Cancellation Mobicred: Easy Method

What is Mobicred

Overview

Mobicred is an online credit facility in South Africa that lets consumers buy goods and pay in instalments. It operates as a credit agreement rather than a subscription service.

How it works

You apply for a Mobicred account, receive a credit limit, and use that facility at participating merchants. Repayments and account management are handled via the Mobicred platform.

How to cancel Mobicred

Contacting Mobicred

• Contact Mobicred via their official channels and instruct them to close your account.
• Request a settlement amount for your outstanding balance as required under the National Credit Act.

Steps to complete cancellation

• Ask for your account closure and written confirmation of the settlement amount from Mobicred.
• Pay the settlement amount provided by Mobicred in full.
• Confirm processing and receipt of payment; request written confirmation that the account is closed.
• Keep proof of payment and Mobicred’s confirmation for your records.

What happens when you cancel

Access and account status

Once you request cancellation, Mobicred will calculate a settlement amount you must pay to close the account.

After Mobicred receives and processes the settlement payment, they should close your account and stop further debits.

Data and ongoing obligations

Mobicred may retain records of your account and transactions as required by law and their terms and conditions.

If you have outstanding disputes with merchants, those remain separate from the credit account and should be resolved with the merchant.

Will I get a refund?

Mobicred refund policy

Mobicred does not issue direct cash refunds to customers for purchases. Refunds from merchants must be paid to Mobicred.

When a merchant refund is received by Mobicred, it will be applied to your Mobicred account or credit limit.

Exceptions and consumer rights

• Consumer Protection Act rights apply to the goods or services bought from a merchant, not to the credit facility itself.
• If you were over-debited, raise the issue with Mobicred and keep proof of transactions; resolution may require coordination with the merchant and your bank.

Mobicred plans and pricing

Pricing availability

No public fixed pricing or plan tiers are published in Mobicred’s terms and conditions.

For specific fees, interest rates or charges, contact Mobicred directly as they are not listed in available public documentation.

How to get pricing details

Request the full schedule of fees and any applicable interest or service charges from Mobicred before applying or when closing your account.

Your consumer rights in South Africa

National Credit Act

Under the National Credit Act, Mobicred must provide a settlement amount if you terminate the credit agreement.

After you pay the settlement amount, Mobicred is required to close your account as set out in their terms and conditions.

Consumer Protection Act and escalation

• The Consumer Protection Act governs the goods or services purchased from merchants, not the credit facility itself.
• If you are unhappy with complaint handling, you may escalate to the National Credit Regulator or National Credit Tribunal.

Customer experiences

Summary of feedback

Public reviews show a predominance of negative experiences related to customer service and account administration.

There are few significant positive reviews on public review platforms.

Common issues reported

• Poor or delayed customer service responses and difficulty updating banking details.
• Incorrect debit order dates causing bank penalties and inconsistent settlement amounts.
• Reports that payments were not always reflected positively with credit bureaus.

For public reviews, see the Mobicred page on Trustpilot.

Documentation checklist

Before requesting cancellation

• Government-issued ID (copy).
• Recent Mobicred statements showing outstanding balance.
• Bank statements showing payments or debit orders, if disputing debits.

When completing closure

• Written confirmation of settlement amount from Mobicred.
• Proof of settlement payment (transaction receipt or bank confirmation).
• Written confirmation from Mobicred that the account is closed.

Common mistakes

Not obtaining written confirmation

Failing to get written settlement figures and closure confirmation can leave you exposed to future disputes.

Always request and keep written proof of the settlement amount and final account closure.

Assuming merchant and credit issues are the same

Confusing merchant refunds and returns with credit account closure causes delays; merchants must handle product refunds, which Mobicred then applies to your account.

If debit orders are incorrect, raise the issue immediately with Mobicred and your bank to limit bank fees and escalation timeframes.

Comparative recap

Quick comparison

The table below compares core characteristics of Mobicred with a typical credit card product to help you recap differences relevant to cancellation and refunds.

How to use this comparison

Use these points to decide whether Mobicred’s credit facility fits your needs versus other credit options.

After cancelling

Confirm closure and keep records

After payment of the settlement amount, ensure you receive written confirmation that your account is closed.

Retain receipts, settlement confirmations and all correspondence for at least the period required by law.

Where to get more information

Review Mobicred’s terms and conditions for details on settlement and closure: Mobicred terms & conditions.

To read public customer feedback, see the Mobicred Trustpilot page: Mobicred on Trustpilot.

Address

Physical address

34 3rd Avenue, Randburg, South Africa.

Using the address

Send formal correspondence or dispute letters to the physical address for records and escalation purposes.