Free blacklist credit checks will help you to find out whether you are blacklisted in South Africa at no cost to you. Whether you are looking for a loan to finance a new car, go on a vacation or to borrow money for personal reasons.
The best thing to do before you approach any credit provider is find out if you are blacklisted. And if your own individual credit record is bad. It may be an advantage knowing how a potential credit provider views your financial history.
For instance, if there are any mistakes and someone places a black mark against your name in error. You will want to clear this up and sort it out before you fill out any application forms.
Every credit active consumer in South Africa has a record of their financial credit history. Month after month via credit providers reporting data to the different credit bureau’s.
If you have store accounts, a credit card, a home loan or vehicle finance etc, you are being recorded continuously. According to how well you make your regular repayments on those accounts.
This may also interest you: Blacklisted and in need of a Loan?
Blacklist Credit Checks – What do they Look Like?
SA law entitles you to one credit report a year. At no charge from a credit bureau such as TransUnion (formerly known in South Africa as ITC).
Your personal “payment profile” or “account history” is what is important. It reflects account payments that you make on time to credit providers. As well as missed payments and late payments. Whether you have been handed over to a lawyer for collection or not.
This record will also indicate any accounts that are over three months in arrears and the credit provider puts that you are in default. Or “blacklisted” you as many people seem to refer to it these days.
You can visit the TransUnion website for more information here: https://www.transunion.co.za/
If you have applied for credit in the last two years or how often you may have applied, or have had any court judgments against you. This information all goes on your personal report.
When you approach a bank, shop or any other financial service provider to open an account, apply for a loan or other types of credit. The first thing the credit provider will do is contact the credit bureau for access to your personal credit report.
They will then use your report as a large part of how they determine whether or not you will qualify for the credit you apply for.
This is why it is important and will help you to apply for your own free personal credit report check. To know yourself who has blacklisted you recently or in the past.
Know Your Credit History
Scrutinize your financial history on a regular basis. So you can be certain that the way you manage your personal debt is accurate.
As stated above, the way you obtain a copy of your financial history is by approaching the credit bureau.
The easiest and quick way is to go online and apply for your free credit report from TransUnion (formerly ITC) which can be done conveniently from their website.
You can go one step further and get your report with notifications. Meaning they will inform you via text message or email when there are any key changes on your report.
At the end of the day it is all of our responsibility to keep our different account payments, credit card payments etc up to date. And make sure we handle our financial lives responsibly.
Keep up to date with how your credit providers are reporting on your finances by downloading your free credit check report. Find out if and why a creditor has blacklisted you and if they consider you creditworthy.
To Summarize
In summary it’s a good idea to keep track of how well your doing with the way you manage your finances.
Lenders are more willing to lend money to people who are responsible with their money.
So before you apply for a loan get your free blacklist credit checks report to see if you are blacklisted in South Africa.