How the TFG group is milking you!

Beware if you a TFG account holder!!!!

Are you an account holder making purchases on a 6 month interest free account?

( Markham, Forchini, Duesouth, American Swiss, @home, @home living space, Total sports, Exact, Sterns, Exact, hi, Total Sports, Sportscene, Soda Bloc, Mat & May, Fabiani, Donna, Collette, Charles & Keith, Archive)

How do they get away with charging you interest on a 6 month interest free account even when your account is not in arrears.

Well let me explain....they send out their emailed statements to you on the 15th of each month and expect you to pay the installment before the 1st of each month.... so the time from the statement to the 1st are interest free (15-16 days) otherwise they charge you interest if you make a payment after the 1st .

If they send out the statement on the 15th April, surely you would think you have until the 14th May to make the payment interest free..... that's within the 30 day statement period. This i'm afraid is not the case, one needs to pay by the 1st if you want to benefit from the interest-free account. If you pay on the 2nd you are hit with interest.

The interest charged on your statement will depend on the outstanding balance so that can vary, mine was a small amount of R20, its really not about the money its the principal and ethics of large company like TFG that is making millions of rands from us all without us really noticing.

Just think of that for a minute..... take R10 in interest from 1 million of their customers each month, that's a nice 10 million rand that they making from their good standing customers( I say good standing customers as these are people that actually pay their account each and every month even though it might only be by the 3rd or 4th of each month). Alot of these people are not even aware that they are being charged interest.

I'm really dissapointed with TFG and have decided to close my account. You will never see another cent from me again!