Straight or budget??

[Blondie21]

I got a few questions here regarding a credit card account.
Firstly what is the difference between straight and budget?
Can I still purchase something if I don't have available credit in my straight account but I do have in my budget account?
And if I wanted to use my budget would I be able to use it if I recently lost my credit card and waiting on a new one.

 

[satanboy]

How is this "General Broadband Discussion" related?

tl'dr
Don't use budget.

 

[Blondie21]

How is this "General Broadband Discussion" related?

tl'dr
Don't use budget.

Well excuse me for not finding the correct category to post this and if you don't use budget I guess this doesn't relate to you so why give your 5 cent comment?? Bored much

 

[Dairyfarmer]

Firstly what is the difference between straight and budget?

Straight - you borrow money from the bank at a high interest rate
Budget - you borrow money from the bank at a high interest rate over a long period

 

[Blondie21]

Straight - you borrow money from the bank at a high interest rate
Budget - you borrow money from the bank at a high interest rate over a long period

Thank you for explaining that

 

[satanboy]

Well excuse me for not finding the correct category to post this and if you don't use budget I guess this doesn't relate to you so why give your 5 cent comment?? Bored much

2nd post and you are sarcastic....nice

I meant DON't USE BUDGET....not I don't use budget. Struggle with comprehension much?

 

[bchip]

I got a few questions here regarding a credit card account.
Firstly what is the difference between straight and budget?
Straight - the full amount goes off your account immediatly
Budget - Over what time do you pay it off (eg 3months, 6 months, 12 months)
You will be charged interest on the outstanding amount, something like 20%-25%

Can I still purchase something if I don't have available credit in my straight account but I do have in my budget account?
No clue

And if I wanted to use my budget would I be able to use it if I recently lost my credit card and waiting on a new one.
How would you pay/swipe without a card? Would only be possible to use your account online if
wrote down the CVC number and the card hasnt been blocked yet

 

[Pineapple Smurf]

on budget with FNB you can also pay it off quicker than what you initially signed up for - i do this often, so instead of 6 months payments i will do 4 months or whatever

 

[Blondie21]

2nd post and you are sarcastic....nice

I meant DON't USE BUDGET....not I don't use budget. Struggle with comprehension much?

I do actually, I'm dyslexic too.. Sarcasm though, that's generic. It's like a defense mechanism against rude people I guess.

 

[longboy]

on budget with FNB you can also pay it off quicker than what you initially signed up for - i do this often, so instead of 6 months payments i will do 4 months or whatever

What did you buy that was so expensive that you had to use Budget?

 

[Blondie21]

I got a few questions here regarding a credit card account.
Firstly what is the difference between straight and budget?
Straight - the full amount goes off your account immediatly
Budget - Over what time do you pay it off (eg 3months, 6 months, 12 months)
You will be charged interest on the outstanding amount, something like 20%-25%

Can I still purchase something if I don't have available credit in my straight account but I do have in my budget account?
No clue

And if I wanted to use my budget would I be able to use it if I recently lost my credit card and waiting on a new one.
How would you pay/swipe without a card? Would only be possible to use your account online if
wrote down the CVC number and the card hasnt been blocked yet

I thought so too, but you know technology these days can surprise you

 

[satanboy]

What did you buy that was so expensive that you had to use Budget?

Clearly not the rules to MyBB.

 

[SauRoNZA]

The difference is the depth of the hole you'll find yourself in after you get it all wrong.

If you are already maxing out your straight facility the last thing you should be doing is using the budget facility.

It should be a massive alarm bell to tell you things are going very very wrong.

 

[Blondie21]

Clearly not the rules to MyBB.

Nothing, I just saw the option of adding a budget facility of R14000 on my credit card and was curious about it

 

[longboy]

Clearly not the rules to MyBB.

Knowing Chuck he probably spent 50k on guns and drugs

 

[Blondie21]

The difference is the depth of the hole you'll find yourself in after you get it all wrong.

If you are already maxing out your straight facility the last thing you should be doing is using the budget facility.

It should be a massive alarm bell to tell you things are going very very wrong.

Then why would banks even allow something like that? We bank for you is all rubbish

 

[bchip]

I thought so too, but you know technology these days can surprise you

Transactions are linked to a card, which is linked to an account.
So generally if the card is active then anything goes, and if you've recorded the
card as lost or stolen and it's deactivated then nothing will go off - but the account is still active.

Think of it as 2 gates to get through, generally they close the 1st gate so you cant get to the 2nd.

 

[Pineapple Smurf]

What did you buy that was so expensive that you had to use Budget?

nothing expensive, i have my straight level on bare minimum as low as you can go and only use it for filling up my bike each week and the weekly groceries.
if i am tempted in buying something for camping or whatever i put it on budget and pay it off asap to save on too much interest.

 

[Blondie21]

Thanks for the replies and advice It answered all my questions, as for satanboy I'll start going for English lessons

 

[Pineapple Smurf]

Knowing Chuck he probably spent 50k on guns and drugs

Guns? more like Lego