JOHANNESBURG – While the next few weeks should be filled with rest and relaxation, FNB Credit Card suggests that South Africans use their credit cards to make their last minute holiday preparations less stressful.
“Your credit card offers much more than just the convenience of swiping this festive season, it could in fact be a handy companion in your holiday planning, emergencies and even your travel,” says Chris Labuschagne, CEO of Credit Card.
Cut down on spending by putting your rewards to work
Even though it is expected that spending will increase over the festive season, it does not mean that everyone is equally prepared to take more money out of their pockets. Last minute purchases for the holidays are usually a hassle and it can be very expensive. What we tend to forget is that our accrued rewards earned during the year can be used to purchase many items including gifts.
“To date, members have already spent more than R186 million, mainly in eBucks, across our spend channels just for the festive period alone. It is still early days and as we go into December, we anticipate this number to grow to well over R280 million,” says Labuschagne.
Travel Insurance
Sorting out travel insurance can be a nuisance, so check if your credit card offers travel insurance as part of its offering – it is often a free and handy addition that is already embedded in your credit card deal.
Many South Africans go on holiday over the festive season, and for those travelling overseas, travel insurance is especially important. FNB Platinum Credit Cardholders benefit from automatic Comprehensive Global Travel Insurance, so there is no need for you to purchase top-up cover.
“Make sure that you know exactly what you are covered for, consider even taking a printout of the travel insurance document with you so as to avoid additional stress in a moment of panic,” warns Labuschagne.
Tell your bank you will be using your card overseas
“Notify your bank that you will be going aboard so that your credit card isn’t blocked while you are shopping because your bank suspects that there might be irregular transactions occurring on your account,” warns Labuschagne.
Increase your limit for emergencies
Your credit card can also be used as a safety net against risks over the holiday season by increasing your limit just for emergencies. While a limit should never be increased simply to increase your spending beyond what you can afford under normal circumstances, the reality is that holiday emergencies do happen and can range from medical issues that need upfront payment to additional travel costs if your car breaks down or your flight leaves you stranded.
“FNB customers can go online or call the number on the back of their credit card to increase their limit and are encouraged to reduce the credit limit upon return from holiday to avoid the temptation of using the additional funds for non-budgeted items and services,” warns Labuschagne.
Swipe safely
Swiping is the most practical and useful way of using your credit card over the festive season – not only does it prevent the need to carry cash around, but it is also safer and more convenient. You can use your credit card to purchase anything from your daily croissant in France, to your first class ticket back home.
“A recent study conducted by FNB and VISA indicated that more and more travellers perceived a credit card as the safest way to transact when travelling. Chip and PIN technology provides increased security against fraud and transaction messages such as FNB’s inContact enable customers to stay on top of their spending,” says Labuschagne.
Should you find that there has been irregular activity on your credit card or your card has been lost or stolen, notify your bank and cancel your card immediately – FNB customers can do this from the convenience of their banking app.
Travel safely
Familiarise yourself with the benefits embedded on your Petro card. Often there are a number of support mechanisms in place such as AA Emergency Roadside Assistance or driver services like Take me Home in the event that you find yourself in trouble while on the road.
“Don’t over complicate your finances this festive season, instead change your banking behaviour by making the most of your credit card so that it becomes a partner in last minute holiday planning that saves you time and effort,” concludes Labuschagne.
