What is a good credit score rating here in South Africa?

What is a good credit score rating here in South Africa?

Credit is a universal language, almost all countries run on credit through their businesses, individual or organisational. Credit is an economical factor and each country has its own credit score rate.  

Credit score is a number from 0 to 999 and is calculated by using all the details on your credit report.  

In South Africa (SA) if you have such a credit score (650 and higher) that’s great. If you don’t and you want to qualify for the best loan terms possible, you will have to improve your credit score.  

Credit providers use your credit score to determine whether you qualify for a loan and how much interest you should pay. A high score indicates a low risk borrower, while a low score means a high risk borrower. The following is a rough guide to credit score rating here in SA the Delphi system (used by Experian).  

650+: Excellent credit. These individuals will easily obtain credit and receive very low interest rates. 

600 – 650: Very good credit. These borrowers can get the best loan programs and offers at a good rate. 

550 – 600: Good credit. Individuals with this score will receive good deals at an acceptable rate. 

490- 550: Sub-prime. These people may struggle to get a loan and their interest rates will be higher. 

490 and below: Poor credit. Individuals in this category may not qualify for loans and should focus on improving their credit score. 


Leave a Reply
Your email address will not be published. *