Users of independent online financial comparison Web site ThinkMoney have rated the Virgin Money credit card the most popular out of the major credit cards available in South Africa. Out of the 6 960 reviews left on the Web site, the highest number of reviews was for this credit card (618 reviews).

The ThinkMoney Web site allows consumers the opportunity to review a variety of financial products, based on their experiences out of a maximum rating of five. Credit cards were rated in regards to service, integrity, Internet banking, retail discounts, rewards programmes, telephone banking and value for money.

The Virgin Money credit card was rated very highly by users — out of the 618 reviews, it was given an overall star rating of 4.1 out of five, with 81% of reviewers saying they would recommend it to other people. Unsurprisingly, it is also one of the cheapest credit cards on the market, with a typical monthly cost of R55. 61*. Plus, it allows users access to the Virgin Money VIP Programme, which provides discounts on a variety of lifestyle products.

The top rated credit card on the Web site is actually the Investec Private Bank card, with an incredible 4.4 stars out of five – although this is not a card available to the majority of South Africans (and as such does not feature many reviews by ThinkMoney users).

Other hugely popular credit cards are the FNB Gold, Silver and Platinum cards, which have 456, 544 and 185 reviews respectively, and all offer the very popular eBucks rewards programme to their members. The Platinum card also offers users access to the Slow Lounge at airports, another added perk.

A recent poll run by the Web site supports the above findings, with 44% of subscribers stating that being charged low fees on their credit card was “what they liked most” about it. The Virgin Money credit card charges no annual fees, memberships fees or online banking fees, making it very affordable.

The poll also revealed that 19% of subscribers valued the rewards programmes offered to them by their credit card providers as “what they liked the most”. All of the most popular credit cards on the ThinkMoney Web site offer highly rewarding loyalty programmes to consumers, such as the Kulula credit card (Jetsetters) and the Discovery credit card.

Gareth Mountain, CEO of ThinkMoney, commented on these findings: “What many people don't realise is that a credit card is really just a banking product with a personal loan facility. If you aren't diligent in paying off your monthly balance, the interest charges will be very high, making it an expensive product to have in your wallet. But if you use your card to transact and pay your monthly balance, not only do you not pay for purchases, you can also earn some excellent rewards.”

An overwhelming 25% of subscribers in the poll stated they were not happy with their credit card. ThinkMoney allows you to compare a variety of credit cards side-by-side, helping you choose the right credit card for your budget and needs. You can also apply directly on the Web site for a quote on your credit card of choice.

* This is based on an average basket of monthly transactions.