View Full Version : Best Credit card
GhostSixFour
04-03-2011, 09:40 AM
Which is the best credit card out there currently. I'm looking at a silver or gold one. Also, I'm with discovery life, so getting theirs is an option as well. But that is more expensive than a FNB card for example.
What do you recommend?
DJTazzz
04-03-2011, 09:52 AM
Depends how you manage the card, if you settle your balance every month, then the type of card does not really matter. I don't buy into the schemes because there is usually a catch of some sort and it normally costs more.
I have the Nedbank gold visa/amex combination, I recently learnt there was an additional fee for being a part of the scheme over and above their annual fee. The points, I get, well I have not figured out what I can do with them other side from using them against items they have on offer. The points, well you need many thousands to get anything.
poorestguy
04-03-2011, 09:57 AM
virgin credit card!its free, unless u don't pay up withing 55 days of what u purchased.but seriously there are no monthly charges and its awesome for travels.any international atm withdrawal is only 11rands.i have one as a back ...since its free to keep.
Sasha_za
04-03-2011, 10:10 AM
agree with poorestguy, virgin credit card is the best, no fees.
How does one go about getting the Virgin CC, i am with FNB :), sorry not trying to hijack the post.
GhostSixFour
04-03-2011, 10:23 AM
How does one go about getting the Virgin CC, i am with FNB :), sorry not trying to hijack the post.
No worries. Same type of info.. Virgin sounds good..
kokzn
04-03-2011, 10:28 AM
+1 on Virgin CC
Also have some generous interest rates if you keep a positive balance :D
poorestguy
04-03-2011, 10:28 AM
http://www.virginmoney.co.za/vmsa/
DJTazzz
04-03-2011, 10:30 AM
http://www.virginmoney.co.za/vmsa/
I have had one before, they are ok.
etwylite
04-03-2011, 10:36 AM
Agree on Virgin Money - backoffice is ABSA by the way.
LoneWolf
04-03-2011, 10:48 AM
dont fall for a VCC...go and look @ the rates before you give them a call... its like 20% on your amount when in red...
kokzn
04-03-2011, 11:08 AM
dont fall for a VCC...go and look @ the rates before you give them a call... its like 20% on your amount when in red...
Any CC in the red is going hurt...
broken1
07-03-2011, 02:20 PM
I love the discovery credit card. We get hundreds a month in cash backs from shopping at pick n pay and other partner stores. Also got a few grand cash back when I went to Mauritius last year.
I love the discovery credit card. We get hundreds a month in cash backs from shopping at pick n pay and other partner stores. Also got a few grand cash back when I went to Mauritius last year.
agreed, I benefit significantly from the Partner discounts, especially with regards to HealthyFoods in combination with DiscoveryCC which ultimately translates into the 75% Medical Savings Booster.
Virgin Money is okay as long as you don't run into any queries or problems. I found that whenever I had problems and needed to get them to rectify it, it made me regret ever having considered dealing with them because it took repeated requests on my end (and finally posting on HelloPeter) to get them to fix the mistakes on their side.
I eventually gave up and cancelled my credit card with them but since they're free (no annual fee), I guess I can't really complain too much.
rudivdw
08-03-2011, 04:00 PM
I just decided against Discovery, they brag about their 10% cash back on certain items, but if you read the fine print:
Your maximum discountable spend at partner stores is limited to 30% of your total DiscoveryCard spend in that statement period, with your total cash back calculated on a limit of R10 000 spend at all DiscoveryCard partner stores.
That means, for example, since they have the iStore as one of their partners, for which I can get a 10% cash back (R700 on the biggest iPad) - I can only get that R700 back, if the cost of the item (R7000) is at least 30% of the total I have spent on the credit card that month, which in this case is more than R23000!
Or am I understanding it wrong?
Which is the best credit card out there currently. I'm looking at a silver or gold one. Also, I'm with discovery life, so getting theirs is an option as well. But that is more expensive than a FNB card for example.
What do you recommend?
In my opinion the best credit card is one which is the cheapest or which provides the best benefits for the lowest annual fee.
I don't actually make use of the credit facility - for others, the interest rates will also matter.
I recommend Virgin. They give 55 days interest free, they have some great positive balance interest. We've never had any problems dealing with complaints and queries. We also have our home loan with them.
Ultimately, having zero card fees is the best. You never have to worry about swiping. The only thing to know about Virgin is that you should decide in advance whether you want to work in the red or the green. Every time you cross the 0 mark between red and green you pay a fee. So choose a side and stick to it.
RustyPrincess
08-03-2011, 07:50 PM
The only issue with virgin, is that you have to provide FICA documents everytime, they renew your card. Difficult when all my mail goes to my post box or email, and I live with my parents. Lets hope I have no issues when they deliver my new cards tomorrow.
Sent from my GT-I9000 using MyBroadband Android App
deekay
08-03-2011, 08:27 PM
I just decided against Discovery, they brag about their 10% cash back on certain items, but if you read the fine print:
Your maximum discountable spend at partner stores is limited to 30% of your total DiscoveryCard spend in that statement period, with your total cash back calculated on a limit of R10 000 spend at all DiscoveryCard partner stores.
That means, for example, since they have the iStore as one of their partners, for which I can get a 10% cash back (R700 on the biggest iPad) - I can only get that R700 back, if the cost of the item (R7000) is at least 30% of the total I have spent on the credit card that month, which in this case is more than R23000!
Or am I understanding it wrong?
Too me it sounds like the most you can get back is 30% of your spend. So while you may not get R700 back you will get up to 30% of your total, it says "limited" so you can get whatever 30% of your total is.
Tosser
10-03-2011, 01:06 PM
The only issue with virgin, is that you have to provide FICA documents everytime, they renew your card. Difficult when all my mail goes to my post box or email, and I live with my parents. Lets hope I have no issues when they deliver my new cards tomorrow.
Sent from my GT-I9000 using MyBroadband Android App
I haven't experienced this when I received my new card.
Sent from my computer using windows why do people feel that I need to know this.
Ancalagon
10-03-2011, 01:18 PM
They are saying maximum cashback is R3000. Their limit for their calculations is R10000, 30% of which is R3000.
Imagine...
10-03-2011, 01:23 PM
Check out thinkmoney.co.za
Refraction
10-03-2011, 01:28 PM
The best credit card is the one in 30 pieces in the trash can :)
Dolby
10-03-2011, 03:17 PM
Slightly (very slightly!) off topic - but Amex phoned me and said I was preapproved for a card.
I'm moving in a few months, so it extra credit could come in handy, and I asked what the limit is. Her reply was that I'd know when I collect the card, as they have to credit check etc etc which I understand.
I said 'surely you mean once I've faxed those - but before you send the card?' but she was adament I have to collect the card. WTF?
Told them to keep it :/
pathseaker
12-03-2011, 08:21 AM
Virgin is the best no fees sort out your stuff online :) Love it
mak2000
12-03-2011, 09:03 AM
Woolies Credit Card is good if you shop a lot a Woolworths
NiTeD
12-03-2011, 06:54 PM
VM is the best,one rate, no budget or straight. No annual fees, had to pay R120 pa with Fnb.
Cost Conscious
03-07-2012, 12:59 PM
I looked at the market & as soon as I saw that *anks here charge a monthly or annual charge - I passed.
I recently noticed an ad for Virgin and discovered that they do not charge a monthly fee, so I signed up. Weird thing is that ABSA is the bank behind, and they are under-mining their own-brand chargeable credit cards (lowest charge R14 a month).
I come from a place where you get a CC at no charge, because the banks make their money on merchant commission. Here in SA, the *anks "burn the candle at both ends".
I've heard Capitec will bring out their long delayed own CC 1Q13.
Reaver.ZA
03-07-2012, 01:08 PM
agreed, I benefit significantly from the Partner discounts, especially with regards to HealthyFoods in combination with DiscoveryCC which ultimately translates into the 75% Medical Savings Booster.
Edit: NVM. old post... :o
patrick
09-07-2012, 05:42 PM
agree with poorestguy, virgin credit card is the best, no fees.
+1 for virgin, just keep your card in the credit.
beans100
09-07-2012, 07:40 PM
All the Virgin CC holders. I've been checking out the card for some time now. Everyone is saying that its free, no charges, as long as you don't use it.
I saw that they charge between R20 and R50 for cash and ATM deposits. How much do you pay for EFT payments to the card, or is thta free?
supersunbird
09-07-2012, 08:15 PM
All the Virgin CC holders. I've been checking out the card for some time now. Everyone is saying that its free, no charges, as long as you don't use it.
I saw that they charge between R20 and R50 for cash and ATM deposits. How much do you pay for EFT payments to the card, or is thta free?
You pay as much as your relevant bank charges you for a EFT. Remember, the EFT is paid by the sender, not the receiver...