What is considered a good credit score?

Improving your credit score is a good goal to have, especially if you are thinking about applying for a loan....

What’s your credit score?

All South Africans are entitled to one free credit report a year. It is a good idea to take advantage of this as it will open you up to more financial opportunities and freedom as a resident of this amazing country.

A good credit score means you understand your finances and can make it work for you, not against you. Sometimes, that can help you save money and lead to lower rates on home loans and consumer credit.

What is considered a good credit score?

A credit report shows how you’re doing compared to other consumers. Different credit bureaus adopt a variety of credit score calculation ratios. Your score will generally fall between 300 and 900, or over, depending on the calculation method they use. Higher numbers indicate a more positive and healthy credit history and lower scores mean you have experienced difficulties with your credit history.

A score in excess of 700 is considered to be a very good score and can go towards helping you gain preferential interest rates on credit cards, loans, mortgages and the like. The credit report will let you know where many of your weaknesses are and assist you in improving your score.

How can I improve my credit score?

Your credit score is just like the weather report. It's important since it can help you plan your day, and your financial future, by anticipating any storms that may be coming your way.

If you’d like to improve your credit score, having good financial practices in place is vital! This will ensure that no matter how high or low your current credit standing may be, there are people out there providing loans who will be able to talk with you about getting what you need. Just like the weather, sometimes things may seem cloudy for a while, but there’s always an opportunity for change.

A higher credit score will give you more options when it comes to using loans or lines of credit, and can get you lower interest rates if you do need to borrow money.

To improve your credit, it helps to know what might be working in your favor when it comes to maintaining a good score.

  • Review Your Credit Reports
  • Get a Handle on Bill Payments
  • Aim for 30% Credit Utilization or Less
  • Limit Your Requests for New Credit, and 'Hard' Inquiries
  • Keep Old Accounts Open and Deal With Delinquencies
  • Consolidate Your Debts
  • Use Credit Monitoring Services to Track Your Progress

Improving your credit score is a good goal to have, especially if you are thinking about applying for a loan or one of the best rewards cards available. It will take several weeks, and sometimes months, to see an improvement in your credit score when you start taking certain steps.


Check for arrears accounts

In order to help you on your way to Credit Health, we've teamed up with Transaction Capital Recoveries and MBD Inc. By selecting continue, you give consent that we may check for any arrear accounts on your behalf.

Check for arrears accounts

In order to help you on your way to Credit Health, we've teamed up with Transaction Capital Recoveries and MBD Inc. By selecting continue, you give consent that we may check for any arrear accounts on your behalf.