I just got off the phone requesting a credit limit increase with Standard Bank, that got me thinking. Whats the general perception currently associated with credit cards?
Do you have one, do you manage it responsibly?
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I just got off the phone requesting a credit limit increase with Standard Bank, that got me thinking. Whats the general perception currently associated with credit cards?
Do you have one, do you manage it responsibly?
I had three at one point in my life. Paid two off and cancelled them. Now I have one that I only ever use for things like Steam, Take 2 and so forth.
Credit cards are useful. I think it makes payment easier but you should have the money you are going to spend.
No renting a Car without one :)
As long as you manage a credit card properly and make sure that you reap some sort of benefit from it, I suppose there's no harm in having one
I do know OF a guy though that has 6 and maxes out one of them each month to pay off the others
I use my credit card for everything. However, I tend to keep it in a positive balance as much as possible. I usually just top it up every now and then (usually owe R1-2K on it), and put in a R2-3K. It's just convenient, don't have to draw cash, or pay transaction fees
It can get you in a whole lot of shit. Like take me for instance.
I have 2 credit cards.
Both over the max now.
I couldn't pay last month as I had o pay my son's doctor bills.
They phoned me at night, over weekends, sent me letters and sms's.
Now I have to pay double this month.
So we have about R1000 less for groceries.
Nice hey?
NOOOOT!!!!!!!!!!!!!!!!!!
I love mine. I use it as a debit card, by paying for everything - and then at month end I clear it with savings. Builds credit history and I can purchase things online / rent-cars-as-xero-said / book accommodation and plane tickets etc.
If you use a credit card when you don't have money reflecting in other accounts to match it, you start running into problems.
Had one, got rid of it. My debit card works perfectly for online purchasing etc.
Cash is king. If you don't got it, don't spent it :p
I use a credit card for just about everything; I very rarely use cash. I'm responsible with it, though, and pay it off in full every single month. I have a perfect record with the thing, the bank must hate my guts.
I usually have mine fully paid up and use for emergencies / buying steam games only, but had to use it for a expensive unexpected horrid surprise, so now back to paying it off again. Should be done in a few months.
Only have one which I try to keep in the POS as much as possible. Gonna be spanking it at the end of this month tho as I'm buying some plane tickets.
Overall I enjoy having one.
You say that like there's a difference between the two. :pQuote:
Originally Posted by Kiruna
Hope everything is ok after the nasty surprise. :(
I've got two, one I owe R800 on and the other hasn't been touched in two years, but yeah keeping the things in positive are better.
Yip, it's a necessary evil. But very handy to have if you have the self discipline not to go crazy with it. Think ABSA's getting pissed off with me for politely declining all their oh-so-kind offers to increase my limit. :D
Hmmm, I dunno hey ... apparently if you decline a limit increase it's very difficult to apply for one later on. I just let them increase mine willy nilly.Quote:
Originally Posted by WingNut
One day when I flee the country they're going to regret it. :D
(Dear ABSA, I'm kidding! <3)
Petrol, bank and woolworths. point is not to whore it, but to just use it with moderation. If you don't have money discipline you going to kak real soon along the line...
If you have a negative number on your CC its a good thing right? :o
Apparently it helps your FICA score.Quote:
Originally Posted by czc
Had a few back in the day and they got me into a good old pickle. It was my fault though and I lived with the consequences. As long as you can be responsible with it, it's a very very handy thing to have. But, so is a debit card :D
Only really use credit cards for Steam games, internet purchases and PIZZA!
Do I use it responsibly? Probably not, especially in the sense of Steam games, it is just so damn convenient and easy to buy games of Steam, it's almost like a drug:D
But if you can't manage it, those things are nastyl pieces of plastic which have a horrible habit of mounting up at the end of the month.
Well I did manage to get a homeloan.Quote:
Originally Posted by MrG
Mine is an emergancy card only as well as for my MMO addictions. But I dont overspend on it easily. At the moment Im about R1000 in debt for emergency car repairs that I didnt budget for but then again it will be clear in a few months. I tend to put x amount onto the card monthly and that is my spending budget on it. Altho its a bigger number till the other amount is paid off. Strangely enough ABSA hasnt contacted me in 3 years to increase my limit. And I actually will need to for incase. Im just happy that Medicross accepts my Edgars card for payment. I prefer paying the doctor's bill off in 6months. As for clothing accounts I have a few (aka most places that offers a card :P) But I only buy from the clothing places if my cards have been paid off. Otherwise I leave them at home.
I have to laugh though. Edgars told me I don't qualify for an Edgars card and Standard Bank gave me a credit card just after.
Doesn't your medical aid cover the doctors bills?Quote:
Originally Posted by Wyvern
One thing that is handy, is that you can budget, so expensive items can be paid off over a set period of time, this is quite handy albeit at a cost.
Standard Bank card is 55 days interest free...Quote:
Originally Posted by XeroS1x
Sweet, didn't know that. Unfortunately FNB is the bunch I'm with...Quote:
Originally Posted by czc
Unfortunately my discovery medical aid plan is a hospital plan only - all I can afford at the moment. Besides the fact that I see a doctor maybe once a year. But the past couple of weeks its been doctors, physio, xrays. All on the edgars card (which was thankfully clear so its gonna be easy to pay it back.)
Link to SB pdf http://www.standardbank.co.za/pdfs/p...redit_card.pdfQuote:
Originally Posted by XeroS1x
Quote:
Get up to 55 days’ interest-free credit if the full outstanding balance is paid by the due date each month.
only credit card I have at the moment is an RCS card (used for emergencies eg if my car breaks or if i need to buy something urgently) the only other card i have is my cheque/savings account nedbank mastercard tha i use for banking, paypal etc.
honestly im not a fan of credit cards though
Oh, so your ENTIRE outstanding amount needs to be settled each month. Interesting.Quote:
Originally Posted by czc
Most cards are like that, you only pay interest on the outstanding balance after 55 days ;)Quote:
Originally Posted by czc
I have a cheque card which is like a debit card but allows you to use it as a credit card. Comes in handy for booking movie tickets and buying online, or when I travel overseas.
Same here. MasterCard Cheque Card, Puresave for savings and credit card for.. credit. :)Quote:
Originally Posted by wolvie
I use one for every day purchases to save carrying cash and on transaction costs, have self imposed limit and don't take it drinking.
I've got two credit cards and I use them for different things. It's a necessity these days. Plus it helps with the credit rating for when you buy a house.
+1. FNB's cc is exactly the same thing, 55 days interest free.Quote:
Originally Posted by Fivel
I don't have a credit card. In fact, according to my bank's rules and regulations, I don't think I qualify for one. I prefer not to buy goods on credit, as I like to have paid for something in full before I use it. On the odd occasion that a title that I feel I simply cannot live without comes to STEAM or GoG, my brother lets me use his credit card once I have deposited money into his account.
Use my credit card as my 'spending money account' every month. It's got a fairly low limit, and it's paid off on a monthly basis. As Xero said, if you can manage it, it's awesome. Gives you a good credit history, and certain purchases can only be made using a CC.
That's pretty much exactly why I got one. It was impossible to buy certain things without a CC which was super annoying. Now everything is sorted though :)Quote:
Originally Posted by GReeN_ORB
i luv my virgin money cc. firstly because i bank with absa (yuck!) i can pay money into my card with no transaction fees. secondly they don't charge any admin or monthly fees