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Best Credit Cards to Consider in 2018

Credit • by Creditgenie • 15 March 2018

4 Best Credit Cards to Consider in 2018

The beginning of the year is the best time to take control of your financial situation. Credit cards have become an everyday part of our spending habits but are you really getting the most out of your credit card?  To find a credit card suited to your spending habits, Easyliner have rounded up the best credit cards to use in South Africa for 2018. If you are due for a credit evaluation and are not sure what is out there, here are the best credit cards to consider in 2018 and why.  

Rewards  Credit Cards

Rewards cards are incentivised by credit card companies where a portion of the amount spent is paid back to the card holder. These cards are best suited to individuals who pay back their credit card statement every month. The more you swipe, the more points you earn! These points can be used for travel (flights, hotels packages), purchases and petrol. These reward programs can sometimes be referred to as a travel reward card because your points are often used to travel locally or abroad. You can also benefit from additional benefits such as airport lounge access and travel insurance. There are a few affordable no fee reward cards out there, but the premium benefit cards don’t come cheap! They also usually require a higher minimum annual income and often come with a small annual usage fee.

It was not an easy choice but the overall best rewards card in 2018, voted by Easyliner, is the Discovery Credit Card. Offering you up to 20% in cash back with a list of holiday and travel partners. Among many other amazing benefits, if you have a Discovery Credit Card you can benefit from early access to premium live events ticket sales up to 48 hours before anyone else!

Cash back

Cash-back credit cards are very popular in South Africa for their straight forward benefits system. You are refunded a percentage of every Rand you spend. This is usually refunded directly into your bank account or designated credit card. These cards offer a set cash back rate on all transactions and a different percentage for categories such as the petrol, groceries etc.

One of the most popular cash back credit cards in South Africa (and our personal favourite) is the FNB Gold Credit Card. Offering a monthly service fee of R105, you can get up to 15% back in eBucks when you fill up at any fuel station in South Africa and when using Uber domestically. You will also automatically earn up to 1.5% back in eBucks when you use your Gold Credit Card when you shop in-store or online. It also offers dynamic features such as a personalised interest rate, 55 days interest free and auto payment solutions.

Low interest 

The number one golden rule to good credit practice is to pay off your credit card balance in full every month. If you do carry a balance across month to month, you should consider a card with the lowest interest charges. This will reduce the amount of interest you will have to pay back to your financial provider. The typical rewards card has an interest rate of 18 - 20% but the best low interest cards charge a fraction of that.

If you’re looking for lowest the fixed interest rate, go with the Standard Bank Gold Credit Card. It currently has the lowest fixed interest rate on the market at only 10.25% per annum with a low monthly fee of only R50 per month. You also get some incredible benefits and no transaction fees when you swipe to purchase. If you are looking to consolidate your debt, this is definitely the card for you.

 Credit Builder (RCS) Credit Cards

 For those with a poor credit rating or no credit history - RCS  cards are a great way to start your credit rating.  A small credit limit is usually given at first but If you regularly make your monthly payments on time you can then qualify for a higher credit limit or lower interest rate over time. Store credit cards is a great example of this. Our personal best is the The RCS Credit Card which has access to South Africa’s biggest independent shopping network of over 21,000 stores. It also offers affordable monthly instalments, with flexible payment options including a revolving credit facility or 24 or 36-month budget plans (and no monthly fees or initiation fees). You also get access to exclusive offers and promotions and all you require is a minimum monthly income of R1 000.

 You can apply for a RCS Card at selected retailers nationwide or via the online application form.