How To Improve Your Credit Report?

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Your credit record is essentially a report on how well you manage your credit. The credit system is based on trust, but people are people and creditors cannot tell how trustworthy a consumer is with credit, unless they have a record of how the consumer behaves with his or her credit. Thus, this information is used by creditors to help determine your credit score and hence your creditworthiness. Prior to the implementation of the National Credit Act, you could be declined credit merely on the basis that you have not made use of any credit in the past and as such, you have no solid credit history by which potential future credit providers could assess your ability to repay your accounts. This is no longer allowed under the National Credit Act and you have the right to receive reasons in writing for why your credit application has been declined.

Should your credit record be a factor, it is advisable that you obtain a credit report as soon as possible and have it assessed by a professional to determine whether there is any negative information on your credit report that may prevent you from obtaining credit.

Consumers are entitled to a free copy of their credit report once a year. The credit bureaux contact details are as follows:

• Transunion – 0861 482 482 or www.mytransunion.co.za

• Experian – 0861 105 665 or www.experian.co.za

• XDS – 0860 937 000 or www.xds.co.za

• Compuscan – 0861 514 131 or www.compuscan.co.za

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Please send a copy of your credit report to bookings@blackfeegures-debterazer.com. Should you not be able to obtain a free credit report anymore, please contact us.