Petrol card SCAM!!!

C

Clever Blonde

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Joined
Oct 24, 2008
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This morning I checked my credit card statement from FNB and noticed that I had attracted an interrest amount of R46.03. In these now tough economic times and a person that always tries to settle in full to AVOID such interrest I was suprised and called FNB to find out what had attracted this amount. Can you believe it I was told that I attract an INTERREST RATE of 24% on every petrol transaction from date of using the card till date payment is received!!!

I filled up with petrol on 20th August for R492.00 using my Petro Card. I paid my Credit Card Purchases/Petrol Card Account on13th October, the DUE DATE. This petrol transaction of R492.00 attracted a Fuel Transaction Fee of R3.25 and interrest of R14.07 calculated over this period, even though I settled on Due Date.

When I voiced my outrage at this fleecing of my hard earned money the very sweet call centre lady told me that I should then be paying CASH!!!!! SO WHY DO I PAY A YEARLY @##$%^^MEMBERSHIP FEE AND A FUEL TRANSACTION FEE FOR THE CONVENIENCE ONLY TO BE CHARGED INTERREST FOR THIS PRIVILEDGE!!!!!

I consider this practise totally unacceptable and would really enjoy John Maytham addressing it.

I would like to know what the Fuel Transaction Fee is for and who this money goes to??????

I would also like to know why petrol attracts a daily interrest rate when no other credit transactions do as long as settlement is received by Due Date.????????

How many other Cape Talk listeners realize that they are attracting a DAILY INTEREST RATE on their petrol purchases for the privilege of using their Petro Card???

I spoke to CINDY ZULU at FNB Card Division on (011) 369-2800 who will verify the above.

Please discuss.
 
Yip, thats how it works. For some reason the banks aren't allowed to not charge you interest on fuel purchases.
 
but why do they charge? i mean the cost of the interest accured versus the risk you take to carry that money around with you weighs up, i'd rather risk it to carry R600 or so around with me than use a petrol card then.
 
They are forced by law to charge interest on Credit Card purchases, fom date of purchase unless you actually have a positive credit card balance. Their is an act that forces them, maybe the same one that regulates that discounting on petrol is not allowed.

But of course, that is why banks are so eager to offer you a petrol card linked to your credit card!
 
Can you not get a debit petrol card? I also want to cancel my FNB Petro card as I don't really put in that much of petrol that often and don't want to waste money.
 
A one-post wonder who can't spell and doesn't know the regulations. Must be from Pretoria. :D
 
Last edited:
Credit Card transactions has a 40 day interest free period where if you settle your credit card within those 40 days you're not charged an interest fee.

Any bank works like that.

However I doubt the Garage card is like a credit card at all so different rules may apply.
 
AcidRaZor said:
Credit Card transactions has a 40 day interest free period where if you settle your credit card within those 40 days you're not charged an interest fee.

Any bank works like that.

However I doubt the Garage card is like a credit card at all so different rules may apply.
Click to expand...

By law, as I understand it, fuel cannot be bought on credit. So if your garage card is linked to your credit card, a fuel purchase will attract interest immediately.
 
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