Can't Get a Credit Card

[Voicy]

So if you intend to use it as a kind of debit-card-with-credit-card-perks, or as some kind of emergency backup, go for it.

My rule of thumb is that you should be able to bring the balance of your card back to 0 (after maxing it out) within 2 months. If not, then the credit limit is too high.

My 2 cents.

This.

I use my C/C for everything from online transactions to Point of Sale purchases at the Spar. I don't pay for transactions so it works out fine.

However, I only use my C/C if I have a positive balance of equal or greater value in my other account. At the end of every month I then clear my C/C deficit.

What is quite interesting about doing it that way is seeing how much you spend on random crap seeing as it excludes monthly debit orders for insurance/med aid etc.

It makes you a lot more conscious about your spending when you have to pay a lumpsum out of your savings account to clear it than when you simply deduct small amounts off your savings acc. with each purchase. Call it the frog-in-a-pot-of-boiling-water mentality.

 

[Fuma]

A CC is cancer.

 

[bin3]

As others have said:

First just get a debit card / cheque account. Use that for online purchases.

A little later banks will start contacting you for credit cards: get one with a low credit limit and join the rat race.

But seriously: just start with the debit card for now and worry about the rest later. 19 is way too young to start getting into debt :-D

 

[Tpex]

Thanks people, some really solid advice here unfortunately it won't let me quote you all

Do you really think it's wise to get a credit card when your income is not guaranteed?

Don't spend money that you don't have, that's how people end up with debt issues..

Nope not money I don't have, I just want the convenience of only having to pay it off at the end of the month, even though I have the cash at that time. Thankfully my parents hammered into me how bad debt it

Try different banks dude, absa, std bank, virgin money, nedbank etc

Go open a clothing account if you can. Discovery also offers credit card facilities. It's just a matter applying to many banks but you may fall short and perhaps it is a good thing.

Thanks I forgot about Virgin

Another option might be the Discovery Credit card, where you actually have to first deposit money into the card, and then you can spend it. Do this for a couple of months and you can then ask them to actually give you a credit limit. This will show them that you are responsible enough to manage a credit card and not a financial risk, and you will get a taste of what it's like without running the risk of bad debt.

Do you have to be a discovery member?

A cheque card is also a possibility. Have you considered one of them? You have a cvv number and can purchase online with it. Also, it helps with your credit rating to have a cheque account.

The biggest problem with credit in SA is that you have to have debt to be able to get more credit. Debit orders will definitely help to improve your credit rating. Edgars accounts aren't to difficult to get and MTN is fairly lenient when applying for a contract with them.
That is how I managed to get the rating I have now
My suggestion is to try that route because as most guys here said, credit cards are THE DEVIL...

Noted thanks

19 years old in 2011. Joined in 2008. Hmmm. Retroactive ban!

Those where the days

 

[Nerfherder]

A CC is cancer.

Cancer is having a combined income of R60k pm and getting a terrible interest rate on your 90% bond because you have a no credit history.

 

[UnUnOctium]

Cancer is having a combined income of R60k pm and getting a terrible interest rate on your 90% bond because you have a no credit history.

I feel your pain.