TymeBank credit card launched

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TymeBank launches credit card

TymeBank has launched its first credit card. The bank says it is responding to customer demand and that the launch comes as it expands its offering with products that cater to different financial needs and life stages.

“The launch of the TymeBank Credit Card is a significant step in our growth phase and is in line with our intent to diversify our customer profile by attracting more customers from the middle and upper-middle-income groups,” said TymeBank CEO Tauriq Keraan.
 
supersunbird said:
Is RCS spaza or too expensive to be spaza?
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The OG Spaza, infact more like loan shark , caters to blebs last i seen. Not to mention the financial ruin they have caused for many due to their incompetency.

Edit: But i guess if you do business with RCS you are also incompetent so its a perfect marriage.
 
I hate it when banks make out as if a credit card is some sort of convenient solution that solves all your problems. There is nothing you can do with a credit card that you can't do with a debit card these days, except land yourself in a whole lot of financial trouble.
 
Called me the other day but no info on fees or rates, just the typical "oh if you pay the first 55 days its fine..."
 
They called me on Monday. I was told that the monthly fee is R60. I told them "no thanks". Absa and Capitec have cheaper credit cards, not sure why people would choose Tyme.
 
deweyzeph said:
I hate it when banks make out as if a credit card is some sort of convenient solution that solves all your problems. There is nothing you can do with a credit card that you can't do with a debit card these days, except land yourself in a whole lot of financial trouble.
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You are missing out on the 55 days interest free though
 
cr@zydude said:
They called me on Monday. I was told that the monthly fee is R60. I told them "no thanks". Absa and Capitec have cheaper credit cards, not sure why people would choose Tyme.
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Most waive or include the monthly fee depending on your limits. More interesting would be the interest rate.
 
Kosmik said:
Most waive or include the monthly fee depending on your limits. More interesting would be the interest rate.
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Interest rate doesn't matter to me. I haven't ever paid interest on my credit card and don't plan to.

Maybe I should have asked about the fee waiver, though I doubt I qualify for a high enough limit for that.
 
deweyzeph said:
I hate it when banks make out as if a credit card is some sort of convenient solution that solves all your problems. There is nothing you can do with a credit card that you can't do with a debit card these days, except land yourself in a whole lot of financial trouble.
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Yeah no you still get better chargeback / lost card protection, travel insurance and you don't have to muck about with a rainy day fund.
 
mervman said:
Cost per month?
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When I was invited to the "beta launch" of their credit card I enquired about costing as it was also conveniently not mentioned anywhere, and was told:

NOTE: This was in August 2021 so it could have changed

Account fees:
  • Initiation fee: R160.00
  • Monthly service fee: R60.00
  • Over limit fee: R200.00
  • Copy of statement fee: R5.50
  • Card replacement fee: R140.00
  • Customer protection insurance: R4.50 per R1 000 outstanding
Transaction fees:
  • No transaction fees for purchases in-store or online.
  • ATM Local balance enquiry: R6.00 per enquiry.
  • ATM Local withdrawal fee: R8.00 per R1 000 withdrawn.
  • Cash withdrawal at POS/Till: R2.00
 
MikeCTZA said:
When I was invited to the "beta launch" of their credit card I enquired about costing as it was also conveniently not mentioned anywhere, and was told:

NOTE: This was in August 2021 so it could have changed

Account fees:
  • Initiation fee: R160.00
  • Monthly service fee: R60.00
  • Over limit fee: R200.00
  • Copy of statement fee: R5.50
  • Card replacement fee: R140.00
  • Customer protection insurance: R4.50 per R1 000 outstanding
Transaction fees:
  • No transaction fees for purchases in-store or online.
  • ATM Local balance enquiry: R6.00 per enquiry.
  • ATM Local withdrawal fee: R8.00 per R1 000 withdrawn.
  • Cash withdrawal at POS/Till: R2.00
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Yeah at those prices I'll pass.
This was there opportunity to get all the old virgin customers who no longer have a credit card. At that price I will rather go fnb and jump on the ebucks train.
 
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