Misguided Information

Just a heads up if anyone is reading this and is considering taking out a Revolving credit Facility with Capitec. 2 Weeks ago the Mrs and I went to the Table Bay Mall's branch and app**** for a credit card but was told to go for the the Revolving Facility as it is more beneficial. We were told by the consultant that if we take the R50k and use what ever amount then we can change the repayment term at any time as we did not want to repay the debt over 60 months but 2 years instead and that we can amend the repayment term as we want. She said no worries this can be done. So we tested it by looking at transferring R500.00 from the facility to the savings account and it showed the R500.00 must be repaid back in three months MAX and the repayment amount was almost R1 100.00. More than Double the R500.00. This would then mean that in - duplim can be implemented. Secondly they charge a different initiation fee per amount taken, this cannot be done as we agreed to one amount so there must only be one initiation cost that must be repaid over the repayment of the Capital Balance. Then the interest rate changes from time to time. This cannot be right because on the initial R50 0000.00 credit granted there is one initiation cost and a fixed rate was provided by the consultant of Around 15% and no mention of a varied interest rate. They keep taking your finger prints for the digital signature and we were not given any material to read prior or during engagement other that amount taken, repayment and interest rate was shown and up until today no Pre - Agreement nor the granted credit agreement and its T's and C's was sent to us. I am looking at taking this to the Ombudsman and NCR. I am shocked at being misled in this way.