Store Credit Accounts South Africa
Compare retail store accounts from Edgars, Mr Price, Woolworths, Makro, and more. Understand interest rates, limits, and your consumer rights under the NCA.
SA Retail Store Accounts Compared
Data is indicative. Check with each retailer for current terms. NCA applies to all products listed.
| Retailer | Interest Rate | Credit Limit | Products For | Perks | Min. Income |
|---|---|---|---|---|---|
Edgars / TFG (Foschini Group) Edgars Account / TFG Account | Up to 24.99% p.a. | R500–R50,000+ | Fashion, homeware, electronics | Birthday discount, exclusive deals | R1,500/month |
Mr Price Group Mr Price Money Account | Up to 24.99% p.a. | R500–R30,000 | Clothing, home, sport | Loyalty programme, monthly discounts | R1,500/month |
Woolworths Woolworths Credit Card | Prime + 3%–8% | Up to R100,000 | Food, clothing, homeware | WRewards points, store discounts | R5,000/month |
Makro / Game (Massmart) Makro Account / Credit Card | Prime + 6% | R1,000–R50,000 | Electronics, appliances, groceries | Cashback on bulk purchases | R3,000/month |
Builders Warehouse Builders Credit Card | Prime + 6% | R2,000–R100,000 | Hardware, building materials, tools | Contractor account available | R5,000/month |
Pros and Cons of Store Credit
Benefits
- ✓Fast approval — often same-day in-store
- ✓Buy big-ticket items immediately and pay over time
- ✓Build credit history with responsible use
- ✓Often includes extended warranty or insurance
- ✓Instalment plans (3, 6, 12, 24 months) available
Drawbacks
- ✗Typically higher interest than bank credit cards
- ✗Can only be used at affiliated stores
- ✗Easy to overspend — temptation to buy more than needed
- ✗Late payment fees add up quickly
- ✗Store closure or restructuring can affect account
Your NCA Consumer Rights
- • Retailers must disclose the total cost of credit before signing
- • You have the right to a pre-agreement statement and quotation
- • You can settle the account early without penalty
- • Complaints can be logged with the National Credit Regulator (NCR): 0860 627 627
Frequently Asked Questions
Is store credit regulated in South Africa?
Yes. All store credit products issued by registered credit providers are regulated by the National Credit Act (NCA). This means providers must perform affordability assessments and disclose all costs upfront.
What is the interest rate on store credit accounts in South Africa?
Store account interest rates vary but many charge close to the NCA maximum of 24.99% p.a. (for unsecured credit). Premium store cards linked to Visa/Mastercard may charge lower rates.
Can a store account build my credit score?
Yes. Consistent on-time payments on a store account are reported to credit bureaus (TransUnion, Experian, etc.) and can positively impact your credit score over time.
What happens if I miss a store account payment?
You will be charged a late payment fee. If you continue to miss payments, the retailer may hand over the account to a debt collection agency, which will negatively affect your credit record.
Need a Better Credit Option?
Bank loans often offer lower interest rates than retail store accounts. Compare all credit options side-by-side.
Offer store credit to your customers
Get matched with SA store credit providers — branded credit options, loyalty programs. Free to enquire.
Download the Finance EzyFind App
