So I went to Capitec

cr@zydude said:
That's a step in the right direction, but my Virgin Money card is still free. It only had a R150 sign up fee.
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Got my VMCC when there was no sign up or delivery fee. Until Capitec give me zero monthly fee, I aint biting and will stick with VMCC
 
FlashSA said:
Got my VMCC when there was no sign up or delivery fee. Until Capitec give me zero monthly fee, I aint biting and will stick with VMCC
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The R150 sign up fee includes delivery.

supersunbird said:
Indeed, my R37pm Nedbank one was the cheapest I could find in 2014, besides the VM CC.
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The Capitec card has no rewards though. By paying R35pm I'd only save the R1.50 eft fee I pay to settle my Virgin Money card.

I know I'm being cheap, but I won't pay for no good reason. That is until my VC card fails and I need a credit card at that moment. The I'll be kicking myself.
 
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So over and above the monthly R35 fee do we still pay the standard global one subscription and transaction fees?
 
daiyaan said:
So over and above the monthly R35 fee do we still pay the standard global one subscription and transaction fees?
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It should include the R5.50pm savings account fee. Swipes are free on the credit are as they are with the debit card. You are charged for efts, debit orders and cash withdrawals though.
 
cr@zydude said:
It should include the R5.50pm savings account fee. Swipes are free on the credit are as they are with the debit card. You are charged for efts, debit orders and cash withdrawals though.
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Went today and it doesn't include the R5.50 fee. So it's R35 + R5.50. They'll get back to me on monday but think I'll stick to VMCC.
 
You guys are bickering over small change. the interest on Capitec acounts covers expenses with a few rand lying there. Other banks do not give interest. they may have reward programs but none of them compares to the interest I'm getting.
 
backstreetboy said:
Went today and it doesn't include the R5.50 fee. So it's R35 + R5.50. They'll get back to me on monday but think I'll stick to VMCC.
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And if you only take the CC? I dunno but I thought it would be self explanatory that if you also use the savings account you have to pay that fee.
 
backstreetboy said:
Went today and it doesn't include the R5.50 fee. So it's R35 + R5.50. They'll get back to me on monday but think I'll stick to VMCC.
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When they charged R50pm, it included the savings account at R5.50pm. This is still a reduction, but not as much as I had expected.

Magnum said:
You guys are bickering over small change. the interest on Capitec acounts covers expenses with a few rand lying there. Other banks do not give interest. they may have reward programs but none of them compares to the interest I'm getting.
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It's small change, but Capitec needs to do more to convince those of us running Capitec savings and Virgin Money credit cards to switch. As it stands, switching would add R35pm to by bank fees and only save me R1,50pm, the eft I do to VM. The great interest on my Capitec savings account is irrelevant to those of us already with them.

Swa said:
And if you only take the CC? I dunno but I thought it would be self explanatory that if you also use the savings account you have to pay that fee.
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It didn't work that way up until last month. The R50pm fee gave you the savings and credit card, there was no way to get only the credit card.
 
backstreetboy said:
Effort (jumping through hoops) vs reward...
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Well, doing 2 transfers a month through an app, logging into the website once a month (will happen anyway, takes under 5 min) and doing monthly shopping at Checkers Hyper (will happen anyway) and putting in petrol anywhere (will happen anyway) and using my CC instead of Capitec debit card (swiping will happen anyway) is hardly hoop jumping.

For this minimum effort I earn about R650 ebucks, which can then be sold for R780 cash in myaccount, which after the R151pm fees means a R630 profit, all this for swiping about R7000pm which happens anyway. I don't even make R630 interest with Capitec in a year.

EDIT:
/me puts on his monkey suit
 
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