Totally Realistic News » Economy

Credit Cards In South Africa

Sat, 10 Apr 2010 14:59:45 +0000

South Africa has only been on the leading edge of the credit card world for a few years now, while on the road to recovery from economic crisis. Their efforts appear to be paying off as 80% of retailers and restaurants in the country now accept both Visa and MasterCard. As a result South Africa credit cards are not available in a variety of options for consumers and are well protected and supported with a high-developed electronic banking system.

There are a few basic types of South Africa credit cards that are offered by the banks in the country and are equally popular with consumers. Affinity cards are basically a kind of charity reward card and are available with both Visa and MasterCard. Basically the banks will take a certain percentage of the amount you spend and make a donation to the charity organization that is linked to the card. These are different from other reward credit cards that offer cash back or points for use on a variety of rewards. Co-branded credit cards are similar to other countries store credit cards and are issued by a specific airline, cell phone or retail store. One unique type of card among the South Africa credit cards is the Garage credit card. This is a card that is used specifically for easy payment of gas, oil, car parts and services, and fees for toll roads. Other countries have similar car related cards but this South Africa card is much more specialized and specific.

The main issuers of credit cards in South Africa are the four biggest banks. First there is ABSA. This bank was established in 1991 and offers some of the most popular credit cards in the country. They also issue South Africa Debit Cards . The First National Bank is a solely South African owned company and offers some of the best and most popular cards on the market. The smallest of the four banks is Nedbank; as a result of their size they only offer three different credit card types. Standard Bank is the longest standing bank in the country, having been around since 1862, it is considered a leader in the credit card market and offer some of the best credit card deals . Visit their website to find out how to apply for a credit card . Of course foreign banks also issue credit cards, but currently on a smaller scale.

Foreclosures For 2009

Thu, 19 Nov 2009 15:30:18 +0000

The Center for Responsible Lending estimates that there we’ll be 2.4 million homes foreclosures in 2009. Does that number shock anyone? apparently it doesn’t seem to affect anyone in Washington. While our government makes health care a priority, Americans are losing their homes in record numbers. This is a byproduct of an unemployment rate in double digits. This is also a byproduct of irresponsible lending and irresponsible borrowing. I recently lost my own home to foreclosure. We had lived in the house for 19 years. I needed help with taxes. The value of the home was $350,000 2 years ago. The last month that we lived in it I tried to sell it for under $100,000 and had no takers. Banks are taking back homes and they are not reselling them. I have to ask why they are not, because there must be a motive for that. There is government foreclosure help available, but frankly it is not available to everyone. I would make a trade right now with anyone that wants to put health care on the back burner so that we can concentrate on jobs. That is not likely to happen as the administration thinks that healthcare reform will solve the woes of everything. Bankruptcy filings are up by similar numbers than those of foreclosures. what is happening is people purchased walking away from debt and responsibility in mass. What that tells me is how a recession is long from over. We may have a positive report here and there, but the fact of the matter is until people go back to work, and have the means to take care of their homes and their families, we have nothing.

China Criticizes US Policy

Mon, 16 Nov 2009 14:47:40 +0000

It would appear that the largest holder of United States debt in the world, China, isn’t too happy with the financial direction of the United States. How can they be? China issued sharp criticism of the US policy just hours before Pres. Barack Obama began his Asian tour.

“Liu Mingkang, chairman of the China Banking Regulatory Commission, said that a weak U.S. dollar and low U.S. interest rates had led to “massive speculation” that was inflating asset bubbles around the world. It has created “unavoidable risks for the recovery of the global economy, especially emerging economies,” Liu said. “

The problem with the criticism is that it is accurate. The United States and the administration in general has has done little to show anyone in the world that they have a clue what to do with a failing economy. Throwing more money at the issue is not going to solve the problem. Stimulus number one already proved that. But, plans are on the table for yet another stimulus, to create more debt that we can sell to China and India.

I have a simple question. What happens when China and India decide they don’t want to buy our debt anymore? Those days can’t be far away. We can give lipservice to the economy getting better. The fact is it is not. We can throw more money at the situation, and that won’t help. It is said that there are some corporations in America that are too big to fail. I disagree with this philosophy. Is the United States to big to fail?