Quick facts: PEP does not offer a traditional store credit account like Edgars or Mr Price. Instead, PEP partners with Capfin for personal loans and offers buy-now-pay-later options through selected partners.
Table of Contents
- Does PEP Have a Credit Account?
- PEP and Capfin Loans
- Buy Now Pay Later at PEP
- Store Credit Alternatives
Does PEP Have a Credit Account?
No, PEP does not offer a traditional store credit account. Unlike retailers such as Edgars, Mr Price, or Woolworths, PEP does not have an in-house credit facility where you can buy items on account and pay monthly.
PEP operates as a cash retailer, which means you pay for items at the point of sale. However, PEP has partnered with financial service providers to offer customers access to credit and financial products.
PEP and Capfin Loans
PEP’s main credit offering is through Capfin, which operates loan application desks inside many PEP and Ackermans stores. A Capfin loan is a personal cash loan, not a store account. You receive the money in your bank account and can spend it anywhere.
How to Apply for a Capfin Loan at PEP
- Visit a PEP store that has a Capfin desk
- Bring your SA ID, 3 recent payslips, and a bank statement
- Complete the application with the Capfin consultant
- If approved, funds are deposited into your bank account within 24-48 hours
Capfin Loan Details
| Detail | Amount |
|---|---|
| Loan range | R1,000 – R50,000 |
| Repayment period | Up to 24 months |
| Interest rate | 5% – 28% per year |
| Requirements | SA ID, payslips, bank account |
Buy Now Pay Later Options at PEP
PEP has partnered with buy-now-pay-later services that allow you to split your purchase into instalments:
- PayJustNow: Split your purchase into 3 interest-free payments
- PayFlex: Pay over 6 weeks with no interest
- MoreTyme: Split into 3 payments over 3 months
These services are available for online purchases through PEP’s website. Availability in-store may vary. You apply through the payment provider’s app during checkout.
Store Credit Account Alternatives
If you specifically want a store credit account where you can buy clothing and household items on account, these retailers offer them:
| Store | Credit Limit | Interest Rate | How to Apply |
|---|---|---|---|
| Edgars | R500 – R20,000 | ~21% per year | In-store or online |
| Mr Price | R500 – R15,000 | ~21% per year | In-store |
| Woolworths | R1,000 – R50,000 | ~20% per year | In-store or online |
| Ackermans | R500 – R10,000 | ~21% per year | In-store |
| Jet | R500 – R15,000 | ~21% per year | In-store |
Important: Store credit accounts charge high interest rates. If you buy R1,000 worth of clothing on account and only pay the minimum each month, you could end up paying R1,400 or more in total. Only use store credit if you can pay the full amount within the interest-free period (usually 30 days).
Disclaimer: This information is for educational purposes only. Verify current details with PEP and the relevant financial service providers. CodeCash.co.za is not affiliated with PEP.