Ancestry24 Careers24 Entertainment Fin24 Food24 Health24 Kalahari.net Mobile News24 Property24 Weather24 Wheels24 Women24 Sport24
Answerit

Resolved Question

What is the interest rate on an FNB credit card?

I want to know what the credit (positive balance) interest rate is on a FNB credit card. Also, what is the debit (negative balance) rate ? I think it is 23.00% pa. What does this mean if you for example have a R1000 'extra' paid into your account. How much interest will you receive? THUS, will it be better to put your R1000 in your credit card account or put it in your savings account. 70 mths ago

Answers -

Not sure about the rate. You will earn more interest if you leave it in your credit card than in savings account

70 mths ago

Check these link below ,i am new to FNB since april

Source: https://www.fnb.co.za/downloads/nca/card08v1.pdf

70 mths ago

A credit card is a not the best place to save money as the interest earned is not wonderful. Rates vary from bank to bank (but 23% is a good ball park figure), and from card to card within banks (like between Silver and Gold) and then further between clients (like AAA rated clients and B rated). So, to answer, at about 4% per annum, your R1000 will earn your the royal sum of R40.00. Whoopdeedoo. FNB, or any other bank, will have accounts that pay more than 4% on a positive balance so you need to shop around and ask.

70 mths ago

The credit interest rate on a credit card is one of the best "mainstream" account interest rates you'll get - i.e you'll get a little more interest than on a normal savings account or current account. The best interest though, if you want to save is a term-deposit type account, like FNB's 32 day Deposit account. You get excellent interest, and the more you have saved, the better your interest rate. And you cannot just use the money, you will have to give notice of 32 days before the money is available for use, which makes it easier to say no to just buying impulsively. Be very careful of credit cards, it is really too easy to shop and go into debit, and before you know it, it ties you down. It took me almost 5 years to get rid of my credit card debt. Never again!

70 mths ago

Ah, D*MN! I was hoping there'd be more specific answers here, because I also want to know! :-( Thumbsie?

70 mths ago

FNB now offers their customers individualised rates.

Source: https://www.fnb.co.za/personal/borrow/creditcards/index.html

70 mths ago

Now we all know.

70 mths ago

You need to check this out with your FNB - with all these interest rate hikes it must have changed! The interest you receive are normally less that the loan rate!

70 mths ago

Answer more Questions in Loans & Credit

Browse more Questions in Loans & Credit

Vote for more Answers in Loans & Credit