Using a credit card makes a lot of sense, as long as you have the self discipline to manage it properly.
Category - Credit
Beware the false hope behind debt relief headlines.
In the current economic climate, many South Africans need to borrow money out of desperation just to help them survive. It is here where scam artists and unscrupulous marketers prey on the public,
The pricing cap on credit insurance is good news for new loans, but many existing credit customers are still paying over the odds.
There is a misconception that debt intervention proposals currently being considered could mean that some debts are likely to be written off.
Just because a credit retailer no longer requires a payslip or bank account doesn’t mean they won’t have to do an affordability test.
While regulated lenders do charge less than unregulated loan sharks, it is undeniable that borrowing money in the short term is very expensive and can easily lead to the situation where you are caught in an ever- increasing cycle of debt.
CreditVision, a new product from TransUnion, should make it easier to get financing without a credit record.
On 9 August, the new limits on how much a lender can charge for credit insurance came into effect.
The latest figures from the TransUnion SA Consumer Credit Index suggest that South African consumers are starting to wean themselves off credit and are learning to better manage their debt repayments.