Be careful with revolving credit
Oct 15, 2021
3 minutes
BY LETITIA WATSON
REVOLVING credit gives you a loan amount you can spend when and how you want. Many of us are familiar with it in the form of credit cards and overdrafts, but access facilities are becoming an increasingly popular form of revolving credit. Here’s more on how an access facility works, what you should be wary of and how to use it effectively.
HOW IT WORKS
An access facility is credit you can access and repay repeatedly as you need it. For example, if you have an access facility of R200 000 and you
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