MOBICRED FAQ’S

mobicred is a SIMPLE & CONVENIENT credit facility that allows you to SAFELY shop online at all participating retailers that offer the mobicred payment option.

SIMPLE
One time, easy & quick online application process requiring minimal information. Instant application response.

CONVENIENT
Access to all participating mobicred retail partners giving you the freedom to buy more online.

SAFE
mobicred customer authentication providing secure use of your credit facility at approved online retail partners.
Access, manage & control your account online via your mobile phone.

How do I apply for a mobicred account?

You can apply directly via the mobicred website by clicking here.

What do I need to ensure when applying for a mobicred account?

You need to have a valid South African ID number, be at least 18 years of age, earn a minimum monthly salary of R5500, have an existing valid bank account, a valid email address and a RICA’d mobile number. You will need to submit 3 months most recent bank statements or payslips.

Can my application be declined?

Yes, approval of your application is subject to mobicred’s credit risk & affordability criteria, and in accordance with the National Credit Act responsible lending principles. If, for whatever reason, your application is declined, mobicred will inform you as to the main reasons for being declined.

How do I buy with mobicred?

Simply select mobicred as a payment option within the checkout process.

What is the interest rate charged on my purchases?

The interest rate charged is 20.75% per annum & in accordance with the interest rate permissible by the National Credit Act.

Will interest rate fluctuations affect my repayments/current interest rate?

The interest rate on your account is an annual variable rate linked to the Repo Rate and will change in accordance with changes made by the South African Reserve Bank.

What is an initiation fee?

This is a fee for the opening & initiation of your agreement & mobicred account.

What is a monthly service fee?

This is a monthly charge for the monthly administration & maintenance of your mobicred account, including statements and all ad-hoc correspondence.

What is a late payment fee?

This is a fee that is charged to accounts which are one or more payments in arrears.

What is a debit order rejection fee?

This is a fee charged for debit orders that have been returned unsuccessful by your bank due to, for example, insufficient funds.

How do I pay my account?

Monthly instalments, as reflected in the mobicred statement, will be deducted via Debit Order.

How often will I receive my statement?

You statement will be send to you monthly via email.

What do I do if I am not receiving my statements?

Please contact mobicred via email at customerservice@mobicred.co.za or on 08600MCRED(62733) to assist you with receiving your statements.

What do I need to do if my debit order details have changed?

You may change your banking details on the mobicred web site yourself, or contact mobicred via email at customerservice@mobicred.co.za or on 08600MCRED(62733) to assist you.

What do I need to do if my personal & contact information has changed?

You may change your personal & contact details on the mobicred web site yourself, or contact mobicred via email at customerservice@mobicred.co.za or on 08600MCRED(62733) to assist you.