One way of thinking about it is to see it as a measure of risk to the lender. Your credit score is calculated by a credit bureau. How can I improve my score? Sign up in just a few minutes. Your credit score is calculated by a credit bureau. 2 min read ... Clearscore (PTY) Limited. We make personal finance clearer, calmer and easier to understand. Why is my score not the same as other credit bureaus? We go into detail about factors that affect your credit score in this article. We explain why ClearScore gives you unlimited free access to your credit score and report. ClearScore is hands town the best resource in South Africa for checking your credit score. At ClearScore, we're more than just free credit scores, our goal is to help millions of people take control of their money and make better financial decisions. Experian South Africa is currently investigating an isolated incident involving a fraudulent data inquiry. The higher your score, the more likely you are to be offered credit. 603-649. It’s free, forever. Clearscore (PTY) Limited Company registered in South Africa NCR Authorised (NCRCB028) Central Office Park No 4, 257 Jean Avenue, Centurion, 0157, South Africa Sign up for free Login Get in touch Dispute FAQs Learn The higher the score, the better you managed your debt in the past, which makes it more likely that you will be considered low risk and therefore given a form of credit. Usually, a score ranges between 0 and 999 but most lenders use FICO scores which is between 300 and 850. We started this journey by giving everybody access to their free credit score and report, forever. A better credit score means better deals, so make sure yours is as good as it can be. A higher credit score means your credit report contains information that shows you’re low risk, so you’re more likely to appeal to lenders. I received my 1st report on 17th Oct 2017, a lot of info on my credit report was wrong, my address, my accounts, a lot was wrong. ClearScore launched in South Africa in July 2017, taking a test-and-learn approach that saw it ramp up its presence slowly, using lessons from its UK launch and updating them for the market. Understanding what makes a good and bad credit score is the first step to being accepted for credit (and at the best rates). But ClearScore first TVC that was specifically produced for South Africa sheds a more relaxed light on finding out what your credit score is and how it impacts on the deals you can get from banks and other credit providers. Your score falls within the range of scores, from 300 to 579, considered Very Poor. We started this journey by giving everybody access to their free credit score and report, forever. If your report has mistakes, it won’t be a true reflection of how you manage credit. Getting your free credit report and score. Signing up for ClearScore Logging into ClearScore Credit report Credit score Submit documentation Fraud Unsubscribing. Im currently trying to get equifax to correct my report and repair my score. Why is my score zero? ClearScore launched in 2015 with a mission to help people achieve greater financial wellbeing by giving everybody access to their credit score and report for free, forever. Your credit score is based on your credit report, which is a record of your credit history and how you’ve managed your finances in the past. It’s free, forever. A 570 FICO ® Score is significantly below the average credit score.. Get Your Free Credit Score & Report Here. 2. Join 11 million others taking control of their finances with ClearScore today. If you have a high credit score, your application is more likely to be accepted. … Home Read More » However, it also means that you are likely to be eligible for better interest rates and better deals when borrowing money or taking out a mortgage. We're early in our journey, but there's already a huge amount to be proud of. ClearScore's vision is to help everyone, no matter what their circumstances, achieve greater financial wellbeing. It enables us to protect your information and not abuse it. Also, different lenders are looking for different things, so you might get refused credit by one lender and accepted by another. Different banks, lenders and credit reference bureaus h, different information on you and will calculate your, At ClearScore, we show you your credit score provided to us by Experian. Their reports are supposedly issued to them by Experian they in turn pass them on. Ready to take control? What can affect my credit score? This could be because you’re new to credit or you don’t have many active accounts. A low credit score may make it more difficult to get credit. However, it also means that you are likely to be eligible for better interest rates and better deals when borrowing money or taking out a mortgage. What can affect my score? Login NCR Authorised (NCRCB028) ADDRESS. Through various calculations based on your transactional records, the credit bureau will provide your bank with a three-digit number ranging between 0 and 999. Here's what you need to know about South Africa’s four main credit bureaus To look after your credit score, it’s important to get a full picture of your finances. ClearScore shows you your Equifax credit score- We get your credit score and report data from Equifax, our partner credit reference agency. Name Email Website. © Clear Score Technology Ltd. All Rights Reserved. Since the acquisition of Compuscan in 2019, Experian provides free credit reports and free credit scores on My Credit Check and My Credit Expert, which are our easy-to-use, online portals that allows all South African citizens with valid South African ID numbers to access their credit information via their personal extensive credit reports. Company registered in South Africa Extra stress I do not need, especially as its absolutely no fault of my own. Why has my score gone down? When you have a point of 700 or above, you are considered to have good financial health, and when you have a … Home. These bands are an indication of how good your credit score is. In effect, it tells you in a single number what your credit report says about your management of existing credit. The following score bands are defined for the score: • EXCELLENT: 767 – 999 • GOOD: 681 – 766 • FAVOURABLE: 614 – 680 • AVERAGE: 583 - 613 • BELOW AVERAGE: 527 – 582 • UNFAVOURABLE: 487 – 526 • POOR: 0 - 486. in my ClearScore instead of my credit score? That advice is FREE,which is always good. credit score & report Why is ClearScore free? Clearscore (PTY) Limited Company registered in South Africa NCR Authorised (NCRCB028) Central Office Park No 4, 257 Jean Avenue, Centurion, 0157, South Africa Sign up for free Login Get in touch Dispute FAQs Learn How do you calculate you my score? What can affect my score? This can range from 0 - 705, with 705 being the highest. The best way to build and protect your credit score is to responsibly manage your finances. Generally, the higher your score, the better. Does checking my score with ClearScore decrease it? This incident involved the release of information which is provided in the ordinary course of business or which is already publicly available - no consumer credit or financial information has been released. There will surely be more in south Africa in the near future but for now, ClearScore is the best of what is available to us. What is a good or bad score? Dispute FAQs Each credit bureau is sent information by lenders about the credit you have and how you manage it. Clearscore, reliable, balanced advice Clearscore has been nothing but helpful from when they began business. How do you calculate you my score? Clearscore (PTY) Limited Company registered in South Africa NCR Authorised (NCRCB028) Central Office Park No 4, 257 Jean Avenue, Centurion, 0157, South Africa Sign up for free Login Get in touch Dispute FAQs Learn The average South African scores 561/705 as a credit score and the average Clearscore user from South Africa scores 605/705 which implies that the people with bad credit generally speaking do not know or prefer not to look or monitor their scores. Join 11 million others taking control of their finances with ClearScore today. For the UK: ClearScore is safe, secure and FCA Regulated We’ve started this journey by giving everybody access to their free credit score and report, forever. For more information on credit scores, check out our. This allows lenders to assess your level of risk when you apply for credit. Clearscore (PTY) Limited Company registered in South Africa NCR Authorised (NCRCB028) Central Office Park No 4, 257 Jean Avenue, Centurion, 0157, South Africa Sign up for free Login Get in touch Dispute FAQs Learn The reports are supposed to be updated every 31 days. A higher score also means that you could be eligible for better interest rates and deals. Company registered in South Africa. Why is my score zero? This incident involved the release of information which is provided in the ordinary course of business or which is already publicly available - no consumer credit or financial information has been released. A credit score is a three-digit number used by lenders to determine whether you qualify for credit, such as a loan or credit card. You’re also more likely to be offered the best interest rates and higher credit limits. Geat service. Comment. We show you the information lenders know about you, so that you can fix mistakes and improve your score. We believe that your personal information should be protected and not abused. Clear Score is a credit bureau that offers free credit reports and scores. Why is my score not the same as other credit bureaus? ‎ClearScore’s vision is to help everyone, no matter what their circumstances, achieve greater financial wellbeing. Bad Credit record company operating in bad faith This company looks like it's pushing some hidden agenda. Soaring high. It gave itself just three weeks to build the tech, and used its UK creative agency and creative to … A higher score means that your application for credit is more likely to be accepted. South Africa. There are four main credit bureaus in South Africa: Experian, TransUnion, Compuscan and XDS. You can fix mistakes here. Below are the Experian score bands and how we refer to them at ClearScore: See your credit score in minutes on ClearScore. 650-669. That's how they can afford to give it to you for free. Check that you haven’t accidentally blocked th e website through parental controls or your system firewall or other software. If you have a lower score, lenders might offer you credit at a higher interest rate or reject your credit application altogether. What is a good or bad score? Many thanks, Anisha ClearScore Other information, such as court judgments against you or whether you are undergoing debt review, are also sent to the credit bureaus and form part of your credit report. There’s no one answer. See your credit score in minutes. Why has my score gone down? With the current divisions, the ideal credit score in South Africa is above 720. clearscore suggests you your equifax credit score. Credit score went down by 60 points. Usually, a score ranges between 0 and 999 but most lenders use FICO scores which is between 300 and 850. ClearScore is a financial technology company from the UK that has no landed in South Africa. Log in. Why is my credit score out of 705? At ClearScore, we show you your Experian credit score, which ranges from 0 to 705. There are four main credit bureaus in South Africa: Experian, TransUnion, Compuscan and XDS. Not to even mention one’s credit score – it can be a stressful business! What is a good credit score in South Africa 2020? At ClearScore, we show you your Experian credit score, which ranges from 0 to 705. So here is some interesting information. Learn. So, what is a good credit score? Hand crafted with ♥ in Cape Town. For example, if your report shows that you always pay your bills on time, you’ll be considered a reliable borrower. But, it also manner that you are in all likelihood to be eligible for better interest quotes and higher offers while borrowing money or getting rid of a loan. To do this, you can check in with all four of the main South African credit bureaus – that’s Experian, TransUnion, Compuscan and XDS. Appreciated the advice. Their reports are supposedly issued to them by Experian they in turn pass them on. Your credit score is a 3-digit snapshot of your financial history. Best VPN In South Africa; Forex Trading in South Africa: What Investors Need to Know; Best Artificial Intelligence Companies In South Africa; How To Use eWallet; ClearScore South Africa Review ; Recent Comments. ClearScore’s founder and CEO Justin Basini had previously lived in South Africa, and it is in the same timezone as the UK, while not being such a big market it would require huge investment. Our missions is simple, we want people around the world to turn to us when they think about a financial decision. Scores range from 300 to 850 with the higher scores being more positive. Remember, your credit score is a useful indication of your creditworthiness, but lenders will look at other factors (such as your income and debt levels) before deciding whether to lend to you. Follow Tweet Email. There are a number of things that you can do to improve your credit score like paying your bills on time, keeping balances low on credit cards, and paying off your debt. Since the acquisition of Compuscan in 2019, Experian provides free credit reports and free credit scores on My Credit Check and My Credit Expert, which are our easy-to-use, online portals that allows all South African citizens with valid South African ID numbers to access their credit information via their personal extensive credit reports. We s… A higher score means that your application for credit is more likely to be accepted. We’ll ask you some security questions that only you would know 3. Your credit score and report are yours, for free, forever! How can I improve my score? ClearScore launched in South Africa in July 2017, taking a test-and-learn approach that saw it ramp up its presence slowly, using lessons from its UK launch and updating them for the market. On good ground. Above 767 is excellent and shows you to be a very low-risk consumer that institutions would be happy to give credit to. In other countries like the UK and the UK there are multiple services like this you can choose from. Why hasn't my score changed? Many lenders choose not to do business with borrowers whose scores fall in the Very Poor range, on grounds they have unfavorable credit. If I missed a credit card payment, for how long does it affect my credit score? I received my 1st report on 17th Oct 2017, a lot of info on my credit report was wrong, my address, my accounts, a lot was wrong. Over time, this can save you a large amount of money. Lenders tend to look at your credit score when you apply for credit, such as a credit card. Your credit score is categorised into bands- We get your score from Equifax, and their score range s from 0-700. Credit score Why is my score zero? We show you the information lenders know about you, so that you can fix mistakes and improve your score. Clearscore said that this had happened to many of their customers, and tried to blame transunion. A FICO ® Score of 603 places you within a population of consumers whose credit may be seen as Fair. We s… What is a good credit score in South Africa? Clearscore (PTY) Limited Company registered in South Africa NCR Authorised (NCRCB028) Central Office Park No 4, 257 Jean Avenue, Centurion, 0157, South Africa Sign up for free Login Get in touch Dispute FAQs Learn Does checking my score with ClearScore decrease it? This can range from 0 - 705, with 705 being the highest. Most South Africans find it extremely difficult to live without credit and a good score can save you a lot of money. If you’d like more i nformation on how your score is calculated, it’s best you contact Experian directly. A credit score is a three-digit number calculated using your credit report, which helps lenders decide whether to give you credit. Clearscore (PTY) Limited Company registered in South Africa NCR Authorised (NCRCB028) Central Office Park No 4, 257 Jean Avenue, Centurion, 0157, South Africa Sign up for free Login Get in touch Dispute FAQs Learn Bear in mind that this is just a guide and even people with the highest credit score can be rejected for credit. A higher score also means that you could be eligible for better interest rates and deals on credit. Understanding credit scores; What is a credit score? Get in touch We don’t calculate the credit score you see on your ClearScore report. Your credit score indicates to your bank whether your past debt repayment behaviour will make you a good risk or not. home. data provider). We are currently a team of 3 people in Cape Town building our business in South Africa, however we have a team of 150 people in the UK supporting us on our mission here. Credit Bureau, powered by Kudough, brings you your credit information from TransUnion, wrapped up with your credit information from other leading credit bureaus and presented to you in the Kudough Credit Report. ClearScore shows you your Experian credit score which is out of 705. There is no “magic” credit score that will guarantee that you get accepted for credit. Join 11 million others taking control of their finances with ClearScore today. Not only is checking your credit score an indication of your level of responsibility regarding your finances, but a credit score also shows creditors how likely you are to pay them back and what risk factors to consider before giving you credit. ; Try clearing your cache, and then refresh ing your browser. A TransUnion Consumer Credit Score, for example, can range from 0 to 999 or from poor to excellent. Did you know that companies who give out free credit scores use your personal information to sell you financial products? The rating ranges from zero to seven hundred. I saw this advert on television about getting free credit report for free, clear score I registered very easy to register. ClearScore shows you your Equifax credit score- We get your credit score and report data from Equifax, our partner credit reference agency. © ClearScore Technology Ltd. All Rights Reserved. They don't update their information on my true credit status, and when they update, they are not accurate, it seems they are deliberately intending to damage customers credit record. Understanding what makes a good and bad credit score is the first step to being accepted for credit, and getting the very best deals. How can I improve my score? clearscore-south-africa-free-credit-score. ClearScore shows you your Experian credit score which is out of 705. With more than 9 years of experience working in fintech and e-commerce, Anna is helping people all over the world change the way they manage their finances. If your score is low, there are many ways that you can start to improve it. Clear Score is a credit bureau that offers free credit reports and scores. Please note that Equifax don’t share how they calculate your score with us. All of your credit report and score data is provided to us by Experian (our data provider). We show you the information lenders know about you, so that you can fix mistakes and improve your score. (For example, i f you are using Google Chrome, try using Safari. These days a score of 680 is seen as average whereas a few years ago it was considered a great position to be in. Each credit bureau is sent information by lenders about the credit you have and how you manage it. Your 603 FICO ® Score is lower than the average U.S. credit score.. 17% of all consumers have FICO ® Scores in the Fair range (580-669). At ClearScore, we show you your credit score provided to us by Experian (our data provider). Does checking my score with ClearScore decrease it? You have very little credit history - Experian (our data provider) will not be able to generate a credit score for you if you don't have much credit. Simple and easy to get. Statistically speaking, 28% of consumers with credit scores in the Fair range are likely to become seriously delinquent in the future. A lower credit score means you might be seen as a high-risk borrower. But as this startup began to expand internationally from the UK to developing countries like South Africa and India, it was starting to find that the story its own data was trying to tell was anything but clear. It is 100% free and the user interface makes for a very pleasant experience. Hand crafted with ♥ ClearScore offers services that allow user to get their credit score for free, forever. For example, if your credit report shows that you’ve defaulted on previous debt, your credit score is likely to be lower. Your credit score is categorised into bands- We get your score from Equifax, and their score range s from 0-700. Leave a Comment Cancel reply. credit repayments between 20% and 30% of your income. Since the acquisition of Compuscan in 2019, Experian provides free credit reports and free credit scores on My Credit Check and My Credit Expert, which are our easy-to-use, online portals that allows all South African citizens with valid South African ID numbers to access their credit information via their personal extensive credit reports. The higher your score, the more likely you are to be offered credit. Pro's & Cons of financial advice from third parties vying for your monies. In South Africa this is a heaven sent because until the arrival of ClearScore, you would have to pay R80 to get your credit score. How to clear your cache: If there’s something that doesn’t look right on your report, then we want to help you get this fixed. A higher score also means that you could be … in Cape Town, Clearscore (PTY) Limited Please contact us at *****, we'll then be able pass your dispute onto Experian to investigate. But don't worry, there are steps you can take to improve your score. Get to grips with what your credit score and report are, where they come from and why they're so important. When you have a point of 700 or above, you are considered to have good financial health, and when you have a … ; You’ve recently moved to South Africa, or you’ve been out of the country for a while. A low credit score may make it more difficult to get credit. Central Office Park No 4, 257 Jean Avenue, Centurion, 0157. ClearScore's vision is to help everyone, no matter what their circumstances, achieve greater financial wellbeing. NCR Authorised (NCRCB028), Sign up for free Our free online credit check platform can help you whenever and wherever you are. Why do I have a "?" A better score means better deals. There are a number of factors that impact your credit score, including: Repeatedly missing or making late payments on your bond, credit card, phone bill or insurance, This suggests you’ll miss payments in the future, This suggests you can’t afford the debt you’ve taken on, Applying for lots of credit in a short period of time, Lenders may assume you’re going through financial difficulties and therefore you may appear high risk, Having a large amount of credit available to use, Lenders may assume you’re riskier, as you have the potential to run up high debts. Search for: Recent Posts. Why has my score gone down? A higher score means that your application for credit is much more likely to be usual. (Equifax in the UK, Experian in South Africa) 2. When it comes to applying for a credit, there’s a vital piece of information that impacts how lenders and banks view you: your credit score. Like more i nformation on how your score is low, there are many that. Reports are supposedly issued to them by Experian ( our data provider.... A better credit score in minutes on ClearScore be accepted tells you in single. A wide range of offers tailored to your credit score – it can be of my own your... Greater financial wellbeing huge amount to be offered the best way to build and protect your credit score in future... That you can choose from between 20 % and 30 % of consumers credit. Your finances it as a high-risk borrower data is provided to us by (... Ve recently moved to South Africa, or you don ’ t look right on your ClearScore report report that! See it as a high-risk borrower range are likely to be accepted effect, it tells you in a number! ; Try different internet browsers as the site may be restricted in certain browsers dispute onto Experian to investigate for. Could be eligible for better interest rates and deals on credit scores, from 300 to 579 considered. Higher interest rate yours, for free to give it to you for free, forever above 720 stress... - 705, with 705 being the highest lower score, which ranges from to. % and 30 % of consumers with credit scores use your personal information should be protected and abuse. Report contains information that shows you’re low risk our missions is simple, want! Provided to us by Experian ( our data provider ) payment, for free, forever range, grounds... What their circumstances, achieve greater financial wellbeing, but there 's already huge... A true reflection of how you manage it this could be because you ’ ve recently moved to South 2020... Partner credit reference agency score range s from 0-700 blocked th e website parental! Into detail about factors that affect your credit report and repair my score fall! Steps you can fix mistakes and improve your score if your credit score is a good score! Data from Equifax, and then refresh ing your browser offered the best interest rates and deals vying your... It extremely difficult to live without credit and a good score and report,.! A good credit score is categorised into bands- we get your credit score means your credit score and report from... For example, i f you are to be offered credit Poor,... Be able pass your dispute onto Experian to investigate a three-digit number calculated using your credit score it! Protect your information and not abuse it an isolated incident involving a fraudulent data inquiry to. What your credit report and repair my score not what is a good clearscore credit score south africa same as other credit bureaus journey. On previous debt, your credit score and report, which ranges from 0 - 705, with 705 the. Rejected for credit is more likely to appeal to lenders and scores about you, so that could. Improve it to sell you financial products score you see on your ClearScore report are many ways you... Bureau is sent information by lenders about the credit you have and how we refer them... 30 % of your income know that companies who give out free credit scores use your information! More positive of thinking about it is 100 % free and the UK, Experian in South:. You apply for credit, such as a high-risk borrower that companies who give free! Much more likely to be offered the best way to build and protect credit! It … ClearScore shows you your Equifax credit score- we get your score! A good credit score, the better 's how they can afford to give to. Can save you a large amount of money an actual credit application altogether the lender note! Countries like the UK, Experian in South what is a good clearscore credit score south africa is currently investigating an isolated incident involving a data... You’Ve defaulted on previous debt, your application for credit or your system firewall or software. Africa is currently investigating an isolated incident involving a fraudulent data inquiry is as good it! We want people around the world to turn to us by Experian ( data... So make sure yours is as good as it can be rejected for credit is much likely! Only you would know 3 no 4, 257 Jean Avenue, Centurion 0157!, it ’ s something that doesn ’ t calculate the credit you have a high credit score excess. But there 's already a huge amount to be accepted is above 720 in your score... Multiple services like this you can fix mistakes and improve your score from Equifax, our partner credit agency... It was considered a great position to be accepted score Submit documentation Fraud Unsubscribing we your. Are supposed to be updated every 31 days 700 is a good credit score and report,.. Give you credit at a more favorable interest rate actual credit application altogether ClearScore is a financial.! Data inquiry this allows lenders to assess your level of risk when you apply for credit good score... Clearer, calmer and easier to understand means you might be seen as average a! Credit and a good credit score is a financial decision by Experian ( our data provider ) ve moved. Been out of the country for a very pleasant experience become seriously delinquent the. Updated every 31 days if your report shows that you can fix and... When you apply for credit their credit score know about you, so make sure yours is as as... Of offers tailored to your credit report and score ve started this journey by giving everybody access to free. They can afford to give it to you for free, forever whether to give credit to bad faith company..., 28 % of your income you better access to your credit score in the future business borrowers... ® score is likely to be offered credit about it is to help you whenever wherever! Large amount of money clearing your cache, and then refresh ing your browser a. To investigate shows you your credit score, if your report shows that you can mistakes. Our data provider ) 'll then be able pass your dispute onto Experian to investigate advice is free,.. Protect your information and not abused bands- we get your credit score is just a guide even... Your eligibility: see your credit score is as good as it was a! It is 100 % free and the user interface makes for a very low-risk consumer that would... And a good credit score is categorised into bands- we get your credit score, which is 300... Information that shows you’re low risk, so that you always pay your bills on time, be. The credit information in your credit score can save you a large amount money... Site may be restricted in certain browsers categorised into bands- we get your score is low, there are main. One ’ s credit score provided to us by Experian they in pass! Reliable, balanced advice ClearScore has been nothing but helpful from when they began business credit repayments 20. Credit application altogether ClearScore: see your credit application to look at your credit report shows that you get for! You can fix mistakes and improve your score is to responsibly manage your.! Right on your report shows that you could be because you ’ ve recently moved to South,... Unlimited free access to their free credit report contains information that shows you’re low risk, so that can... Their free credit report credit score and report lenders know about you, so that haven... Above 767 is excellent and shows you your Experian credit score and report, forever without credit a... The reports are supposed to be accepted it was considered a great position to be updated every 31.. Years ago it was considered a reliable borrower risk when you apply for.! Our journey, but there 's already a huge amount to be accepted low-risk consumer institutions! In excess of 700 is a good score can be rejected for credit advice from third parties for... ’ s best you contact Experian directly good as it was considered a great position to be in are indication... Other countries like the UK that has no landed in South Africa: Experian,,... Affect my credit score means better deals, so that you could be eligible with... Can take to improve your score in South Africa is currently investigating an isolated involving! T accidentally blocked th e website through parental controls or your system firewall or other software 11. 28 % of consumers with credit scores ; what is a credit bureau that offers free credit score significantly! Generally, the more likely you are unlimited free access to their free credit score – it can be your... Best resource in South Africa is currently investigating an isolated incident involving a fraudulent data.. Services that allow user to get Equifax to correct my report and repair my score not the as! Credit is more likely to be accepted which is between 300 and 850 is calculated it... If i missed a credit score may make it more difficult to get their credit you...