The African Bank credit card thread

[MB00]

Hehe. Sorry guys, no real whatsapp group. It was just a friendly way of saying to Zero that some of us have been doing this for months, and he has finally woken up to it.

:crylaugh: i thought the beef from the other thread waiting for proof of earnings was water under the bridge :crylaugh:

 

[MB00]

anyone else getting requests to provide docs to slide?

 

[ebrahim786]

Hehe. Sorry guys, no real whatsapp group. It was just a friendly way of saying to Zero that some of us have been doing this for months, and he has finally woken up to it.

Ha ha, lol

 

[Speedster]

My year has 12 months so its X12 if deposited monthly

Remember you still need to pay the credit card off, so the money is revolving, not accumulating.

 

[Zulfi]

My year has 12 months so its X12 if deposited monthly

Haha no man.. he used 10k in the example.. so if depositing 100k, itll be x10

Quite clever tho

 

[Caldo]

Hey Guys,
I have read through this entire thread, but I am just not understanding how the ABCC or ABNA gets you more eBs.

If i spend r5k online
And swipe the rest for about 17k
Checkers 6k
Fuel 2k

I get 17400 eB.

Can i do this differently via ABxx and get more eBs?

 

[Zulfi]

You guys realize that this swipe earns 0.5% ebucks atleast so on R100 000 it adds up quickly....

I dont qualify for that much credit anyway haha.. thanks tho

 

[Zulfi]

AB head office say my card can only be unblocked if I am refunded first. In order to refund, they require proof of my deposits. What a joke.

just a question, how did you prove this?

 

[Awesum]

What kind of credit limit did you guys take? They offered me R80k and from my understanding, you have to pay the monthly installment on that amount even if you don't use all of it.

It's basically like they give you a loan for that amount on the card and you repay it monthly with interest and a compulsory life cover.

 

[Speedster]

What kind of credit limit did you guys take? They offered me R80k and from my understanding, you have to pay the monthly installment on that amount even if you don't use all of it.

It's basically like they give you a loan for that amount on the card and you repay it monthly with interest and a compulsory life cover.

Their consultants are clueless. You only pay for what you use, same as any other credit card.

 

[Awesum]

I had to sign a credit agreement to this effect. I'm considering reducing the limit to R20k.

 

[Zulfi]

I had to sign a credit agreement to this effect. I'm considering reducing the limit to R20k.

This odd.. sure you not signing up for a loan?

 

[Awesum]

This

 

[f2wohf]

This

That interest rate...

 

[Speedster]

This

That credit agreement certainly doesn't say that you pay irrespective of the amount used. It just says if you owe them money, you can pay it back over a term. If you owe them nothing, you pay nothing (except the monthly service fee).

 

[Awesum]

What about the R4k debit order that I authorised?

 

[Speedster]

That is a maximum, assuming you've maxed out the card

 

[Zulfi]

yeah i agree with speedster.. this is just a normal credit quotation that even i got from FNB... i think they give you worst case scenario.. youll only pay for what you use.. that makes sense

 

[yebocan]

you pay 5% of your outstanding balance per month...max out your card, that's 4k

 

[Awesum]

Okay. Thanks for confirming.

I even spoke to the branch manager and he also insists that I will be debited the full installment, even if I did not use it.

I wonder how they get this information.