Ever heard of the high net worth club?

9th January 2017

If you belong to this exclusive club, there are credit cards for high net worth people like you.

How much money must you have to be considered a High Net Worth Individual? (HNWI) The most quoted minimum amount is in the region of R1 million in liquid assets.

The top end High Net Worth Individuals come in at R30 million. If you’re in this bracket, read on. If not, read anyway, you may soon get there.

Credit cards for high net worth individuals 

Credit cards for high net worth

These cards are status symbols in the credit card world and give the holder virtually unlimited extras. Such as high credit limits, great interest rates, air miles, cash back, travel and personal concierge services.

The benefits of a premium credit card rely on payment of the outstanding balance being paid on time and in full every month.

Barclay Card Prime

  • R42, 000 minimum monthly income
  • R25 initiation fee
  • R40 monthly service fee
  • Complimentary lounge access at airports
  • Purchase and extended warranty protection
  • No Cash Back or Rewards

Additional Visa card privileges include exclusive offers on restaurants, travel and shopping, as well as budget facilities of up to two years.

ABSA Platinum Credit Card

  • R25 000 minimum monthly income
  • R150 initiation fee
  • R40 monthly service fee
  • Expert advice
  • Exclusive discounts and offers
  • No balance transfer

Extra card options include special offers on dining out, lifestyle and shopping. It also offers an extended warranty and purchase protection on big ticket electrical items.

American Express Platinum Credit Card

  • R25 000 minimum monthly income
  • R165 initiation fee
  • R62 monthly service fee
  • American Express Card rewards
  • Balance transfer available
  • Travel insurance

Credit cards for high net worth elites like you

American Express SAA Voyager Premium Credit Card

  • R25 000 minimum monthly income
  • R1 950 initiation fee
  • No monthly fees
  • Earn 1 air mile for every R6 spent
  • Earn 19 000 Bonus Miles on first-time SAA ticket purchases
  • Air Miles expire after three years

 

Standard Bank Titanium Credit Card

  • R25 000 minimum monthly income
  • R145 initiation fee
  • R42 monthly service fee
  • No fees on purchases
  • Free secondary cards
  • No cash back or rewards

 

FNB Premier Credit Card

  • R30 000 minimum monthly income
  • R165 initiation fee
  • R63 monthly service fee
  • Free comprehensive travel insurance
  • eBucks rewards – up to 2% on purchases and 15% on fuel
  • No balance transfer
  • 55 days interest free provided outstanding balance is settled in full
  • No purchase fees
  • Free access to airport lounges

 

Nedbank Platinum Credit Card

All info was correct at time of publishing