Practise Philosophy

About us

TrueCred is a flexible microfinance company born and bred in the great city of Johannesburg. We are based in Johannesburg and provide credit to South Africans via the internet and mobile. We offer flexible loans that are structured to your needs and requirements. We do not want to decide how you borrow or how much you borrow. We will leave that decision up to you with our flexible borrowing structures. We have a limit of R8000 however, and a maximum term of 6 months. We are a registered Credit Provider, regulated by the National Credit Act 34 of 2005. We are also a member of the MicroFinance Association of South Africa.

Our Mission

Our mission is to solve customers’ infrequent, crucial and short-term cash flow glitches with an equally short-term answer. We base our promise to accountable lending on limpidity, elasticity and extreme selectivity. We want to offer credit in a way that benefits consumers, not moneylenders. TrueCred is taking a new approach to temporary credit. Not everybody functioning in this arena is doing so carefully, so we’d like to describe precisely what clients can expect when using our facility. These philosophies are in addition to our firm obedience to South Africa’s regulatory requirements under the National Credit Act, as well as the Consumer Protection Act.

Our Operational Philosophies

We will always display to you the entire cost of settlement very clearly and prominently before you apply. This calculation includes all potential costs involved, with no hidden fees or catches. This with the condition that all repayments are done on time. We also clearly explain the potential costs and penalties of late or non-payment. We won’t ever change the rate of interest or charge during the life of your loan. We will let you control exactly how much you want to borrow and then regulate the cost by deciding the package you want to go with (within distinct limitations). If you haven't used TrueCred before, we won't let you apply for more than R2500. We will regulate your immediate and future credit limit based on in-depth credit and status checks, including how responsibly you have used our service in the past. We use Credit Bureaus and all the publicly-available data at our disposal to safeguard against fraud and make the best probable loaning choices based on your situations at the point of the request. This includes proof of your disposable income and economic obligations. If you are declined, we will give you as much evidence as possible about the reasons why. We know your situations can change so, if you return to use our service again, we will base every verdict on a new appraisal of your credit-worthiness, keeping the right to decline future requests even if you have paid an earlier loan on time. Irrespective of whether you apply via the website or a cell phone, our checks will be just as rigorous. We abide by the word of the National Credit Regulator’s guidance on Debt Collection as outlined in Chapter 6 of the NCA 34 of 2005 and succeeding related guidance. We will only ever prolong the span of your loan term when requested to do so by you – and if we believe it to be in your best interests. We will plainly explain the extra cost of extending your loan, require you to considerably decrease the unpaid balance to do so and limit the number of times you can move your repayment date. We will never extend the term of your loan without your request or consent. You will always be encouraged to resolve your debt speedily – either on time or early. We will clearly tell you how much you could save. You can repay a loan early at any time and save money, paying only the interest accumulated up to that point. We do not charge early settlement fees and there are no catches. We will remind you of your responsibilities, the amount owed and the repayment date agreed during the course of your loan. We will automatically collect full repayment on the date agreed. We make it easy to contact us during office hours: via the website, email or phone. If you have a grievance or fear you will obtain an answer. If you are not content with our response you can appeal the choice by writing to us again, asserting your protests and providing any new data to be considered. We will answer to your grievance and attempt to resolve it within 48 working hours. If your grievance is predominantly complex it may take longer to examine. If you are not pleased with our reply you can petition the result by writing to us again, stating your protests and providing any new material to be considered. We are registered with the National Credit Regulator, so you can register a grievance with them if you have previously contacted us and feel we have not answered to your worries or resolved the matter justly: You can call the regulator on 0860 627 627, or send an email to [email protected] or if your complaint is related to debt therapy you can email [email protected]