Having a credit card comes with a range of advantages. It’s also a safer alternative to carrying cash and may come with a range of rewards.
It’s important to make sure that you pay the balance back in full each month, otherwise, you’ll pay interest. There best way to ensure that you are not paying vast amounts in interest is by paying back more than the minimum balance due.
How to find the best credit card in South Africa:
South Africa has a range of credit card offers, from banking institutions, to other financial institutions. You need to make sure that you find a credit card to suit your needs.
Shop around and compare interest rates, fees and charges. Choose a card with a great rewards programme if you plan to use your card regularly. There are various credit cards from which to choose, such as cash back, travel rewards, zero percent rates, prepaid debt cards, department store cards. Make sure you are clear about how you want to use it before applying.
For instance, if you are looking for a credit card for emergencies, you should try to find one with the lowest possible fees. If you’re looking for a card you’ll be using when travelling abroad, a credit card with the lowest international usage fees may be ideal.
Consider annual or monthly costs as well as all costs involved.
To find the best credit card in South Africa, compare loyalty reward schemes. Rewards programs can also be helpful and you can build your credit score. For instance, travel rewards credit cards offer a great opportunity to earn free points that can be redeemed for airfares, hotels or even cold hard cash.
If used correctly, credit cards can be ideal for financial emergencies or for buying big ticket items.