Either by accident or design… she was only debited the minimum payment… How many other people might this have happened to?— Wendy Knowler, consumer journalist
FNB… calls it an isolated discrepancy… the customer has been refunded…— Wendy Knowler, consumer journalist
Smart consumers pay off their credit cards in full every month to avoid interest.
She told the story of an FNB client who instructed the bank to pay her credit card off every month.
When she applied for a credit limit increase the bank started – without her instruction – to only deduct the minimum payment, leaving her with a nasty surprise of an interest bill.
For more detail, listen to the interview in the audio below (and scroll down for more quotes from it).
It shows how quickly interest accrues…— Wendy Knowler, consumer journalist
If you increase your credit limit… instruct the bank that you don’t want to revert to paying the minimum balance…— Wendy Knowler, consumer journalist
Even one day late or one rand short, you’ll pay full interest on the amount owing.— Wendy Knowler, consumer journalist
Interest rates are so much lower on a credit card than on a store card.— Wendy Knowler, consumer journalist
Enjoy The Money Show, but miss it sometimes?
Get the best bits emailed to you daily, right after it ends:
Recommendedby NEWSROOM AI
The “go-slow” escalated on Wednesday. Arabile Gumede interviews Andile Dlamini, a spokesperson at Volkswagen South Africa.
There’s been a sharp recovery in foreign direct investments into South Africa. Arabile Gumede interviews EY’s Sandile Hlophe.
James Small suffered a heart attack and died at a Johannesburg hospital on Wednesday.
Arabile Gumede asks Nesan Nair (stockbroker and portfolio manager at Sasfin Securities) for his stock picks of the week.
About 20% of every rand spent in South Africa goes to informal stores, mostly foreign-run. GG Alcock on his book “KasiNomics".
News24 editor-in-chief Adriaan Basson says the president's campaigners should never have asked Bosasa for a donation.
Spoor & Fisher consultant professor Owen Dean explains the outcome of the copyright infringement case against Disney.
Residents were out on the streets to watch the troops arriving in Manenberg and Hanover Park on Thursday afternoon.
Washington Post technology columnist Geoffrey A. Fowler did a forensic analysis of the Russia-based app. Check it out.
South Africans are increasingly buying cars they can’t afford using balloon payments, says consumer journalist Wendy Knowler.
[From the archives] Jesse Clegg talks about his famous father and attitude to money (hopes and fears, successes and failures...).
A probe found "suspicious transactions" worth R1.2bn, bribery and theft. Bruce Whitfield interviews EOH CEO Stephen Van Coller.
After South African star Mbuzeni Mkhize performed a remix of Rihanna's track 'Diamonds' she contacted him to collaborate with her.