sL
sebastian L
1 reviews | Active since Jun 2026
20 Aug 2026, 11:21
bad customer service with attitude and finchoice is causing people bad credit reports due to the 12 month payjustnow
Formal Complaint – Repeated Opening and Closure of FinChoice Accounts and Negative Impact on My Credit Profile
Dear FinChoice Complaints/Compliance Department,
I am writing to formally lodge a complaint regarding the manner in which my FinChoice/FinChoicePay/Pay in 12 transactions and accounts are being reported to the credit bureaus.
I have used FinChoice/Pay in 12 and understand that individual transactions may result in separate account numbers. However, the repeated opening and subsequent closure of accounts is negatively affecting my credit profile and credit score.
My Experian credit score recently decreased by 33 points, from approximately 611 to 578. ClearScore specifically indicated that the decrease was linked to the recent closure of FinChoice accounts.
I am concerned that the manner in which these transactions are being opened, reported and closed is creating an inaccurate or unnecessarily adverse representation of my credit history.
I therefore formally request that FinChoice investigate this matter and provide me with the following:
A complete list of every FinChoice, FinChoicePay, Pay in 12 or related credit account that has ever been opened in my name. The account number, opening date, closing date, original credit amount/limit, outstanding balance and current status of every such account. Copies of the credit agreements, applications and other records supporting each account reported in my name. Details of every credit-bureau enquiry made by FinChoice in relation to these accounts, including the date and purpose of each enquiry. Confirmation of exactly which accounts and account information FinChoice has reported to each credit bureau. An explanation of why these accounts are repeatedly being opened and closed and how FinChoice believes this reporting should affect my credit profile. A full investigation into whether the information currently being reported to the credit bureaus is accurate, complete and appropriately reflects my actual credit relationship with FinChoice. Where any information is inaccurate, duplicated, incorrectly classified or unnecessarily reported, I request that FinChoice immediately correct the information and notify all relevant credit bureaus of the correction.
I further request that FinChoice provide me with written confirmation once the investigation and any necessary corrections have been completed.
I reserve all my rights in terms of the National Credit Act 34 of 2005, the Protection of Personal Information Act 4 of 2013 and any other applicable legislation.
In particular, I exercise my right to request access to and correction of personal information held and processed about me. FinChoice's own privacy policy confirms that customers may request access to their personal information and request correction or removal of information believed to be inaccurate.
Please treat this as a formal complaint and information/correction request.
I request a substantive written response rather than a general confirmation that the accounts are "correct". Please provide the supporting records and explanation requested above.
If this matter is not satisfactorily resolved, I reserve the right to escalate the complaint to the relevant credit bureau dispute process, the National Credit Regulator, the Information Regulator and/or the appropriate dispute-resolution or tribunal process.
Please confirm receipt of this complaint and provide me with a reference number.
Yours faithfully,
Helpful (0)
Replies (3)0
Replies (3)
Finchoice's replyOfficial
20 Aug 2026, 11:45Hello Sebastian,
We're sorry to hear about the concerns you've raised regarding your FinChoice accounts and the impact on your credit score. We take these matters very seriously and want to ensure every customer has an accurate and fair credit report. Please be assured we will conduct a thorough investigation into your concerns. This will include reviewing all your accounts, how they've been reported, and verifying the accuracy of the information. While we carry out this detailed investigation, please expect an email update from us. We'll aim to provide you with clear, specific information and answers to all your queries.
Warm regards,
The FinChoice Team
Finchoice's reply20 Aug 2026, 11:45
Official
Hello Sebastian,
We're sorry to hear about the concerns you've raised regarding your FinChoice accounts and the impact on your credit score. We take these matters very seriously and want to ensure every customer has an accurate and fair credit report. Please be assured we will conduct a thorough investigation into your concerns. This will include reviewing all your accounts, how they've been reported, and verifying the accuracy of the information. While we carry out this detailed investigation, please expect an email update from us. We'll aim to provide you with clear, specific information and answers to all your queries.
Warm regards,
The FinChoice Team
sL
sebastian L's updateReviewer Update
20 Aug 2026, 11:47My understanding is that I have a 12-month revolving credit facility with FinChoice. However, each time I make a further purchase, it appears that FinChoice opens a new account number and closes the previous account, even though the previous account/balance has not been paid in full and my underlying credit relationship with FinChoice remains ongoing.
This practice is causing serious concern because the credit bureaus appear to be receiving a history of multiple accounts being opened and then closed, despite the fact that I have not necessarily settled the underlying indebtedness and am continuing to use the same revolving credit facility.
My Experian credit score recently decreased by approximately 33 points, from 611 to 578. ClearScore indicated that the decrease was associated with the recent closure of FinChoice accounts.
I therefore require FinChoice to investigate whether the manner in which these accounts are being reported accurately reflects my actual credit relationship and outstanding indebtedness.
1. Explanation of the account structure
Please provide a clear written explanation of the following:
If my FinChoice facility is a revolving 12-month credit facility, why is a new credit account being opened and the previous account being reported as closed every time I make another purchase, particularly where the previous balance has not been paid in full?
Please confirm whether the "closure" of each previous account means:
- The credit agreement was genuinely terminated;
- The outstanding balance was fully settled;
- The indebtedness was transferred to another account;
- The account was merely administratively closed in FinChoice's internal system; or
- A new transaction/account was created while the underlying revolving credit relationship remained active.
This distinction is extremely important because reporting an account as "closed" may give the credit bureau and other users of my credit report the impression that the associated credit relationship and indebtedness had been settled or terminated, when that may not be the case.
2. Credit-bureau reporting
I request confirmation of exactly how FinChoice reports these transactions to each credit bureau.
For every account reported in my name, please provide:
- Account number;
- Date opened;
- Date closed;
- Original amount/credit limit;
- Amount advanced;
- Outstanding balance at closure;
- Current outstanding balance;
- Payment history;
- Account status reported to the bureau;
- Date the information was submitted; and
- The reason for reporting the account as closed.
Please also confirm whether the account is reported as a revolving credit facility, instalment agreement, short-term credit agreement or another category.
3. Supporting documentation
Please provide copies of the relevant:
- Credit agreements;
- Applications;
- Terms and conditions;
- Account statements;
- Transaction records;
- Account-opening records;
- Account-closure records; and
- Any other documentation re**** upon when reporting these accounts to the credit bureaus.
I specifically request documentary evidence supporting the reported closure of each account, including evidence showing whether the associated balance was actually settled at the time the account was reported as closed.
4. Accuracy of the information reported
I formally dispute any information that suggests that an account was fully settled or that a credit relationship was terminated where the underlying balance remained outstanding or where I continued to use the same revolving credit facility.
I request that FinChoice investigate whether the current reporting is:
- Accurate;
- Complete;
- Correctly classified;
- Non-duplicative;
- Consistent with the actual credit agreement;
- Consistent with the actual outstanding balances; and
- An accurate representation of my credit relationship with FinChoice.
If FinChoice's internal system closes one account number and creates another for administrative purposes, I require FinChoice to explain why this should be represented to the credit bureaus as multiple separate credit accounts rather than as activity occurring under an ongoing revolving credit facility.
5. Impact on my credit profile
I am particularly concerned that repeatedly reporting accounts as newly opened and subsequently closed may create an artificially adverse representation of my credit history and may negatively affect my credit score.
My credit score has already decreased by approximately 33 points, from approximately 611 to 578, and the information available to me indicates that the recent FinChoice account closures contributed to this decrease.
I am not asking FinChoice to remove accurate information merely because it has affected my credit score.
Rather, I am requesting that FinChoice establish that each account and every item of information reported against me is accurate, properly classified, non-duplicative and supported by credible documentary evidence.
Where the reporting does not accurately reflect my actual credit relationship, I request that the information be corrected.
6. Correction of inaccurate information
If your investigation establishes that any account has been:
- Incorrectly reported as closed;
- Incorrectly classified;
- Duplicated;
- Reported with an incorrect balance;
- Reported with incorrect opening or closing dates;
- Reported as settled when it was not settled; or
- Otherwise inaccurately or misleadingly reported,
I request that FinChoice correct the information and notify all relevant credit bureaus of the correction.
Please provide written confirmation of the corrections submitted, including the date of submission and the specific information that was corrected.
7. Formal access and correction request
I also exercise my rights to request access to and correction of personal information held and processed about me.
Please provide me with all personal and credit-related information held by FinChoice that is relevant to this complaint, including the records used to determine what information was submitted to the credit bureaus.
Where information is found to be inaccurate, incomplete or improperly recorded, I request that it be corrected in accordance with the applicable legislation.
8. Substantive response required
Please do not respond merely by stating that the accounts are "correct" or that the account numbers relate to individual transactions.
I require FinChoice to specifically answer the central question:
Why are accounts being reported as closed when the previous balance has not been fully paid and I remain in an ongoing revolving credit relationship with FinChoice?
If FinChoice maintains that this reporting is correct, please provide the contractual, regulatory and documentary basis for that position and explain how the reporting accurately represents my actual outstanding indebtedness and ongoing revolving credit facility.
Please treat this correspondence as a formal complaint and formal request for access to and correction of my personal information.
Please confirm receipt of this complaint and provide me with a formal complaint/reference number.
I request a substantive written response addressing each of the issues raised above.
If this matter is not satisfactorily resolved, I reserve all my rights to escalate the matter through the relevant credit-bureau dispute process and, where appropriate, to the National Credit Regulator, Information Regulator, Credit Ombud and/or other applicable dispute-resolution or tribunal processes.
I look forward to receiving your detailed response and the requested supporting documentation.
sL
sebastian L's update20 Aug 2026, 11:47
Reviewer Update
My understanding is that I have a 12-month revolving credit facility with FinChoice. However, each time I make a further purchase, it appears that FinChoice opens a new account number and closes the previous account, even though the previous account/balance has not been paid in full and my underlying credit relationship with FinChoice remains ongoing.
This practice is causing serious concern because the credit bureaus appear to be receiving a history of multiple accounts being opened and then closed, despite the fact that I have not necessarily settled the underlying indebtedness and am continuing to use the same revolving credit facility.
My Experian credit score recently decreased by approximately 33 points, from 611 to 578. ClearScore indicated that the decrease was associated with the recent closure of FinChoice accounts.
I therefore require FinChoice to investigate whether the manner in which these accounts are being reported accurately reflects my actual credit relationship and outstanding indebtedness.
1. Explanation of the account structure
Please provide a clear written explanation of the following:
If my FinChoice facility is a revolving 12-month credit facility, why is a new credit account being opened and the previous account being reported as closed every time I make another purchase, particularly where the previous balance has not been paid in full?
Please confirm whether the "closure" of each previous account means:
- The credit agreement was genuinely terminated;
- The outstanding balance was fully settled;
- The indebtedness was transferred to another account;
- The account was merely administratively closed in FinChoice's internal system; or
- A new transaction/account was created while the underlying revolving credit relationship remained active.
This distinction is extremely important because reporting an account as "closed" may give the credit bureau and other users of my credit report the impression that the associated credit relationship and indebtedness had been settled or terminated, when that may not be the case.
2. Credit-bureau reporting
I request confirmation of exactly how FinChoice reports these transactions to each credit bureau.
For every account reported in my name, please provide:
- Account number;
- Date opened;
- Date closed;
- Original amount/credit limit;
- Amount advanced;
- Outstanding balance at closure;
- Current outstanding balance;
- Payment history;
- Account status reported to the bureau;
- Date the information was submitted; and
- The reason for reporting the account as closed.
Please also confirm whether the account is reported as a revolving credit facility, instalment agreement, short-term credit agreement or another category.
3. Supporting documentation
Please provide copies of the relevant:
- Credit agreements;
- Applications;
- Terms and conditions;
- Account statements;
- Transaction records;
- Account-opening records;
- Account-closure records; and
- Any other documentation re**** upon when reporting these accounts to the credit bureaus.
I specifically request documentary evidence supporting the reported closure of each account, including evidence showing whether the associated balance was actually settled at the time the account was reported as closed.
4. Accuracy of the information reported
I formally dispute any information that suggests that an account was fully settled or that a credit relationship was terminated where the underlying balance remained outstanding or where I continued to use the same revolving credit facility.
I request that FinChoice investigate whether the current reporting is:
- Accurate;
- Complete;
- Correctly classified;
- Non-duplicative;
- Consistent with the actual credit agreement;
- Consistent with the actual outstanding balances; and
- An accurate representation of my credit relationship with FinChoice.
If FinChoice's internal system closes one account number and creates another for administrative purposes, I require FinChoice to explain why this should be represented to the credit bureaus as multiple separate credit accounts rather than as activity occurring under an ongoing revolving credit facility.
5. Impact on my credit profile
I am particularly concerned that repeatedly reporting accounts as newly opened and subsequently closed may create an artificially adverse representation of my credit history and may negatively affect my credit score.
My credit score has already decreased by approximately 33 points, from approximately 611 to 578, and the information available to me indicates that the recent FinChoice account closures contributed to this decrease.
I am not asking FinChoice to remove accurate information merely because it has affected my credit score.
Rather, I am requesting that FinChoice establish that each account and every item of information reported against me is accurate, properly classified, non-duplicative and supported by credible documentary evidence.
Where the reporting does not accurately reflect my actual credit relationship, I request that the information be corrected.
6. Correction of inaccurate information
If your investigation establishes that any account has been:
- Incorrectly reported as closed;
- Incorrectly classified;
- Duplicated;
- Reported with an incorrect balance;
- Reported with incorrect opening or closing dates;
- Reported as settled when it was not settled; or
- Otherwise inaccurately or misleadingly reported,
I request that FinChoice correct the information and notify all relevant credit bureaus of the correction.
Please provide written confirmation of the corrections submitted, including the date of submission and the specific information that was corrected.
7. Formal access and correction request
I also exercise my rights to request access to and correction of personal information held and processed about me.
Please provide me with all personal and credit-related information held by FinChoice that is relevant to this complaint, including the records used to determine what information was submitted to the credit bureaus.
Where information is found to be inaccurate, incomplete or improperly recorded, I request that it be corrected in accordance with the applicable legislation.
8. Substantive response required
Please do not respond merely by stating that the accounts are "correct" or that the account numbers relate to individual transactions.
I require FinChoice to specifically answer the central question:
Why are accounts being reported as closed when the previous balance has not been fully paid and I remain in an ongoing revolving credit relationship with FinChoice?
If FinChoice maintains that this reporting is correct, please provide the contractual, regulatory and documentary basis for that position and explain how the reporting accurately represents my actual outstanding indebtedness and ongoing revolving credit facility.
Please treat this correspondence as a formal complaint and formal request for access to and correction of my personal information.
Please confirm receipt of this complaint and provide me with a formal complaint/reference number.
I request a substantive written response addressing each of the issues raised above.
If this matter is not satisfactorily resolved, I reserve all my rights to escalate the matter through the relevant credit-bureau dispute process and, where appropriate, to the National Credit Regulator, Information Regulator, Credit Ombud and/or other applicable dispute-resolution or tribunal processes.
I look forward to receiving your detailed response and the requested supporting documentation.
sL
sebastian L's updateReviewer Update
26 Aug 2026, 10:41Finchoice requested my credit report on the 21st to investigate until date no feedback and no removal on my credit report
sL
sebastian L's update26 Aug 2026, 10:41
Reviewer Update
Finchoice requested my credit report on the 21st to investigate until date no feedback and no removal on my credit report