Swipe that card…
After reading Sizwekazi Jekwa’s article in the 15 February issue of Finweek titled “The sky-high charge of the mile-high card”, I feel compelled to provide further information. Hopefully this will give your readers a balanced view when determining the value offered by credit card products and rewards programmes.
Nedbank’s Greenbacks programme is not an Air Rewards Programme. It has numerous redemption partners that enable members to redeem points for a range of “everyday” benefits including shopping vouchers, payment of bank charges and making contributions to unit trusts and charities. Redemptions for “miles” offered by various airlines are simply one such redemption opportunity.
The SAA Voyager range of credit cards, which Nedbank operates for our partner SAA Voyager, offer the “best in class” airline rewards card programme in the country and compares favourably with similar international programmes. The SAA Voyager Cards provide “miles junkies” with miles and other benefits appropriate to their needs and spend behaviour. The benefits are designed to reward cardholders and frequent flyers for their loyalty to the SAA Voyager Card, SAA Voyager and SAA.
Savvy SAA Voyager cardholders who concentrate their spend on the SAA Voyager Amex cards can earn a free return flight to Cape Town from Johannesburg by spending R108 000 (18 000 miles * R6 spend per mile) on the Premium Card, R117 000 on the Gold Card and R126 000 on the Classic Card.
This, however, is not the full story. There are further benefits that result in free flights for specific behaviours and opportunities to accelerate the earn rates shown above.
The South African consumer has a broad variety of payment mechanisms (credit card, debit card, cheque, cash etc) and rewards programmes to choose from.
Consumers need to select the products that suit their requirements and provide benefits that offer value. Nedbank and SAA Voyager are more than comfortable that our products offer legitimate value to customers.
The Razor’s Edge Business Intelligence survey last year rated the SAA Premium Card as being the “Most Valuable Standalone Card” in the R6 000 and R12 000 spend per month categories. Judging from the volume of card applications received and card spend, consumers appear to agree.