If you're paying the minimum instalment on your credit card every month - which 56% of users do, according to the latest Old Mutual Savings & Investment Monitor - take note of the interest rate your bank is charging you, as well as all the fees levied.

The most you can be charged in interest on a credit card is currently 20.50% a year, and the lowest is prime, which is 10%...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.