Credit Facility Fee

[MikeSA]

I do not know whether the other banks are following suit, but why has Nedbank started charging credit card holders a Credit Facility Fee - even when no credit card purchases have been made? That is simply unfair. The Fee is in addition to the Service Fee that was previously charged. Would there be any merit in lodging a complaint against the Bank with the Consumer Commission?

 

[ld13]

I am killing my nedbank credit card due to this. I am not going to bother fighting it.

 

[cyberbob1979]

I think my FNB Gold bundle account has the same

 

[supersunbird]

I do not know whether the other banks are following suit, but why has Nedbank started charging credit card holders a Credit Facility Fee - even when no credit card purchases have been made? That is simply unfair. The Fee is in addition to the Service Fee that was previously charged. Would there be any merit in lodging a complaint against the Bank with the Consumer Commission?

I've had that fee for years and all the other banks/cards seem to have it except the VM CC.

 

[gfmalan]

No monthly or yearly fees at SBSA, just interest on outstanding amount per month.

If it were a stand alone credit card R57 a month.

 

[midnightcaller]

The credit facility fee has been there for a good few months.

 

[TheMightyQuin]

Banks do this because they CAN....R22 here...R11 there...and they make up these fees as the go along. The problem is that ALL banks do this so there's no escape from it.

 

[backstreetboy]

Move over to Capitec.

 

[supersunbird]

Move over to Capitec.

And you sure the R35 isn't broken up into 2 fees?

My Nedbank CC and FNB CC the monthly fee cost is just the R37pm and R43pm costs advertised on the website broken into Service Fee + Credit Facility Fee .

 

[cr@zydude]

Move over to Capitec.

Best option is still Virgin Money at R150 joining fee and no annual or card replacement fee.

Capitec is R100 to join, R35pm in fees and R55 to replace the card.

 

[backstreetboy]

Best option is still Virgin Money at R150 joining fee and no annual or card replacement fee.

Capitec is R100 to join, R35pm in fees and R55 to replace the card.

Yeah but the VMCC portal is really grinding my gears lately. Might jump over.

 

[Adrianax]

FNB definitely has this too on their Gold card.

Here are my fees:

Once off R175 initiation fee.

Monthly R15 credit facility fee.

Monthly card account fee of R65.

Monthly card rewards fee of R18.50

 

[supersunbird]

FNB Gold CC

#Credit Card Account Fee - R31
#Credit Facility Service Fee - R15

 

[Kalle]

thats why I dumped all my credit cards and went to debit cards. Way better in my point of view.

 

[supersunbird]

thats why I dumped all my credit cards and went to debit cards. Way better in my point of view.

Meh, my Virgin Money CC is free. My Nedbank CC is R37pm which is about my tolerance in regards to pricing for a CC.

FNB CC is R46pm and the only reason I still have it is ebucks. If I didn't earn more on ebucks than the CC and Cheque account cost me, I'd drop it all in a heartbeat and just swipe with my Capitec Card again.