What you forgot to mention is that the 55 day grace period only applies to swipes and online purchases." If you use your credit card for EFT purchases, withdrawals or transfers: you get charged interest from day 1. That's usually in the terms and conditions that nobody reads.
@trying2adult4 жыл бұрын
I didn’t know about EFT purchases 😯. Glad those aren’t common. On the day you sign those papers they flood you with so much information...and casually leave the important bits out 😂
@damianrudling76632 жыл бұрын
EFTs should be fine, however, there are immediate interest accruing transactions such as pre paid transactions like electricity. Fuel, ATM withdrawals will also have immediate interest. Being a banker sometimes comes in handy 🤣
@quant_in_sa Жыл бұрын
My banker pointed this out to me re: my Fusion account.
@phethomakhadi5415 Жыл бұрын
Thanks will read mine
@Adiscretefirm Жыл бұрын
If you have a balance from your last statement you don't get a grace period, only if you paid the balance in full does the interest free period apply.
@sbonzama70133 жыл бұрын
There is no such thing as a "trap". It's all about discipline! I have two from different banks, one with a limit of R65k & another for R110k. I know my max affordable disposable spending per month. I use that or less and always settle it in full at the end of the month. I normally use 1. The other one I hardly use, it is mainly for back up .
@mzansimoneymatters84712 жыл бұрын
Thats true Nzama, there is no such thing as a Trap, its how you use it!
@carlnxumalo38642 жыл бұрын
😂like only 2 In ten people use it responsibly. Banks know this. Self discipline is not common
@thato5962 жыл бұрын
@@carlnxumalo3864 you right. Most of the people are not responsible
@dudettethechicklet2828 Жыл бұрын
What do you use it for? R65k?
@mzansigotdrip1480 Жыл бұрын
This the way to go with I'm a 17 year old with a credit card I use it to buy small things I know I can pay of month end e.g airtime and food
@shawnmakiri44352 жыл бұрын
I love the honesty. He explains why he messed up and what he learned. Credit cards do have a trap IF YOU ARE NOT DISCIPLINED!!!!
@ingandyoki48933 жыл бұрын
I started living above my means soon as I got mine. Big mistake! My entertainment budget suddenly became fluid and constantly increasing because I knew I’d get paid within the 55 days and pay it back, something we all do as responsible “adults” right?! A big lol 😂. Got me in so much hot water such that I stopped using it and just pay back a monthly fixed amount. Just trying to get the balance to the positives again so that I can close the damn thing
@cleanhoodboy63322 жыл бұрын
I was so tempted to take the credit card but I think I will take a step back. I am undisciplined when it comes to spending over small things. Thanks a lot man.
@Simplelifeofalli4 жыл бұрын
God I love this man! Always comes with relatable contents. Thank you!
@trying2adult4 жыл бұрын
Thank you for the love☺️. Much appreciated!
@alumufamadi23114 жыл бұрын
I watched the lifestyle creep vid earlier and I am feeling super attacked 🤣. These reward programs promote the daily use of a credit card and this is where it starts going south
@trying2adult4 жыл бұрын
Right! You’ll find yourself signing up for things just to get them points 😔
@Al_Mutamir4 жыл бұрын
Food is a huge budget leach! :(
@trying2adult4 жыл бұрын
Duuude food is where all my efforts go to waste. Half way through the month and you’ve gone through all of the money you budgeted for food 😂
@lunadelta699712 күн бұрын
@@trying2adult 😅😅it's tough
@GolelaSihle3 жыл бұрын
FNB Temporary Loan!!! Biggest trap ever😂 took a loan on 30th knowing i get my allowance on the 1st. FNB didn't deduct anything for a while, spent that money,by that time I was already Broke!!!
@lesegoseoka38483 жыл бұрын
Yeah that thing is the pits. Also sends your credit score down the toilet, making it harder to get obtain credit products that could be considered "good debt" like asset finance.
@mmatelemametja25322 ай бұрын
Thank you for this video sir .. your content is great, relatable and very educational sir . We appreciate you
@theplug_truecrime3 жыл бұрын
I love it here...your content is binge worthy 👌🏽
@vanta_nele2 жыл бұрын
Thank you for this! We need more financial literacy lessons. As a student, I really appreciate this insight. It's very tempting to get credit, especially with how easy it to get and with the societal pressures to live a certain lifestyle.
@misterkay16032 жыл бұрын
Thank you. This is the best video so far, about the credit cards 🙏
@avb55592 жыл бұрын
Thank you so much for this. I truly appreciate the insight on credit cards, we need to make mistakes to learn.
@10khours2 жыл бұрын
Can relate to this so much. That's what characterised my early to mid 20s - this trap. Just applied for a credit card again after many years - this video is a great reminder to stay sober when it comes to spending decisions
@thato5962 жыл бұрын
Ey monna. I agree with you. I also do not like borrowing money and debts. Banks know that most people are not responsible. Best option is to use your own money than living by borrowing.
@obimakapane4 жыл бұрын
But that new camera you got is FIREEEEEEE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
@trying2adult4 жыл бұрын
Right! That's all the justification I need!
@nolithagreen38773 жыл бұрын
Lol yoh that part of 20 seconds did it for me 😂😂 but im thinking of going for the credit card. Thanks for the advice, much appreciated and oh plus I really like your voice and your sense of humour 😍😍
@nkululekomafuyeka41043 жыл бұрын
QUALITY BABA
@nothandomgwambe74103 жыл бұрын
I love your content man ❤️🔥
@arthurjohnston74342 жыл бұрын
This video was amazing! Thank you
@fennygypsy2 жыл бұрын
I love love this information.. Thank you 🥳 🥳
@enoch.c4 жыл бұрын
What's the best bank to bank with as a student in SA? Great vid btw 👌🏾
@trying2adult4 жыл бұрын
I’m actually not sure. I used standard bank and it had some decent benefits. This is definitely something worth researching on.
@tosinwaidi22033 жыл бұрын
Good question.... Am an international student am been asking my self what is the best bank as well.
@randymaton21 күн бұрын
This video literally stopped me from getting a credit card 😂
@lindagibson744 Жыл бұрын
Sound advice!!!
@ritamapeshoane33163 жыл бұрын
I love this video!
@komboreromtambirwa29244 жыл бұрын
nonetheless, what are the advantages of credit cards? As weird as this may sound, i found myself in a situation where I had no option but to get one so are there any advantages i should be aware of? Or thats some content you might shoot sometime later?
@trying2adult4 жыл бұрын
Yup credit cards do have some benefits. I’m actually working on a video on the benefits of credit cards. Stay tuned!
@Lionel2120014 жыл бұрын
You can use the 50 day grace period for online purchases. Some products offer no cost emis on credit cards. So, as long as you are paying your emis on time, you are good to go.
@lesegoseoka38483 жыл бұрын
Use your credit card for online purchases. If the vendor systems are not secured and a fraudulent purchase occurs on your credit card, then it's not your money the fraudsters are spending but the banks.
@ntathuzungu4 жыл бұрын
Not related...How come there's gaps on the time bar (the line showing how far the video is)?
@trying2adult4 жыл бұрын
It’s a new KZbin feature that sort of tells you chapters of the video.
@notaloneinrsa13454 жыл бұрын
Haibo Tino. :O
@trying2adult4 жыл бұрын
Eish bruh don’t judge😅
@nkululekomafuyeka41043 жыл бұрын
Sreaming at 1080p60HD
@vestangomberume73164 жыл бұрын
Yohhhh,A WHOLE TRAP!
@trying2adult4 жыл бұрын
Too many of us fall into that trap😅🤦🏾♂️
@rozabizaare393 жыл бұрын
I ended up spending the credit card on the kids and that killed
@onlyeverydaysa50294 жыл бұрын
Hectic
@lesegoyv3 жыл бұрын
26 seconds for 26k Am here to learn
@obimakapane4 жыл бұрын
LOL hahahahahah 55 days vs 5 months mateeeeeeeeeeeeee
@trying2adult4 жыл бұрын
🤣 dude patience is so annoying.
@Clinton_Ganyo4 жыл бұрын
Pakaipa shuwa
@trying2adult4 жыл бұрын
Sha ma1
@sciencethegospelaccordingt60313 жыл бұрын
No shit. Say your interest is 100 a month, that’s 1200 a year you’re giving the bank for borrowing money on credit.
@newphone15234 жыл бұрын
Mdara roorai. You hate cooking. It might help if she likes home cooked meals kkk. Free advice.
@trying2adult4 жыл бұрын
Haha mdara pakuroora chimbomirai
@theelectricprince82319 ай бұрын
Bruh, I am trying to pay my credit card but these mfers are making hard to find the place to pay
@lunadelta699712 күн бұрын
My advice, based on what worked for me, is to open a second credit card with a different bank. For example, if my main bank is FNB, I would open a credit card with Standard Bank. I would then set up a debit order with Standard Bank to automatically deduct the payment from my FNB account, where my salary is deposited. I use the Standard Bank credit card to pay off my FNB credit card. Why do it this way? It prevents me from seeing the money in my account as 'available funds,' which makes it easier to stay disciplined and pay off the debt without feeling tempted to spend the money.
@TravelChannelOne3 жыл бұрын
Essentially you suck at cashflow management but you rather blame credit cards for this problem?There is a lack of financial literacy all over this. These suckers are not meant for disposable expenses but investing.use the banks credit to make money.
@simphiwebusakwe34623 жыл бұрын
Relax, pass the video as it's not made for you, Instead of calling us suckers.
@lebom24563 жыл бұрын
@@simphiwebusakwe3462 that's exactly what I thought 😂.. He needs to relax shame 🤞🏽
@zanokuhlezeal82683 жыл бұрын
Yhoooo😂😂😂😂 I was also like chill bruhh.. you could have said "rather use your credit card to make money" now that you called us suckers you've invalidated your entire point for no reason at all 🤣🤣🤣🤣
@selenezygene902411 ай бұрын
He's not calling yall suckers he's calling the credit cards suckers🙈 eish comprehension neh
@FIFAProPlaysTV Жыл бұрын
Trap trap lol
@danes333211 ай бұрын
Bad advice: Don't listen to this guy. Buying a camera on a credit card was the correct way to use the credit card....
@trying2adult11 ай бұрын
What exactly is the bad advice? My point is that credit cards can easily make you spend more money than you earn and that’s the trap I was highlighting. I still use my credit card for all my purchases, I’m just more conscious not to over-spend by doing things like purchasing a camera I can’t afford just because I have enough money on my credit. If you think that’s bad advice then we’ll just have to agree to disagree and you can continue using your credit the way you want.