Standard Bank Platinum Credit Card

Quick summary

• Credit limit: Up to R250,000
• Monthly fees: R40 service fee + R68 card fee = R108 total
• Initiation fee: R190 (once-off)
• Minimum income: R58,000 per month
• Interest-free period: Up to 55 days when balance paid in full
• Airport lounge access: 12 visits to Standard Bank Library Lounge, Fluent Lounge and Bidvest domestic lounges
• Travel insurance: Automatic basic cover up to R1 million for emergency medical expenses
• Rewards programme: UCount Rewards with up to 1% back on qualifying purchases
• International transaction fee: 2.50%

Pro Tip: Before applying, use the JustMoney Budget Calculator to ensure you can comfortably manage a premium credit card alongside your existing financial commitments.

What is the Standard Bank Platinum Credit Card?

The Standard Bank Platinum Credit Card is a premium Mastercard designed for professionals and high earners who want travel benefits, lifestyle perks and substantial purchasing power. It sits above the Titanium card in Standard Bank's credit card hierarchy, offering enhanced lounge access, higher-tier travel insurance and additional lifestyle benefits suited to frequent flyers and business travellers.

As a Mastercard product, this card is accepted at millions of merchants worldwide, both in-store and online. It integrates seamlessly with Standard Bank's digital banking ecosystem, including the Banking App, Internet Banking and mobile wallet solutions like Apple Pay, Google Pay and Samsung Pay.

The Platinum Credit Card is particularly attractive to South Africans who travel frequently from OR Tambo International Airport, as it includes complimentary access to the Standard Bank Library Lounge in the domestic departures terminal, along with visits to the Fluent Lounge at Lanseria and Bidvest Premier Lounges nationwide.

How does the Standard Bank Platinum Credit Card work?

Credit limit and spending power
The Standard Bank Platinum Credit Card offers a maximum credit limit of up to R250,000, subject to your income, credit profile and affordability assessment. This substantial limit provides flexibility for large purchases, travel bookings and managing business expenses. Your approved limit is determined during the application process and can be reviewed for increases over time as you demonstrate responsible repayment behaviour.

Interest-free period
When you pay your statement balance in full by the due date each month, you enjoy up to 55 interest-free days on purchases. This makes the Platinum card an effective tool for managing cash flow, as you can make purchases early in your billing cycle and only pay for them after more than seven weeks without incurring interest charges.

Monthly repayments and budget facility
The minimum monthly payment is 3% of your outstanding balance. For larger purchases over R200, you can use the Budget Facility to spread repayments over 6 to 60 months at a fixed interest rate. This provides predictable monthly instalments for significant expenses while keeping your revolving credit available for other purchases.

Personalised interest rates
Standard Bank offers personalised interest rates based on your credit profile. Rates typically range from prime-linked rates for well-qualified applicants to the maximum permitted under the National Credit Act. Paying your balance in full each month means you can avoid interest charges entirely, making the card cost-effective for disciplined spenders.

Lounge access qualifying criteria
To enjoy complimentary lounge access, you need to spend R8,000 or more on your Platinum Credit Card in the prior month. If you meet this threshold, you receive up to 12 complimentary visits per year to the Standard Bank Library Lounge at OR Tambo, Fluent Lounge at Lanseria Airport and domestic Bidvest Premier Lounges. If you don't meet the spending threshold, lounge visits are charged at R200 for domestic lounges and R400 for international lounges.

Standard Bank Platinum Credit Card benefits

Premium travel benefits

• 12 complimentary visits per year to the Standard Bank Library Lounge at OR Tambo International Airport (Domestic Departures Terminal)
• Access to the Standard Bank Fluent Lounge at Lanseria International Airport
• Complimentary visits to Bidvest Premier Lounges at domestic airports including Cape Town, Durban King Shaka, George, East London, Port Elizabeth and Bloemfontein
• Access to Café Blue and the Connection Hub at OR Tambo
• Free automatic basic travel insurance when you book and pay for tickets with your card, including up to R800,000 for accidental death and permanent disability
• Emergency medical expense cover of up to R1 million for international travel (Gold, Platinum and Titanium cardholders)
• Up to 20% off Emirates flights when booking through Standard Bank Leisure Desk
• Up to 20% off Avis car rentals worldwide with complimentary upgrades
• Up to 10% discount on car hire through Rentalcars.com and Budget International
• Up to 15% discount on IHG Hotels & Resorts across Europe, Maldives, India, Middle East and Africa
• Up to 5% cashback on hotel bookings through Booking.com

Lifestyle and entertainment benefits

• Complimentary Silver status membership with Legacy Lifestyle Rewards
• Up to 15% off online purchases at Wine-of-the-Month Club
• Access to Mastercard Priceless Cities for exclusive experiences and offers worldwide
• Access to food and lifestyle offers on the Priceless Specials MEA App
• 25% discount on your first Fiit fitness subscription payment
• Two months of Lingokids free for new users, then 30% off monthly subscriptions
• Mastercard Gamer Pass access for online gaming community benefits
• 75% UNICAF scholarship off programme tuition fees when paying with your card
• Up to 10% off selected items on Farfetch.com
• Reduced shipping fees through MyUS for purchases from thousands of U.S. online retailers
• Exclusive shopping offers at luxury European shopping centres through Bicester Collection
• 1GB of AlwaysOn Wi-Fi for R19, with 11GB free

Security and insurance features

• ATM Robbery Insurance covering incidents where you're forced to withdraw cash under threat
• Purchase protection from Mastercard for added confidence when shopping
• Chip and PIN protection for secure in-store transactions
• 3D Secure verification for safe online shopping
• Free lost card protection and immediate replacement services
• Zero liability on unauthorised transactions when reported promptly
• Up to 10% discount on surgeries and procedures through Mastercard Medical Tourism Concierge
• Optional Credit Card Protection Plan to cover outstanding debt in case of death, disability, dread disease or retrenchment

Digital banking features

• Contactless Tap to Pay for purchases up to R500 without a PIN
• Apple Pay, Google Pay, Samsung Pay, Fitbit Pay and Garmin Pay compatibility
• SBG Mobile Tap to Pay for payments directly from your smartphone
• Virtual card creation for secure online shopping
• SnapScan and Masterpass integration for QR code payments
• Free Internet and Cellphone Banking access
• MyUpdates notifications to track spending in real time
• Full card management through the Standard Bank App including blocking, limit adjustments and international travel notifications

UCount rewards programme

• Earn up to 3 times more UCount Rewards Points compared to debit or cheque card transactions
• Up to 1% back in Rewards Points on qualifying purchases
• Up to 20% back in Rewards Points with Choose Your Own Rewards categories (Grocery, Fashion or Lifestyle)
• Up to R10 back per litre of fuel at participating Caltex and Astron Energy service stations
• Up to 50% back in Rewards Points when booking flights with your qualifying credit card
• Redeem points for flights, vouchers, Avios, savings contributions, loan repayments and more
• Access to UCount Rewards Travel Mall for discounted travel bookings

Standard Bank Platinum Credit Card fees

Understanding the complete fee structure helps you calculate the true cost of the Platinum Credit Card. All fees shown include VAT and are effective from January 2024.

Use the JustMoney Budget Calculator to see how these fees fit into your monthly budget and whether the Platinum card's benefits justify the costs for your spending patterns.

Eligibility requirements

To qualify for the Standard Bank Platinum Credit Card, you must meet the following criteria:

• Be at least 18 years of age
• Earn a minimum of R58,000 per month
• Be a South African citizen or permanent resident (foreign nationals with valid work permits may also apply)
• Pass Standard Bank's credit assessment and affordability checks
• Meet FICA (Financial Intelligence Centre Act) requirements

Documents required:

• South African ID or passport (for non-citizens)
• Recent payslip or proof of income
• Three months of bank statements
• Proof of residence not older than three months

Check your credit health: Before applying, use the JustMoney Credit Score Checker to review your credit profile and understand your likelihood of approval. A strong credit score improves your chances of getting a higher limit and better interest rate.

How to apply for the Standard Bank Platinum Credit Card

For existing Standard Bank customers

Via internet banking:

1. Sign into your Internet Banking profile
2. Select 'Borrow' from the top navigation menu
3. Complete your information and follow the on-screen steps
4. Find out which credit card you qualify for

Via the standard bank app:

1. Sign into the Standard Bank App
2. Tap the 'More' icon at the bottom of your screen
3. Select 'Open a new account'
4. Choose 'Personal Lending'
5. Tap 'Apply' under the Credit Card option and follow the prompts

Who should consider this card?

The Standard Bank Platinum Credit Card is best suited for:

1. Frequent domestic travellers: If you fly regularly from OR Tambo, Lanseria or other major airports, the 12 complimentary lounge visits provide genuine value, especially for business travellers who spend time waiting between flights.
2. High earners seeking premium benefits: With a R58,000 minimum income requirement, this card targets professionals who can take advantage of travel insurance, lifestyle discounts and a high credit limit.
3. Business professionals: The R250,000 credit limit and Budget Facility make this card suitable for managing business expenses, travel bookings and larger purchases with flexible repayment options.
4. International travellers: The lower international transaction fee of 2.50% compared to entry-level cards, combined with travel insurance up to R1 million for medical emergencies, makes this card practical for overseas trips.
5. Rewards optimisers: Cardholders who actively use UCount Rewards can earn up to 3 times more points than with debit cards, plus access to Choose Your Own Rewards categories for up to 20% back on selected spending.
6. Security-conscious consumers: The combination of ATM robbery insurance, purchase protection and comprehensive fraud monitoring appeals to those who prioritise security.
7. Lifestyle enthusiasts: Access to Mastercard Priceless Cities, Legacy Lifestyle Rewards and various retail discounts provides ongoing value for those who enjoy premium experiences.
8. Private banking prospects: The Platinum Credit Card serves as an entry point to Standard Bank's premium banking services, with potential for upgrading to Private or Signature Banking as your financial profile grows.

Take control of your financial future

Before applying for any credit card, it's essential to understand your current financial position and ensure you can manage credit responsibly. JustMoney offers free tools to help you make informed decisions.

Budget calculator

Use the JustMoney Budget Calculator to map out your monthly income and expenses. Understanding your cash flow helps you determine whether a Platinum credit card fits comfortably into your budget and how much credit you can realistically manage without overextending yourself.

Credit score checker

Your credit score plays a significant role in your application outcome and the interest rate you're offered. The JustMoney Credit Score Checker allows you to:

• View your credit score for free
• Understand factors affecting your creditworthiness
• Identify any negative listings or errors on your credit report
• Track improvements over time as you build healthier credit habits
• Get matched with products suited to your credit profile

Ready to explore your options? Visit JustMoney.co.za to compare credit cards, check your credit score and use our financial tools to make confident, informed decisions about your financial future.

Disclaimer: The information provided on this page is for informational purposes only and does not constitute financial advice. Credit card approval is subject to Standard Bank's credit assessment criteria and lending policies. Fees, rates and benefits are subject to change. Please confirm all details with Standard Bank before applying. JustMoney is not responsible for any decisions made based on this information.