#Rethinkcredit this Black Friday

If you spot a deal on an item you really need, and that will help you live better in the future, credit can be a useful tool.


When buying things on credit, make sure that the value of the item will outlive the repayment plan. You should also factor in the cost of interest as this will make the item more expensive.  

Also consider the following when taking credit:

  • Avoid store credit as interest rates are usually very high. Our Capitec credit card offers interest rates from prime  
  • Beware of hidden costs. Don’t just look at the interest rate. Compare the cost of credit by looking at initiation fees, monthly fees and any insurance you’re required to take 
  • Pay off debt first. Doing this will help you to easily afford the monthly instalments on your new credit, and perhaps enable you to pay more than the minimum amount every month


Getting credit for the right reasons

Getting credit can benefit you in the long term, as long as you use it for the right reasons. Mannee Govender, a resident of Kraaifontein near Cape Town, is a good example of doing just that.

Read the full story here.


How to pay for your tertiary studies

Few South African families can afford university fees without financial assistance. Find out how Olana Bodlo was able to study further thanks to her father using credit for the right reasons.

Read the full story here.


How Hope realised her dream

Hope was tired of taking public transport. It was time for her to get a car! She applied for a loan, was approved instantly and received a discount on the vehicle as she was paying cash. Her dreams are now a reality.

Read the full story here.

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