What the Nedbank credit score feature offers you:
What is a credit score and why is it important?
- While a good credit score doesn't guarantee you a loan, it gives lenders an idea of how you manage credit.
- If your score is in the top range (730), it means you are doing well.
- If your score is in the lower range (closer to 519), you might need a bit of help managing your credit.
- Nedbank’s free credit-scoring tool offers you hints and tips to help improve your credit score and make it easier to get that loan when you need it.
Ways to manage your credit score
- Pay all your accounts on time every month.
- Don't make too many applications for credit at a time.
- As far as possible, try not to use more than 50% of your available credit.
- If at any time you have been unable to manage your debt, check whether a court has issued any judgements or administration orders against your name.
Things that can lower your credit score
- Late account payments.
- Too many credit applications.
- Using all your available credit.
- Having judgements or administration orders against your name.
Learn more about credit scores
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