FNB Fusion

I've read this whole thread and I'm still confused about this fusion account. What is the difference between the Fusion Account and a normal Cheque Account with an overdraft facility? Would they not operate the exact same way?
 
t_girl said:
I've read this whole thread and I'm still confused about this fusion account. What is the difference between the Fusion Account and a normal Cheque Account with an overdraft facility? Would they not operate the exact same way?
Click to expand...

From what I have learnt over the last couple of days is the following....

to answer your question high level it is ‘yes’ but the differences are....and this is depends on what package and pricing option you are on @ FNB, my answer is in the context of PW

- You won’t pay for a credit facility / overdraft fee - on PW it is rebated anyway
- Biggest difference is that your ‘usual’ credit card swipes can now be done on the Fusion account - these are advertised as ‘30 days interest free’, I expect all other transactions to incur daily interest charges as the facility is used for payments and transfers.
- When I asked to convert I expected FNB to take away my credit card but they just converted my cheque acc into a Fusion accout, kept my OD limit as the facility but they dropped my OD interest rate dramatically which was a nice surprise.
- Also card swipes you earn ebucks @ the credit card earn rate as well, not the reduced cheque account card rate.

Biggest unknown for me is how to distinguish when to pay for those card swipes so as not to incur interest - even FNB seem unsure of that. What I have asked them to do is time my statement to 1 day after my salary deposit.
 
Ah ok, I see.

I never use my overdraft which means I don't pay the overdraft fee. I don't ever use my FNB Credit Card either - I really just keep it cos it makes my credit score look nice. I could never figure out eBucks so all my swipes come from my discovery card so I can get discovery miles. And switching my cheque card to Fusion would mean I pay an extra R80 pm to keep the credit card account. Looks like this one is definitely not for me.

Thanks for the clarification, @iEverything .
 
Hoping someone could please confirm whether or not it's possible to get a linked card on the fusion account?
 
t_girl said:
I've read this whole thread and I'm still confused about this fusion account. What is the difference between the Fusion Account and a normal Cheque Account with an overdraft facility? Would they not operate the exact same way?
Click to expand...

They do.

Except it's a credit card attached to the account that works anywhere and everywhere unlike a cheque card.
 
t_girl said:
Ah ok, I see.

I never use my overdraft which means I don't pay the overdraft fee. I don't ever use my FNB Credit Card either - I really just keep it cos it makes my credit score look nice. I could never figure out eBucks so all my swipes come from my discovery card so I can get discovery miles. And switching my cheque card to Fusion would mean I pay an extra R80 pm to keep the credit card account. Looks like this one is definitely not for me.

Thanks for the clarification, @iEverything .
Click to expand...

So just kill off the separate credit card?

The whole point of Fusion is to simplify and only have one card and account.
 
SauRoNZA said:
So just kill off the separate credit card?

The whole point of Fusion is to simplify and only have one card and account.
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I feel like cancelling my credit card would affect my credit score - the length of time I've had, plus the credit limit on there wouldn't be matched by the fusion facility so not worth it.

I understand why other people would choose to get it, but I just don't think it's for me.
 
t_girl said:
I feel like cancelling my credit card would affect my credit score - the length of time I've had, plus the credit limit on there wouldn't be matched by the fusion facility so not worth it.

I understand why other people would choose to get it, but I just don't think it's for me.
Click to expand...

It should be about the same ultimately.

Do you really need the credit score? I see so many people pumping up this magical unicorn credit score and worrying about it endlessly for no real reason at all.
 
SauRoNZA said:
It should be about the same ultimately.

Do you really need the credit score? I see so many people pumping up this magical unicorn credit score and worrying about it endlessly for no real reason at all.
Click to expand...
Cancelling the card probably won't effect the score if already in the "excellent" category. Maybe lose a select few points but nothing that would prevent you from getting credit if you keep on using the fusion card. Many people have strange misconceptions about the score.
 
SauRoNZA said:
It should be about the same ultimately.

Do you really need the credit score? I see so many people pumping up this magical unicorn credit score and worrying about it endlessly for no real reason at all.
Click to expand...

I'm planning to buy a car soon, and at some point I need to buy a house, so yes I really need to upkeep my credit score in order to get a good interest rate. If you already have a car and house, the credit score probably isn't that important as you probably don't need much credit...
 
I am considering getting a fusion account but worried about my ebucks reward level.
will i still get point for overdraft, cash at the till , etc?
 
bar1 said:
I am considering getting a fusion account but worried about my ebucks reward level.
will i still get point for overdraft, cash at the till , etc?
Click to expand...

Most of it is the same.

Some of it is even easier.
 
Also thinking about converting wife’s account to Gold or Premier Fusion just makes it easier one card with access to credit etc.
 
newby_investor said:
Gold fusion must be new, when I got mine it was only available on Premier level.
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All levels are on Fusion Gold, Premier, PC and PW

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ok, so I decided to go ahead and get a fusion account.

what's going to happen with my other account/credit card?
is it going to be automatically canceled?
 
bar1 said:
ok, so I decided to go ahead and get a fusion account.

what's going to happen with my other account/credit card?
is it going to be automatically canceled?
Click to expand...
Did you sign up in a branch?

You can have several accounts running concurrently. You probably have to go in to close the other one.
 
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