Buying on credit this Black Friday? A R6,000 deal can cost R8,400

A R6,000 Black Friday deal paid off at R350 a month over 24 months costs you R8,400 in total, which is R2,400 or 40% more than the sticker price. That's the warning from the National Financial Ombud (NFO), which wants shoppers to check the full amount they will repay before signing up for credit on 27 November.

The NFO says its example is illustrative, not a real credit quote, but it shows why the monthly instalment alone can be misleading (NFO, Sowetan).

How much more does a deal cost on credit?

Sources: National Financial Ombud, illustrative example only.

The total amount repayable should include interest, fees and any insurance added to the agreement, the NFO says.

Nerosha Maseti, the NFO's banking and credit lead ombud, said a discount may cut the purchase price, but financing it "creates an obligation that continues long after the sale has ended" (NFO).

Is buy now, pay later any safer?

Some buy now, pay later (BNPL) plans charge no interest, but the NFO warns that small deferred payments add up. Four purchases at R500 a month each come to R2,000 a month, all paid from the same household income.

Sources: National Financial Ombud.

Does credit approval mean you can afford it?

Not necessarily. The National Credit Act requires lenders to do affordability checks, but the NFO says approval should not replace your own check of whether the repayments are sustainable (NFO). You also have to give the lender accurate financial information.

If repayments are already a struggle, see how debt review works before taking on more.

What should you check before you buy on credit?

The NFO's list boils down to seven steps:

1. Compare the total cost, not just the discount.
2. Set a spending limit that leaves room for essential household costs.
3. Add up every repayment you already have, including store accounts and BNPL.
4. Don't let a one-day deal rush a long-term decision.
5. Read the repayment terms, charges, cancellation terms and what happens if you miss a payment.
6. Keep agreements, receipts, repayment schedules and refund confirmations.
7. Act quickly if something goes wrong.

The Sowetan also reports the NFO's advice to track prices in the months before Black Friday so you can tell whether a discount is real.

What if the item breaks or you return it?

Returning a product does not automatically cancel the credit used to buy it, the NFO says. It depends on the type of financing, the reason for the return and the law that applies.

The NFO notes that under the Consumer Protection Act, defective goods can generally be returned within six months for a repair, replacement or refund, subject to the Act's conditions (NFO). If you return an item bought on credit, tell the credit provider straight away, get written confirmation of any refund and check that your balance is adjusted.

Where can you complain?

Start with the retailer or credit provider. If a complaint about a participating non-bank credit provider isn't resolved, the NFO's banking and credit division can look at disputed balances, interest and charges, credit bureau listings and fraud. Contact the NFO on 0860 800 900 or [email protected] (NFO).

For dates and early deals, see our Black Friday 2026 guide, and read up on online card fraud and your cooling-off rights before you shop online.