PRIME RATE INCREASED BY 2.50% since JANUARY 2022, but ABSA increased their rate by 6.00% - UNACCEPTABLE !!!

I am SHOCKED, APPALLED, DISGUSTED and FURIOUS ---- ABSA !!!!

HOW in hell do you justify a general increase of 5.00% and 5.25% interest on my credit card OVER AND ABOVE the PRIME + 5.25% --- in a matter of WEEKS ???

On 2022/07/21 the PRIME RATE was 9.00% and the interest payable on my credit card was DOUBLED to 18.00%. I am being charged DOUBLE the PRIME RATE ???

On 2022/09/22 the PRIME RATE was 9.75% and the interest payable on my credit card was increased to 19.00%, yet ANOTHER 1.00% - now I am being charged PRIME PLUS 9.25% ???

Date Increase / Increase / Changed Prime Rate (Decrease) ABSA Rate (Decrease) Prime + 2020/01/17 9.75% 0.00% 16.00% 0.00% 6.25% 2020/03/20 8.75% -1.00% 15.00% -1.00% 6.25% 2020/04/15 7.75% -1.00% 13.00% -2.00% 5.25% 2020/05/22 7.25% -0.50% 13.00% 0.00% 5.75% 2020/07/24 7.00% -0.25% 12.00% -1.00% 5.00% 2020/09/18 7.00% 0.00% 12.00% 0.00% 5.00% 2021/11/18 7.25% 0.25% 13.00% 1.00% 5.75% 2022/01/28 7.50% 0.25% 13.00% 0.00% 5.50% 2022/03/24 7.75% 0.25% 13.00% 0.00% 5.25% 2022/05/19 8.25% 0.50% 14.00% 1.00% 5.75% 2022/07/21 9.00% 0.75% 18.00% 4.00% 9.00% 2022/09/22 9.75% 0.75% 19.00% 1.00% 9.25%

Between 2022/01/28 and 2022/09/22 the prime rate increased by 2.50% but the interest charged on my credit card increased by 6.00% over the same period.

On 2020/01/17 the PRIME RATE was 9.75% and the interest charged on this credit card was 16.00% = PRIME + 6.25%

On 2022/09/22 the PRIME RATE again stands at 9.75% BUT the interest charged on this credit card now is 19.00% = PRIME + 9.25% That is DOUBLE the prime rate !!!

HOW DO YOU JUSTIFY THAT ?????

HOW IS THAT ACCORDING TO NCR REGULATIONS ???? For the period 15 Apr 2022 to 14 May 2022 the interest on my credit card was 13.00% today, a mere 5 months later, this interest has increased by 6.00% ??? WITHOUT A NOTIFICATION TO INFORM ME OF THE INCREASES !!! THAT IS UNACCEPTABLE !!!

On 01 AUGUST 2020 the balance on this card was R27,953.55. Since 01 AUGUST 2020 I have NOT made ANY PURCHASES on this card, only PAYMENTS. That is a total of 26 months with a total of R25,520.33 already paid . Instead of having a balance of around R2,433.22, the balance currently stands at R8,880.29 due to the EXUBERANT INTEREST CHARGES !!! I ALWAYS pay more than DOUBLE the minimum payment due, BUT the end is STILL NOT IN SIGHT !!!

YOU HAVE CHEATED ME TOO MANY TIMES ALREADY. YOU HAVE NEVER RECTIFIED THE COVID RELIEF CREDITS I WAS ENTITLED TO AND NEITHER HAVE YOU REDUCED THE INTEREST CHARGED ON PAYMENTS WHICH YOU HAVE TAKEN INTO ACCOUNT ONLY 2 TO 4 MONTHS LATER.

I DEMAND that you adjust the interest according to the PROPER standards AND according to NCR regulations, ALSO - I DEMAND that you reverse the OVERCHARGED INTEREST IMMEDIATELY !!! I DO NOT ACCEPT YOUR EXUBERANT INTEREST CHARGES AND REFUSE TO BE BUL**** BY YOUR GREED !!!