(Actually, there are a lot more than that, but it's mainly a certain trio that affects most consumers' lives.) To do this, you can check in with all four of the main South African credit bureaus – that’s Experian, TransUnion, Compuscan and XDS. Compuscan have experienced international  growth after their establishment in 1994. She knows all about personal finance, but as a student, she's an expert in money saving tips and tricks. Now it promotes itself as “the leading global information services company.” The firm “employs approximately 16,000 people in 39 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK and São Paulo, Brazil.”. The Credit Bureau Association (CBA) is a voluntary industry body, representing 11 of the registered credit bureaus within South Africa. Their South African head office is in Johannesburg. They provide information on both consumers and businesses over wide scope including  Auto Information Solutions. Actions you can take to get a better credit score, What to do when you are behind with payments on your credit agreements, This error message is only visible to WordPress admins, https://www.youtube.com/watch?v=RArQC2nktWc&t=22s, https://www.youtube.com/watch?v=6NnTo-9n4Ns, https://www.youtube.com/watch?v=HqhT8YBTGN4. Assessments range from business attributes to underlying investments and are all designed to offer a picture of the likelihood of the borrower to be repaid. Make sure this account has posts available on instagram.com. Credit information is often not reported with the same accuracy across all three credit bureaus, so it is important for consumers to check each report and score. Loan amounts vary from lender to lender. provides consumer credit information on individual consumers for a variety of reasons is For COVID-19 updates, visit the official government website Also, you can see a free snapshot of your credit report on Credit.com. Trans Union the largest Credit bureau in South Africa. Different creditors will report to different bureaus – some may report back to all four and others may only report your information back to one or two. XDS believes that customer value management has largely replaced old fashioned credit management. The 3-in-1 Credit Health … To do this on ClearScore you can raise a dispute directly with Experian. They are committed to high values and morals and strive to serve the African credit markets with transparent accurate information. Your credit score impacts the size of a loan you can qualify for, the interest rates you pay on those loans or on a credit card, and sometimes even your renting and employment opportunities. All the credit information from Experian, TransUnion and XDS consolidated in a single report. We explain what you need to know about South Africa’s four main credit bureaus. This includes personal data, such as name, address, Social Security number, and date of birth. Peace of mind when your loved ones need it most! XDS is the largest locally owned credit information bureau in South Africa, with subsidiary operations in Ghana, Nigeria and Zimbabwe. In the U.S., there are several different credit bureaus, but only three that are of major national significance: Equifax, Experian, and TransUnion. These scores have historically been based on the FICO® Score associated with the data-analytic company originally known as Fair, Isaac, and Company (the firm’s name changed to FICO in 2009). Credit bureaus package and analyze consumer credit reports from which credit scores are derived. All credit bureaus are regulated by the National Credit Regulator, in accordance with the National Credit Act, 34 of 2005 and the Regulations and amendments pertaining thereto. The three credit reporting agencies are TransUnion, Equifax, and Experian. The following are some highlights of each of these credit bureaus. It’s definitely worth taking advantage of this and checking in with each credit bureau. If you are delinquent in making mortgage payments, Sallie Mae can report you to a credit bureau—typically after the 45-day mark. You can get free access to your Experian score and report as often as you like through ClearScore. XDS solutions cover the entire business cycle of the company and credit life cycle of the customer. It also includes credit history, including debts, payment history, and credit-application activity. The higher the score, the lower the credit risk a consumer is deemed to be—and the higher their creditworthiness. In order to get the best loan terms available, bring all three credit scores to your loan appointment. Hannah is currently studying for a Master's in Comparative Cultural Analysis. The agencies also rate the particular debt obligations and fixed-income securities the companies issue. A mortgage lender examines reports from all three credit bureaus because such large amounts of money per consumer are involved; it often bases the approval or denial on the middle score. The companies also rate insurance companies for financial solvency.