"Credit cards are a scam!" says Bongani
Bongani's cousin wants a credit card and has even been offered one by a financial institution. Bongani's warned him not to ever go down that road.
Listen to the discussion, or read the details under the podcast.
Bongani stands firm in the belief that credit cards are a scam. High-interest rates, the danger of debt, the cycle of debt just never ends once you start.
"Once you're in debt you stay in debt forever. There's a reason you can't afford what you want to buy on credit. What makes you think a credit card is the best decision whilst you're still so broke?" says Bongani.
Read: NCR warns against 'fake credit providers'
One could look at the 'benefits' of having a credit card which include: discounts on flights, loyalty points, access to airport lounges, online deals and travel insurance. One could argue that these 'benefits' aren't necessities.
What are your thoughts on credit cards - Are you for or against them and why?
