Having a credit card can be a way to broaden your financial planning possibilities. It can also be a way to tap into more resources in case of an emergency. With Discovery Bank’s focus on incentivizing good financial habits, knowing how to make a credit card application at Discovery can be an interesting way to build a good credit history as well.
In this article we will bring you information about the requirements needed to prepare for a credit card application at Discovery Bank. We will tell you about the necessary documents to apply, ways to start your application procedure, the associated fees related to the different cards Discovery offers and more.
Keep reading this article and learn more about how to apply for a Discovery credit card!
What do you need to be able to start your application at Discovery Bank?
There are a few requirements you must fulfill before you can apply for a Discovery Bank credit card. First, you must be 18 years old or above and be able to prove it using a valid South African ID document.
You must also earn enough to be in the qualifying yearly income required for the card you have chosen. The Gold card can be issued to people who earn between R100.000 and R350.000 per year. The Platinum card’s yearly earning bracket is R350.000 to R850.000. And the Black card requires you to earn R850.000 or more per year.
There are also monthly service fees you must be able to pay to use your card. The Gold card has a R30 fee, while the Platinum card comes with a R60 fee. The Black card’s fee costs R110 per month.
Although there are Discovery cards that do not require a rigorous credit history , like the Gold card, others such as the Black card will only be issued to applicants who have excellent credit scores. It is advisable to try to keep a good credit history if you plan to apply for a credit card in the future.
How To Apply For A Credit Card At Discovery Bank?
No matter what card you have selected for you, there are a few documents you must present whenever you wish to start an application at Discovery Bank. These are:
- A valid South African ID document or smart book;
- Bank statements for the last 3 consecutive months that show your monthly income;
- Your latest 3 salary slips or proof of income if you are self-employed.
When you have this documentation ready, you can choose between two ways to apply for your card, both of them using the internet.
The first option is to download the Discovery Bank smartphone application, available in app stores for Android and iOS devices. Please make sure to download and install only the official app, and keep in mind you will need to be registered for internet banking to log into your account.
When you download the app and log into your profile, you will need to:
- Choose the “Account” button on the bottom of the screen;
- Tap the “Menu”option on the top-right corner of the screen;
- Tap on “Add account”;
- Choose “Credit card account”;
- Fill in your average gross monthly income on the appropriate box;
- After reading the terms, tap on the consent box if you agree with it;
- Choose the card you think fits you better from the options given to you;
- After reading the terms, tap “Get this” if you agree with the conditions;
- Tap the “Next” button, then fill in the required information on the next screens;
- When you are shown your preliminary credit offer, analyze the terms and conditions. If you are comfortable with them, tap “Accept”;
- Choose your payment plan options;
- Set your card PIN and inform where it should be delivered to finish your application.
The second option is to access Discovery’s internet banking page from your smartphone or computer. If you are not a client yet, you must open a new account with the bank and register for online banking. If you are a client and have registered already, you need to log into your account.
After logging in, you can follow the instructions given for the application on the app. If you need any assistance , you can call the Discovery customer service line at 0800 07 96 97. Attendants are available 24/7 to assist or give any additional information you may need when trying to apply for a credit card.
Now that you know more about applying for a credit card at Discovery, continue reading our blog and keep yourself informed with many handy life tips like this one!
Frequently Asked Questions
Is Discovery Credit Card FNB?
In the past, Discovery was a joint venture with First National Bank (FNB). Presently, however, Discovery Bank has fully become its own banking institution, which means it issues its own credit cards. Cards that were issued by FNB have now been migrated to Discovery’s administration.
How Long Does It Take To Get A Discovery Bank Card?
If your application has been approved, Discovery virtual credit cards are available immediately to you on the bank’s smartphone application. If you have opted for a physical card, it may take up to three working days for it to be delivered to you. Keep in mind the card can only be delivered to you in person.
Is It Worth Getting A Discovery Credit Card?
That depends on your needs and financial profile. Since Discovery Bank adopts a behavioral banking model, it aims to foster better spending habits with rewards as incentives. This means having a credit card with them may be interesting if you wish to build a healthy credit score and history.
It is advisable to make a plan and assess your financial profile before applying for a card with Discovery Bank or other banking institutions.