Apply For Credit South Africa : Red Square

Name of the Organization : Red Square
Type of Facility : Apply For Credit
Country : South Africa

Official Website : http://www.redsquare.co.za/

Apply For Credit :

Please select your country and click Continue to start your account application. Once you submit your application, we will contact you within 48 hours.

Related : Red Square Order Online South Africa : www.statusin.org/4916.html

Start Here : https://fsp.edcon.co.za/en-ZA/Home/ExtEdgars

Terms and Conditions :

1. Grant of a credit facility :
1.1 Your application for a credit facility is subject to our credit assessment, approval criteria and conditions being satisfied. We have the discretion based on these criteria to decline or approve your application or we may offer you a different plan from the plan you selected on your application. We reserve the right to grant or refuse to grant you credit from time to time.
1.2. You agree to accept the credit facility we offer in the quotation. The quotation forms part of this agreement once we have accepted your application and you have signed and accepted the quotation.
1.3 We agree to grant the credit facility to you on the terms and conditions of this agreement.
1.4 We also agree to issue your card to you, which you can use on the terms and conditions of this agreement.

2. Cost of credit and payment plan :
2.1. The quotation sets out the total cost of the credit facility and it is important for you to note that :
2.1.1. the credit limit reflected in the quotation is the maximum amount made available to you under this revolving credit facility at this time;
2.1.2. each instalment reflects the minimum amount of each instalment required in terms of our agreement with you, on the assumption that you use the total credit limit on the first (1st) day of this agreement;
2.1.3. the total of all instalments is calculated based on the assumption that you will have repaid this credit facility within the period indicated in the quotation.
2.2. We will give or send you a card that will be used for purchases utilising your agreed credit limit and within your agreed payment plan.
2.3. You may use your card to make purchases of goods and services on the various payment plans available and applicable to such purchases subject to the terms and conditions of this agreement.

3. Contact details
3.1 Please take note of the following contact details :
3.1.1 Contact centre : Edgars 0860 112 442/Jet 0860 113 639;
3.1.2 Reporting of a lost/stolen card : Edgars 0860 112 442/Jet 0860 113 639;
3.1.3 National Credit Regulator : 0860 627 627 or 0860 NCR NCR;
3.1.4 National Consumer Tribunal : 012 394 1450;
3.1.5. Banking Ombudsman 0860 800 900 (only if we are a bank); and
3.1.6 Credit bureau(s) : ITC Transunion 0861 482 482; XDS 011 645 9100 and Experian 0861 10 56 65.

4. How to interpret this agreement :
4.1 In this agreement, the words on the left have the meanings set out on the right unless the context clearly shows that the parties intended a different meaning :
4.1.1 Agreement means this document, including the application, pre-agreement statement and quotation, and all written notices we send to you in accordance with the NCA from time to time.
4.1.2 Application means your application for the card and credit facility which preceded this agreement.
4.1.3 Business day means any day which is not a Saturday, Sunday or South African public holiday.
4.1.4 Card means the card and secondary card(s) that we issue to you and secondary cardholder(s) (as the case may be) on the terms and conditions of this agreement.
4.1.5 Card account means the account opened in your name in our books and linked to your card and to cards issued to secondary cardholders.
4.1.6 Chargeback means a transaction that is reversed because you have successfully disputed the transaction.
4.1.7 Credit facility means the revolving credit facility we offer to you on the terms and conditions of this agreement.
4.1.8 Credit limit means the maximum amount made available to you in terms of this credit facility (being the credit limit specified in the quotation) or any changes to this limit from time to time.
4.1.9 Credit Provider means the entity reflected as such on your Pre-agreement statement and quote
4.1.10 Deferred amount at any time means the amount we calculate in terms of clause 9 at that time.
4.1.10 Initiation fee means the fee we may charge you when you sign this agreement to cover our costs at the start of this agreement if not paid upfront.
4.1.11 NCA means the National Credit Act 34 of 2005 and its regulations, as amended or replaced from time to time.
4.1.12 Principal debt means the amount of the principal debt referred to in the quotation.
4.1.13 Quotation means the pre-agreement statement and quotation which is attached to this agreement.
4.1.14 Reference rate means the repurchase rate charged by the SA Reserve Bank, from time to time.
4.1.15 Secondary cardholder means any person to whom we issue a secondary card in accordance with your instructions contained in the application.
4.1.16 Service fee means the fee we may charge you on a monthly or other regular basis to cover our costs of administering this agreement.
4.1.17 Supplier means the person from whom you purchase goods and services using your card.
4.1.18 VAT means value-added tax payable under the Value Added Tax Act 89 of 1991. card account4.2 Reference to :
4.2.1 one gender includes the other gender;
4.2.2 the singular form of a word includes the plural;
4.2.3 the plural form of a word includes the singular;
4.2.4 a law or regulation is a reference to that law or regulation on the date you sign this agreement.
4.3 In the event of a conflict between the provisions of the quotation and those of this document, the provisions of the quotation apply.
4.4 This agreement is subject to the NCA and all other applicable legislation from time to time. If any provision of this agreement conflicts with any provisions of the NCA, the provisions of the NCA apply.
4.5 Where we are required to exercise discretion under this agreement, we will exercise our discretion in a reasonable manner.

5. Principal debt :
5.1 You understand that :
5.1.1 every purchase of goods and services you have authorised on your card account will form part of the principal debt on which we will charge you interest; and
5.1.2 you must pay all amounts debited to the card account in terms of this agreement together with interest thereon to us in the manner set out in this agreement.

6. Validity of your card :
6.1 You must sign your card using a ballpoint pen on the signature panel (being the space provided for signature on the reverse side of the card) as soon as you receive your card.
6.2 Only you can use your card. You cannot transfer your card to any other person or allow/authorise any other person to use your card.

7. Use of your card :
7.1 When you use your card to purchase goods and services, you must sign a sales voucher.
7.2 We may debit your card account with all transactions presented to us unless it can be proved that you did not authorise the supplier to process the card transaction concerned.

8. Interest :
8.1. Agreed rate :
8.1. Your card account has a variable interest rate, meaning that the agreed interest rate applicable to the payment plan on your card account facility will vary from time to time directly in accordance with changes in the applicable reference rate.
8.1.2. Within 30 business days after any such variation takes effect, we will inform you in writing of the variation.
8.1.3. Unless the agreed interest rate is reduced in the manner described below, interest will be charged on the payment plan applicable to your credit facility at the maximum rate applicable from time to time in terms of the NCA, or any re-enactment or replacement thereof and disclosed in your statement.
8.1.4 Interest is calculated on a daily basis on the daily closing balance of your card account. The daily interest so determined is aggregated for the period between the dates of the previous and current billings and added to the balance owing by you in terms of the credit facility on the date of current billing.

8.2. Reference rate :
8.2.1. In respect of transactions on your card account, we have selected the maximum interest rate prescribed by the NCA for credit facilities as the rate for purposes of determining the agreed interest rate applicable to your card account.
8.2.2 The NCA currently stipulates the maximum interest rate that may be charged is as follows : the reference rate (meaning the repurchase rate charged by the SA Reserve Bank, from time to time) multiplied by 2.2 per annum plus 10 percentage points.

8.3. Default interest :
8.3.1 Interest is calculated on the daily balance owing on your card account from time to time. You can minimise the amount of interest charged to your credit facility by making your total payment due (i.e. the monthly instalment) in full by the payment date as specified on your statement.
8.3.2 If you do not make such payment by such due date, default penalty interest will be charged in accordance with the NCA and your card account will be in arrears and you will therefore be in default of this agreement. The interest rate applicable while you are in default of, or have overdue payments under, this agreement be will the maximum interest rate that is prescribed in the NCA.

8.4. Discounted interest :
8.4.1 Interest may be discounted ( i.e. reduced) on your credit facility at our discretion or if you are on a discounted interest payment plan. The waiving of interest is solely at our discretion and should you not pay the amount due, or pay a lesser amount than the amount due, to us by the payment due date, we reserve the right to terminate the discounted interest rate and in future to continue charging you interest on your card account in accordance with the preceding provision of clause 8 (and not this clause 8.4) despite the card account being brought up to date and it being a plan in terms of which interest is ordinarily discounted.
8.4.2 However, should you not pay the amount due, or pay a lesser amount than the amount due, to us by the payment due date, interest will be charged as stipulated in clause 8.3.2.

9. How we calculate the deferred amount :
9.1 The deferred amount is the amount that you owe us under this agreement at any point in time and which you must repay to us. Interest is calculated on the deferred amount. The deferred amount may include the :
9.1.1 credit advanced;
9.1.2 interest;
9.1.3 fees and charges as set out in the quotation;
9.1.4 default administration charges (if relevant to this agreement); and
9.1.5 collection costs (if relevant to this agreement).
9.2 The deferred amount will be reduced by all amounts you pay to us to settle the principal debt or which we credit to your card account.

10. Credit limit :
10.1 You cannot buy any goods and services with your card if to do so means that you will exceed the credit limit.
10.2 You are responsible for managing your purchases within the credit limit.
10.3 If we accept a transaction that results in you exceeding the credit limit, it does not mean that we have extended or increased the credit limit on any permanent basis, but rather that we have allowed a temporary excess by way of indulgence only, at your special instance and request. You are obliged to immediately bring your card account in line with the agreed credit limit. You will be liable for payment of the full amount by which you exceed the credit limit.