Today our guest is Founder of Debt Emancipation Movement Nolubabalo Salem Nyati.

• According to TymeBank’s new online survey of 1000 South African consumers about 6,9 million South Africans own a credit card.
• The survey shows that what we do with our cards, and the reasons why, varies considerably depending on our age, income, and life stage.
• Age, rather than income, has the largest influence on purchasing and repayment behaviour.
• According to the survey, 63% respondents use credit cards for big purchases like appliances, furniture, and renovations, while 46% pay for special occasions such as weddings, birthdays and funerals.
• Card ownership amongst survey respondents in the 18-24 age group is 46%, with the popularity of online shopping among the younger generation a likely contributing factor.
• The research also showed that when choosing a credit card, low fees are the most important feature for 77% of the sample, while 61% look for a good loyalty programme