pick n pay credit available

Pick n Pay Credit: Everything you need to know

Pick n Pay credit has launched. It promises consumers low interest rates and low fees. Here’s everything you need to know about then new initiative.

pick n pay credit available

Pick n Pay has announced that it will allow customers to purchase their groceries on credit.

Richard van Rensburg, Pick n Pay’s deputy CEO, said the store accounts have been designed to exclude hidden fees and to offer shoppers “the lowest possible monthly fee”.

“The high cost of credit is a significant reason why customers have less disposable income for their grocery shop. Hidden costs such as initiation fees, administration fees, mandatory insurance fees and penalty fees exacerbate the cost of credit,” he says. Pick n Pay will not earn income from the credit granting process, as “we have negotiated a great offer from the credit industry for our customers”.

Here’s everything you need to know.

How much will the interest be on Pick n Pay credit?

You’ll get up to 55 days interest-free credit if you pay the outstanding balance in full and on time each month. There’s also R200 off your first purchase of R500 or more.

How much credit can I get and how do I apply?

The amount of credit granted will be based on individual circumstances, with credit limits ranging from R1 000 to R40 000.

To apply, you can follow this link to the RCS form or Simply SMS* “PnP” to 30087. You can also physically apply in store by leaving your details at the Money Counter.

What are the fees for Pick n Pay Credit?

Transactions and coining fees are zero while the monthly service fee is R10. As for the Smart Shopper points, you’ll get bonus points when you pay your instalment. Pick n Pay are also offering free SMS notifications on all purchases for your security.

How do you join?

You can access the facility through your existing Smart Shopper card. You’ll need a PIN to make use of the credit, though. There are also up to three secondary cards for your family and friends.