ACCOUNT APPLICATION DECLINED

When shopping online with Takealot and Loot, they offer you the option to pay off products with Mobicred and it is the same as in ISA (instalment sale agreement). You are even able to complete an online application, which wasn't too time consuming.

Only problem was that my application was declined, much to my disbelief. So I sent an email to customer services and am still awaiting a reply from them two days later. I decided to give them a call to find out why they declined my application and I was told that I didn't reach the required score with the credit bureau.

This just doesn't make sense as I have many different accounts, a bond, car finance and an excellent rating with my bank. I also have never been declined credit anywhere. I was told there was nothing I could do except re-apply in six months time. By then, the items that I wish to purchase will be out of stock or sold out!

I'm still shaking my head and if this happened to someone who earns an above average salary, has multiple investments, manages to put away money every month and has an excellent credit record then good luck to the next person trying to open an account with Mobicred. What a waste of my precious time!