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!
69 mths ago