Advise to all - review your interest rate for any credit you have with Capitec Bank

Following my enquiry about the change in the revolving credit interest rate, I encourage everyone to review their current interest rate in their Capitec loans that they have - something shady is happening here.

Firstly, their complaints management department responded to me and told me that the interest rates in SA when up and this is why there was a change. I understand that - what I don't understand is that the interest rate didn't go up by 5% last year so it doesnt justify their sharp increase. They then told me about my credit profile which I confidently answered that there were no changes to my credit profile because for a year I was not taking or applying for any credit. I was also paying for the Capitec account and vehicle finance every month, on time - plus, I have ClearScore that updates me so I know.

After checking ClearScore and Transunion to see if there is anything I might have missed, I decided to check Experian. To my shock, Capitec updated that my account was in arrears between January 2023 to March 2023 which is a lie. Between Nov 2022 and March 2023 the insurance was covering this due to me being unemployed. Unless of course, the insurance that we pay for monthly doesn't in fact cover you in a case where you have been retrenched and we are basically giving you money for vibes because why else would you say I have not been paying when I submitted a claim that was approved?

I am really looking forward to engaging with you on this matter, Capitec Bank, because this is the battle I am not going to let go until you provide me with all the answers that I need.

PS - I'm still waiting for that email you supposedly sent to me notifying me of the interest rate increase according to your section 4 page 4 of 8 in our contract.

Thanks.