Today we decided that since we had almost paid off our revolving credit account now was the time to use it as planned... for some home improvements. BUT we now discover that the account isn't revolving credit at all - how can it be when you can only draw 5% of the balance? Thats NOT revolving credit - thats pathetic. We took a R25, 000 revolving credit account - what the does someone do with R1100? We've paid this account for 33 months (R21, 417) but today we're told to settle this account will cost us R23, 292 - that is and nearly 100% interest. We were completely conned into this loan which was originally to be a bridging loan when we bought our property and moved (incidentally you STILL don't even have the new address even though you did the paperwork! (4 goes to do the RICA even though personnel came to the property and did an affidavit) - this is totally DISGUSTING and not only did you nearly stuff up the move, we applied for an access bond and got a straight repayment - in fact everything about Std Bank has been a terrible experience! We want the loan reversed and somewhere NOT to be paying 100% interest!
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