Discriminating Against Retirees

<p>Attracted by theesimplicity of their bank account offering, low fees and relatively high interest rates on daily balances, I opened an account with Capitec about 8 weeks ago as the first step to moving my banking business to them. Last week I was invited to apply for a credit card which is essential to replace the credit card I hold from my current bank. I provided all the information and copies of documents required only to be told today that: 1. My monthly high 5 figure nett retirement annuity certified by Allan Gray is not a regular monthly pension and 2. At 67, I'm too old to qualify for credit, so no credit card for me. Depsite Capitec's stated objective of moving into the middle and upper end of teh market, their actions and policy suggest that they prefer not to deal with retiree's who fall into this new target market, so I've today transferred the available balance from my Capite account back to my reular account and I'll close it just as soon as they let me.</p>