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Account Opening - Customer Services

Account Opening

TRUWORTHS CREDIT APPLICATION TERMS & CONDITIONS

This agreement is subject to the Retail Credit Terms and Conditions which accompany this agreement and the references to clauses in this agreement are references to clauses in the Retail Credit Terms and Conditions. Before signing this Agreement please read the Retail Credit Terms and Conditions.
Credit Limit: Your credit limit will be the amount determined by us from time to time and notified to you.
Repayments: Each month you must pay to us at least the minimum repayment, which is the total interest and administration charge together with a percentage of the principal amount outstanding shown on your monthly statement. The minimum repayments are as indicated per the schemes below. You must pay the relevant amount to us by the end of the calendar month in which the repayment is due. The amount of the minimum repayment and the repayment date will be sent to you by SMS and email, (where available).
Interest and Charges: Our charges for services in relation to the schemes are:

6 months fixed repayment period 12 months fixed repayment period
No interest charged on account except on accounts in arrears which are charged interest of 5% on the monthend balance. Interest of 2% is charged monthly at month end on the monthend account balance with arrears accounts attracting interest at 5% per month on the full balance.
Minimum installment amount is $10. If the account balance is less than $10, then the balance becomes payable Minimum installment amount is $10. If the account balance is less than $10, then the balance becomes payable
Credit Card Flexible
1. Interest of 1.5% is charged monthly on the current balance shown as outstanding on your account at close of business on the last calendar day of each month.
2. A service charge of 0.5% is charged monthly on the current balance after the 1.5% interest has been added to the balance shown as outstanding on your account at close of business on the last calendar day of each month.
3. The minimum monthly payment shall be the greater of $5 or a value calculated as 3% of the capital balance shown as outstanding on your account at close of business on the last calendar day of each month plus all interest, Service and Late Payment Charges applied during the preceding month.
4. A penalty charge of $15 will be levied on any Accounts which remain unpaid at close of business on the last calendar day of each month in which the payment is due.
5. Any taxes that apply as mandated by tax authorities.

Interest is charged from the last day of each calendar month based on the closing current balance of the account. You may repay in full the current balance as outstanding by the close of business on the last calendar day of the month in which case no interest will be charged in relation to the current balance on purchases. You may make repayments that are greater than the minimum repayment at your discretion. Changes to interest and charges: we may vary (or introduce) any interest rates, charges or fees at our discretion and upon written notice to you at any time in accordance with Clause 8 of the Retail Credit Terms and Conditions. Sign only if you want to be legally bound by the terms of this Agreement and the terms contained in the Retail Credit Terms and Conditions.

IMPORTANT – USE OF YOUR INFORMATION
If false or inaccurate information is provided and fraud is identified, details will be passed to fraud prevention agencies to prevent fraud and money laundering. We, members of the Truworths Group, members of the CABS Group and other organizations approved by Truworths and or CABS (which may include insurance companies) would like to share information about you to enable us to keep you informed about special offers, products, services and promotions available from us. You agree that in order to determine which products or services may be of interest to you, information about you and the conduct of your account may be analysed, including your purchases, other transactions and payment record. By completing this application you will be consenting to the use of your information.