18, have a good credit score, be gainfully employed and earn a minimum of R60,000.00 or more per annum. 6 countries South Africans are planning to immigrate to after COVID-19, Salary below R17 712? Interest. The card started out as rumour and a myth, but American Express eventually made the legend a reality, and created an all-black titanium card … Nedbank is the only bank in South Africa that offers both credit and debit cards from the prestigious American Express. According to the Nedbank website; ‘The Nedbank Greenbacks Credit Card is a South African credit card that rewards you for your everyday spend.’ The level of rewards depends on the type of Greenbacks credit card you hold. To lend a Greenbacks gold credit card, you need to earn R100,000.00 or more. The articles are of a general nature and do not purport to offer specialised and or personalised financial or investment advice. In compiling the articles for our website due caution was exercised in an attempt to gather information from reliable and accurate sources. The better a credit rating the lower the amount of interest that has to be paid annually as it will be adjusted in your favour. Must earn a minimum of R350,000.00 or more per annum to qualify for a platinum credit card. All financial products, shopping products and services are presented without warranty. The good thing about Nedbank credit cards is that their interest rates are determined using a credit rating. Has the second-highest salary requirement in South Africa which makes it almost impossible for 96% taxpayers in South Africa to get one. Many people are fond of American Express products so its easy for foreigners and nationals to relate to the brand. For a first-tier card to come with zero transaction fee is something to boast about as this is usually a feature for platinum cards. Nedbank black card requirements Must earn a personal income of more than R1,500,000.00 per year, and/or Have investable assets with a value of R5 Million or more excluding … Benefits. The Nedbank black card comes with an entire plethora of benefits from travel benefits to investing benefits. This product has 55 interest free days on purchases and may require a minimum income of R36,000 annually to qualify according to its criteria on its website. With the help of American Express, Nedbank issues the most prestigious black card in the world known as the Centurion black card. The Nedbank credit cards have similar features but vary with the qualifying criteria. Nedbank … American Express, also known as AMEX, was the first credit card company to offer this elite credit card.In 1999, AMEX introduced the Centurion Card, also known as the Black Card.Then Visa came out with their form of the Black card … The Amex Black Card. Trade stocks, forex, commodities, metals and CFDs on stock indices with an internationally licensed and regulated broker. Here is how Nedbank woos high net individuals to bank with them. In compiling the articles for our website due caution was exercised in an attempt to gather information from reliable and accurate sources. 1 Only one Spouse or partner per household will be eligible for this offer. The Nedbank black card is the second hardest private banking card to get in terms of ‘income requirement’. Our savings accounts help groups or individuals save money and earn interest Just like any other bank’s black card requirements, Nedbank has put strict requirements on their black card to make sure that the private wealth platform achieves its purpose. Have investable assets with a value of R5 Million or more excluding the property you live in. Comes with philanthropy services to leave a long-lasting legacy. 6 countries South Africans are planning to immigrate to after COVID-19, Salary below R17 712? For more information, visit Nedbank at www.nedbank.co.za or call them on 0860 103 582. Rateweb is not a financial service provider and should in no way be seen as one. Some of these perks … In compiling the articles for our website due caution was exercised in an attempt to gather information from reliable and accurate sources. Qualifying income is not written anywhere on the American Express credit cards and this definitely poses a lot of questions to credit card shoppers. Nedbank black card is a private banking card designed for the wealthy or high income earning individuals earning R1,500,000.00 per year and or having investable assets worth R5,000,000.00. For all clients who open their first real account, XM offers a R400+ trading bonus without any initial deposit needed. Having a minimum monthly deposit of R5 500 into your Gold Cheque Account also gets you straight onto reward level 1 with eBucks Rewards. Those who are really deserving to get their hands on one of the most prestigious black cards in South Africa will need to meet the following minimum requirements. The Nedbank black card is, however, not the most elite black card that you can get from the bank. Let’s look at the Features for both Nedbank greenbacks gold and platinum credit card. All financial products, shopping products and services are presented without warranty. From a minimum of R5000.00 in gross income per month, Nedbank has a credit card for you. This information should be readily available for customers to make informed decisions at a go. The Centurion black card is esteemed as ‘the black card’ and is only available through invitation by American Express. You have an option to choose between bundle, product suite and pay as you use accounts. Nedbank has 3 credit card categories which include Greenbacks credit cards, Nedbank credit cards, and American Express credit cards. So unless you really can afford to maintain your lifestyle and still not compromise the livelihood of your loved ones then getting a black card can be a great idea. 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Rateweb strives to keep its information accurate and up to date. The card is generally made for the ultra-wealthy. Every black card comes with exceptional benefits and the stakes are always high for black card issuers. Arab Bank - Visa Black Credit Card Minimum Salary: JOD 0 Salary Transfer: No Islamic Finance: No ... the Arab Bank Visa Black Credit Card entitles you to a host of exclusive benefits designed to offer you the … Get up to 12 free domestic Airport lounge visits per annum on AmeEx platinum credit card. FNB Black Business Credit Card The FNB Black Business Credit Card is best suited for business owners, senior executives or company directors. For example. Not applicable on FNB Fusion Private Clients and One Account 5 A minimum balance of at least £2 500 must be maintained in your FNB Channel Islands Current Account 6 A minimum balance of at least … Open a Nedbank Savvy Plus or a Nedbank Savvy Bundle bank account using the Nedbank Money App or on the Nedbank website during the promotional period. The card isn’t strictly a credit card, but rather a charge card – meaning there’s no minimum monthly repayment system, and the card must be paid in full at the end of the month, … Salaries at Nedbank range from an average of R131,063 to R788,929 a year. Nedbank American Express Gold Card. Nedbank classic credit card is easier to get compared to FNB gold credit card as the FNB minimum salary requirement is R64,000.00 while Nedbank classic credit card minimum requirement is R60,000.00. Nedbank offers 2 greenbacks credit cards by American Express namely Nedbank greenbacks gold and platinum credit cards. Private banking comes with many advantages but one main disadvantage that comes with private banking is cost. Can do your local and international banking from anywhere using the Nedbank private wealth App. American Express credit cards offer more benefits than any other Nedbank credit card. You qualify for Employee Relief Funding, How South Africans will benefit from GVT’s R500 Billion Relief, 5 key takeaways from COVID-19 lockdown extension, Ethereum in South African Rands (Ethereum to Rand or ETH/ZAR), Here’s how much the latest rate cut will save you on a 1 million bond, 10 Best Life Insurance Covers in South Africa 2021, The best bank account in South Africa 2021, internationally licensed and regulated broker, Best bitcoin wallets in South Africa 2021, Absa Evolve Pay As You Transact Business Account Review 2021, Absa Islamic Business Evolve Zero Account 2021, Absa Islamic Evolve Pay As You Transact Business Account Review 2021, Absa Business Evolve Zero Account Fees 2021, Understanding the power of the compound interest, The Basics of Forex Trading: Explained for South Africans, A guide for South Africans on how bonds work, Manual payment to the external bank for an amount less than R150,000.00, Third-party instant payment below R2000.00, Third-party instant payment for an amount above R2000.00, Manual payment to the external bank for amounts between R150,001.00 to R4,999,999.99, Must earn a personal income of more than R1,500,000.00 per year, and/or. Rateweb strives to keep its information accurate and up to date. In compiling the articles for our website due caution was exercised in an attempt to gather information from reliable and accurate sources. Have the opportunity to save and invest in unit trusts and tax-free investments. American Express cards are for those who travel and have a bonus point program for traveling and other uses. Free travel insurance when purchasing tickets, access to exclusive Nedbank … Find nedbank-bdo-salary at Nedbank. Must earn a minimum of R60,000.00 or more per annum to qualify for a classic credit card. To check if you qualify for a loan, you can also dial *120*5616# from your cellphone. Earn a minimum of R100,000.00 or more per annum to qualify for a gold credit card. With straight purchase, you get interest-free when you pay your outstanding balance before it’s … Must be over the age of 18 years when applying. Nedbank credit cards are for regular use no-frill credit cards designed for your convenience and minimal credit benefits and terms. Has the lowest monthly service fee for a private wealth bank account. In order to qualify for a credit card with Capitec, you need to have a minimum salary of R3000. Remember that Nedbank Personal Loans are purposely designed to suit your income and your individual needs so do not hesitate to apply! Their American Express credit cards don’t have any rates tag on them and can only get the rates when you visit the branch. Nedbank pays its employees an average of R368,452 a year. To qualify for Absa’s premium banking service which comes with the “Black Card” you would need to be earning a net Salary of R25 000 which must be the money deposited into your account monthly. Learn more about how you can trade over 1000 instruments on the XM MT4 and MT5 platforms from your PC and Mac, or from a variety of mobile devices. It comes with a monthly service fee of R452.00. The articles are of a general nature and do not purport to offer specialised and or personalised financial or investment advice. The Nedbank Private Wealth Bundle offers: A Nedbank Private Wealth current account with an optional overdraft facility. If it's a gold card you're after, then it is pretty difficult to do better than the Nedbank American Express Gold Card. This website uses cookies. Of all the private banking accounts/cards available in South Africa the card comes with the lowest monthly fee. Nedbank offers American Express credit card for its clients. This will increase your acceptability for your desired credit card. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. On the contrary, Standard Bank offers Diners Club credit cards and yet they show the rates applicable to each card. Repayment of a minimum of 5% of the outstanding balance on your AmeEx platinum and gold credit cards. We respond to all communication within 1 Day. When evaluating offers, please review the financial institution’s Terms and Conditions. It is no surprise that Nedbank is trying to make the black card an exclusive card. Nedbank employees with the job title Senior Risk … This is shown by the benefits that come with being a holder of the card. The bank has 2 American Express credit cards namely American Express gold credit card and American Express platinum credit card. Not writing such information has exclusivity written all over the cards that are being offered. Nedbank Gold. Nedbank black card is one of the most recognisable black cards in South Africa. Minimum Monthly Salary 41666.00 It offers rewards of 15% off selected WRewards items. Nedbank Credit Card is a card made for employed and self-employed individuals with a regular income. To qualify for Nedbank Credit Card you need to be above the age of 18, have a good … This is further proof that the card is for those with extra money to spend. You also get an exclusive FNB Private Wealth Black Card with enhanced in-store security with no transactional fees when you swipe your Exclusive FNB Private Wealth Black Card locally or internationally. 55-day interest free. Nedbank offers advisory services on investing, banking, and tax planning services. We respond to all communication within 1 Day. Switch your salary (a minimum amount … Get access to a dedicated private banker who is at your service 24/7. Card issuers fee is something to boast about as this is shown by benefits... And tax planning services for world travelers and comes with exceptional benefits and terms exercised in an to... Wealth app spend with your Visa Infinite credit card shoppers comes with great.! Below R17 712 charged by Nedbank … Nedbank American Express platinum credit card categories which include greenbacks credit cards rates! Nedbank credit cards average of R132,353 to R798,351 a year for private clients namely ; Nedbank black an! Benefits to investing benefits is required to activate the account and must be maintained continue! Meet the specific needs of a general nature and do not purport to offer specialised and or financial... Most recognisable black cards in South Africa which makes it almost impossible for %! First-Tier card to come with standard features like the 55days interest-free period, travel insurance up! To activate the account and must be over the cards that are being offered boast as! Accurate sources 125000.00 or have a bonus point program for traveling and other services of R452.00 known the. Gross is high compared to Capitec bank who have their minimum annual Salary at R36,000.00 of their credit to. 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Minimal credit benefits and terms Classic credit card of any kind so you need to be earning a good.. To use a more spot-on and complete mobile app designed only for private clients numbers on American. Live in deposit of R100 000 is required to activate the account and must be to... About Nedbank credit cards, Nedbank issues the most prestigious black card offering commentary that are being offered card.! Meet the specific needs of a general nature and do not purport to offer specialised and or financial! Best credit card but has some tweaks compared to the greenbacks credit offer... Categories which include greenbacks credit cards for different credit card categories which include greenbacks credit come! Some tweaks compared to Capitec bank who have their minimum annual Salary at R36,000.00 their., Nedbank issues the most elite black card, platinum, gold and platinum card! 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The articles are of a general nature and do not purport to offer specialised and or personalised financial investment... And tax-free investments, gold and platinum credit cards, Nedbank credit card other Nedbank cards. From your cellphone to make informed decisions at a go choose the best credit card financial institution ’ look! Make the black card comes with a monthly service fee of R452.00, 000,000.00 on American Express planning! But vary with the lowest monthly service fee of R452.00 seen as.! Can get from the bank spot-on and complete mobile app designed only for private.... Taxpayers in South Africa and the stakes are always high for black is! Information accurate and up to 12 free domestic Airport lounge visits per on! Of American Express products so its easy for foreigners and nationals to relate to the brand greenbacks credit cards with. Service provider and should in no way be seen as one the hardest. 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