Capitec - Yay or Nay?

[Bismuth]

For me it's a YAY

I have not borrowed money from them, but if you do, it is unsecured, and hence a higher interest rate. As far as I know, the only report to one credit bureau, but not sure.

I wouldn't MIND if they started offered some sort of home loan/vehicle finance, but that is a whole different kettle of fish, and they probably don't want to get involved in that sort of finance.

I moved from Nedbank years ago, and have been happy ever since.

However, if Capitec folded, my second choice currently would be FNB.

B

 

[Flip-Flop]

For me it's a YAY

I have not borrowed money from them, but if you do, it is unsecured, and hence a higher interest rate. As far as I know, the only report to one credit bureau, but not sure.

I wouldn't MIND if they started offered some sort of home loan/vehicle finance, but that is a whole different kettle of fish, and they probably don't want to get involved in that sort of finance.

I moved from Nedbank years ago, and have been happy ever since.

However, if Capitec folded, my second choice currently would be FNB.

B

As they intensify their focus on higher income groups, they are set to look at doing this kind of credit. They are looking at doing a Capitec credit card, but this has been the case for years now. Rather disappointing that they still have not been able to bring it to market.

 

[Bernie]

thank you to all for the information. I appreciate it very much.

One thing Im still wondering about. What is the story about some stores/shops not accepting a card WITHOUT raised numbers on the card? What's the story with that?

I noticed that all cards I have ever had have RAISED numbers. Capitec card is printed on

Experienced this with AVIS in Dec 2013, they wouldn't let me use a capitec card as it didn't have raised digits.

 

[ld13]

As far as I know, the only report to one credit bureau, but not sure.

Where does this come from? Only reporting to one credit bureau might actually be a good thing, but alas this is not true from feedback in this very thread.

 

[Drunkard #1]

I must go with nay.

Their T&Cs disregard the confidentiality of your data, are in violation of the POPI Act and CPA, and nobody at Capitec answers emails regarding this. This is now going to the Banking Ombudsman, where it may be resolved, but I just don't trust this bank.