Credit Card Approved Without Interest Rate Disclosure - Multiple Unnecessary Credit Enquiries

Credit Card Approved Without Interest Rate Disclosure – Multiple Unnecessary Credit Enquiries I contacted Nedbank on 15 December 2025 to enquire about a credit balance transfer from my ABSA credit card. Several consultants were unable to assist and appeared unfami**** with balance transfers so I requested to apply for a new credit card. I was eventually helped by a consultant who ran indicative quotes on different credit cards so I could compare interest rates, as my goal was to reduce debt ahead of a planned home loan application.

I was never informed that each quote/application — even those done minutes apart — would result in a separate credit bureau enquiry. As a result, four enquiries were logged on my credit profile within a very short space of time, despite no change in my credit circumstances. Due to the number of applications the fourth application had to be manually reviewed.

On 18 December, I was advised that my application had been reviewed, but I could not access the Nedbank Money App or Online Banking due to server errors. A technical support consultant then asked me to complete a DebiCheck mandate, explicitly stating it was required just to view the interest rate. I made it very clear that I would only proceed if the interest rate was acceptable. The consultant stated that he will email the details to me to confirm and approve.

Shortly thereafter, I was informed that a credit card had already been approved and accepted on my behalf, with a reduced limit, without any interest rate ever being disclosed and without my informed consent. The contract emailed to me contained no interest rate or fee disclosure.

Another Nedbank consultant later confirmed that the application had been handled incorrectly and that I should not have been asked to complete the DebiCheck. Internal communication then broke down, and I was unable to get clarity on the interest rate or next steps. Requests for escalation have, to date, not been resolved.

Impact:

Multiple unnecessary credit enquiries logged

Damage to an excellent credit score

Potential negative impact on a future home loan

An application progressed without proper disclosure or consent

I am extremely disappointed with the lack of transparency, poor internal coordination, and the financial prejudice this has caused. I am seeking urgent correction of my credit profile, cancellation of any unauthorised approval, and a clear resolution from Nedbank.