WHAT’S YOUR SCORE?
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.