Capitec tranished my name

I have been with this bank for over 10 years, and I am frustrated and disappointed with its internal policies regarding paid-up loans. I took out a credit card in 2017, and everything was fine until 2020 when my company closed down, and I was retrenched. All your products come with insurance for retrenchments and deaths, so I took my retrenchment documents to the branch. After a few days, I received a message saying my claim was approved. The claim to settle the balance was for R11,400.

After one week, I inquired about the account and was informed that the insurance, also with Capitec, had paid the amount stated in the settlement. I then destroyed the card and never used it again. However, late in 2023, I began receiving messages about an outstanding credit card. Since I knew I didn't have one, I ignored the messages.

In 2024, I received calls about an outstanding credit card from a third party collecting on behalf of Capitec. I went to the branch to inquire about it, and the explanation shocked me. I was told that when I app**** for the retrenchment insurance benefit, the outstanding balance was R11,400. Capitec's insurance made the payment four days later, at which point the interest for the new month had been calculated, resulting in a new balance of R11,600. The insurance only paid R200 less, and no one had informed me of this. I only became aware of the remaining balance almost four years later when it had accumulated to R1,800.

I made payments, and when I settled the outstanding amount, I received a pay-up letter. To my shock, when I app**** for credit later, I was notified that there was a flag on my name with the credit bureau. The insurance was Capitec’s, which covered my retrenchment. The moment my claim was approved, it was the responsibility of your own insurance company and the bank to ensure the outstanding amount was covered. The insurance on the card was worth R18000, yet I am being penalised and flagged on the bureau. Your credit card, your insurance—yet somehow, I am left with a tarnished name. How does this make sense?