What is the Nedbank Gold Credit Card?
The best-value credit card on the market, with the benefits you need. The Nedbank Gold Credit Card is designed for everyday South Africans who want affordable access to credit while earning rewards on their spending.
Get an affordable credit solution. Earn Greenbacks on all eligible spend. This card combines low monthly fees, generous rewards earning, and practical benefits that deliver real value, without the premium price tag of higher-tier cards.
How does the Nedbank Gold Credit Card work?
Dual card system:
When you join the Greenbacks programme, you'll be issued 2 credit cards – a Nedbank Mastercard credit card and a Nedbank Greenbacks American Express (Amex) credit card. Both these cards earn Greenbacks, but you get twice as many Greenbacks when you use your Greenbacks Amex card to make payments.
Greenbacks earning:
Every time you use your Greenbacks Amex Credit Card, whether you have a gold or platinum account, you earn 4 Greenbacks for every R10 spent. If you use your linked Nedbank Mastercard credit card, you earn 2 Greenbacks for every R10 spent. GB1 (One Greenback) is worth R0.028. So 1,000 Greenbacks would be worth R28.
Understanding how credit card rewards work helps you maximise benefits while maintaining good financial health.
What are the benefits of the Nedbank Gold Credit Card?
Greenbacks rewards:
- Get up to 2% unlimited cash back on your card spend
- Earn Greenbacks on all eligible spend
- Greenbacks never expire as long as you keep using your card
- No caps on Greenbacks-spend on your American Express Card
- Qualifying Greenbacks-spend on Mastercard and Visa cards is capped at R10,000
Partner discounts:
- Get up to 60% off your Nu Metro movie tickets and 50% off medium popcorn-and-soda combo
- Get 25c cash back for every litre of fuel when you fill up at bp with your Greenbacks-linked card
- Up to 30% off on flights when booking through Greenbacks Travel on Avo SuperShop
- Up to 10% discounts on Apple and Samsung devices on Greenbacks Exclusive Store
Redemption options:
- Withdraw Greenbacks as cash from any Nedbank ATM using your Greenbacks SHOP Card
- Pay with Greenbacks online or in-store wherever American Express is accepted
- Spend Greenbacks on prepaid airtime, data and electricity on the Money app
- Pay for online shopping with Greenbacks at Avo SuperShop
- Invest by transferring Greenbacks into notice deposit account or Unit Trust
- Pay for bank charges and card fees
- Donate to charities (WWF, Nelson Mandela Children's Fund, Sports Trust, Arts and Culture Trust)
Financial flexibility:
- Get up to 55 days' zero-interest credit
- Flexible repayment options
- Pay off your purchases over time with the budget facility
- Minimum repayment of 5% on outstanding balance
- Change your credit limit on request
- Use your card in-store, online, at ATMs or abroad
Learn more about maximising credit card benefits while using credit responsibly.
Fees and costs
| Fee Type | Amount |
|---|---|
| Monthly Service Fee | R40 |
| Credit Facility Fee | From R20/month |
| Greenbacks Linkage Fee | R32 (optional) |
| Card Swipes/Purchases | R0 (Zero charges) |
| Additional Card | R40/month |
| Interest-Free Period | Up to 55 days |
| Minimum Monthly Repayment | 5% of outstanding balance |
| Virtual Cards | Free (up to 10) |
| Face-to-Face Card Delivery | Free (first issue) |
| Transactional SMS | Free |
| Foreign Exchange Fee | 2% on foreign transactions |
| Interest Rates | From 20.40% to 22.25% (dependent on credit score) |
Value Assessment: With just R40/month plus optional R32 Greenbacks fee, this card pays for itself quickly with 2% cash back. Use the JustMoney Budget Calculator to determine if the rewards outweigh costs for your spending level.
Eligibility requirements
To apply for the Nedbank Gold Credit Card:
- You need to be over 18 years old
- You need to live in South Africa, and have a valid South African ID or a valid passport and work permit
- You need to earn at least R5,000 a month before tax and have a healthy credit score
Documents you'll need:
- Your South African ID or a valid passport and work permit
- Payslips for the past 3 months, or stamped bank statements for the past 3 months
Credit score matters: Check your credit score for FREE before applying to see if you qualify.
How to apply
Application Process:
- Create or log in to your Nedbank ID
- Complete the Gold Credit Card application
- Upload required income and identity documents
- Wait for credit assessment (typically 24-48 hours)
- Once approved, receive your dual cards (Mastercard and Amex)
- Opt in to Greenbacks programme to start earning rewards
- Activate cards and begin earning cash back
Who should consider this card?
The Nedbank Gold Credit Card is ideal for:
- Budget-conscious consumers who want rewards without high annual fees (just R40/month).
- Everyday spenders who make regular purchases and want cash back on all spending.
- First-time credit card users meeting the low R5,000/month income requirement.
- Responsible spenders who pay off balances monthly to avoid interest and maximise rewards.
- Nu Metro fans who watch movies regularly (up to 60% off tickets).
- Nedbank clients who want to consolidate banking and credit with one provider.
- Greenbacks members who want to accelerate reward earning through credit card spending.
Not sure if this card is right for you? Read our guide on choosing credit cards and learn about responsible credit use.
Take control of your financial health today
Credit cards deliver value when used responsibly. At JustMoney, we provide tools to help you succeed.
Free budget calculator
Can you afford R92/month plus responsible spending? Our Budget Calculator helps you:
- Assess if credit card costs fit your R5,000+ monthly income
- Calculate if rewards justify the R72-R92 monthly fees
- Plan to pay off full balance monthly
- Balance credit spending with savings goals