FNB Temp Loan - Credit Reporting

I have been a loyal client of FNB for years now, and honestly, I have been happy with everything. I have never had to complain about anything, as their products and services are always reliable and their customer service is exceptional.

Because of my relationship with the bank, the bank offered me a Temp Loan on the Banking App. Taking that offer as an opportunity to grow my relationship with the bank even further whilst also improving my credit history, I took the offer twice. On both occassions the loans were settled at least 10 days before they were due. This was as I have mentioned a means to improve my credit history.

To my surprise, even after settling the loans on time, my score dropped from 601 to 550. I called the credit bureau and they advised that even though the accounts are settled and closed, they still reflect on my credit report and as such will continue to negatively affect me. The only people who can fix that is FNB by removing the information.

The FNB Temp Loan is a good product for the Bank as it improves the relationship of the bank with its clients. But if not properly managed will also be the reason that same relationship is compromised. This is a one month loan, the Bank should be helping its clients build a good credit history not be the reason its bad. I held my side of the bargain and settled the loans way before they were due. The Bank can play its part and remove the information negatively affecting me without cause.

I hope as always that I'll get a positive response from FNB.