For South Africans thinking about opening a Mr Price Money account, or who already have one and want to know how to pay, check a balance or get help.
In short: Mr Price Money is the Mr Price Group’s in-house store card. One account works online and in store at Mr Price, Mr Price Home, Mr Price Sport, Mr Price Cellular, Sheet Street and Miladys. You need to be over 18, employed, and able to show your latest three months of payslips or bank statements. The card charges interest at the maximum the National Credit Act allows, which is 21.25% a year at the current repo rate, plus a monthly service fee. Payment is due on the last day of each month and there is no debit order option.
What is Mr Price Money?
Mr Price Money is the financial services division of Mr Price Group Ltd, a registered credit provider (NCRCP46) and authorised financial services provider (FSP31450). Its main product is the store card, a revolving credit account you use to buy clothing, homeware, sports gear and cellular products, then repay in monthly instalments.
According to the Mr Price Money FAQs, new accounts can choose a 6-month or 12-month interest-bearing facility, and both can be used across all six brands. If the instalments on a 6-month account feel too high, you can ask to switch to 12 months. The online pre-screening form also lists a 4-month Start-Up option. Older 24-month accounts can only be used at Mr Price Home and Mr Price Sport for bigger items such as furniture and exercise machines.
Who can apply and what you need
You can apply in store or online. Mr Price Money says you must:
- be over 18
- be employed (permanent employment is listed for new applications)
- have a contactable work number and a cellphone number
- have a valid ID or passport and a home and postal address
- supply your latest three months of payslips or bank statements
Because the National Credit Act requires an affordability assessment, proof of income is not optional. You can send a clear photo of your documents by WhatsApp to 064 584 1010, email them to newacc@mrpg.com, or take them to a Mr Price store. Approval usually takes 24 to 48 hours once everything has been received. Students without a regular income will not meet these requirements.
If you are married in community of property, the terms and conditions say your spouse must give written consent. It is worth checking your credit record before you apply, and our guide to getting your free credit report shows how.
Interest, fees and insurance
The store card terms and conditions say the interest rate is the maximum permitted by the National Credit Act, linked to the repo rate. For credit facilities such as store cards, the NCA regulations set that maximum at the repo rate plus 14% a year. The South African Reserve Bank raised the repo rate to 7.25% from 25 September 2026, so the cap is now 21.25% a year. When the repo rate moves, your rate moves with it, and the change is shown on your statement. Interest is calculated daily and compounded monthly.
| Cost | What the rules allow | Where to find your figure |
|---|---|---|
| Interest | Up to repo plus 14% (21.25% a year at a 7.25% repo rate) | Pre-agreement quote and monthly statement |
| Monthly service fee | Up to R60 a month under the NCA | Pre-agreement quote; Mr Price may waive it |
| Initiation fee | Up to R165 plus 10% of the credit amount above R1,000, capped at R1,050 | Pre-agreement quote; pay upfront or add to the balance |
| Minimum payment | Your instalment or R30, whichever is greater | Monthly statement |
Your own rate and fees are set out in the pre-agreement statement and quotation you receive before you sign, so read it carefully.
Insurance on the account
For accounts opened after 9 July 2026, Credit Balance Protection is compulsory. It settles your balance on death, disability, retrenchment or loss of income. You may replace it with your own credit life policy that offers the same cover, and if you do so within three months of opening the account, premiums already charged are refunded. Other cover, such as Lost Card Protection, funeral and accident plans, is optional and billed to your account. Our guide to credit life insurance explains how this kind of cover works. For insurance queries, call Mr Price Insurance on 086 1000 518.
How to pay your account
- In store at any Mr Price, Mr Price Home, Mr Price Sport, Mr Price Cellular, Sheet Street or Miladys store
- Online by logging in to your Mr Price Money account
- By EFT from your banking app, using the barcoded account number on your card. EFT payments take 2 to 3 business days to reflect
- Via USSD on *120*410#
Payment is due on the last day of each month. Mr Price Money does not offer debit orders, so set a reminder or pay a few days early if you use EFT. You can pay more than the minimum, or settle the full balance, at any time.
Check your balance and get a statement
Dial *120*410#, WhatsApp 064 584 1010, or log in online to see your balance and statements. You can also call 0800 212 535 and ask for your statement to be emailed or sent by SMS. Your account number is the barcoded number printed on your card.
Credit limit increases
You can apply for a higher limit online, on WhatsApp at 064 584 1010, or on *120*410#. Any increase depends on a fresh affordability check. For accounts opened after 8 October 2025 there are two limits: an approved credit limit shown in your pre-agreement, and a current credit limit shown on your statement. You can only spend up to the current limit.
Airtime, lay-by and other ways to buy
You can buy Mr Price Mobile airtime or data on your store card by dialling *140# and choosing the airtime or data option, or by logging in online. If you would rather avoid credit altogether, Mr Price says its lay-by in Mr Price and Mr Price Sport stores needs no credit check and charges no interest: you pay a 10% deposit and have three months to pay off the item.
Mr Price Money account holders also qualify for the Insiders rewards programme. To compare this account with other retailers’ cards, see our guide to store cards in South Africa.
If you are struggling to pay
Contact Mr Price early. You can arrange payments by calling 0800 547 843 or emailing paymentassist@mrpg.com. If you fall behind, the account can be suspended, you may face default charges and collection costs, and the arrears will be reported to the credit bureaus. If you are at least 20 business days in default and do not respond to a written notice within 10 business days, Mr Price may cancel the agreement or go to court.
If several debts are overwhelming you, a registered debt counsellor can help. Our debt review guide explains the process.
Useful contacts
| Need | Contact |
|---|---|
| Customer care and lost or stolen cards | 08610 66639 |
| Statements and account queries | 0800 212 535 or service@mrpg.com |
| WhatsApp (documents, balance, limit increase) | 064 584 1010 |
| Payment arrangements | 0800 547 843 or paymentassist@mrpg.com |
| Insurance | 086 1000 518 or insuranceinfo@mrpg.com |
| National Credit Regulator (complaints) | 0860 627 627 |
Report a lost or stolen card straight away. Until you do, you are liable for purchases made on it.
Frequently asked questions
What is the interest rate on a Mr Price store card?
It is the maximum the National Credit Act allows for credit facilities: the repo rate plus 14%. With the repo rate at 7.25% from 25 September 2026, that is 21.25% a year. Your exact rate is on your pre-agreement quote and statement.
Can I use my Mr Price card at Sheet Street and Miladys?
Yes. A 6-month or 12-month Mr Price Money account works online and in store at Mr Price, Mr Price Home, Mr Price Sport, Mr Price Cellular, Sheet Street and Miladys.
Can I open an account if I am unemployed or a student?
No. Mr Price Money requires you to be employed and to provide three months of proof of income.
How long does approval take?
Usually 24 to 48 hours once Mr Price Money has all your documents and information.
Can I pay by debit order?
No. Pay in store, online, by EFT or via *120*410#. EFT payments take 2 to 3 business days to reflect.
How do I close my account?
Settle the balance and contact customer service on 0800 212 535. Mr Price Money says closing an account takes about 24 hours.
Before you apply
A store card is convenient, but interest at 21.25% makes clothes and homeware much more expensive if you only pay the minimum. Use it for planned purchases you can repay within the term, and compare the total cost in your pre-agreement quote with paying cash or using lay-by.
Last checked: 28 October 2026, against Mr Price Money’s website and terms and conditions, the South African Reserve Bank and the National Credit Act regulations.
Disclaimer: This article is general information, not financial advice. Code Cash is not affiliated with Mr Price Group. Speak to a registered financial adviser about your own circumstances before taking on credit.