Credit Card EFT

[Spidey1]

Hi

My wife's car broke down over the weekend (aircon compressor) and will be fixed by today. Now first of all, I am a disciplined credit card user (always paying of my account at the end of the month). I want to pay the mechanic for fixing the car by credit card EFT (Discovery - FNB). I was wondering whether such a payment would attract immediate interest? Or would it be regarded as a normal credit card transaction (55 days interest free).

Any help or answers are appreciated!

 

[Toitjie]

Hi

My wife's car broke down over the weekend (aircon compressor) and will be fixed by today. Now first of all, I am a disciplined credit card user (always paying of my account at the end of the month). I want to pay the mechanic for fixing the car by credit card EFT (Discovery - FNB). I was wondering whether such a payment would attract immediate interest? Or would it be regarded as a normal credit card transaction (55 days interest free).

Any help or answers are appreciated!

AFAIK immediate interest, I drew money once(R800, didn't look at the card I was using) and hit interest

 

[SinghDude]

Cash attracts interest from day one.

Does mechanic not have a CC machine to swipe ?

 

[chrisc]

Cannot you EFT from a regular bank account? That way you will incur no interest.

 

[guest2013-1]

It would attract immediate interest and incur a "withdrawel fee" of around R120. At least, ABSA/Standard Bank charges that fee for when you withdraw cash or do EFT payments with your credit card.

CC's are for swiping.

 

[noxibox]

I don't recall FNB charging any exorbitant fee, but they will charge interest from the moment you transfer the money.

 

[Dolby]

It would attract immediate interest and incur a "withdrawel fee" of around R120.

... don't think this is right.

An EFT doesn't attract a withdrawel fee of that amount. Probably closer to R3.00 or so