Knowing how to check your credit health is essential for financial security in South Africa. Your credit record affects loan approvals, interest rates, and even renting a home. A good score gives you better options, while a poor one limits your choices and costs you more.
The good news is that checking your credit health is simple, and improving it is possible with the right habits.
Why Credit Health Matters
Your credit health tells banks and lenders how well you handle debt. A strong score signals that you are reliable and disciplined. It helps you:
- Qualify for loans and credit cards.
- Secure lower interest rates.
- Avoid rejections that can harm your profile.
It also protects you from fraud and builds confidence in your financial future.
How to Check Your Credit Health in South Africa
The National Credit Act gives you the right to one free credit report per year from each registered bureau. South Africans can request reports from TransUnion, Experian, XDS, and Compuscan (now part of Experian).
Steps to follow:
- Request your free report
Visit TransUnion South Africa, Experian, XDS, or Compuscan. Register online and download your report. - Review your information
Check all accounts, balances, judgements, defaults, and payment history. Look for suspicious or duplicate entries. - Dispute errors
If you find mistakes, contact the bureau directly. By law, they must investigate and resolve disputes within 20 business days. - Monitor regularly
You are entitled to one free report per bureau annually. If you want more frequent updates, you may need to pay for extra reports or subscribe to a monitoring service.
The National Credit Regulator (NCR) also offers resources to help you understand your rights: ncr.org.za.
What Affects Your Credit Score?
Credit scores in South Africa usually range from 0 to 999. A higher score signals lower risk. While scoring models differ, the main factors are consistent:
- Payment history: Paying on time is the biggest contributor to your score.
- Credit utilisation: Keep your balances low. Using more than 30% of your available credit hurts your score.
- Length of history: Older accounts add stability to your record.
- New credit applications: Too many applications in a short time suggest financial stress.
- Credit mix: A variety of credit types (loans, store accounts, cards) strengthens your profile.
Ways to Improve Your Credit Score
Improving your credit score doesn’t happen overnight, but small steps make a big difference.
Practical tips:
- Pay accounts on time – set reminders or debit orders to avoid late payments.
- Lower your balances – aim to use less than 30% of your available credit.
- Keep older accounts open – they add to your history and stability.
- Limit new applications – apply for credit only when necessary.
- Diversify cautiously – having a mix of credit types helps, but only if you manage them responsibly.
- Fix mistakes quickly – dispute incorrect listings with the bureau.
- Be consistent – steady behaviour builds lasting results.
What the Experts Recommend
- Standard Bank South Africa suggests avoiding new debt while repairing your record. They stress patience, as improvement takes time.
- TransUnion advises against applying for too many accounts at once and highlights the importance of regular monitoring.
- The Consumer Financial Protection Bureau (CFPB) emphasises that payment history and credit utilisation are the most important factors.
Mistakes That Hold You Back
- Ignoring your report until you need a loan.
- Closing all accounts after repayment.
- Applying for multiple loans or cards in a short time.
- Overlooking fraudulent or incorrect entries.
Avoiding these mistakes helps you protect your progress.
Moving Forward
Learning how to check your credit health is the first step to taking control of your finances. Once you know where you stand, you can take clear steps to improve your score.
If you feel overwhelmed, a registered debt counselor can help you plan your way forward. With patience, discipline, and support from trusted institutions like TransUnion, Standard Bank, and the NCR, you can strengthen your credit health and open the door to better financial opportunities.
Related: How to Apply For a Capitec Bank Credit Card on The App