Your credit report is the record lenders look at when you apply for credit. Checking it before you apply means there are no surprises, and it gives you the chance to fix mistakes that could cost you an approval.
Your right to a free report
Under the National Credit Act, every South African can get one free credit report a year from each registered credit bureau. Checking your own report doesn’t count against you and won’t lower your score.
Where to get it
The main consumer credit bureaus in South Africa are:
- TransUnion
- Experian
- XDS
Each bureau lets you request your report online after verifying your identity. Several reputable free credit-score services in South Africa also give ongoing access to a bureau report. Because lenders don’t all use the same bureau, it’s worth checking more than one.
What you’ll need
- Your South African ID number
- A cellphone number and email address
- Answers to a few security questions about your credit accounts, which the bureau uses to confirm it’s really you
What to check on your report
Personal details
Make sure your name, ID number, addresses and employer are correct. Errors here can lead to someone else’s information appearing on your file.
Accounts
Look through every account listed. Check that you recognise each one and that balances and payment histories look right. An account you don’t recognise could be a sign of identity fraud.
Enquiries
Each time you apply for credit, a lender may record an enquiry. A lot of recent enquiries can make lenders cautious, so avoid applying to many lenders at once.
Adverse listings and judgments
These are the entries that most affect your chances of getting a loan. They include accounts in default, accounts handed over for collection and court judgments.
How to fix a mistake
If something on your report is wrong, you can dispute it with the credit bureau free of charge. The bureau must investigate and get back to you within a set time. If the entry can’t be verified, it must be removed. If you’re unhappy with the outcome, you can escalate the complaint to the Credit Ombud.
Before you apply. If your report shows current adverse listings, it’s usually better to deal with those first. Lenders on the ILSA panel can’t approve applications with active negative listings.
Improving your credit record over time
- Pay every account on time, even if it’s only the minimum
- Keep your credit card and store account balances well below their limits
- Only apply for credit you actually need
- Settle or arrange payment plans for accounts in arrears
Responsible use of credit, including small loans repaid on time, builds a positive record that lenders can see.
Know where you stand?
If your report looks healthy, you can check what you could borrow in about five minutes.
Start my applicationGeneral information only, not financial advice. Instant Loans SA is a credit broker, not a lender.