Capitec Limits Credit Options for Weekly Paid Clients – Very Disappointing

I recently closed my account with Standard Bank and moved to Capitec, expecting a smooth and more modern banking experience. Unfortunately, it has been nothing short of frustrating.

After going through the tedious process of updating all my debit orders last month, I visited a Capitec branch this past Saturday to apply for a credit card and personal loan to settle my credit facilities at Standard Bank. I was shocked to learn that Capitec does not offer credit cards to clients who are paid weekly, and that the maximum personal loan available to weekly earners is capped at R50,000.

This policy is incredibly restrictive and, quite frankly, feels discriminatory towards a significant portion of South Africans who are paid weekly. Income frequency should not determine access to credit — especially when affordability, job stability, and account history are in good standing. My weekly income exceeds many monthly salaries, yet I am unfairly penalised based solely on how often I am paid.

I moved to Capitec with the expectation of support and flexibility. Instead, I’m left reconsidering my decision. I urge Capitec to review this outdated and unfair policy and adopt more inclusive credit assessment criteria