Kulula credit card terms summaryKulula credit card terms summaryCertain transactions always attract interest (budget facility transactions, cash withdrawals, electronic fund transfers resulting in a debit balance and the purchase of travellers cheques). For other transactions, you are not charged interest during any interest-free period (i.e. if you pay the full outstanding amount reflected on your statement before the due date). If you don't pay the full outstanding amount by the due date you lose the interest-free period, and are charged interest on each transaction from the date the transaction took place.
If you have a credit balance in your account you earn interest on it (although not usually as good as can be earned on some money market accounts).
On request, Firstrand Bank may make a budget facility available to you, allowing you to to buy items and pay for them over a longer period than normal (with more interest charged of course). It's worthwhile assessing whether you can borrow at a lower interest rate from other sources. If you miss payments then the total amount outstanding may becomes payable. Firstrand say that you can make additional payments without penalty.
You could give your wife, your girlfriend (or both) a "tenant card", which is linked to your credit card account (i.e. they spend on your account but it's your joint-responsibility to pay for it). If you want to end the right to use a tenant card you should destroy the card and inform Firstrand Bank.
Make sure that you cut through the card's number and magnetic strip.
The agreement can be ended at any time by writing to Firstrand Bank and informing them of this.
If you are married in community of property, then your spouse must consent to the conclusion of the agreement.
Apart from the credit-related charges there is:
The current fees charged are available on www.kulula.com and on the quotation, and are updated annually.
The Kulula moolah program is owned and run by Kulula (technically speaking, by Comair). No Kulula Moolah is earned from budget facility transactions, cash withdrawals, electronic fund transfers, and various fees or taxes paid from the card. Moolah must be spent within 6 months of the date that it first appears on your account (on Kulula air tickets or travel offers, for yourself or anybody else). Kulula may amend the terms and conditions by publishing new ones on its website (which means anything can change).
You'll have to read the terms if you want to know about this one - too much pt to summarise.
This is a summary and there may be mistakes - if you want the full accurate message go to the Kulula credit card site.
