Low Credit Card Rates

Are you looking for the lowest credit card rates in South Africa? At the moment money is pretty tight in most households. So when you are looking for information on credit cards, it is important you know what to look for to get the best rate possible for your financial situation.

Credit card companies will offer a variety of different bells and whistles attached to their offers. You need to really do your research correctly and make sure you know what you are getting yourself into before signing up to anything. Sometimes the lowest credit card rates are not always the best.

Why is this? Well, some companies might offer you a very low rate, some even interest free, but the monthly or yearly fees might be extremely high. Not only are their differences in rates, but also reward programs. Rewards can be a great added bonus to a favourable interest rate offered to you by your credit card company.

For example, Nedbank has a great rewards program where you earn Voyager Miles through SAA and the airlines that they are associated with. So the more you spend on your credit card the more air miles you earn. If you are someone that travels a lot, this might be a fantastic option for you to explore, even though they might not necessarily have the lowest credit card rate.

Kulula also has a very good rewards program. You can earn “Kulula Moola” when you purchase on your credit card. You can then use these points, or the “moola”, and trade them in for rewards when you have accumulated enough.

Don’t be fooled by the colour of the credit cards! Seriously, this silver, gold, platinum etc. are just ways of herding people in class brackets. In many case there are not many differences between these packages, except for the annual fees.

A credit card companies worth checking out are ABSA, First National Bank, Standard Bank, Nedbank and Virgin. Spend some time doing thorough research and compare these credit card companies so that you can find the lowest credit card rate within your or your family’s budget.