Credit card facility question

[s0lar]

I have had a credit card for the past ten years but only recently had to call on a emergency sum of funds beyond my means. I believe a manual of sorts _should_ written in plain english explaining credit card best practise. This would clearly be against the lender interest (pun intended). The guide is overly convoluted for a IT bloke like myself.

Some background (amounts are fictitious for simplicity). I used my credit card to the value of R50 000. I paid R10 000 back into the credit card's straight facility now owing R40 000. My credit card is split into R50 000 straight and R50 000 to budget totalling credit of R100 000.

My question is such should I pay into my straight or budget facility? I assume interest and possibly other factors would determine the best facility.

 

[airborne]

Budget apparently charges interest immediately so perhaps start there?

 

[HavocXphere]

Credit card <> Emergency reserve...not unless you can pay it off in one shot anyway.

Lecture aside...OP you don't even say what bank / card...how is anyone supposed to help you? The terms can differ substantially.

 

[AdrianH]

As far as I remember, you will pay the full interest on the R50 000 straight transaction until the entire amount of R50 000 is played off.