Are You Up for a Platinum Visa card?

27th January 2017

Platinum Visa card is a payment firm which provides a credit, debit and prepaid banking card service.

Clients can do their banking around the world as an individual or business. However, each card option has features and terms of use that rate clients by their credit worthiness.

The Platinum Visa card is a Very popular card in South Africa

Platinum visa card

Visa has allowed banks in any country to issue the cards to their clients.

In this way, the banks exercise third party control over who gets which card facility. Based on their terms and conditions but in line with Visa’s controls.

You can use the Visa cards at any Visa purchase point. And the merchants pay Visa for the use of their payment facility.

The bank has to incur the credit risk of each sale carried out using the card. Which is why they vet and profile clients based on their credit worthiness.

The Platinum Visa card is the highest standard Visa card option for high net worth clients.

The conditions for the use of the card vary from one bank to another but mostly depend on the client’s income and their credit ranking. Those with excellent credit get to use the Platinum Visa Card.

People with poor credit ranking have the option of some other Visa products such as Pre-Paid Debit Visa Card or Gold Card.

More about the Platinum Visa Card

To get a Platinum Visa Card in South Africa, you have to apply via your bank. The card is the card of choice for a luxurious lifestyle. And it is the highest ranked in the Visa suite of cards.

It works on a credit plan which allows clients to make payments or buy goods without having to deposit funds into it before the sale.

Other benefits that a Platinum Visa Credit Card holder can expect

Travel cover as well as Discounts on accommodation in certain hotels, a quick Lost Card replacement, Secure Online Purchases, Easy money transactions across the globe and the ability to Buy goods in over 200 countries that accept Visa.

Non-generic benefits for Platinum Visa Credit Card holders vary from bank to bank based on the trade link agreements the bank will have made.

In South Africa the banks may have deals with eBucks, airport private lounges, health or beauty spas and restaurants,  They offer these packages as part of their rewards for a client choosing to operate a Visa Platinum account with them.

In this regard, banks will then promote the use of the various Visa cards with extra benefits dependent on the card. The rewards may be awarded on a usage point system.

All info was correct at time of publishing