The ABCs of a Revolving Credit Facility: What you need to know

Getting credit doesn't have to be complicated or come with fixed terms. A Revolving Credit Facility lets you pay as you use, offers affordable repayments, and gives you access to funds when you need it.

Revolving facility ABCs: Easy access, borrow better, lower costs

Fast and on-demand access to credit is as easy as ABC with Discovery Bank's Revolving Credit Facility:

Easy ACCESS to funds

Discovery Bank's Revolving Credit Facility lets you get immediate access to funds when you need them and on your terms. To unlock your Revolving Credit Facility access, you'll need to already have a qualifying product:

• Discovery Bank Suit
• Discovery Bank Credit Card account
• Discovery Bank Transaction account
• Ðiscovery Account

There's no bank card linked to Discovery Bank's Revolving Credit Facility (and it's separate from Discovery Bank's Single Credit Facility), but once approved, you can instantly transfer funds from your revolving facility to your linked Discovery Bank credit card or transaction account and use it to plug financial gaps like pay school fees or purchase what you've been putting off, like revamping the kitchen or installing solar. Withdraw funds when you need them and get instant access to any repaid capital. It's flexibility and accessibility, on repeat.

BORROW better with Dynamic Interest Rates

You pay to borrow money (that's called interest). The interest rate you qualify for usually depends on several factors, such as your credit score, but with Discovery Bank's Dynamic Interest Rates you control what you pay - not the bank.

With healthy banking behaviour (like having a budget and sticking to it, paying extra towards your debt when you can, not missing repayments, having enough savings, saving towards retirement, and having short and long-term insurance) you can improve your Vitality Money status - and lower your borrowing rate by up to 7%.

Lower COSTS and no hidden fees

When you use your Discovery Bank Revolving Credit Facility for the first time, you'll be charged a once-off initiation fee of R350. Then you'll pay a monthly fee of R69 only in months where the facility is used.

You'll make low monthly repayments from as little as 2.5% on the outstanding balance, and there are no hidden costs or charges for when you don't use it.

Get your Discovery Bank Revolving Credit Facility in a few taps

You can apply for revolving credit in the Discovery Bank app - it only takes five minutes:

1. Log in to your banking app.
2. Tap More.
3. Tap Apply today on the Revolving Credit Facility tile and follow the steps to submit your application.

Discover the future of financial freedom with Discovery Bank's Revolving Credit Facility.

Access, spend and repay - your way.

The Future of Banking. Now.

This article is meant only as information and should not be taken as financial advice. For tailored advice, please contact your financial adviser.