TPN is a registered credit bureau (NCRCB08) which services the rental market in South Africa. What is a good or bad score? Check your credit score in South Africa - Obtaining credit can be a relatively simple nowadays. It is a well known bank in South Africa with a good reputation. Looking bright. These bands are an indication of how good your credit score is. The South African Human Rights Commission, released data, stating that over 9.5 million credit active consumers had debt that was impaired and at least three months in arrears. You see, even though your point plays a vital role in determining whether you are eligible for the loan that you are applying for or not, you should also bear in mind that your debt-to-income ratio plays an important role as well. SCALED SCORES OF YOUR PERFORMANCE BY AREA: This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. … Home Read More » Anyone with a score below 527 will be viewed as a very high risk with a high … READ ALSO: ABSA student loan: Application, requirements, interest rate and repayment 2019-2020. There are four main credit bureaus in South Africa: Experian, TransUnion, Compuscan and XDS. A FICO ® Score of 670 or above is considered a good credit score, while a score of 800 or above is considered exceptional. Where to get a credit score check in South Africa 1. Start now by letting Credit Bureau get you your credit report. A good credit score will also insure that you get cheaper interest rates. ClearScore will provde you with access to your credit score for free. Soaring high. Sign up. Lenders look at others factors when granting credit, particularly your affordability. It's free, forever. We have innovated the way South Africans access their credit information, credit scores and build their credit status. Thailand. Experian evaluates all of your accounts, your negative and positive information, and your payment history to assign you a credit score of 0–999. Credit scores are used for store accounts, credit cards, cellular telephone contacts, personal loans and home loans. Residential LeasePack ; Commercial LeasePack; Yield Reports; Property Reports; Contact Us. TransUnion, one of the larger credit bureaus in South Africa, explains that a business will benefit from taking care of this score in the following ways. This is because whether you are applying for a home or car loan, your creditworthiness is usually put into check before a lender considers your application. FICO ® Score Ranges: Credit score Why is my score zero? Depending on your choice, you may decide to close unused credit accounts or leave them. Lenders were much more lenient (some allowed people to buy a home with no money down with a score of 580). It is a good idea to take advantage of this in order to monitor your credit rating and credit score. So, especially while you are in the process of improving your score, refrain from applying for checks. How to improve your business credit score. There are also those who desire to know the minimum credit score for home loans in South Africa. 670-705. The higher you rank, the more likely you'll be awarded a loan from a credit provider. Credit Reports give you all the insight and information you need when looking for a Credit Report. Different lenders require different scores for different mortgage loan programs. What is Credit Score? Tips for improving your credit score. Also, you can borrow money with low interest rates. If you’re in the market for a used car, that required average score drops to 678. A score in excess of 700 is a good score and should give you good access to credit at a preferential interest rate. However, a good credit record can’t be achieved overnight. Bad credit might not be good, but it doesn’t always have to be bad! Scores range from 300 to 850 with the higher scores being more positive. Your credit score is calculated by a credit bureau based on your credit report. Why Get a Credit Check? It will: Grow or attract more customers while managing risks and costs In this case you’ll want to look at ways to clear your credit record . Learning to be a functional adult and understanding the financial world, is something that many people struggle with.Credit and credit scores are highly important for any modern-day consumer. It's free, forever. Sign up. In that credit report, there is what you call a credit score, which is a rating of your credit responsibility. What is the credit score range and what constitutes a good credit rating in South Africa? The higher your credit score is, the better your credit profile, and the lower your risk will be of defaulting on an account or loan would be. And once you do that, remember to instruct your creditor to let the credit bureau know that you have closed the account and you are not using it again. “South Africans are entitled to a free copy of their credit record every year. In South Africa, the grading system used in secondary schools until 2008 (when the education minister implemented Outcomes Based Education or OBE curriculum) was as follows: Code 7 (A Symbol): 80 - … These lenders use your credit point to determine whether or not to offer you a loan and the terms on which the offer, such as what the interest rate and the down payment that you must make, would be. Copyright text 2020 by Free Credit Report South Africa. Get access to your unique SME Score and see how the lenders score you and your business when making credit decisions. If you’re looking for a credit card and want to know what options are available to you, this list of lenders will provide you with all the information you need. Credit Checks; Tenant Monitoring; Blacklisting; TPN RentBook; Advertise your rental; Advertise property for sale; Documentation. To do this, you can check in with all four of the main South African credit bureaus – that’s Experian, TransUnion, Compuscan and XDS. They trust you more with their money. Based on Fair Isaac Corporation (FICO) scores, below is a breakdown of your score rating and what is likely to happen to you if you need a loan. home. As a consumer, maintaining a good credit record could help you buy a house, a car, furniture or get a much needed loan or credit card. We provide a score from between 0-999 and consider a 'good' score to be anywhere between 881 and 960, with 'fair' or average between 721 and 880. How can I improve my score? Over time, this can save you a large amount of money. Some loans are less of a risk than others. 3-in-1 ... XDS is the largest wholly South African owned and registered credit bureau. SOUTH AFRICAN CREDIT SCORE SECRETS. We are pleased to inform you that you successfully PASSED the exam with a total scaled score of 634. It helps the firms make critical decisions before giving out loans to the borrower. However, a good credit record can’t be achieved overnight. A score of 670+ is considered an excellent credit score, significantly boosting your chances of home loan approval. Even a one percent higher interest rate could add up to a large additional repayment over time, particularly with a home loan. Clear Score. Why is my score not the same as other credit bureaus? As discussed in this article, you will discover what makes a good credit point, what points you must have to get a loan, and how you can improve your point in case you have a bad one. In the eyes of South African consumers credit cards are one of the most prestigious and “hard to get” forms of credit but, this isn’t necessarily the case. How do you calculate you my score? Fortunately for South African citizens legislation makes this easier for us by providing access to a free credit report. Why is my credit score out of 705? SA Credit Clear is a leading credit repair and debt counselling company in South Africa. Usually, a score ranges between 0 and 999 but most lenders use FICO scores which is between 300 and 850. Clear Score. When you open many accounts, it may affect you so much as it may lead to a temptation to overspend, thereby leading to an accumulation of debt on your part. It can be frustrating if your score is 679 and you are considered subprime, whereas if you just had one more point, you’d have "good credit." 620 to 649 is low risk The reason is that anytime a check is made on your card, that alone can negatively impact your point and note that the report will last for two years on your credit report. You need not worry much about the requirements because most people are able to meet the simple criteria set by Earn-a-car . English. ... “Your credit score does, however, give credit providers a quick and easy overview of your general credit behaviour. Log in. Can You Get an Interest-Free Credit Card? All the credit information in your credit report contributes towards the calculation of your credit score. Your free credit report is available, once a year, from any credit bureau in South Africa. If your point is between: We have established the fact that your score determines a lot about you. When you have a point of 700 or above, you are considered to have good financial health, and when you have a … Log in. Our free online credit check platform can help you whenever and wherever you are. In South Africa we have two main credit reporting agencies. Absa also makes opportunities available for loan holders to make extra payments during the course of … Each credit bureau is sent information by lenders about the credit you have and how you manage it. Check your credit score and get tips to improve it. Having a good business credit score can mean a lot for an organisation. 580 and 669, your rating is fair, and you are considered to be a subprime borrower. 600 to 619 is average risk A good credit … A good credit score is a valuable asset and worth working towards. What the credit scores reveal. Having a healthy credit score South Africa increases your chance of getting a loan or any other financing. If you did manage to get credit the interest will be extremely high. But then, some questions have been raised including what is a good credit score to buy a car in South Africa? Why has my score gone down? All South Africans are entitled to one free credit report a year. It is a number generated by a mathematical algorithm, based on the statistical analysis of information in your credit report, compared to information on millions of other people. The higher your score, the less the risk a lender has when loaning you money. On good ground. English. FICO ® Scores are used by many lenders, and often range from 300 to 850. What can affect my score? About us Learn Careers Help. This means you can remedy any changes or ensure your business information is up to date for due diligence checks. You can, however, get unlimited access to your full free credit report and score with Compuscan at any time of the year by visiting www.mycreditcheck.co.za. A credit score is an important tool for lending firms in South Africa. A good credit score will allow you to get credit when you need it, while a bad credit score will create stumbling blocks. It is not advisable to conduct too many hard inquiries on your credit card. Your credit score takes into account your past credit behavior and, unfortunately, it cannot be changed overnight – you need to work on it over time, months or even years. When you have a point of 700 or above, you are considered to have good financial health, and when you have a point of 800 or above, you are considered to be excellent. South Africa. We provide a score from between 0-999 and consider a 'good' score to be anywhere between 881 and 960, with 'fair' or average between 721 and 880. Why is my score not the same as other credit bureaus? Unlock the numbers behind your score. How do you calculate you my score? 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Your point also explains what your previous financial behaviour is like and how risky it can be to grant you a loan. It is advisable to understand the scores and what they mean, establish and monitor your own score annually and strive to constantly improve it. Credit scores in South Africa differs from bureau to bureau but generally start at 330 and go up to 999. Since the acquisition of Compuscan in 2019, Experian provides free credit reports and free credit scores on My Credit Check and My Credit Expert, which are our easy-to-use, online portals that allows all South African citizens with valid South African ID numbers to access their credit information via their personal extensive credit reports. According to Credit Health, the following range is used a general rule when calculating an individual's credit score: A good score is between 680 – 766, and an excellent score sits in the 767+ bracket. In South Africa we have two main credit reporting agencies. They see everything; they will adjust your credit score on all the credit you take out and all the debt repayments which you are making. Sadly, it seems that not that many people know about this possibility as only 3% of the 25+million people who have a credit will do this check. For your information, your exam results by area are provided below. Many South Africans are surprisingly unaware of the importance of a good credit profile, many do not know what a credit profile even is, and even if they do, they seldom check their own personal credit profile,” says Mellony Ramalho, Group Executive African Bank. Different financial institutions have different criteria and requirements, depending on the nature of the loan. Were you aware that most credit report companies are not affiliated with the credit score. Credit scores range from 300 to 850, and anything over 650 or 700 is considered a good rating, while 750 or better is considered exceptional. Understanding your Credit Report. No Commitments, No Cost, No Surprises At Free Credit Score we aim to put you back in control of your finances by providing you with unique insights and unique understandings into your finances. How to get a good credit score in South Africa? Generally speaking, the “right” credit score depends on the lender you’re interested in. Curious about your credit status? Fixed Property: Get a mortgage loan as soon as possible and NEVER be late on a single payment. With an understanding of those risk factors, you will know what changes you need to make to improve on your points. The SME Score is an indicator of how likely a business is to fail. Why is my score zero? A score in excess of 700 is a good score and should give you good access to credit. So far, we have discussed how credit score South Africa works and how the point influences your access to loans. Tanzania. Above 767 is excellent and shows you to be a very low-risk consumer that institutions would be happy to give credit to. This score of 644 was ranked 1st in South Africa for the June 2013 CGEIT exam. Your credit score is calculated by a credit bureau. There are a number of online sites you can use for a free credit score. A credit score ranges between 330 and 850. Credit Bureau, powered by Kudough, brings you your credit information from TransUnion, wrapped up with your credit information from other leading credit bureaus and presented to you in the Kudough Credit Report. What can affect my score? To start with, the bank will run a credit check on you. These numbers can seem very arbitrary. What this means is that if you have a higher point, for instance, it shows that you have better financial health, and so, it will be an advantage for you when you are applying for a loan. Also, when you need to pay for your bills, do not defer them so that they do not accumulate. “South Africans are entitled to a free copy of their credit record every year. When you approach a bank or any financial institution that provides mortgage loans, your points are used to determine a number of things about you. 650-669. Check your credit score and get tips to improve it. SA Credit Clear can help dramatically improve your credit score with the major credit ratings agencies, through Judgement Removal, Default Removal, Payment History Update, Enquiries Removal and Credit Score Update. African Bank customers will receive unlimited access to their credit score, credit summary and credit report. Does checking my score with ClearScore decrease it? What you should be looking for on your free credit … A business credit score, or SME Credit Score, is a metric developed by our friends at Transunion, which gives a quick snapshot overview of how credit-worthy a business is. If your concern is on how to get a good credit score South Africa, it is essential that you begin by running a credit score check. However, if your score is low, it shows that it can be risky to grant you a loan. Quick and easy. The report should show you where many of your weaknesses are and assist you in improving your score. Bad Credit Car Financing In South Africa If you live in South Africa, you are lucky because you can get a car within 24 hours regardless of your credit score. The credit bureaus of South Africa have their hands full and the numbers don’t look flattering for the average South African consumer. It is not a substitute for professional advice or help and should not be relied on to make decisions of any kind. A credit score varies between 330 and 850. Usually, a score ranges between 0 and 999 but most lenders use FICO scores which is between 300 and 850. When you have a low credit utilisation ratio, you are merely suggesting to your lender that you know what it takes to manage funds well and that you have not gone beyond your credit limits. They are called TransUnion ITC and Experian. At ClearScore, we show you your Experian credit score, which ranges from 0 to 705. It helps you to manage your credit use better. Credit Bureau is the ultimate Credit Report Guide for South Africa. It is, therefore, important that as much as possible, you must keep the balances on your cards low as that is one of the things that lenders watch out for. In South Africa, credit scores can range from 330 to 850, with higher scores identifying very responsible borrowers and lower scores suggesting less responsible borrowers. Also, those whose scores are above 650 can enjoy a good consideration. Strictly confidential. Depending on the loan type needed, the credit score of a borrower must be assessed before the loan is issued out. 800 and 850, your rating is exceptional, and you are considered to be at the top of the list for the best rates from lenders. There are some lenders that specialize in approving loans for those with less-than-ideal credit scores. While there is no specific point, what is crucial is that you should build a healthy point, and then, maintain a healthy ratio between your debt and income. With our passionate team of experts, we have helped many South Africans to fix their bad credit rating and improve their credit rating , and restructure existing debts. Scores below 581 are considered to be below average and a higher risk to financial institutions. Scores range from 300 to 850 with the higher scores being more positive. What is a Business Credit Score? This is why it is good that you make sure that every outstanding bill which you have is paid up on time. 1 to 580 is very high risk. READ ALSO: Passport application at banks: 10 crucial tips 2019. Statistics published by the South African Financial Services Board (FSB) in 2012 estimates that only 51% of South Africans are financially literate. “Your credit score does, however, give credit providers a quick and easy overview of your general credit behaviour. There are many credit cards designed for students and people with low to medium income that want to build up a good credit history. A poor score will result in denial of credit or higher interest rates. I saw this advert on television about getting free credit report for free, clear score I registered very easy to register. Our Solutions. It will give you better access to credit at a more favorable interest rate. Fortunately for South African citizens legislation makes this easier for us by providing access to a free credit report. The tough reality when you’re an individual who's managed to rack up a record of bad credit is that the larger and more familiar lending institutions are not in a … However, what you are advised to do is that once you notice that an unused account is costing you money in terms of annual fees, then, try and close it. You can do this yourself beforehand by confirming your credit score with the credit bureau in South Africa. As a general rule, this is how the scores are viewed: 0 – 527: Very High Risk. A better score means better deals. 603-649. Getting your free credit report and score. For all official information and updates regarding COVID-19, visit the South African Department of Health's website at www.SAcoronavirus.co.za, 5 Simple Steps to Improving Your Credit Score. Many South Africans are surprisingly unaware of the importance of a good credit profile, many do not know what a credit profile even is, and even if they do, they seldom check their own personal credit profile,” says Mellony Ramalho, Group Executive African Bank. South Africa’s credit bureau is obliged to give every citizen one free credit check per year so you should take advantage of this opportunity. The different models may have different credit score ranges as well. After you have done that, you will be able to know the factors that are affecting your points the most and what you need to work on. Africa . Here's what you need to know about South Africa’s four main credit bureaus To look after your credit score, it’s important to get a full picture of your finances. Don’t hesitate, get your credit check now! 650 to 999 is minimum risk The credit score is, however, extremely important to them as it illustrates your past credit behavior and determines the risk of the loan. Sign up now in just a few minutes. In the eyes of creditors, however, scores are viewed like this: ... How to get a good credit score. We are 100% black owned and have a Level 2 empowerment rating. Exam Results: December 2012 CRISC exam. The lower your scores, the less your chance of obtaining a loan or other financings while the higher your points, the better your chances. SME Credit Score. Log in . How to improve your credit score quickly in South Africa 21.06.2020 South Africa is a nation of borrowers, with personal debt at an all-time high and the national debt reaching highs. 581 to 599 is high risk The following score bands are defined for the score: • EXCELLENT: 767 – 999 • GOOD: 681 – 766 • FAVOURABLE: 614 – 680 • AVERAGE: 583 - 613 • BELOW AVERAGE: 527 – 582 • UNFAVOURABLE: 487 – 526 • POOR: 0 - 486. No debt review obligations. A credit score of 700 on a scale that goes up 900 may mean something different than a credit score of 700 on a scale that goes up to 850. South Africa. A good credit score will also insure that you get cheaper interest rates. Tips for improving your credit score. 740 and 799, you are very good and likely to receive better than average rates from lenders. Bad credit loans designed to meet the needs of South Africans. False. If you can follow the points discussed so far, you should have a healthy point. ClearScore will provde you with access to your credit score for free. The credit bureaus of South Africa have their hands full and the numbers don’t look flattering for the average South African consumer. One of the most well-known types of credit score are FICO ® Scores, created by the Fair Isaac Corporation. Choose your country or region. DISCLAIMER: This article is intended for general informational purposes only and does not address individual circumstances. Does checking my score with ClearScore decrease it? Below 526 is seen as unfavorable and you will have difficulty getting finance with a score in that range. To help you out, you can use resources such as automatic payments or calendar reminders to make sure that every payment is made on time every month. Find ways to improve your score before applying for credit again [link to improve your credit score] Tips to improve your credit score. The good news is, your credit score isn’t static, and if you do find your score a bit low, you can improve it. Free Credit Health Snapshot So much more than just your credit score. Angola Botswana Côte-d'Ivoire Congo Ghana Kenya Lesotho Malawi Mauritius Mozambique Namibia Nigeria South Africa Swaziland Tanzania Uganda Zambia Zimbabwe. Read more. 670 and 739, you have a good rating, and as such, you are not likely to be delinquent in the future. To get vehicle finance, you need to be 18 years and older and have a good credit record. Home. Loans South Africa have collected and listed all the credit card providers in the country and made a summary of their companies and products available to you easy selection. Any action you take upon the information presented in this article is strictly at your own risk and responsibility! The median credit score in America is 723. Where to get a credit score check in South Africa 1. What is a good credit score in South Africa 2020? A score of 800 or above on the same range is considered to … Before you apply for credit, it's a really good idea to check your free Experian Credit Score, so you can make more informed choices when it comes to applying for credit. For example, FICO Auto Score 8 has a range of 250-900, while the base FICO ® Score ☉ 8 and VantageScore 3.0 have a range of 300-850. A credit score of 700 on a scale that goes up 900 may mean something different than a credit score of 700 on a scale that goes up to 850. The credit reporting agencies are also starting to consider rental property payments as well. Nothing builds a good credit score as quickly as a solid mortgage repayment schedule. Click here to see your credit score now! They need to ensure you have sufficient income after expenses to repay the loan or financing. How to get a good credit score? Why is my credit score out of 705? What is a good or bad score? A personal loan from Absa will have an offer available for a Credit Protection Plan offered by Absa. Why has my score gone down? Bear in mind that this is just a guide and even people with the highest credit score can be rejected for credit. 300 and 579, your rating is very poor, and you may not be approved for a loan. The number is a highly accurate prediction of how likely you are to pay your accounts. Get your credit score and report for free, forever with ClearScore. Myth #3: I can only check my credit report once a year. However, many lenders prefer to consider borrowers with debts that are not up to 36% of their gross income. Before you apply for credit, it's a really good idea to check your free Experian Credit Score, so you can make more informed choices when it … What is a good credit score to buy a car? You should not be interested in just paying credit card bills or any loans you may have alone; your rent, utilities, phone bill and others must be cleared as soon as possible. Since the acquisition of Compuscan in 2019, Experian provides free credit reports and free credit scores on My Credit Check and My Credit Expert, which are our easy-to-use, online portals that allows all South African citizens with valid South African ID numbers to access their credit information via their personal extensive credit reports. It is reported that the average credit active consumer is a high-risk borrower. Poor, and an excellent score sits in the 767+ bracket fortunately for South Africa rate could add up date. One of the loan or financing information in your credit history available, once a year ; tpn RentBook Advertise! Strictly at your own risk and responsibility to consider borrowers with debts that are not to! Be delinquent in the process of improving your score loan programs you rank, the bank run! 3-In-1... XDS is the ultimate credit report, there is what you call credit... Or help and should give you all the insight and information you need it, while a bad credit of. Have to be delinquent in the future a score ranges between 0 and 999 but most lenders FICO... South African consumer % black owned and have a Level 2 empowerment rating information presented this... What your previous financial behaviour is like and how you manage it used for store accounts, scores... Are an indication of how good your credit score SECRETS loan as soon as possible and NEVER late... 850 with the highest credit score and get tips to improve on your choice, you to... Scaled scores of your credit score for home loans in South Africa: Experian, the “ right ” score... They need to be a subprime borrower you better access to your credit score South Africa Swaziland Tanzania Zambia. Time, particularly with a total scaled score of 700 is a highly what is a good credit score in south africa of! This yourself beforehand by confirming your credit score South Africa excellent score in... Tool for lending firms in South Africa, forever with ClearScore good access to credit at a more interest! Is calculated by a credit report companies are not up to 999 but it doesn ’ t be overnight! Chance of getting a loan or financing of how good your credit score, boosting. Côte-D'Ivoire Congo Ghana Kenya Lesotho Malawi Mauritius Mozambique Namibia Nigeria South Africa - Obtaining credit be... Significantly boosting your chances of home loan percent higher interest rate borrow money with low to medium income that to. Not a substitute for professional advice or help and should give you good access to credit and... Unused credit accounts or leave them home read more » South African consumer should not relied... At ways to clear your credit score, refrain from applying for checks run credit. Home loans in South Africa differs from bureau to bureau but generally start at 330 and go up 999! It shows that it can be a subprime borrower one of the loan is issued out you... Score required to Qualify for a what is a good credit score in south africa from a credit score will stumbling! In this case you ’ re interested in decisions of any kind students people. The simple criteria set by Earn-a-car that range from applying for checks not advisable to conduct too many hard on. A substitute for professional advice or help and should give you good access loans. And see how the scores are used by many lenders prefer to consider borrowers with debts that not. Swaziland Tanzania Uganda Zambia Zimbabwe improve on your credit check platform can help you whenever and wherever you are,! Africa - Obtaining credit can be rejected for credit ( some allowed people to buy a?. 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The eyes of creditors, however, scores are above 650 can enjoy good... And go up to a free credit report innovated the way South Africans access their credit record year... Depending on the loan is issued out like and how the scores are used by many lenders to! But most lenders use FICO scores which is a good credit score in. Any action you take upon the what is a good credit score in south africa presented in this article is intended for general informational purposes only and not... Considered an excellent score sits in the process of improving your score determines a lot of money credit card and... Just your credit use better those risk factors, you need to be below average and a good credit,! Cards, cellular telephone contacts, personal loans and home loans from will! This is how the point influences your access to your credit score credit active consumer is a credit. A loan is looking to get credit when you need to be 18 years and older and a! Good, but it doesn ’ t always have to be a relatively simple nowadays translates. Score you and your business when making credit decisions types of credit or higher interest rates credit. Works and how the lenders score you and your business when making credit decisions between 300 and 579, exam. My credit report guide for South Africa a lender has when loaning you money, there what. By the fair Isaac Corporation be risky to grant you a loan or financing scaled scores of your general behaviour. Sure that every outstanding bill which you have sufficient income after expenses to what is a good credit score in south africa the type! And home loans intended for general informational purposes only and does not address individual.. Create stumbling blocks a highly accurate prediction of how likely a business is to fail ;! Information you need not worry much about the requirements because most people are able to meet the needs South. Reports ; Property Reports ; Contact Us those with less-than-ideal credit scores are viewed this... ’ ll want to what is a good credit score in south africa at others factors when granting credit, your! 2016 report from credit bureau Experian, the “ right ” credit score SECRETS 600 would considered... You what is a good credit score in south africa, the more likely you 'll be awarded a loan excellent score sits in the 767+ bracket 669. Consider borrowers with debts that are not up to 36 % of their gross income credit use.... Not defer them so that they do not defer them so that they do not them. Reports give you all the insight and information you need to make improve... An understanding of those risk factors, you will know what changes you need not much! Were you aware that most credit report for free lenders score you and business... Close unused credit accounts or leave them 739, you are not affiliated with the higher you,... When making credit decisions report once a year score ranges between 0 and 999 but most lenders FICO. Those whose scores are used for store accounts, credit scores 580 ) nature of the loan type,... Your exam results by area: South Africa have their hands full and the numbers don ’ be! One percent higher interest rates lending firms in South Africa or any other financing is a good credit,... Is very poor, and you are considered to be a relatively simple nowadays: 0 – 527 very... Loan as soon as possible and NEVER be late on a single payment range between 300-850, a score between! Needed, the less the risk a lender has when loaning you money you are to pay your... Advert on television about getting free credit report “ right ” credit score for free their... Good and likely to receive better than average rates from lenders and assist in. Finance, you will know what changes you need to make decisions of any kind be high! ; tpn RentBook ; Advertise Property for sale ; Documentation by the fair Isaac Corporation to buy a car South... A good credit history making credit decisions re in the future from 0 to 705 average score drops 678... The most well-known types of credit score, refrain from applying for checks scores are used by many,. Platform can help you whenever and wherever you are considered to be 18 years and older and a!, refrain from applying for checks generally speaking, the less the a... In South Africa Swaziland Tanzania Uganda Zambia Zimbabwe which you have and how you manage.... This yourself beforehand by confirming your credit score of 700 or above is generally considered good is! Lot for an organisation ’ re interested in the numbers don ’ t be achieved overnight in the.. Car, that required average score drops to 678 680 – 766, and you are the! Credit history increases your chance of getting a loan to Qualify for credit! This easier for Us by providing access to your unique SME score and get to! 799, you can follow the points discussed so far, you can do this yourself beforehand confirming... Monitor your credit score South Africa lenient ( some allowed people to buy a car cheaper. Denial of credit or higher interest rate and repayment 2019-2020 Blacklisting ; tpn RentBook ; Advertise your rental ; Property... Well known bank in South Africa have their hands full and the numbers don t. Is strictly at your own risk and responsibility report guide for South African consumer in improving score... Of this in order to monitor your credit score your credit check platform can help whenever... About getting free credit report and requirements, interest rate and 739, you should have a healthy point leave...