Kulula credit card quotation

kulula.com credit card - issued, owned, financed and administered by FirstRand Bank Limited. an authorised financial services and registered credit provider. registered bank reg. no. 1929/001225/06. nca registration no. ncrcp20

when you want to go about getting credit on or after the 1st of june 2007 (good luck), coz now we have to give you a pre-agreement. this contains the main features of the proposed agreement and a quotation of how much its gonna cost you, before entering into the real deal. the pre-agreement and quote are binding with kulula.com for five days, so if you want to shop around - you better do so...

Hereinafter the FirstRand Bank is referred to as "the bank / us /we / our"

Application Number:

11111111111111

Date:

12-04-2008

Scoring Decision:

Approved

Customer Unique Number:

22222222

Card Enquiries:

0860 MOOLAH (666524)

Fax:

011 352-0763

This document records your information as provided by you, the value added services and product options selected by you and the terms and conditions that govern the relationship between you and us, unless otherwise specified. Your application may be referred and will only be available once approved by us. Based on your enquiry and the information provided to us, we are pleased to provide you with a quotation/cost of credit in accordance with S92 & S93 of the NCA.

Name:

Mr John Doe

Home Telephone:

+27 021 0000000

ID Number:

1010101010101

Work Telephone:

+27 021 0000000

Residential Address:

10 Peanut Road

Cellular:

+27 082 0000000

Tweebokkefontein

Fax:

Not provided

Email Address:

me@mrsouthafrica.com

1010

Statement Option:

Email

Postal Address:

10 Peanut Road

Tweebokkefontein

1010

We contract with you at the maximum Annual Interest Rate permissible by the NCA (as publicly quoted from time to time by the National Credit Regulator). Interest is calculated based on the Repo Rate and will fluctuate accordingly. Interest will be calculated daily and compounded monthly in arrears.

Maximum Annual Interest Rate as per the NCA:

35.3%

Once-Off Initiation Fee:

R99.00(VAT incl.)

Annual Primary Card Service Fee:

R160.00(VAT incl.)

However, we are pleased to offer you a Personalised Upfront Rebate reflected below together with a quick overview of your Monthly Fees and Charges

Credit Limit:

R500.00

Minimum Monthly Repayment %:

5.0%

Personalised Upfront Rebate on Interest:

8.0%

Minimum Monthly Interest:

Rz

Personalised Interest Rate:

27.3%

Minimum Monthly Payment, including Interest, Fees and Insurance:

Ry

Total Amount Payable, including Interest and Fees over 12 months:

Rx

The following is an explanation of the Personalised Upfront Rebate on Interest Rate and Fees as reflected above:

Personalised Upfront Rebate on Interest and Personalised Interest Rate: The Bank offers you a Personalised Upfront Rebate on Debit Interest charged on your credit card at the Bank's discretion. The value of your Rebate depends on the management of your account. Your Personalised Upfront Rebate will remain the same unless you transact above your Credit Limit; Fail to pay by due date and/or Fail to pay:

• 3 or 4 times during a 6 month rolling cycle in which case, you will only receive 50% of your Personalised Upfront Rebate and/or

• 5 times or more during a 6 month rolling cycle in which case; you will not receive any Rebate.

Initiation Fee: Is a once-off fee charged in respect of the costs of entering into this credit agreement.

Minimum Monthly Payment and the Total Amount Payable: These amounts are calculated and based on the following assumptions:

1. that you use the total Credit Limit on day one without further purchases for a period of 12 months,

2. that you make a minimum monthly payment (which includes interest and fees), and

3. the full outstanding balance is repaid at the end of the 12 months.

Please note that if you do not use the Credit Card according to these assumptions, the Minimum Monthly Amount Payable and the Total Amount Payable amounts specified above will change. The Total Amount Payable is a twelve month view of your monthly payments. You owe the amount shown on your monthly statement.
NB: Related fees and charges for the ongoing use of the credit card can be found in the Pricing Schedule to the Card Terms and Conditions. (available on our website www.kulula.com, or by calling the kulula credit card call centre on 0860 MOOLAH (66524))

Affordability Confirmation:You confirm that we have given you an opportunity to provide all relevant information relating to your income and expenditure; that we have discussed with you whether you can afford the credit; and that you can afford the credit offered by us. You have applied for a kulula credit card on the basis that your household income is Ra

Marketing Consent:You give your consent to receive marketing information and that your personal details and address may be used by us, to offer and send you information on services and products

a. Credit Related Yes
b. Non-credit related Yes

Contact Medium:

Preferred method Email

Post No

SMS No

Email Yes

Telephone No ( 1)

Automatic Debit Order Details: You hereby authorize us to debit your account, as stated below with the Full amount due amount due on your kulula credit card account.

Banking Details:

Bank Name:

ABSA Bank

Branch Code:

632005

Account Number:

1023422341

Account Type:

Current Account

Please take note that in terms of your authorization the Full amount due will be deducted monthly, 25 days after your statement date, from the account specified above in respect of the amounts due on your Credit Card and is calculated as follows:

The Minimum Monthly Payment = Minimum payment is 5% (the Minimum Monthly Repayment percentage as stipulated on your quotation) of the outstanding balance plus any budget instalments

Total Amount Payable = Total Transactions, Plus Interest, Plus Fees.

1.You hereby authorise us to debit the account indicated above for the purposes of paying amounts owing by you on your kulula.com Credit Card account on a monthly basis.

2.You confirm that the account information as provided above is an account in your name and as such you have the right to give us the authority to debit such account on a monthly basis. Further, you will be liable for any claims, losses or damages of whatsoever nature arising out of debits made by us to the account as listed above should account have insufficient funds, be incorrect or held in the name of any other person.

3.You confirm that the account listed above is compliant with the Financial Intelligence Centre Act ("FICA").

I, the undersigned, hereby confirm that:

1.to the best of our knowledge and belief that the information provided to the Bank in respect of this quotation/ agreement is true, accurate and complete;

2.I am able to afford the repayments as set out herein;

3.the features and benefits of the account/s or product/s have been explained to me;

4.the way in which the account works has been explained to me;

5.the fees and charges for opening and operating the account(s) have been explained to us;

6.I have not applied for Debt Counselling and do not have an administration order or an order for provisional or final sequestration against my estate;

7.my spouse consents to me entering into this credit agreement;

8.I undertake to inform the Bank of any change to my information given.

This Quotation and Pre-agreement, once signed becomes a valid and binding Credit Agreement which becomes effective as at the date of acceptance of the Credit Card. You may, however, cancel this Credit Agreement within five (5) days of the date of this Quotation.


Signatures: Remember that pages 1and 2 need to be returned to the Bank and need to be initialled by the witnesses and the customer.

what do you want to do?

i wanna take up the offer

no thanks, not right now

i want to think about it (this may not exceed 5 working days)