Why do I need to check my credit score?

If you want to take any form of credit today in South Africa, most credit providers will run a credit check on your profile before entering into any credit agreement. A typical credit report will include the credit score of the individual, this credit score is a number that will determine whether he or she is creditworthy or not.

Just like having good marks in Matric will help you to get into the right degree programme, so too can having a good credit score help you to get the best possible interest rates when taking credit.

Credit providers are hungry to do business with clients who are healthy and have a good history of repaying their debts. Having a good credit score improves your chances of gaining different forms of credit and it indicated to prospective credit providers that you are responsible and careful about your financial transactions.

What does a credit check include?

This is one of the most frequently asked questions. Well, your standard credit check will  include the following:

  • Individuals’ name.
  • Address.
  • Financial background and credibility in terms of previous credit transactions.

How can I know my credit scores?

So, understanding the value a good credit score can have on your ability to gain credit, every South African can apply for their free annual credit report from any of the the four large credit bureaus. A free annual is a great way to get into the habit of checking your credit history, however we recommend that you check your report at least twice a year and especially at least 90 days before embarking on a large credit purchase so that you have time to fix any issues that may be present and take steps to boost your credit score, which will have a positive effect on the credit terms a credit provider will offer.

Is credit check confidential?

We have to abide by strict rules when handling this data as its very confidential, please be assured that at no stage will anyone have access to your report that is not authorized to see it. Your privacy is of our utmost importance and you can be assured that we will make sure its respected.

Why do I need to check my credit score?

As mentioned above, Credit scores are your gateway to a good financial reputation. This is why one needs to make sure that his or her credit scores are good. A regular check therefore helps keep your financial reputation in check!

i-Check Data Solutions can offer you one of the most comprehensive credit reports available currently in South Africa. We pride ourselves on a quality service that is helpful and affordable to you the client. Our full consumer credit reports start at R 20 ex vat and are power packed with useful information. If you would like to know more about this product or any of our other services, please do not hesitate to contact us today!

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credit score

i-Check Data Solutions can help you to take control of your credit score and get the best deal on the market!