How To Increase Your Credit Score In South Africa
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- čas přidán 23. 07. 2024
- Discover how to increase your credit score in South Africa. In this video, we will give you 5 simple techniques to skyrocket your credit score within days.
To get your full credit report, visit:
mycreditstatus.co.za
#creditscore #southafrica #improvecreditscore
The south african schooling system needs to make this a subject.
I agree. Graduated last year, here now because school taught me nothing valuable tbh.
My sentiments exactly
The fact that I’m a university graduate and I had to google this. Thank you so much I didn’t know any of this information.
Crazy how schools won't teach you this
Duuude
We In the same team😂
video recorded 2 years ago but still hold thee most valuable information to change people's lives.
Thank you Brother.
This video was beyond excellent. I had no idea that you don’t need to be in debt in order to increase your credit score. Also didn’t know that limiting your credit inquiries helps your score 😢 feels like I’ve been scammed. Thank you kindly!
Brooooooooooooo. thank you for bringing light in my credit life, your content is super doper great. i wish i was famous to share this video to the south africa. thank you
Thank you for the concise, practical information!
Thanks, very helpful information!
you went hard on the call to actions, 😊
thanks for the video
Wow! Thank you very much for this valuable information, it's truly appreciated.
Thank you for Technique 4
Thank you!! It’s was very helpful 🌸
Thank you very much for such powerful, expensive content you giving for free , financial education is the first step to consider before anything else.
True we should have learn this from school
Your tips are really so super helpful
Yes you're right about that, school doesn't teach these basics and the people signing you up for credit cards also don't warn you
Thank you for info
Bru thanks for the wisdom
great content thanks...
such a helpful video!
What an informative video. Thank you
Excellent!
I have never heard this before. I have heard heaps of times that I need debt to increase my credit
This is really good stuff
My credit score is very good (796) BUT i want it to be excellent and I now realise that my credit utilisation ratio is hurting me. My goal is to ensure I pay off my credit card by end of 2023!!! Thank you for this video.
Profound information. However debt is money
This information is super helpful and useful, Personally learned a lot. Please keep it up.
Thank you.
I wish I knew some of these tips sooner. Thanks for the info 👍
You are welcome. I am glad you found them helpful
Me too thank you 😊
You Broke
with a clothing account, whats better to pay instalments it pay everything at once
Hi tanx alot
Thanks for the video, really appreciate it. I always have Enquiries which I don’t understand on my report.
Great info thanks
You are welcome. Please remember to subscribe to this channel to get future notifications
Thank you so much you have helped me with the webinars reduce my debt and clear bad credit record in 2020. Thank you so much for helping regain financial freedom.
Hi Deidre thank you for the kind words. Our mission is to help our fellow South Africans to get financial freedom so we are delighted to hear your success story
I AGREE
This helps a lot🙏🙏
Hi Jabu. I am glad to hear that. What was your biggest takeaway here?
Great info -
Thanks Nicole.
Hi there, do you guys have a base or offices one can go to? (around Pretoria)
Thank you for the info
Any time!
@@MCSsouthafrica how do i solve previous late payments
Interesting.. Been out off work for 2 years...I have 4 accounts to settle.I have started my repayment for one account..Others will settle next year March..
hi i have a few accounts on my credit record that was behind but for +- 1year and a half they have been paid up but still show on my record one of them shows behind payments but that is due to their coleque giving wrong info to me he said he make the debt or and it will be split between the 2 accounts at the end it was only used for one account how can i get them removed .
We learn this at our adult stage after we have been declined for a home loan or so, did not learn this in school ☹️☹️🤦🏻♀️🤦🏻♀️
I only have two insurance accounts, of which there is a predetermined monthly premium. How would debt utilisation be calculated? I was advised by a certain platform to get a credit or store car. Do you suppose this is unnecessary?
Does making credit inquiries for car insurance (like using hippo) negatively affect score? Especially because they can give yiu 9 quotes from one inquiry, does it register as 9 inquiries on my credit score?
Hello so if you into property and because of home loans application, does this decrease the credit score?
"what a bunch of crap" haha i enjoyed that
hi, I'm trying to build up some sort of credit as I have no credit history. I would like to apply for home loan in a year. I would like to know ,is it better to pay off a phone account in 4 months or over a longer period like 12 months. Does it matter how long? I obviously dont want to pay interested over 12 months and would prefer 4 months...which is best?
Can someone unlighten me which one is better to take at capitec credits card or acces facility and which bank is better in terms of credits interest and building better credits score between capitec and standard bank cz I have both
Capitec is cheaper but standard bank has more benefits. But honestly if you're going for benefits go for discovery
What if you don't have any accounts you are paying ?
Hi thank you so much for this informative video🎉so i really need help i dont understand how can i go about asking my lenders to update my payments on time
Hei broe , had a Woolworth’s account that was handed over and I negotiated for settlement amount which I payed but it still under my credit score, its been ober 6 months now
How can I contact Get My Credit Status. The link on the website does not work. And if you call them it is a automatic voice prompt.
Hi there. I had a loan account with Capitec that is now paid off completely. Can I ask Capitec to move the payment history because it’s not paid up?
How can I stop companies to do enquiry on my profile?
Thanks
💯
So how do I fix errors reflecting on my credit report?
Greetings. I have 2 inquiries i need to understand.
1. What is state guarantee? How does it work? ( from what i heard was that, it is the lumpsum a state pays on your behalf if you are an employee of the government and it works mostly in home loans)
2. Is it advisable to pay loans such as personal, vehicle and home loans in advance?
I am not sure about your first enquirh but as for paying loans in advance I don't recommend that, u can call the bank and tell them to debit that amount but they my deduct that money from the capital amount which will reduce your premiums alot, when u pay in advance you will still pay the same interests, they will just deduct your normal monthly premiums
Very informative but help here where can l report credit institutions who view your credit profile in a fraudulent way bcz l never went to open a credit with them?? It really gives a knock on my credit
If you have a gym membership or Apple Music accounts does this help credit score?
No. Get a Vodacom sim data contract or a edgars/identity card to start with. Don’t spend more than 30% of the credit they give you and pay it on time.
Hi I have no outstanding debt however , however I was Ill advised to take unsecured loans to boost my itc rating which has been contrary because it has gotten worse.i have things like investment and funeral policies in my debit orders. What else would you recommend or advise perhaps?
Please never listen to the person again who gave you that terrible advice. You can ask your funeral cover provider to post your payment behaviour to the bureaus. You can also take out insurance. Most of them also post to the bureaus.
A clothing account will do, and make sure you pay your instalments regularly and on time. It will increase your credit score. Also avoid apply for too many credits in a short space period as it makes too many enquiries on your name and that affects your credit score. Hope this helps
I have a funeral cover with Sanlam and Medical Aid with Bonitas. Will those increase my credit scores if I ask the Credit Bureau to check them out?
No
Can you help I do have any outstanding debt but my score do not increase why is that
Create your own school to teach us people, dropping knowledge of the gods here
thank you very much.
now only one question.
i paid of all my debt my issue is removing missed payments. can you maybe refer a company that can help me with that? a lot of fake and scam companies. only need missed payments to be removed. all my debt is paid in full
I want to fix my credit score . When open my credit report I found out there is debt review which I never sign any contract with them. Now I only left with 800 to finish paying my debts. How can I get clearance certificate in this situation.
Hi.what about dept that's older than 3 years.i lost my job after a big car accident. Couldn't pay for more than e years but they are stil listed as bad debts
If the creditor didn't try and claim this debt from you in any way during these 3 years and you didn't acknowledge it then the debt is prescribed which means it needs to be removed from your report. If the creditor did try and claim it then it's not. I would however dispute it because bad listings are only supposed to show for 2 years.
I'm 25 and I have 796 score but I don't understand how credit scoring works cux a lil over 3 years ago at a dealership they told me I had no credit Cruz I paid cash for everything. Now I have discover it credit card with $4500 limit and I no car payment and that's it. I only make 54k a years but some of my friend make the same or more and they had credit for then 15 yes and they have lower score than me. I'm really appreciate hackerlewis that got it fixed it back for me.
So if you pay balance your score chances
Do I pay to get a report
After finishing my debt review payment I was told to open an account to build up my credit score, I already have car insurance, cellphone contract and internet account.
That's more than enough to get you to a great score again! Keep it up
@@MCSsouthafrica Thank you, I had a problem that I still owe some creditors only to find out I have to update all creditburous with my current status, it is now increasing and I'm waiting for response from Experian an Compuscan to do the updates as well. How long do I have to wait after these updates before looking for a home loan? I'm tired of renting now that bad debts are out of my way I want a house.
@@pablozification You will have to wait up to 60 days. The credit bureau has 30 days to respond to your dispute. If they have not then you can report it with the NCR.
I'm 25 and I have 796 score but I don't understand how credit scoring works cux a lil over 3 years ago at a dealership they told me I had no credit Cruz I paid cash for everything. Now I have discover it credit card with $4500 limit and I no car payment and that's it. I only make 54k a years but some of my friend make the same or more and they had credit for then 15 yes and they have lower score than me. I'm really appreciate hackerlewis that got it fixed it back for me.
@@MCSsouthafrica which insurance companies to be specific that list payments behavior on the credit profile?
How long does a default account stay on
my report after I have paid it off?
2 Years but as time passes, your credit score will increase as well
I'm 25 and I have 796 score but I don't understand how credit scoring works cux a lil over 3 years ago at a dealership they told me I had no credit Cruz I paid cash for everything. Now I have discover it credit card with $4500 limit and I no car payment and that's it. I only make 54k a years but some of my friend make the same or more and they had credit for then 15 yes and they have lower score than me. I'm really appreciate hackerlewis that got it fixed it back for me.
Please explain what is overdraft
a overdfart basically say you get 15000 rand every month that is your monthly salary ,okay now instead of a credit card you ask the bank i want a overdaft on my monthly pay .So what the bank then does they work out the amount on your salary scale for you qualify for say you can get to R10 000.Now here is the turning point the bank then pay you that 10 000 rand straight into your bank account its a extra amount thats always avalaible on top of your monthly salary to use and is always avaible there for you when you need it say your fridge broke dont stress no worries with credit cards you can still afford a new fridge in cash but somehere you still need to keep your payment decent up to date with your overdraft .Its way better then a credit card i myself prefer a overdfraft over a credit card .A overdraft renember you qualified for 10 000rand example you can make a plan to pay clean a 10 000 rand overdraft but what do you do if the bank whants their money and you sit with a 100 000 rand credit card .I hope this helps you a bit shir madam
The company I owe closed down and I can't get a hold of them I just wanna pay they are damaging my credit what do I do
You can also reach out to the credit ombud to help you
Does it help to have a Rain Account & how do I make it reflect on my credit score, if I don't need to open a debt account?
I submarine under this question 🙏🏽
Hi guys, I don't have any credit or bad debts, etc, I have paid my house and car loan up years ago, yet I have been advised that my credit score is too low to qualify for credit, this strange, I have update bank statements, pay slips, etc, why cant I get credit, thank you in advance,
How long does it take for inquiries to be removed from your credit score?
12 months
a full year 12 months
@@amandabooysen1872 oh wow. I had a court judgment against me. But I paid it off recently. How can I get that removed against me? Really trying to improve my credit score here. And for what it’s worth I’ve gone up with 30 points in the last 3 months. For me that is a lot
Thanks BUT your score will not "Sky rocket over night" it takes 3 PLUS Months (6 Months depending how bad it is) of healthy spending to get your score up, a paid up loan for instance can take up to 45 days for the bureau's to acknowledge......
Hi, do i have to pay for a credit report???
You get a free one once a year. My Credit Check is good or My Credit Expert. Most companies use Expedia which these two are linked to. Some use Transunion.
Can you freeze your credit report to prevent other companies from viewing your credit score unless they have permission from me? Reducing hard enquiries and credit fraud?
No
If you use zero then you should get an excellent score?
It shows that you don’t have debt, but it doesn’t show that you can manage debt.
Please send through the list of companies that report to the bureau without getting into debt
Some rental companies do. Telkom and most insurance providers also report to the bureaus
I'm 25 and I have 796 score but I don't understand how credit scoring works cux a lil over 3 years ago at a dealership they told me I had no credit Cruz I paid cash for everything. Now I have discover it credit card with $4500 limit and I no car payment and that's it. I only make 54k a years but some of my friend make the same or more and they had credit for then 15 yes and they have lower score than me. I'm really appreciate hackerlewis that got it fixed it back for me.
Hi i have old debits in my credit score how can i remove them
Hi Sibu, unsecured debts prescribe after three years if you haven't made any payment or acknowledge them within the 3 years , you can dispute this with the credit bureaus , if its valid they will remove it
Thank u so much
@@Esromite Just to add to that. Within these 3 years, the creditor also shouldn't have requested any payment.
If the debt is not prescribed then it should fall away within 2 years. If not then you can dispute it
Please help , I have a lot of enquiries and it has dropped my credit profile badly 😞
Stop applying for 12 months, they will all be gone. Hard enquiry stay on your profile for 12 months.
Short and thin to the point
How do i remove my hard errors
I had an EVICTION JUDGEMENT -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- and quite a number of other negative items on my report with a low 400's CREDIT SCORE. These prevented me from getting a mortgage until I starting looking for help. After he finished working on my REPORT in just 7 days, my CREDIT SCORE increased to 780, all the negative items on my REPORT were deleted permanently and he added good trade-lines to boost my credit mix (Mortgage tradelines, Installment tradelines, Revolving credit cards and Auto tradelines) on my report, I got the mortgage and that was phenomenal! Creditrepairport on telegram
chile i’m a 25 yo with two degrees but idek how a credit card works welppp
I will pin this video as I am in the journey of improving my credit score
I lost my job 5years ago but they still call me even though I sent them proof of retrenchment,ever I never pay them
This thing increase by 2 points but decrease by 20 pints. I have been debt free for over a year, before I was st 598 and now I am at 620. I went to buy some clothes with my card since I have not used it for a year and a half and it droped by 20 points. I am at 600 as I write this. I give up.
When your accounts are not used your score drops too. Buy something cheap and pay it off over 6 or 12 months. Keeps the account active.
This is great advice I am starting tomorrow. Can you assist with contact details who I can get in touch to go thru me with my report. So we can update my report.
And I am a client of my credit status.
Hi Linda. Are you a monthly subscription member? You can contact us at support@mycreditstatus.co.za
I'm 25 and I have 796 score but I don't understand how credit scoring works cux a lil over 3 years ago at a dealership they told me I had no credit Cruz I paid cash for everything. Now I have discover it credit card with $4500 limit and I no car payment and that's it. I only make 54k a years but some of my friend make the same or more and they had credit for then 15 yes and they have lower score than me. I'm really appreciate hackerlewis that got it fixed it back for me.
I am desperately trying to increase my credit score as I am applying for a home loan. I short-payed with R70 a monthly revolving credit payment and now my score is affected. So I settled and closed the account of R2800, but now I realise from your video that this may also adversely affect my score. I just don't know what to do anymore! Can someone please give me advise.
As he said, you could open non-credit accounts like data contract or some insurance or policy and stay up to date as opposed to taking up more credit
Obvious points
I'm 25 and I have 796 score but I don't understand how credit scoring works cux a lil over 3 years ago at a dealership they told me I had no credit Cruz I paid cash for everything. Now I have discover it credit card with $4500 limit and I no car payment and that's it. I only make 54k a years but some of my friend make the same or more and they had credit for then 15 yes and they have lower score than me. I'm really appreciate hackerlewis that got it fixed it back for me
I have a decent income. But my credit score is crazy low. I am now trying to fix this and build proper wealth for my future. I desp need guidance. Can I somehow contact you for some questions etc