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Spreadsheet Ranger

How to get a Game credit card

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So after going through this thread on how to get a free credit report, I decided to get myself some credit.


I went to Game the staff was friendly and told me all I will need is 3 months bank statements, proof of residence and my ID.


I filled in the form (You can fill in the same form online here, but keep in mind online it defaults to debit order.) I then received an SMS 48 minutes later saying I was approved and can come pick up my game card after I signed and agreed to the pre-agreement statement and quotation.


Here are the details for those interested:


I qualified for R7000 credit on my game credit card, which I think is quite good for someone with zero debt and no credit rating at all, to get a credit history is why I went and applied for this card in the first place.


If I were to spend the complete R7000 in store then my monthly installment would be R733.96 of which R55 is the monthly service fee for the card. That amount is payable over 12 months and would amount to R8907.48 which is an annual interest rate of 20.75% which I think is ridiculous, probably the easiest money these companies can make considering none of my JSE shares did anyway near that the last 12 months.


Therefore my Credit Cost Multiple (This refers to the total cost of credit divided by the original loan amount (advanced principal debt)) is R8907.48 / R7000 which is a Credit cost multiple of 1.27.


This card can also be used for purchases at DionWired, Makro and Builders Warehouse.


Disclaimer: Before committing to a new credit agreement, you must know and understand fully what you are

signing yourself up for. Before you put pen to paper, you need to understand and know how to read a

pre-agreement statement and quotation.

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