- Check your credit report often. Know what accounts you have and how much you owe. This will help you understand how to budget so you don’t miss payments. You can check your free full Experian credit report and score at www.mycreditcheck.co.za
- Pay your outstanding debts. If you have a few, start with one, but remember not to neglect payments on the others. Over time, once your outstanding debts are paid, your credit profile will improve.
- Avoid using credit as a convenience. If you’re relying on credit to get through the month, you need to revise your budget instead. Using too much credit can affect your score negatively.
- Check your report for any incorrect information, then dispute it at the credit bureaus. This is a free process, and consumers should be wary of scammers offering to fix reports instantly. Consumers will need to provide a copy of their ID, proof of residence (not older than 3 months), as well as proof supporting their dispute – the bureau may ask for additional information or forms to be completed. The dispute process can take up to 20 business days from the day the dispute is logged by the bureau. The credit bureaus need to investigate the dispute with the credit provider to confirm the accuracy of the data.
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