Results 1 to 2 of 2

Thread: Overdraft vs Credit cards

  1. #1
    Full Member
    Join Date
    Aug 2014
    Location
    Cape Town
    Posts
    81
    Thanks
    0
    Thanked 3 Times in 3 Posts

    Overdraft vs Credit cards

    I am not exactly drowning in debt, but hace two credit cards RCS and FNB. I make my payments and FNB wants to increase my overdraft. Is it worth taking the overdraft and killing my credit cards? Obviously have a lower interest rate than the CC's...or should I just grit my teeth and not buy anything till it's paid off...

  2. #2
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Location
    Durban, South Africa
    Posts
    21,195
    Thanks
    3,076
    Thanked 2,476 Times in 2,080 Posts
    Blog Entries
    12
    Funny story. I was checking over the interest rates on all the credit products I've got a couple of months ago - I've got a lower interest rate charged on one of my credit cards than on the business overdrafts.
    The trouble with opportunity is it normally comes dressed up as work.

    Alcocks Electrical Services | Alcocks Pest Control & Entomological Services

Similar Threads

  1. Credit Card and Overdraft
    By Alice Rain in forum Business Finance Forum
    Replies: 20
    Last Post: 02-Mar-15, 09:09 AM
  2. Credit card VS Overdraft
    By regim in forum General Business Forum
    Replies: 2
    Last Post: 13-Apr-12, 09:19 AM
  3. Reduction in minimum payment on credit cards
    By Dave A in forum Business Finance Forum
    Replies: 7
    Last Post: 22-Nov-11, 03:25 PM
  4. Credit cards and smartcard
    By duncan drennan in forum General Business Forum
    Replies: 1
    Last Post: 16-Dec-06, 07:15 AM

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •