C
Credit
Credit Card
A credit card is you saying to the bank 'lend me money whenever I swipe, and I'll pay you back later.' You get a limit (say R20,000), you spend up to that, and you can pay the whole thing back or just chips off every month. Interest is around 20% a year, which is hectic if you're not careful.
Usage Examples
"Zanele uses her FNB card for groceries at Checkers and pays it all off by month-end. Zero interest, clean. That's how you play it."
"Bongani only pays the minimum on his R15,000 card balance at 21% interest. At this rate, he'll be paying for five years and the thing will cost him nearly double. Befok."
"Nomsa kept her card under 30% utilization (spending R6,000 of her R20,000 limit) and her credit score jumped because lenders think she's responsible with revolving credit."