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Wouldn't petrol need to return to R8 a litre to equate to a 50% return (@R4 a litre in eBucks)? I thought it was only dropping by 1 Rand.Coming petrol price drop will take effective earn rate close to 50%, similar to Discovery
Wouldn't petrol need to return to R8 a litre to equate to a 50% return (@R4 a litre in eBucks)? I thought it was only dropping by 1 Rand.
Discovery has an edge still (besides the earnings rate), in the sense that: 1) It's a cash payout into your bank account or 2) if you opt to have it go toward an excess savings account, it gets doubled (so 100% back on fuel spend). In the latter case, the excess funder account account now also allows purchases of items like tyres at Tiger wheel and Tyre, so the money isn't necessarily locked up until you have a claim.
3) The insurance savings are separate to the discovery card cashback you earn at BP or Shell (with miles multiplier can be up to 6%)
The cap on Discovery is much lower however (~R1800) a month on fuel, so folks with both can start there and switch to Engen/eBucks if they go over that amount.
Call the home loan department they will take you through the process. Absa had a promotion last year played the banks off against each other fnb reduced by 0.5 percent at the time just call though.