What factors do credit bureaus consider when compiling a credit record and calculating a credit score?

Author
MyProperty
South Africa's #1 independent property portal

Using a complex formula, credit bureaus will compile a record of your personal credit transactions, employment history, and income, they rate your debt repayment performance according to a credit score chart that indicates how well you manage your debt.

Credit bureaus look at the following factors when calculating your credit record:

  • Your repayment history
  • How much you owe
  • The different types of credit you have applied for and how often
  • How long your accounts have been open
  • How much of your available credit you’re using
  • If you have a history of bankruptcy or a judgment against you
Home Loans Property News
Property Watch - 3 Properties for sale in Pretoria
Featured Property
Property Watch - 3 Properties for sale in Pretoria
25 May 2023
Pretoria remains one of the most accessible South African cities for buyers across all price bands because it offers a wide selection of property types, including security complexes and estates. In addition, it boasts highly desirable leisure and lifestyle options, outstanding medical facilities, excellent schools, and first-class tertiary education, including the University of Pretoria, the University of South Africa, and the Tshwane University of Technology.
read more
Should I fix the interest rate on my bond?
Market & Opinion
Should I fix the interest rate on my bond?
22 May 2023
Homeowners and future home buyers often consider fixing the interest rates on their home loans - and with concerns about inflation and rising living costs, this has become a hot talking point once again.
read more
Solar tops the list of features home buyers seek
Market & Opinion
Solar tops the list of features home buyers seek
17 May 2023
As ongoing loadshedding starts to bite deeper and electricity tariffs rise inexorably, interest among home buyers in properties with energy-saving features is picking up considerably. This is according to a survey (with 384 respondents) recently conducted among its agents by national real estate agency, Pam Golding Properties.
read more
What you need to know about buying versus renting a home
Market & Opinion
What you need to know about buying versus renting a home
09 May 2023
Buying a home is a significant decision that requires careful consideration of various factors. When deciding whether to buy a home or whether you should rent, it's essential to evaluate all the pros and cons of both options before you make your decision.
read more
Real Estate Tools
Get pre-qualified
Make offers with confidence knowing what you can afford. Then shop for the best home loan
Bond Calculator
Calculate the estimated repayments on a home loan and savings with extra payments