The Spitz Account offers a customizable credit line based on affordability, requiring a minimum income of R1,000.00. Additionally, account holders can select from flexible budget plans, including options for 12 or 24 months.

Spitz Store Accounts are accepted at all 70 Spitz stores across South Africa. Furthermore, account holders can utilize their accounts to purchase products from various brands available at Spitz, including:

• AGL,
• Carvela, 
• Gianni Chiarini, 
• J Renee
• Lacoste, 
• Kurt Geiger, 
• Magnanni, 
• Morandi, 
• Nina Roche, 
• Saffron Browne, 
• Stuart Weitzman, and
• Tosoni

With an extensive range of brands available, Spitz offers a plethora of items for your shopping needs. Their collection includes clothing and accessories for men, women, and children, encompassing sneakers, formal wear, casual wear, belts, bags, and shoe accessories.

Before opening a Spitz store account, it’s essential to comprehend the nature of the Spitz account and its operational mechanism. More detailed information on this subject is provided further below.

Spitz Account Summary 

The Spitz Account, offered by RCS, is accessible to individuals earning a minimum of R1,000.00 per month, making it one of the most budget-friendly store accounts concerning income requirements. With a Spitz account, holders have the flexibility to shop at any Spitz store nationwide.

This account functions as a revolving store credit card, allowing repeated usage while requiring monthly repayments on the utilized credit amount. Account holders can opt for either a 24-month or 36-month budget plan, tailoring their credit repayment schedule to suit their preferences.

Notably, the Spitz account includes customer protection insurance, which encompasses the following coverage:

• Credit protection insurance protects you in the event of your death. This cover is designed to pay off the remaining balance on the Spitz store account.
• Insurance that covers the amount of credit borrowed in the event of permanent disability. The payout will cover the outstanding balance if the account holder becomes permanently disabled.
• In the event of a temporary disability, this insurance will cover up to 12 months of Spitz account installments.
• When an account holder loses their income, income loss coverage is provided in installments for up to 12 months.

The Spitz account allows account holders to shop some of South Africa’s most well-known brands. Ladies’, men’s, and children’s brands are available. The fashion brands available are primarily focused on high-quality formal wear.

With the Spitz account, one can shop for brands such as Carvela, Kurt Geiger, and Lacoste. The Spitz account can be used to make card payments or purchases at any Spitz store nationwide.

How does the Spitz Account Work

To get started with a Spitz store account, first fill out an account application. This can be done either online or in person at a Spitz location. An assessment will be performed at a Spitz location to determine whether or not you qualify for credit by collecting your personal and credit information.

A credit amount will be allocated to your Spitz account following a successful application. The credit amount can then be used at any Spitz location across the country. The amount of credit granted will be determined by your income and credit information. As you make timely repayments, more credit will be allocated to your account.

It’s crucial to note that failure to meet repayment obligations on the utilized credit may lead to a reduction in the allocated credit amount to ensure affordability. Additionally, the account offers the option to temporarily increase the credit limit at checkout, specifically for transactions surpassing the standard credit limit. This temporary increase applies to a single order and requires reapplication if needed again in the future.

When making purchases with the Spitz account, you must choose one of the available budget options: the 24-month budget or the 36-month budget. The latter is designed for individuals preferring a slower repayment pace.

Furthermore, the store account is inclusive of credit protection insurance, safeguarding the credit amount utilized at any given time. This insurance coverage extends protection against events such as death, temporary disability, permanent disability, and retrenchment. In case of any covered incident, funds are deposited into your account to cover a portion or the entirety of the outstanding credit balance.

Competitive Advantages

1. Low Income Requirement: The Spitz Account has a relatively low minimum income requirement of R1,000.00 per month, making it accessible to a wide range of individuals.
2. Flexible Credit Options: Account holders can choose between budget plans of 24 and 36 months, allowing flexibility in managing credit repayments according to their financial situation.
3. Nationwide Usage: The account can be used at any of the 70 Spitz stores across South Africa, providing convenience and accessibility to customers.
4. Revolving Credit Facility: As a revolving store credit card, the Spitz Account allows repeated usage of credit while making monthly repayments, providing ongoing financial flexibility.
5. Credit Protection Insurance: The account includes customer protection insurance, covering events such as death, disability, and retrenchment, offering financial security to account holders during challenging times.

Competitive Disadvantages

1. Risk of Over-Utilization: The availability of credit may lead to the risk of over-utilization, potentially causing financial strain if repayments are not managed responsibly.
2. Interest Charges: Like most credit facilities, the Spitz Account may incur interest charges on outstanding balances, adding to the overall cost of credit.
3. Credit Limit Adjustments: Temporary increases in the credit limit, while beneficial for clearing large purchases, require reapplication and may lead to higher overall debt if used frequently.
4. Reduced Credit Allocation: Failure to make timely repayments may result in a reduction of the allocated credit amount, impacting purchasing power and financial flexibility.

Requirements of the Spitz Account

• Must be at least 18 years old at the time of application. 
• Have a valid South African ID book or Smart card. 
• Be employed and earn at least R1000.00.
• Have proof of residence that is not older than 3 months at the time of application. 
• Have your latest 3 months payslips or 3 months bank statements. 

Conclusion 

T

he Spitz Account offers a compelling mix of advantages such as a low income requirement, flexible credit options, nationwide usability, revolving credit facility, and credit protection insurance. These features make it an attractive choice for individuals seeking convenient and accessible store credit.

However, it’s crucial for account holders to exercise responsible financial management to avoid potential disadvantages like over-utilization, interest charges, credit limit adjustments, reduced credit allocation, and limited budget options. By understanding and effectively navigating these considerations, customers can maximize the benefits of the Spitz Account while mitigating potential risks.