How To Check If You Have Been Blacklisted In South Africa
We shall attempt to clarify the term “poor credit,” which can be a bit ambiguous. If you have ever been denied by a lender for services like credit cards, payday loans, car financing, home loans, or unsecured loans, it might just be that your score is lowdid not meet their minimum requirements. If you also have a judgment or default listing against your name, or if you are currently undergoing debt review, this can also have an impact.
How to determine if you have been placed on a blacklist
Your credit history—both the positive and negative facets—is maintained by credit bureaus. Negative statistics may include blacklisting, defaults, or late payments. The most serious of them is being placed on a blacklist, which will harm your ability to obtain financing. Theoretically, it shouldn’t be possible for you to be placed on a blacklist without knowing about it, but it may and does happen. It’s crucial to verify to make sure you’re not on a blacklist. Fortunately, it’s simple.
Every year, one free credit report is available to South Africans. These are simple to find and may be completed online in about a minute. You can also order them via phone. Some credit bureaus have made it even simpler by setting up an SMS service where you may determine whether or not you are banned. Despite the fact that this is helpful,in order to obtain your complete credit report.
Blacklists currently include about 6 million South Africans, therefore it is better to be aware of this than not.
Make important to research this before applying for credit so you are not taken off guard. It’s also possible for your credit report to have inaccurate information. Knowing about any blacklisting will give you the power to take action against it.
If you are blacklisted, it will seriously hinder your ability to obtain credit and, even if you do, result in a considerably higher interest rate. Additionally, it may keep you from receiving some jobs where a credit check is required.
Where to check
TransUnion
Transunion, one of the biggest credit reporting agencies in South Africa, offers an SMS option
to see if you are on a blacklist. For a little cost, the service can also provide you with your credit score, account status, and a credit summary. Keep in mind that you are entitled to one free complete credit report each year.
You must first register using the UUSD code *120*8801# from your primary cell phone number in order to utilize the SMS service.
Visit Transunion’s website to view your free annual credit report.
Experian
You can receive a free credit report each year from Experian, another significant South African credit bureau. Simply register on their website to receive yours.
Compuscan
Additionally, Compuscan makes it simple to obtain your yearly free report on their website.
These are the top three, albeit there are still others.additionally independent services that provide you access to your credit data. It is worthwhile to check to see if there are any mistakes or merely to be aware of any problems. In any case, there are steps you may do to fix the problem with a little work.
