Credit scores and credit reports

The info below is about your personal credit score (also known as your consumer credit score). Funders providing business finance will refer to the business owner’s personal credit score to determine whether they will grant funding to the business. It is important for you to understand how your consumer credit score works, and to ensure that, prior to applying to a funder, you know what your credit score is and how to improve it if it is not good. If you have not been paying your monthly instalments on time or in full, then this is recorded as ‘defaulting’, and you could be considered a high credit risk. However, if you have never been in arrears, you would be considered a low credit risk and therefore would likely be approved for funding. It is necessary to build up a credit history (i.e. to open accounts with retailers, and pay on time) so that you start to develop a good credit score, in case you ever want to get access to funding.
What is a credit report?

Your credit report is a detailed history of all of your credit activity and payment behaviour that is compiled by a credit bureau. It includes a list of all of your accounts (e.g. clothing, mobile phone, etc.) and all loan agreements you have signed (e.g. car, personal loans, bond etc.), and details whether you have made the agreed payments or not.

The information on your credit report may include:

Personal information

  • Names
  • ID Number and if it could be verified by DHA (Department of Home Affairs)
  • Address/es
  • Telephone number/s
  • Employment information

Payment and credit history

  • Payment Profile
  • Judgments
  • Debt Review flag/indicator
  • Credit Score
  • Fraud
  • Possible Fraudulent information


  • Who has enquired or viewed your Credit Report


What is a credit score?

Your credit score is a number that is calculated by the credit bureaux to indicate whether you are a good re-payer of credit or not. Your credit score is calculated based on the information found in your credit report.

The information used to calculate your credit score may include:

  • Whether you pay according to your credit agreement.
  • Whether your accounts are in arrears or have made payments late.
  • The total amount owing on your accounts.
  • Any negative information such as court judgements.