⚠️ WARNING ABOUT RCS / GAME STORE CARD LOANS

I want to warn others about my experience with RCS (Game store cards) so people can think twice before taking out a loan or store card with them.

I have now had two separate experiences with RCS and both left me shocked at the interest and the way the balances barely reduce despite making payments.

Incident 1

Last year I bought a lawn mower on special for R3300. I didn’t have the cash upfront and decided to take a Game card through RCS.

That decision turned out to be a massive mistake.

Over about six months I paid around R2000 toward the account. When I finally had the funds to settle the balance, I asked for a settlement figure expecting a small remaining amount.

Instead, I was told the settlement amount was around R4000.

So after already paying roughly R2000, I was still expected to pay more than the original purchase price just to close the account.

I was completely shocked.

Yes, I understand that I should have read the fine print more carefully, but the level of interest and charges feels completely unreasonable and predatory, especially for a relatively small purchase.

Incident 2

The second situation is even more concerning.

My wife took out a larger loan with RCS before I knew she had used them.

In November last year we requested a settlement figure. Yesterday we requested another one again.

Between November and now my wife has been paying R5500 every single month.

That means over R20 000 has been paid in the last five months alone.

Yet when we asked for the new settlement amount, the balance had only decreased by about R2000 compared to the previous settlement figure.

Let that sink in.

More than R20 000 paid, but the loan balance dropped by only R2000.

We spoke to a senior consultant who tried to explain how the interest works, but the explanation simply did not make sense and the numbers do not add up in a way that feels fair or reasonable.

My Advice to Anyone Considering an RCS Loan

Please think very carefully before using RCS store cards or loans.

Even if you are desperate at the time, the long-term cost can be extremely painful and the balance can take an incredibly long time to come down.

Short-term relief can easily turn into years of expensive repayments.

I will be lodging a formal complaint with the Consumer Council / National Credit Regulator because I genuinely believe consumers should be better protected from these kinds of lending practices.

If this post helps even one person avoid getting trapped in the same situation, it will have been worth writing.

My honest advice: Rather endure short-term financial discomfort than enter into a loan that becomes a long-term burden.