Apple’s revolutionary device, iPhone, combined with Vitality Active Rewards will help motivate and encourage Discovery Bank clients who are Vitality members to live healthier lifestlyes.
Vitality Active Rewards is an in-app Vitality programme that rewards you for getting active, driving well and spending responsibly. As a Vitality member, you can fund your iPhone by achieving your weekly exercise, drive and money goals every month for 24 months.
Who can use the Vitality Active Rewards with iPhone benefit?
To qualify for this benefit:
- You need to have activated Vitality Active Rewards. If you haven’t yet activated the benefit, do so by downloading the latest version of the Discovery app and navigate to the Vitality tab, then click on Vitality Active Rewards.
- You must have a qualifying Discovery Platinum credit card, Discovery Platinum full banking suite, Discovery Black credit card, Discovery Black full banking suite, Discovery Purple full banking suite or Discovery Purple Wealth full banking suite that is in good standing.
- ‘Good standing’ means that none of your Discovery Bank accounts and credit facilities are overdrawn, in arrears, in default, or subject to any legal process with Discovery Bank including keeping your Know Your Client and Anti Money
Lauderinginformation up to date. ‘Legal process’ excludes debt review as defined in the National Credit Act 34 of 2005.
- In order to activate the
you need to have sufficient credit in your available balance at the time of activation. benfit
- The credit eligibility criteria will consider the status of your account as it relates to good standing, your credit facility limit and the available balance on your credit card account.
- Only the primary Discovery Bank account holder will qualify for the Vitality Active Rewards with
- Only one iPhone benefit can be active in a 24-month period.
How does Vitality Active Rewards with iPhone work?
- If you are a qualifying Discovery Bank client, you have the opportunity to activate Vitality Active Rewards with iPhone and choose from a variety of iPhones based on the credit you have available.You can fund an iPhone in full provided that you have the qualifying Discovery Bank product , select the iPhone model specified for your Discovery Bank product, and achieve all your weekly Vitality Active Rewards exercise, drive and money goals.
- You are allocated an iPhone based on your qualifying Discovery credit card
colourand qualifying Discovery Bank account which may be fully funded through the benefit. You may select an iPhone valued above your allocated iPhone based on your qualifying Discovery credit card and qualifying Discovery account. If you select this option, you are not entitled to cash back on the difference in value between the selected device, and the predefined device.
- If you change from one qualifying Discovery Bank account to another, it will impact on your maximum cash back benefit.
|Discovery Bank card colour||Discovery Bank product||iPhone that you can fully fund||Maximum monthly cash back|
|Platinum||Credit card only||iPhone 8 (64GB)||R500|
|Suite||iPhone XR (64GB)||R640|
|Black||Credit card only||iPhone XR (64GB)||R640|
|Suite||iPhone 11 (64GB)||R714|
|Purple||Suite||iPhone 11 Pro (64GB)||R1050|
Example: You are a Black Suite client qualify for an iPhone 11 64GB, but you select an iPhone 11 256GB which has a sales price of R1 800 more, that R1 800 difference will not be covered by your Vitality Active Rewards cash back. You will have to pay this difference over 24 months (plus interest) as part of the monthly instalment, regardless of whether you meet your Vitality Active Rewards goals or not.
You can activate the benefit if you have a qualifying Discovery Bank account and have activated Vitality Money, and can boost your cash back by having Vitality Health and/or Vitality Drive. Any combination of Vitality Money and Vitality Health and/or Vitality Drive can earn cash backs based on your engagement levels with the Vitality Active Rewards programme. To achieve the maximnum cash back on your iPhone, you will need to have activated all three Vitality Active Rewards programmes.
Maximum monthly Vitality Active Rewards with iPhone cash backs per bank product.
|Number of goals achieved in statement cycle||Platinum Discovery credit card||Platinum Discovery Suite||Black Discovery credit card||Black Discovery Suite||Purple Discovery Suite|
|0-3 or non-qualifying||0%||0%||0%||0%||0%|
|4-6 and qualifying||17.5%||17.5%||17.5%||17.5%||17.5%|
|7-8 and qualifying||25%||25%||25%||25%||25%|
|9-10 and qualifying||50%||50%||50%||50%||50%|
|11+ and qualifying||100%||100%||100%||100%||100%|
|Maximum repayment qualifying for the cash back||R500||R640||R640||R715||R1,050|
- This benefit guide does not replace the existing terms and conditions of your credit agreement with Discovery Bank. The terms of this benefit guide must be read and understood in addition to your existing credit agreement. The iPhone benefit is a
24 monthbudget transaction created against your existing credit card account. The benefit is applicable to qualifying Discovery Bank customers who are primary account holders. As you pay down your budget facility, the amount becomes available on your single credit facility for you to utilise. Your iPhone budget transaction will incur interest at your prevailing credit facility lending interest rate.
- Your monthly
instalmentis due and payable and included in the minimum amount due ofyour credit card account against which the budget transaction of the iPhone benefit is processed. The budget transaction and instalmentswill reflect on your monthly credit card statement. Should your iPhone transaction date fall due within 15 days of your existing credit facility billing date, then your first instalmentwill be posted in the following calendermonth.
- You could earn a dynamic interest rate based on your Vitality Money status.
- You may earn Vitality active rewards cash backs which will be applied to the
minimumamountdue (including your iPhone budget instalment) as reflected on your credit card statement. The Vitality active rewards cash backamount is dependant on the number of goals you have achieved and the type of qualifying Discovery bank account you hold. You may activate only one iPhone benefit at any given time.
- You can have an active Vitality Active Rewards with iPhone benefit and Apple Watch benefit at the same time.
How to activate Vitality Active Rewards with iPhone
- Download the latest version of the Discovery Bank app.
- You will be able to see whether you qualify for the Vitality Active Rewards with iPhonebenefit by clicking on the iPhone Benefit menu under the Behavioural Banking section ofthe App.
- Tap on the slider with the Vitality Active Rewards with iPhone card to view the benefit.
- If a primary bank account holder with a credit facility already has an active Vitality ActiveRewards with iPhone benefit, they do not qualify to activate the benefit again in order toget a the latest iPhone.
- If at any stage you are no longer eligible for this benefit, your ability to activate thebenefit will be removed.
Select and collect your iPhone from the iStore
- Go to the iPhone benefit on the Discovery Bank app to browse the iPhones you may qualify for and calculate your monthly cash back or repayments. Then visit an iStore near you to select your iPhone.
- Ask the iStore assistant to assist you with scanning the iPhone’s serial number (barcode) using the Discovery Bank app to view your estimated cash back based on your goal achievement with Vitality Active Rewards each month.
- To complete the activation process, accept the terms and conditions of the benefit. A QR code will be generated and a budget purchase will automatically be added to your chosen Discovery Bank account, which is payable over the next 24 months. Present your QR code to the iStore assistant to complete the process and walk out with your new iPhone.
- Your iPhone QR code is not transferable. It cannot be exchanged for cash or any other iStore product.
- Accessories will not be included as part of the Vitality Active Rewards with
Keep achieving your goals to reduce your instalments
- If you do not meet any of your weekly Vitality Active Rewards goals, you will forfeit your monthly cashback and would have to pay the full installment amount for the iPhone. You will then be liable to Discovery Bank for a monthly
instalmentamount due on your qualifying Discovery credit card. This amount can vary depending on the retail price of the iPhone at the time of collection.
- By activating the Vitality Active Rewards with iPhone benefit, you agree that you will meet your weekly Vitality Active Rewards goals each month of your 24 months iPhone budget facility period and Discovery Vitality will cover a portion of the cost of the iPhone based on the number of goals you achieve.
- If you don’t meet your Vitality Active Rewards exercise, drive
andmoney goals, you will be liable to pay for the monthly instalmentdue on your Discovery credit card account.
- Your monthly instalment is based on your contracted credit facility
debitinterest rate .Youwill earn a dynamic interest rate on your iPhone budget transaction.
- Only the primary Discovery Bank account holder can activate the Vitality Active Rewards with
iPhonebenefit. Secondary Discovery Bank account holders do not qualify for the benefit. Transfers from the primary Discovery Bank account holder to any other person will not be permitted.
- If you are unable to achieve your goals because of illness, travel needs, or any
otherfactors, you will still be liable to pay the monthly instalment– this iPhone instalmentamount is due and payable and is included in the minimum amount due on the Discovery credit card.
- Your qualifying Discovery Bank account must have a monthly spend of at least R5 000 on a Discovery Platinum credit card and/or full banking suite and R7500 on Black credit cards and/or full banking suites or Purple full banking suites to qualify for your monthly
cash backon your instalmentamount. This spend will be determined each month to assess cash backeligibility. You can request a limit increase online or on 0860 99 88 77.
- If you reach only some of your weekly goals in a given month, your
instalmentamount will be reduced by your engagement in Vitality Active Rewards.
- Your rewards will be calculated on a
four weekcycle from the first Saturday post your purchase of the iPhone. Your budget instalmentwill be charged and cash backpaid into toyour credit card account on the first Wednesday after the 4 weekcycle has run.
- Monthly spend is calculated at the end of each reward cycle. You will not qualify for cash backs if you do not meet these minimum spend thresholds for the month and will be charged the full iPhone repayment
instalmentfor that month.
- When you activate this benefit, you agree that your existing payment instructions to Discovery Bank
remainsunless updated by you.
- The monthly instalment is included in the minimum amount due on your credit card amount.
Standardpayment process of your account will be followed.
- If a monthly instalment is unsuccessful, Vitality will stop calculating your Vitality Active Rewards goals that count toward your Vitality Active Rewards with iPhone benefit. Once you have paid all amounts that are in arrears, Vitality will start calculating these goals again. Any goals achieved during the period that you were in arrears will not be retrospectively allocated once you bring your account up to date.
Adjustment of Vitality Active Rewards goals
It is important to note that the Vitality Active Rewards goals are dynamic: they adjust upwards and downwards based on your behaviour and goal achievement to either gradually encourage you to improve your behaviour or to keep you motivated and engaged at the current level or a lower level should that be more appropriate for your level of engagement with the Vitality Money, Drive or Health programs. The Vitalty Active Rewards benefit rules, terms, and conditions apply.