NEDBANK LEAVES ME IN THE COLD

I am a holder of the American Express Gold Card which I obtained while I was still employed. Due to unforeseen circumstances, I retired earlier than I had planned at age 63 in 2017 and have been pursuing some business interests to make up for my shortfall on the retirement package. However, due to conniving circumstances, the Covid19 pandemic hit the country in March 2019 killing all efforts and planning that I had put into place for my training and development company. I have always maintained a clean and stable credit record on the American Express Card and always settled for the minimum monthly payment required. I have always maintained a minimum payment of R3,000 per month to Nedbank, but when they suspended my credit facility in October, I resorted to the payment of R1,500 per month. Sometime in January, one of their Consultants proposed that I make a payment of R5,000 by the 31st January 2022, after which I can again gain access to the use of my Card. I did make all the sacrifices and paid in the amount of R5,000 as promised. After several calls of enquiry to Nedbank, there is no access to the use of the Card as promised. However, towards the end of October 2021, the bank increased the minimum monthly payment threefold and as at the end of January 2022, a full amount in excess of R160,000 is said to be due. I currently receive 2 to 3 calls almost weekly from Nedbank Agents that promise to sort my account out but nothing has materialized thus far. I am not sure why Nedbank decided to unilaterally resort to the recall of the facility, if it is a recall, without my engagement. I am a Pensioner a really need a deal that I can afford until there is extra income coming my way.