Low Credit Scoring

JanineM08

New Member
Joined
Dec 10, 2014
Messages
1
I am looking to purchase a car next year but after I made an inquiry I was told that my credit scoring is in the negatives. I am only 24, have never had an account. When I tried opening a clothing account I was again told about my scoring.

Apparently FNB temporary loans (3 of R400) and Wonga loans have dented my scoring. Someone suggested that I lay-bye something to show a good payment record before I can apply for an account. I thought that having money in my account for the loans to be debited would be good enough, unfortunately it doesn't work that way.

Please advise on how to get my credit scoring up to be able to purchase a car? Would a cellphone contract help, as FNB is offering one. This is all really confusing.

Janine
 
Last edited:

F1 Fan

Executive Member
Joined
Nov 8, 2010
Messages
5,059
The easiest way is to get a student credit card from Absa. No requirements and it will build up your credit record nicely.
 

JStrike

Honorary Master
Joined
Aug 29, 2005
Messages
12,454
If you had paid your FNB and Wonga loans on time, they would have boosted your credit score, not brought them down.
Not paying on time however...
 

Rouxenator

Dank meme lord
Joined
Oct 31, 2007
Messages
38,941
I scored quite a lot when I had low credit. That said we did get married in the end.
 
Top