Over the last few years credit scores have become big business. Banks now have customers’ credit scores accessible on their banking apps, and they actively encourage customers to check their scores. There has also been a proliferation of credit...
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Can debt counselling help your credit score?
Have you thought about applying for debt counselling but decided against it, because you weren't really sure of the benefits? One benefit you may not have considered is that successfully completing debt counselling could help your credit score....
Video: What your credit score says about you
If you are planning on buying a home, the first thing you should do is go check your credit score. The purpose of your credit score is to inform prospective lenders how much of a risk you present when you apply for a loan. If a lender perceives you...
Improve your credit score
Whether you want to buy a property or a car, most South Africans need credit to do so. And, strange as it may seem, knowing how much credit you qualify for and how you can improve your credit score may just be critical to your ability to continue...
Video: What is considered a good credit score?
Say you have been working hard at improving your credit score by settling outstanding debts and you are now paid up and you want to buy a house or a car. How long before that reflects on your credit score to the extent that you are now considered a...
Increase in unsecured debt is cause for concern
Over 6 million applications for credit were turned down in the second quarter of this year, according to the latest Consumer Credit Market Report. In comparison to the same period last year, the number of new credit transactions and facilities...
Listen: What really affects your credit score: the myths and the facts
Does shopping around for competitive quotes really affect your credit score? Maya (@mayaonmoney) and Mapalo (@womanandfinance) unpack the myths and the facts around what affects your credit score and how you can improve it.
How to get an ‘excellent’ credit score
When it comes to buying a house or car, a bank would consider both your affordability as well as your credit score. Your affordability will determine how much the bank will lend you, but your credit score determines your interest rate, or whether...
Video: How to improve your credit score
Sometimes we need to access credit for emergencies, student loans, or to buy a car. The key is to try and get the best possible interest rate ‒ which means you need a good credit score. Credit bureau Compuscan shared some insights into factors that...
Five myths about your credit report
Sharon Coppola, Senior Executive Risk and Compliance at Experian South Africa, unpacks the myths and truths behind credit reports and credit scores. As more South Africans seek ways to manage their personal finances during the current economic...
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How to clear your credit record
Tshepo writes: I would to know what the next step is, after you have settled your debts, to improve your credit score – in other words, clear your credit record. Maya replies: According to the office of the Credit Ombud, once the consumer has settled all the...
What your credit report says about you
Make sure you know more about your credit report than your creditors do. Mosala wrote to me when she discovered that she had been ‘blacklisted’. She had lost her job and fallen behind on some payments, and wanted to find out out who had blacklisted her. Salem Dyafta,...