True cost of buying on credit

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Considering varying interest rates and repayment terms, it is clear that there is no real Black Friday – or any other day – saving when using credit for purchases. Photo: Supplied/Getty Images
Considering varying interest rates and repayment terms, it is clear that there is no real Black Friday – or any other day – saving when using credit for purchases. Photo: Supplied/Getty Images

BUSINESS

“Yet many used either their credit cards or even accessed a personal loan to pay for these purchases. By doing this, they not only negated the ‘saving’ on these items, but actually ended up paying more,” he says.

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