SY
Sean Y
1 reviews | Active since May 2017
01 Aug 2025, 12:45
From Debt Relief to Debt Trap by Capitec
Capitec Bank removed me from debt review, only to saddle me with a loan charging a staggering 21% interest. The result? A repayment plan so stretched, it’ll take me nearly 20 years to pay it off. That’s not financial relief — it’s a trap. Instead of helping me climb out of debt, they’ve locked me into a cycle that benefits them while draining me. TRUELY A DESPICABLE BANK.. STAY AWAY FROM THEM!!
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Replies (3)
Capitec Bank's replyOfficial
01 Aug 2025, 14:39Good day Sean
Thank you for letting us know of your concern, and for your patience while we explore this matter. We have assigned your query to a designated official who will contact you within the next business day.
Kind regards,
Capitec Bank
Capitec Bank's reply01 Aug 2025, 14:39
Official
Good day Sean
Thank you for letting us know of your concern, and for your patience while we explore this matter. We have assigned your query to a designated official who will contact you within the next business day.
Kind regards,
Capitec Bank
SY
Sean Y's updateReviewer Update
04 Aug 2025, 10:47 I was under debt review, trying to do the right thing and get my finances back on track. But the moment Capitec removed me from the program, they hit me with a brutal 21% interest rate. No warning, no support—just a massive financial blow.Now I’m stuck in a cycle where my monthly payments barely touch the principal. It’s like I’m paying rent on my own debt. The interest alone is eating up my income, and what should’ve been a path to freedom feels more like a trap.Capitec talks about helping customers, but this experience says otherwise. They don't get back to you its all smoke and mirrors trying to protect their image on Hello Peter saying they contact the client but do they actually offer any help..NOOO!!! its you MUST JUST PAY!!!
SY
Sean Y's update04 Aug 2025, 10:47
Reviewer Update
I was under debt review, trying to do the right thing and get my finances back on track. But the moment Capitec removed me from the program, they hit me with a brutal 21% interest rate. No warning, no support—just a massive financial blow.Now I’m stuck in a cycle where my monthly payments barely touch the principal. It’s like I’m paying rent on my own debt. The interest alone is eating up my income, and what should’ve been a path to freedom feels more like a trap.Capitec talks about helping customers, but this experience says otherwise. They don't get back to you its all smoke and mirrors trying to protect their image on Hello Peter saying they contact the client but do they actually offer any help..NOOO!!! its you MUST JUST PAY!!!
SY
Sean Y's updateReviewer Update
04 Aug 2025, 10:50 Capitec – The Corporate Loan Shark You Didn’t See Coming ...
SY
Sean Y's update04 Aug 2025, 10:50
Reviewer Update
Capitec – The Corporate Loan Shark You Didn’t See Coming ...