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Credit Reports and Credit Scores
What do you want to know?
Search for your questions on Credit Scores and Credit Reports or ask for assistance on "Live Chat"
Frequently asked questions
Your score is a reflection of how well you manage your accounts and your credit risk profile. Your score might be low due to the fact that you haven't used any credit for a while, so there will not be any information to show that you have a good history of paying off credit.
This is one of the main factors that Credit Providers look at when calculating your credit score. Savings, do not have an impact on your credit score. In actual fact, the Data Protection Act means that a Credit Reference Agency is not allowed to hold this data.
Many things can influence your Credit Score:
- A credit history of fewer than 6 years. This is the timeframe used to calculate your total credit score. A shorter credit history means that the Credit Provider has less information to base their score on.
- Missed or late payments over the last 6 years.
- Having only one or two accounts means there will be less credit history available on your profile.
- Court Judgements or record of insolvency.
- High credit limts - even if they are not being used. The high credit limit adds to your total accessible debt. It implies that you can still access all this debt if needed and will thus affect your credit score. Reduce credit limits.
- Balances on your accounts that are very close to the credit limit indicate that you rely on credit to get through each month.
Negociate Credit Solutions aims to help people make better financial decisions. We have aligned ourselves with FinCheck that will help you make better decisions by viewing your credit report and credit score. You can sign up for the MyFincheck Credit Score Tool and get your FREE score directly here.(https://my.fincheck.co.za/negociate-credit-solutions) Or, if you want to learn more about the tool, you can read about the features .
Here's to your better financial future!
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