What is your Credit score

S1ght

Expert Member
Joined
Jan 23, 2006
Messages
3,265
So all that pain of Transunion signup just so I CAN'T get my score :/

Luckily, everything is green with an "OK" in it :D
Ya, I really should have read the whole thread first before doing all that as well :/
 

Rocket-Boy

Executive Member
Joined
Jul 31, 2007
Messages
7,634
I worked in cellular and I know from the approvals and credit vetting department that they could not try to retest a declined application too often as they said every attempt lowered the score.

Personally I built my score up when I was younger by opening accounts with the easy places like edgars etc. Then I would buy clothing that I was planning on paying cash for with my account, I would then go in a few days later and settle the full amount.
That way you have a few accounts with good payment history on them and most offer a period of interest free credit.

Nowdays I have no clothing accounts but I still use my credit card for every single purchase I make, I just pay the full amount back each month, saves bank charges and makes everyone happy.
 

eehellfire

Executive Member
Joined
Sep 25, 2007
Messages
9,463
and If the application does go ahead i guess the results will be positive...


ANYONE KNOW/UNDERSTAND THE ALGORITHM THESE COMPANIES USE?
No. That's the point. If you knew the algorithms (also called scorecards / models) you could manipulate the outcome by playing with the inputs. This relates to the credit bureaus as well as the credit providers.

If i have one Credit card, what is the "acceptable" credit balance in terms of percentage I should have of my card limit?

You talked bout over use, Hence the question
It's not so much balance as utilization. If you take a revolving loan / credit card and it is perpetually maxed out then that is an indication of high utilization ie every time you pay an installment on the outstanding balance, you just go and use it up again - this doesn't necessarily reflect well for your indebtedness status.

Tell me,
What I usually do is to take a loan over 3 years and pay in 9 months on Average, all with FNB/Westbank..how does this affect my score? too many loans in a very space of time, but i pay them on time, just quicker! just Maxed my Credit this month(paying it back December)
This won't reflect negatively.
What reflects negatively is:
Installments not paid on time
Missed installments
Overdue amounts
 

eehellfire

Executive Member
Joined
Sep 25, 2007
Messages
9,463
just checked mine... 870
just checked my wife's... 859

that's madness
 
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abzo

Honorary Master
Joined
Nov 18, 2008
Messages
27,855
I can't see a score on my transunion report :confused:
 

MKFrost

Expert Member
Joined
Oct 23, 2012
Messages
3,837
Anybody had any problems registering on Experian and TransUnion?

Tried both. Experian just times out the whole time when clicking on next and stuck at TransUnion at the one time pin I have to enter. Still waiting for their email, did give the right address.

Credit4Life also just gives errors the whole time.

I'm using Chrome... not sure if it is my browser...
 

blunt

Expert Member
Joined
May 1, 2006
Messages
2,325
Where is everyone getting their actual score from? I have accounts at experian and transunion but they dont give an actual score. Credit4life wants me to sms a shortcode which i dont trust...
 

Brewmaster

"That guy"
Joined
Oct 10, 2005
Messages
5,167
Where is everyone getting their actual score from? I have accounts at experian and transunion but they dont give an actual score. Credit4life wants me to sms a shortcode which i dont trust...
I got my score by sms'ing the short code ;)
 

Tander

Executive Member
Joined
Jun 8, 2008
Messages
5,133
My score is 817. Is that any good?

I only have seven accounts open, all with payments made on time - I have never defaulted on any payments, ever. Yet, lol.
 

blunt

Expert Member
Joined
May 1, 2006
Messages
2,325
Got a free one from kudough.co.za - 862.

Got 2 homeloans, 2 credit cards an insurance account and an edgars account.

Have a closed insurance account, a closed cape consumers account and a closed credit card account on my profile and still pretty decent - guess having lots of accounts (i have switched a lot in the past) doesn't affect things _that_ negatively.
 

dabean

Expert Member
Joined
Feb 24, 2004
Messages
1,474
834 with 1 default :mad:

I know exactly what that is, House and Home (Rainbow Finance) tried to put a debit order through on the 27'th instead of the 1'st, and it bounced. By the time I got my next statement they'd handed me over already. Settled the account immediately but it's still on my credit report.

Luckily it doesn't look like it affected my score too much, but I'll never buy from them again.
 

blunt

Expert Member
Joined
May 1, 2006
Messages
2,325
834 with 1 default :mad:

I know exactly what that is, House and Home (Rainbow Finance) tried to put a debit order through on the 27'th instead of the 1'st, and it bounced. By the time I got my next statement they'd handed me over already. Settled the account immediately but it's still on my credit report.

Luckily it doesn't look like it affected my score too much, but I'll never buy from them again.
I had an overdue bill from Virgin Mobile, after I closed my cell phone account with them, over 6 months later I get a call from a debt collection department saying I'm overdue - refused to pay it without an invoice and that went on for 2 months until I just settled it. Had a mark on my credit record for 2 years but it fell away 3 months ago. All the big 4 banks bounced me from getting a home loan because of it - R150 unpaid for 150+ days. Luckily SA Homeloans were decent enough to hear why it was there.

This is why I subscribe to transunion to be able to check my record at any time and get alerts when people enquire.. one small fck up and youre screwed.
 
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