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Important changes to your card account
We're giving you more control over your card by combining the revolving and budget credit limits so you can decide how you want to use your card.
One card, one limit
Our cards have two separate limits: a straight (revolving) and a budget credit limit. On 23 January 2005, they will be combined to create one limit called a "single account credit limit". This means that all credit card and private label cardholders will have the freedom to choose to spend in any combination of straight and budget purchases up to their total limit.
Example
Currently if you have a straight limit of R4 000 and a budget limit of R3 000, you can spend up to
R4 000 on straight purchases and are limited to R3 000 on budget purchases.
On 23 January 2005, these two limits will be combined. You will have a single account credit limit of R7 000 and will be able to spend
- Up to R7 000 on straight purchases or
- Up to R7 000 on budget purchases or
- Up to R7 000 on any combination of straight and budget purchases.
The amount you can spend depends on the available credit on your account.
For example, if you spend R2 000 on straight purchases and R3 000 on budget purchases, you will still have R2 000 available, which you can spend on straight or budget purchases or both.
You are in control
In other words, you will have full control of how you use the credit available on your card:
- You decide how to use your credit limit
- You choose how much to spend on budget purchases
- You choose how much to spend on straight credit purchases
- You decide how your account credit limit should be divided.
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