MAKRO CREDIT
<p>DO NOT TRUST what you are told at the till when buying on credit at MAKRO (In this case Arbour Crossing, Amanzimtoti). At the till in February and April hey asked me over what period I wanted to pay back the money and I said 12 months. Now 9 months later I realised that the account has hardly been dented! They take off a MINIMAL amount on the debit order, in my case R190.80......and then add R102 pm in interest, fees and insurance to your account! aCCORDING TO THEM IT IS SUDDENLY "REVOLVING CREDIT". iT SHOULD BE NAMED "revolting credit from makro!) I will close my account and NEVER shop there again. It is WRONG to delay a customer`s debt so you can "*****" their money!!</p>
We herewith acknowledge receipt of your enquiry and would like to advise the following.
We only offer a revolving, 24 and 36 month repayment option and our annual interest rate is 21%
Please be advised that the repayment option is a revolving plan, not a 12 month plan. When you purchase on revolving then every purchase you make is added together as one outstanding balance and the installment is calculated at 7.5% of the balance every month. As your revolving balance decreases/increases the installment decrease/increase.
Monthly Service Fee means a fee, charged at the discretion of RCS which is debited to your card account either monthly or annually for the administration of your account.
Interest is calculated on a daily basis and charged to your account monthly, therefore if you settle sooner then you will only pay interest for that specific period until you settle.
Customer Protection insurance will be optional only if the customer can provide us with proof of sufficient cover.
Once off initiation fee of R75.00 will be charged to the account.
Should you have any additional enquiries please do not hesitate to contact our Customer Service Department telephonically on *** or via e-mail ***
We herewith acknowledge receipt of your enquiry and would like to advise the following.
We only offer a revolving, 24 and 36 month repayment option and our annual interest rate is 21%
Please be advised that the repayment option is a revolving plan, not a 12 month plan. When you purchase on revolving then every purchase you make is added together as one outstanding balance and the installment is calculated at 7.5% of the balance every month. As your revolving balance decreases/increases the installment decrease/increase.
Monthly Service Fee means a fee, charged at the discretion of RCS which is debited to your card account either monthly or annually for the administration of your account.
Interest is calculated on a daily basis and charged to your account monthly, therefore if you settle sooner then you will only pay interest for that specific period until you settle.
Customer Protection insurance will be optional only if the customer can provide us with proof of sufficient cover.
Once off initiation fee of R75.00 will be charged to the account.
Should you have any additional enquiries please do not hesitate to contact our Customer Service Department telephonically on *** or via e-mail ***