So I went to Capitec

Swa

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As mentioned, Virgin Money expired card replacement is free including courier.

My FNB easy account (R4.95 per month) gives me a free replacement debit card when the current expires.

Capitec are the odd one out here.
Credit cards. Most bank cards you pay a replacement fee. Even Tyme has a replacement fee. It's not something unusual.
 

Soul Assassin

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Credit cards. Most bank cards you pay a replacement fee. Even Tyme has a replacement fee. It's not something unusual.
I'm confused too, is he really complaining about paying R65 for something that only needs replacing again in 2024.
 

FlashSA

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Credit cards. Most bank cards you pay a replacement fee. Even Tyme has a replacement fee. It's not something unusual.
2 things. Replacement fee for lost or stolen card is all good. Replacement fee for an expired card not good.

FNB Easy account is a savings account and direct competitor to a Capitec Global One account. Both also use debit cards which expire. Only FNB replaces an expired card for free which is how it should be. A fee is a penalty. How can a bank penalise a client by way of a fee when their card they issued and dated has expired. So now they want to penalise the client for wanting to continue to bank with them?
 

FlashSA

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I'm confused too, is he really complaining about paying R65 for something that only needs replacing again in 2024.
Why should a client pay? If the client lost the card, they must definitely pay. But why is the card expiry the client's problem?

It's not the R65. It's the point of having to pay for an expired card I take exception to and I refuse to pay it.
 

Swa

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I'm confused too, is he really complaining about paying R65 for something that only needs replacing again in 2024.
Yes it's R1 a month (R65/66 months). Capitec recently lowered their account admin fee and they still pay the best interest. With credit cards you pay for it in any case through other fees.

2 things. Replacement fee for lost or stolen card is all good. Replacement fee for an expired card not good.

FNB Easy account is a savings account and direct competitor to a Capitec Global One account. Both also use debit cards which expire. Only FNB replaces an expired card for free which is how it should be. A fee is a penalty. How can a bank penalise a client by way of a fee when their card they issued and dated has expired. So now they want to penalise the client for wanting to continue to bank with them?
We would all like everything to be free. Unfortunately the world doesn't work like that. I only pointed out that Capitec isn't the exception here but rather the norm. It's also not a penalty. Do you see it as a penalty when you have to replace a phone even though you didn't lose the old one? People are also not comparing apples to apples here.
 

rodga

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Yes it's R1 a month (R65/66 months). Capitec recently lowered their account admin fee and they still pay the best interest. With credit cards you pay for it in any case through other fees.


We would all like everything to be free. Unfortunately the world doesn't work like that. I only pointed out that Capitec isn't the exception here but rather the norm. It's also not a penalty. Do you see it as a penalty when you have to replace a phone even though you didn't lose the old one? People are also not comparing apples to apples here.
zero fees for virgin cc
I agree with flash, lost or damaged card I dont mind paying for. Expired cards should be reissued at no cost.
 

Soul Assassin

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I replaced my card earlier this year and I'm 90% sure they forgot to charge me because I checked for 3 months and the R65 never went off.
 

Swa

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zero fees for virgin cc
I agree with flash, lost or damaged card I dont mind paying for. Expired cards should be reissued at no cost.
Credit card. You can't compare it to a bank card which most charge for. And there are indeed fees attached to any cc, they're just hidden.
 

mr_norris

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And there are indeed fees attached to any cc, they're just hidden
What hat did you pull that out of?

I too have a Virgin credit card. I've had mine since 2008. I've paid no card replacement fees, ever (my cards expired a few times, and they were replaced once because of fraudulent activity, I also have two petrol cards linked and another credit card in my dad's name linked to the main account, at no cost). I've paid no account fees, ever.

If I do the maths, zero if far less than R65.

and they still pay the best interest.
Last time I checked, Tymebank and their 9% interest rate was the best. If you can show me that Capitec beats that, I'll sign up on the spot and move my money.
 

Swa

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What hat did you pull that out of?

I too have a Virgin credit card. I've had mine since 2008. I've paid no card replacement fees, ever (my cards expired a few times, and they were replaced once because of fraudulent activity, I also have two petrol cards linked and another credit card in my dad's name linked to the main account, at no cost). I've paid no account fees, ever.

If I do the maths, zero if far less than R65.



Last time I checked, Tymebank and their 9% interest rate was the best. If you can show me that Capitec beats that, I'll sign up on the spot and move my money.
Comparing apples to oranges as I said.
 

supersunbird

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I'm confused too, is he really complaining about paying R65 for something that only needs replacing again in 2024.
The current Capitec credit card expires after a year. So R65 a year, above the monthly fee paid. If it expired every few years, different story.
 

supersunbird

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Yes it's R1 a month (R65/66 months). Capitec recently lowered their account admin fee and they still pay the best interest. With credit cards you pay for it in any case through other fees.


We would all like everything to be free. Unfortunately the world doesn't work like that. I only pointed out that Capitec isn't the exception here but rather the norm. It's also not a penalty. Do you see it as a penalty when you have to replace a phone even though you didn't lose the old one? People are also not comparing apples to apples here.
R65/12 gives me R5.41pm. I got my credit card in January 2019 and it expires January 2020, or did that now change in the past 8 months?

Have to? Did the phone expire?"
 

FlashSA

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The current Capitec credit card expires after a year. So R65 a year, above the monthly fee paid. If it expired every few years, different story.
The plot thickens. Now I know their response that they make no profit from the R65 is BS. I'm betting they are intentionally making the cards only last 12 months as an extra revenue stream!!
 

rodga

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Credit card. You can't compare it to a bank card which most charge for. And there are indeed fees attached to any cc, they're just hidden.
Please show me where these hidden fees are. The virgin card has no monthly fee. The only additional fee I have to pay is interest if I make a late payment.
 

backstreetboy

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The current Capitec credit card expires after a year. So R65 a year, above the monthly fee paid. If it expired every few years, different story.
You don't pay for a new Credit card (well I didn't when I got a new one). Think they already factored it into the monthly R35 fee.
 

backstreetboy

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Please show me where these hidden fees are. The virgin card has no monthly fee. The only additional fee I have to pay is interest if I make a late payment.
The VMCC is an abnormality though. Pretty sure the people paying 20% interest pays for everyone or somesuch like ebucks.
 

mr_norris

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Please show me where these hidden fees are. The virgin card has no monthly fee. The only additional fee I have to pay is interest if I make a late payment.
It's comparing apples to oranges remember. You mention any sort of logic and the blinkers drop.
 

rodga

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Ya I don't get card. The initial question was to show me a bank card that doesn't charge for a replacement. Then I do. The question changes to "no it must be a low cost bank account". Done. Then it changes again to not include a credit card as the monthly fee will cover the cost of the replacement. A credit card with no monthly fee or any fee is presented and still this is not enough to satisfy, the goalposts keep moving.

Banks decide how long a card is valid for. They should not charge for a replacement card of it is expired. Whether the account is R500 or R5 per month. That's like mtn charging us to get a new simcard cos the one I have been using all the time is expired.
 

Swa

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Please show me where these hidden fees are. The virgin card has no monthly fee. The only additional fee I have to pay is interest if I make a late payment.
Credit card charges interest. Bank account pays interest. So there is a fee worked into the product even if you're not the one paying it. Unless I'm missing something here we're talking about bank cards as I'm not aware of Capitec charging an extra fee for their credit card.

Ya I don't get card. The initial question was to show me a bank card that doesn't charge for a replacement. Then I do. The question changes to "no it must be a low cost bank account". Done. Then it changes again to not include a credit card as the monthly fee will cover the cost of the replacement. A credit card with no monthly fee or any fee is presented and still this is not enough to satisfy, the goalposts keep moving.

Banks decide how long a card is valid for. They should not charge for a replacement card of it is expired. Whether the account is R500 or R5 per month. That's like mtn charging us to get a new simcard cos the one I have been using all the time is expired.
No I asked who doesn't because it is the norm and not the other way around. I don't get why it's made an issue. If your bank doesn't charge you because they make up the cost somewhere else then fine. I guess he'll rather pay R6.50 per month for the account instead of R5 plus the R1 per month card fee.
 
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