I was contacted by a telemarketer last 2011 selling the Diner's Club credit card with the key sales feature being access to an overdraft with no interest, I clarified this point with the sales agent and decided to join only to discover that Diner's Club charges 2% interest a month (R141.30 on an outstanding account of R6932.44) and in addition I was charged an annual subscription of R805.99 which I am sure was not disclosed during the call.
I took this up with Diner's Club and requested a copy of my call recording which they wouldn't send me and although based on my complaint they did reverse the interest, I wonder how many other people have been duped in this way and how many people actually study their statements and are aware of the interest they are being charged. Needless to say I closed my account.
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