Nedbank
No interest on credit card credit balance

For those of you thinking of taking out a credit card with Nedbank and are responsible with your money, no matter how large your credit balance you will not receive a cent in interest until it reaches R10 million. I was using mine to save for upcoming dental treatment and was threatened with cancellation as I was not using it for the required purpose of getting into debt. I asked how they could cancel a card when there was a credit balance on it and questioned why I was not in fact getting interest - as other banks do, I received a very patronising email from Mr Manicus informing me that the terms and conditions mentions the bank "may" give interest, but in fact only on credit balances of over R10 million.

Company: Nedbank
Country: South Africa
City: Bramfontein card division

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