TK
Thomas K

1 reviews | Active since Feb 2019

27 Feb 2019, 08:13

Loan approved and declined in one day.

Hi.

I did an online estimate on a loan with Capitec bank and was approved for around R64 000 while still having active loans with other credit providers. The active loans were paid off (Paid up letters available) and I did another estimate to see how much I would qualify for now that the loans have been paid off. I did the estimate around 24 Hours later and I was then declined.

Before applying for the loan I spoke to a reletaive of mine in order to loan me the amount but because I was approved, I told him it won't be necessary anymore since I've qualidied with Capitec and he subsequently used the money. I now have nowhere else to go.

Any assistance would be appreciated.

0
Replies (6)
Capitec Bank
Capitec Bank's reply27 Feb 2019, 12:30
Official
I acknowledge your posting, and have referred it to Pheliwe Baartman for immediate attention.
 
Feedback will be provided within 5 working days.  I trust that this situation will be resolved to your satisfaction.

Complaint Management
Capitec Bank 
TK
Thomas K's update27 Feb 2019, 14:50
Reviewer Update
Useless
TK
Thomas K's update28 Feb 2019, 07:30
Reviewer Update
So, I decided to give Capitec a call. The person who helped me tried by all means to show me how stupid I am. Apparantly, ITC updates regularly and you could go from approved to declined in a couple of seconds. This just sounds stupid. What someone told me, is that those unauthorised debit orders that I've reversed, are the ones affecting my credit even though these debit orders were reversed and stopped in January, Capitec still deducts fee for stoppped debit orders. This is stupid.
TK
Thomas K's update01 Mar 2019, 13:52
Reviewer Update
So I got a response. Limited affordability, Limited requirements met. What does it mean? I'm told that they have a right to refuse. I think I should just follow the rest of the unhappy customers and move to another bank. It's not like Capitec is the only bank. What's irritating, is that I had another option and because I qualified, I opted to inform the person that it won't be necessary since I've qualified. Capitec's customer service is the worst. ???
TK
Thomas K's update01 Mar 2019, 13:58
Reviewer Update
They still can't explain how my affordability went from R64 000 to R0 in a matter of seconds, so to speak. My advice to you, deliver what you promise. Your apology won't solve my problem now. Remove your online application as it's worth less than what you're spending to keep it running. Look at your call centre as your agents are a bunch of clowns.
Capitec Bank
Capitec Bank's reply01 Mar 2019, 15:57
Official
Good dayAs discussed telephonically, I trust that your issue is now resolved.Pheliwe BaartmanComplaint ManagementCapitec Bank