Cape Town – The National Credit Regulator (NCR) will appeal the National Consumer Tribunal’s judgment on Monday, which dismissed its referral against Lewis Stores over its club fees and extended warranties.
“The NCR does not support the credit retailers' conduct of charging consumers a club fee on credit agreements or under any supplementary agreements or documents,” the NCR said in a statement on Tuesday. “This fee increases the consumers' cost of credit.”
The referral related to Lewis stores offering consumers extended warranties that run concurrently with manufacturers’ warranties, and the charging of a club fee reflected in consumers' statements of account. The club fee is reflected in consumers' statements of account issued by Lewis Stores to its credit customers, the NCR said.