Swipe that card…

Finweek English Edition - - Letters - GRAEME HOLMES

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.

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