How Is Your Credit Score Weighted?

Your credit score is an important part of your financial future.

A low credit score can make it difficult to get a loan, a place to live, or that dream job. If you're interested in improving yours, take some time to research everything that affects it so you can grow it steadily.

Your credit report

Specifically, you should pay attention to what goes on your credit report, how bankruptcy works and any other factors that might affect your credit score. Also remember that knowing these things is just the beginning. It sometimes takes time before results materialise, so don't give up.

What your credit score can do

A credit score predicts your likelihood of remaining faithful to your loan obligations and leaves lenders feeling assured that they're making sound investments in you. How do you earn such a solid track-record of honoring your commitments?

By understanding precisely which factors influence it - and to what extent - you can work toward a better score.

How your credit score is calculated

  • Your payment history: Improving your credit score is an ongoing process. You want to do all that you can to help it increase to the highest possible credit score. One of the best ways to do this is by showing lenders that you tend to pay your debts on time consistently. This way, they will feel more confident in lending money to you.
  • Monies owed: Your credit utilisation percentage reflects whether you are maxed out on your credit or if you’re taking your credit card to the limit at 30% of the available limit. You can see that by multiplying your total balance by this percentage and then dividing it into 100.
  • Credit age: Also referred to as your credit history, lenders use it to determine how responsible you have been with your finances/credit in the past. In this case, more experience means a better score.
  • New credit: Before you apply for a new credit card or loan, make sure that you’ve paid off any other debts first. This gives the impression that you are responsible with your paying habits and helps to improve your chances at gaining approval. Don’t wait more than 6 months if necessary though - it could negatively impact your credit rating.
  • Types of credit: You have years of experience being responsible with short-term debt, which is something to be proud of. But long term-debt may very well be a different story for you. It’s important that this point comes across in your credit application.

How your credit score works

A credit score is a number that can show how risky it is to loan money to you. This score is calculated by different credit reporting agencies, which is why different credit scores can be different. Even though credit scores are calculated differently, they are all based on the same information. Your credit report is the most important part of your credit score.

For more tips on how to improve your credit score, contact Credit Health.


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  • Can Your Credit Score Affect Your Job?
  • Check Your Credit Report For Signs Of Fraud
  • Common myths about debt review.
  • Debt Management Tips.
  • Debt Review Is A Good Idea.
  • Default, Judgement, Sequestration.
  • Disputing Errors on Credit Reports
  • Free VS Paid Credit Reports.
  • Frequently Asked Questions about Debt Review.
  • Get your credit report before applying for a loan.
  • Get Your Credit Score Back On Track
  • Good Debt Can Build Your Credit Score.
  • Hard VS Soft Inquiries On Your Credit Report.
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  • How do I get late payment entries removed?
  • How Do I Manage My Debt When I Am Unemployed?
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  • How Long Does Debt Review Last?
  • How To Calculate Your Debt-To-Income Ratio.
  • How To Clear Your Name At Credit Bureaus.
  • How To Improve Your Credit Score After Debt Review.
  • How To Qualify For New Credit With No Credit Score.
  • How To Reduce And Eliminate Debt.
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  • Online Shopping – Just (don't) add to cart!
  • Teaching Children Good Money Sense.
  • The Best Way to Manage your Store Credit Card Account
  • The Pros And Cons Of Debt Counseling.
  • Things You Don't Want To See On Your Credit Report.
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  • Understanding a credit report in South Africa.
  • Understanding Debt Consolidation Loans in South Africa
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  • Warning Signs You Could Be Heading for Financial Disaster
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  • What are credit bureaus and how do they work?
  • What causes credit card debt?
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  • What Effect Does Your Credit Report Have On Your Interest Rates?
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