Avoid using credit for Black Friday deals, urges NCR
The National Credit Regulator has appealed to cash-strapped consumers not to get caught up in the Black Friday hype.
Its given advice to shoppers as stores and online platforms roll out limited promotions and discounts ahead of what's known to be the year's biggest shopping day.
Black Friday in the US is traditionally known to kick off the Christmas shopping season.
Many businesses here, though, say their specials will run over a few days to avoid the in-house chaos next Friday.
The NCR's Zonke Majola says while it makes sense to take advantage of some items marked down, people need to avoid shopping regrets.
She says you need to make a budget, stick to it and leave the credit card at home.
"It is wise to plan and save for any spending for any sales that are coming up. Any credit purchases don't really amount to saving as you have to pay interest and other fees.
"Remember any unplanned and impulsive buying, especially on credit, may ultimately damage your credit bureau record and lower your credit status.
"So it is quite important that consumers do their research, compare prices, create a budget and stick to it and check if they can really afford that type of credit."
