What are credit bureaus and how do they work?

Credit bureaus keep a record of your credit history.

Understanding credit bureaus.

Your credit reports carry so much weight and can define your financial choices and outcomes. The companies in charge of compiling and selling your credit report have a great deal of influence over your financial life.

These companies are known as credit bureaus.

Credit bureaus keep a record of your credit history. This is why they're also known as credit reporting agencies. They collect information about you from banks and other lenders who might have extended a loan or credit to you in the past, and they will provide you with a report on your creditworthiness.

What do they do?

Credit providers such as banks and clothing stores all send information about your accounts, your payment history and missed payments to the major credit bureaus in South Africa. The credit bureaus compile this information into a report known as your credit report. They also use this information to calculate your credit score, which is a single number used to determine your creditworthiness.

Lenders can approve or reject you for lending agreements based on the information in these reports. With that being said, payment histories are also often taken into account, along with other factors in an effort to develop a clear picture of each individual's overall payment habits and whether they are deemed responsible in dealing with their financial obligations.

Do the credit bureaus make lending decisions?

No. Credit bureaus provide some of the information creditors and lenders use to help them make important lending decisions. Lenders rely on credit report data to help determine whether they choose to approve applicants for financing or not. While the bureaus act as an aggregator of details around specific consumers' borrowing habits, it's ultimately up to individual lenders or creditors if they want (or don't want) to offer someone a loan based on their circumstances.

Credit bureaus collect and store your credit history data which is used to calculate your credit score.

Credit bureaus collect and store your credit history data which is used to calculate your credit score.

  • 10 common credit score myths.
  • 5 ways to pay your credit card debt.
  • 8 most common credit terms.
  • A Guide On How To Get Out Of Debt.
  • Blacklisting, is it still a thing?
  • Breaking Bad Debt.
  • Build Your Credit Score While You’re Young
  • Can I Get A Loan While Under Debt Review?
  • Can Your Credit Score Affect Your Job?
  • Check Your Credit Report For Signs Of Fraud
  • Common myths about debt review.
  • Debt Management Tips.
  • Debt Review Is A Good Idea.
  • Default, Judgement, Sequestration.
  • Disputing Errors on Credit Reports
  • Free VS Paid Credit Reports.
  • Frequently Asked Questions about Debt Review.
  • Get your credit report before applying for a loan.
  • Get Your Credit Score Back On Track
  • Good Debt Can Build Your Credit Score.
  • Hard VS Soft Inquiries On Your Credit Report.
  • Have I Been Blacklisted?
  • How do I get late payment entries removed?
  • How Do I Manage My Debt When I Am Unemployed?
  • How do I read my credit report?
  • How is your credit score calculated?
  • How Is Your Credit Score Weighted?
  • How Long Does Debt Review Last?
  • How To Calculate Your Debt-To-Income Ratio.
  • How To Clear Your Name At Credit Bureaus.
  • How To Improve Your Credit Score After Debt Review.
  • How To Qualify For New Credit With No Credit Score.
  • How To Reduce And Eliminate Debt.
  • Judgements, Administrations and Listings
  • Online Shopping – Just (don't) add to cart!
  • Teaching Children Good Money Sense.
  • The Best Way to Manage your Store Credit Card Account
  • The Pros And Cons Of Debt Counseling.
  • Things You Don't Want To See On Your Credit Report.
  • Tricks To Help You Save While Paying Off Debt
  • Understanding a credit report in South Africa.
  • Understanding Debt Consolidation Loans in South Africa
  • Vehicle instalments driving you to despair
  • Warning Signs You Could Be Heading for Financial Disaster
  • What Affects Your Credit Score?
  • What are credit bureaus and how do they work?
  • What causes credit card debt?
  • What do credit bureaus know about me?
  • What Effect Does Your Credit Report Have On Your Interest Rates?
  • What Happens To Your Credit When You Get Married?
  • What Happens When I Skip A Debt Payment?
  • What Happens When You're Debt Free?
  • What is a credit score?
  • What is a credit utilization rate?
  • What Is A Decent Credit Score To Buy A Car?
  • What Is A Good Credit Score If You Want To Buy A House?
  • What Is A Hard Inquiry And How Does It Affect Your Credit Report?
  • What Is A Soft Inquiry And How Does It Affect Your Credit Report?
  • What Is Considered A Bad Credit Score?
  • What is considered a good credit score?
  • What Is Debt Administration?
  • What Is Debt Counseling?
  • What Is Debt Review?
  • What’s the difference between your credit score and your credit report?
  • Which Type Of Credit Carries The Most Risk?
  • Why Debt Counseling Is Perfect For You.
  • Why Did My Credit Score Go Down?
  • Will checking my credit report affect my credit score?
  • Your Best Defence Against Identity Theft Is Your Credit Report
  • Your Credit Score: The Basics.
  • Show More

    Check for arrears accounts

    In order to help you on your way to Credit Health, we've teamed up with Transaction Capital Recoveries and MBD Inc. By selecting continue, you give consent that we may check for any arrear accounts on your behalf.

    Funeral Cover Application

    You will be redirected shortly to complete the signup process

    If you are not redirected, click here.