When that happens, individual consumers are less likely to fall into "traps for the unwary" and are more able to choose products that offer the best combination of features and pricing to meet their personal financial needs. Better dissemination of information about credit card terms and pricing also enhances competition among credit card issuers, which, in turn, helps generate products that consumers want.
In the context of South Africa’s own historical record and measured against a current rate of inflation of about 6½ per cent, nominal interest rates are extremely high.