This is what your credit score should be and how to improve it

[BusinessTech]

This is what your credit score should be and how to improve it

When you apply for a bond, one of the first things your bond originator or bank will do is check your credit score, that all-important indicator of the level of risk you represent to the lender.

 

[RedViking]

Your score will be lowered if you max out your credit card every month, even if you pay off the balance on time and in full before the due date

This interesting. I have also heard the opposite. Someone confirm this statement?

 

[supersunbird]

Can get your free (or paid-for reports with scoring) from the below websites:

Transunion (have to pay for scoring, free report doesn't have scoring):
https://mytransunion.co.za/

Experian (free report has scoring):
https://www.creditexpert.co.za/

XDS (free report has scoring):
http://www.credit4life.co.za/

Compuscan (have to pay for scoring, free report doesn't have scoring):
https://www.mycreditcheck.co.za/

For a paid credit report that checks XDS, Transunion and Experian at R79 you can go to any Checkers or Shoprite MoneyMarket counter or you can do it online:
http://www.kudough.co.za/shoprite_partner.aspx

For a paid credit report that uses all 4 the credit bureaus mentioned you can use the below link to buy it online for R99:
https://www.credithealth.co.za/complete-credit-report.htm

 

[RedViking]

I did a credit score, seems ok:



I am just not sure what this is, also what is "C" and "X":

 

[supersunbird]

I am just not sure what this is, also what is "C" and "X":

View attachment 580078

Not listed with the Southern African Fraud Prevention Service
Identity has been confirmed with Home Affairs
Your are not deceased according to Home Affairs
The C and X colour coding things might have to do with your estate after death or something
Don't know about the last 2 things.

 

[wizardofid]

Never checked mine there was no reason to do so, as I didn't have any credit in the last 10 odd years besides telkom, and MTN recently, not surprisingly, credit record is squeaky clean outstanding balance shows R254.00 odd.
Don't have any credit cards or loans so yeah, R254.00 total credit a month is perfectly fine by me.
I have cancelled telkom, so will have to monitor that bugger extremely closely.

Oddly enough, I expected insurance and funeral policies to show up on these reports but they don't, wonder why ?

 

[RedViking]

So I used https://www.credithealth.co.za to get my Credit Score this morning.

2 hours later the first spam call starts coming in. Some insurance company. On a Weekend. Probably just coincidence? I've got a feeling I'm gonna get a lot more spam calls coming soon.

 

[supersunbird]

Never checked mine there was no reason to do so, as I didn't have any credit in the last 10 odd years besides telkom, and MTN recently, not surprisingly, credit record is squeaky clean outstanding balance shows R254.00 odd.
Don't have any credit cards or loans so yeah, R254.00 total credit a month is perfectly fine by me.
I have cancelled telkom, so will have to monitor that bugger extremely closely.

Oddly enough, I expected insurance and funeral policies to show up on these reports but they don't, wonder why ?

I have Santam (short term insurance) and Frank.net (life insurance) showing on all 4 the credit bureaus reports but not some similar insurance with other providers that I have (guess it's the providers who do not want to list their stuff), and interestingly I see a Multichoice product I had (EasyView account) shows up on Compuscan.

 

[supersunbird]

So I used https://www.credithealth.co.za to get my Credit Score this morning.

2 hours later the first spam call starts coming in. Some insurance company. On a Weekend. Probably just coincidence? I've got a feeling I'm gonna get a lot more spam calls coming soon.

Sorry, I have not used them myself so was not aware of that.

 

[RedViking]

Sorry, I have not used them myself so was not aware of that.

I think all of them does that. They do state that they don't share your details with '3rd party'.

 

[noxibox]

It is also why it is always better to apply for a home loan through a bond originator like Betterbond.

That is complete rubbish. The banks are well aware that you're probably applying at each one, and you can even tell them so. Either way they're not going to be concerned about seeing a few credit inquiries at the same time when you're applying for a mortgage. If there are twenty inquiries then yes they might be concerned.

 

[RedViking]

Since Saturday, I did a credit report with https://www.credithealth.co.za/complete-credit-report.htm, I have been flooded with spam calls and messages. FromAbsa, Woolworths, afinity health, OK furniture, insurance companies, death policies...... The most persistent is Woolworths who doesn't take no and leave me alone for an answer. They have phoned me 9 times today.

So much for not giving out personal information......

 

[wizardofid]

Since Saturday, I did a credit report with https://www.credithealth.co.za/complete-credit-report.htm, I have been flooded with spam calls and messages. FromAbsa, Woolworths, afinity health, OK furniture, insurance companies, death policies...... The most persistent is Woolworths who doesn't take no and leave me alone for an answer. They have phoned me 9 times today.

So much for not giving out personal information......

Lol I signed up to each individual website A beatch, but quick and easy.

 

[supersunbird]

Since Saturday, I did a credit report with https://www.credithealth.co.za/complete-credit-report.htm, I have been flooded with spam calls and messages. FromAbsa, Woolworths, afinity health, OK furniture, insurance companies, death policies...... The most persistent is Woolworths who doesn't take no and leave me alone for an answer. They have phoned me 9 times today.

So much for not giving out personal information......

I will definitely remove www.credithealth.co.za from the list I post... no, in fact it will stay there with a warning NOT to use them.