YOU (South Africa) - - LIFESTYLE -

The largest credit bu­reaus in SA in­clude XDS (Xpert De­ci­sion Sys­tems), Ex­pe­rian, Com­pus­can and Tran­sUnion but there are many more.

All credit bu­reaus must be reg­is­tered with the Na­tional Credit Reg­u­la­tor (NCR) – ncr.org.za.

They’ll give you a credit score cal­cu­lated ac­cord­ing to your fi­nan­cial his­tory, in­clud­ing loans and re­pay­ment habits.

Credit providers such as banks use this score to de­ter­mine if you’re a good can­di­date for a loan.

Al­though credit scores may dif­fer from one to the next, it’s usu­ally ex­pressed in a num­ber any­where be­tween 0 and 999. HERE’S AN EX­AM­PLE OF WHAT TRAN­SUNION’S LOOKS LIKE: Ex­cel­lent 767-999 Good 681-766 Favourable 614-680 Av­er­age 583-613 Be­low av­er­age 527-582 Un­favourable 487-526 Poor 0-486 Your credit rat­ing can im­prove or de­te­ri­o­rate de­pend­ing on your credit be­hav­iour.

For ex­am­ple: Emma has an ex­cel­lent rat­ing (842) be­cause she pays her mort­gage, cell­phone con­tract and credit card in full ev­ery month. She also doesn’t have any other debts and there’s never been a court or­der against her.

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