Capitec Credit Card - Anyone got it?

I crunched the numbers on the different credit card options in SA (inc programs like Pretorium Trust & Koopkrag) a couple of months ago and FNB won by a country mile. You should get back around 5%-7% of your card spend in eBucks, which translates (with discounts) to a return between 8 and 12%. For me that's something between R2000 and R3000 per month.

I'm a big Capitec fan, but in terms of value for money FNB is the easy choice.
 
Speedster said:
I'm a big Capitec fan, but in terms of value for money FNB is the easy choice.
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Only if you want to play the eBucks game, which I for one, do not. The easy choice then becomes Virgin Money, which has no annual or monthly fees whatsoever, as long as you don't owe them interest you'll never pay them a cent.
 
NarrowBandFtw said:
Only if you want to play the eBucks game, which I for one, do not. The easy choice then becomes Virgin Money, which has no annual or monthly fees whatsoever, as long as you don't owe them interest you'll never pay them a cent.
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I personally am not a fan of FNB as i feel they are a wolf in sheeps clothing, but the ebucks game does actually work well and is very easy if you do all your banking with them. It's not like discovery vitality, if you just swipe your FNB cards and use online channels you can still get a few hundred back. If you shop at checkers you can get a lot more but you don't have to.




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NarrowBandFtw said:
Only if you want to play the eBucks game, which I for one, do not. The easy choice then becomes Virgin Money, which has no annual or monthly fees whatsoever, as long as you don't owe them interest you'll never pay them a cent.
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Fair enough, although it is a VERY easy game to play for R3k per month. That's the equivalent of about a R5k per month salary increase. Anyway, if you prefer Virgin Money and it works for you then keep at it!
 
blunt said:
the ebucks game does actually work well and is very easy if you do all your banking with them
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That is a very big 'if' in my case, currently every single banking product I use is with a different company i.e. bond, investment, current account, car finance (when I still had some) and credit card. 5 different products, 5 different companies I deal with, in all cases because they offer me the best deal for the product in question.

FNB seems to be the only option where the package deal might work out better overall, but I've yet to find an easy way to determine if it truly will be better overall for me specifically.
 
NarrowBandFtw said:
That is a very big 'if' in my case, currently every single banking product I use is with a different company i.e. bond, investment, current account, car finance (when I still had some) and credit card. 5 different products, 5 different companies I deal with, in all cases because they offer me the best deal for the product in question.

FNB seems to be the only option where the package deal might work out better overall, but I've yet to find an easy way to determine if it truly will be better overall for me specifically.
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Indeed I used to be all over the show (capi, sahl, virgin and absa hl) but ended up getting my biggest bond with FNB and wanted to use the flexi facility to transfer in and out easily , so worked out better.

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wazup said:
Visited a branch in Centurion last weekend, to apply for one, they couldn't give me one yet - according to the consultant it is only available in the Western Cape for the time being.
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It only officially launched this past Sunday...
 
Went to the branch at Lifestyle on Monday. Wanted to get the same limit as I have on FNB, pay FNB off and close it, but the limit they can give me is only 60% of what I have at FNB currently.

Basically refusing to take my money. First time ever I've been disappointed in Capitec.
 
Ho3n3r said:
Went to the branch at Lifestyle on Monday. Wanted to get the same limit as I have on FNB, pay FNB off and close it, but the limit they can give me is only 60% of what I have at FNB currently.

Basically refusing to take my money. First time ever I've been disappointed in Capitec.
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FNB is very generous with their limits that's another bonus, not that I use it but it's good to have in case of emergency. Virgin only gave me about 15% of what FNB gave me

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Ho3n3r said:
Went to the branch at Lifestyle on Monday. Wanted to get the same limit as I have on FNB, pay FNB off and close it, but the limit they can give me is only 60% of what I have at FNB currently.

Basically refusing to take my money. First time ever I've been disappointed in Capitec.
Click to expand...

This is the true test of a bank, when credit/lending facilities start coming into play.

Debit facilities are very easy to implement and keep your customers happy, but most complaints with banks generally centre around credit/lending facilities.

Capitec has had it easy until now, but expect more of the same when they start offering loans, vehicle financing and home loans...
 
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Mike Hoxbig said:
This is the true test of a bank, when credit/lending facilities start coming into play.

Debit facilities are very easy to implement and keep your customers happy, but most complaints with banks generally centre around credit/lending facilities.

Capitec has had it easy until now, but expect more of the same when they start offering loans, vehicle financing home loans...
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Hit the nail on the head I guess. I will just keep my FNB card then. I don't understand the fuss - it doesn't cost me anything really, just a little more inconvenient to be at 2 separate banks, and I wanted to much rather give them my money, than FNB, because I thought they deserve it more.

Turns out I was wrong about that then. Win-win for me.
 
Ho3n3r said:
Went to the branch at Lifestyle on Monday. Wanted to get the same limit as I have on FNB, pay FNB off and close it, but the limit they can give me is only 60% of what I have at FNB currently.

Basically refusing to take my money. First time ever I've been disappointed in Capitec.
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It is affordability based, will you be able to get yoyr current limit at FNB again will your current budget?
 
blunt said:
FNB is very generous with their limits that's another bonus, not that I use it but it's good to have in case of emergency. Virgin only gave me about 15% of what FNB gave me

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Your FNB limit must be massive. Virgin gave me 3 times my salary as a limit.

I still don't see the appeal in the Capitec credit card. Only advantages are 1 card instead of 2, and free efts to pay off your credit balance.
 
Mike Hoxbig said:
This is the true test of a bank, when credit/lending facilities start coming into play.

Debit facilities are very easy to implement and keep your customers happy, but most complaints with banks generally centre around credit/lending facilities.

Capitec has had it easy until now, but expect more of the same when they start offering loans, vehicle financing and home loans...
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:erm:

Capitec, which is also known for lending to poorer borrowers, has in recent years worked on attracting more well-to-do clients, who do more transactions.

The bank said its net transaction fee income rose to 37% of its net income, compared with 32% a year ago.
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http://mg.co.za/article/2016-09-27-capitec-bank-cuts-back-lending-to-poorer-workers

Most of Capitec's business is lending money, that is their primary business model. If I am not mistaken, that is how they started: as a loan provider.
 
cr@zydude said:
Your FNB limit must be massive. Virgin gave me 3 times my salary as a limit.
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Yes, or he was very unlucky with Virgin, my Virgin Money limit is big enough to make me uncomfortable with it actually, not too long ago it could buy a brand new entry level car.
 
NarrowBandFtw said:
Yes, or he was very unlucky with Virgin, my Virgin Money limit is big enough to make me uncomfortable with it actually, not too long ago it could buy a brand new entry level car.
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Lucky, mine is about a quarter of my salary.

Not that I need it, or use it...
 
How is the repayments and deductions, check now a friend of mine has a 12k limit, they deducted 7k yet they say he still owes 10k...

He is on straight.
 
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