What is a Credit Score and How to Check It?
A credit score is something we often hear about, but what is it really? A credit score is often spoken about and used as a metric to judge the risk of our customer. This number can make a huge difference in your ability to negotiate credit and get better interest rates, but what is a credit score and what affects this number? Your credit score is designed to show you your credit history and the strength of your credit profile in a numerical form. What factors affect your credit score and how can you increase a credit score? What Factors Make Up Your Credit Score? In South Africa, the top two credit scoring agencies are TransUnion and Experian. While they can differ slightly in their scores and scoring methods, they both look at similar metrics. These metrics are used to produce your credit score. Improving these metrics will help to improve your credit score which can help you to secure better interest rates. These are the main metrics used to calculate your credit score: C...