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Credit Card Charges

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New Contributor

Re: Credit Card Charges

I took out my credit card to pay for my wedding. I understood a monthly fee of R35 (now R45) would be charged. Plus you are charged interest. Then for each EFT I did to pay for the wedding I paid R1.35 plus a certain % of whatever I was paying (The exact amount is in the pricing guide). So I paid on average R25 for each EFT I made.

 

When I phoned the credit card division, they explained the cash finance charge to me as being an interest charge on the total amount of money I spent that month. So I paid out R13000 for the wedding in December and I was charged interest on that.

 

So technically, it is triple interest they are charging??

- interest on acc

- interest on each transaction

- interest on total monthly spend

Occasional Contributor

Re: Credit Card Charges

That is my fight to. It is just ridiculous.
New Member

Re: Credit Card Charges

I was going through my credit card statment this morning and i have also come across all these Cash finance charges that have come off my card.  They all happen the same time of the month the day i make a payment into my account.  on the 28th i had R257 , R35, R25 taken off my credit card.  i really need an explanation for this and when you try and phone no body can help or the phone keeps cutting off as you get someone on the other end.  I make payments every month but i cant get anywhere with the fiannce charges eating away at them.   Can somebody please assist me.

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New Contributor

Re: Credit Card Charges

This is shocking. I spent NOTHING on my credit card and I get cash financed charged AGAIN!!!!!!! As well as the finance charge.

I want an explanation. No explanation and I am taking this to the banking ombudsman and to 567 Cape Talk!!!!!!!!!!!!!!!

My husband has a credit card with FNB and has no other hidden fees!!!

 

I am moving my entire banking over to FNB.

New Contributor

Re: Credit Card Charges

Hey, smart person (I am being sarcastic) reading these forums on behalf of Standard Bank, Get off your chair, walk to your bank charges division and ask them WTF is these cash finance fees. because as you can see not one branch can tell anyone what they are. They don't make sense and no one can tell us what we are being billed for.... We are almost 20 people complaining about this? Here is a tutorial on how to stand up and walk... https://www.youtube.com/watch?v=uT5T5745tCE

 

Let me know if you need one on how to communicate to colleagues.