Welcome to the world of Credit Cards. We at Credit Cards are here to ensure that your dreams of owing a credit card one day are fullfilled.
We are here to provide a one stop resource for credit cards in South Africa. With a host of resources available to us and a host of authorities in the world on finance writing content for us weekly, we’re hoping that by the time you leave our new site that you will leave enriched and fullfillled.
Introduction to credit cards
What are credit cards and what are the functions of a credit card?
A credit card, simply put, is a plastic card with a strip at the back which is magnetic. Most people today are reluctant to carry money around as this is not safe, making credit cards a safer option to pay for goods, simplifying the banking process for many individuals.
A credit card is useful to have for both small purchases on a daily basis, or to cover emergencies of many descriptions. A credit card can be obtained through your bank so that your financial solutions and issues can be met.
Shopping around is a good idea for the best credit card deals; many banks offer points and special deals so it might be beneficial to find the best credit card deals on offer from various banking institutions and not necessarily take the one that is readily on offer to you by your own bank.
The moment that you receive your credit cards from your lender, you will be able to put it to good use, which will prove to be useful for booking for flights and also for travelling.
Every credit card has a limit, and before the card is issued to the individual the bank will look into the individual’s credit history before the card is issued to the card holder.
Having an excellent credit rating will always put you in good stead when applying for any type of credit, including a credit card. Different credit card companies have different interest rates and policies which vary from one financial institution to another. Most importantly, having a credit card does not mean that this is your own money that you are using. You still have to pay the money back to the bank, but tread lightly; buying on credit can spiral out of control. Always staying on top of your credit card repayments is vital to keeping your head above water.
Nice to have, but tread lightly when it comes to borrowing money from anyone, your credit card being no exception.
Types of credit cards
So of course being the 1 stop resource shop for credit cards in South Africa we need to tell you what sort of credit cards there are on offer at the moment.
Visa Credit Cards – The world’s number 1 selling credit card.
Master Cards – The world’s number 2 selling credit cards.