Get a Free Credit Report

The purpose of a credit report is so that a lender will be able to decide whether to give credit to a borrower or not but this is dependant on what the credit history looks like; The Fair Credit Reporting Act allows credit bureaus to sell your credit report for a variety of purposes.

As an individual, you are also permitted to obtain your free credit report from the three major credit bureaus in South Africa. It might be advisable to get a comparison from the three major bureaus in order to spot any discrepancies, and to get the best credit scoring possible for obtaining credit. It is also a good idea to be aware if any mistakes have found their way onto your credit report, which could easily affect your credit rating. These could include duplicate entries, amounts not removed, and other errors that might appear on your credit history that should not be there.

The credit report can be sold to potential employers, but you have the upper hand and confidentiality on your side and this private information will only be released once a form has been signed by you, the individual, for the release of this information.

Your credit information can also be sold to organizations that will make a decision with regards to allowing you to get credit.

To keep your finger on the pulse at all times and to detect credit fraud that has been committed, get your free credit report so that you will be able to find out if anyone tries to steal your details and take out credit fraudulently by using your personal details.
For more on obtaining a free credit report contact us today for further details.

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