Know your credit status and score for free: National Credit Regulator

NOVEMBER 9, 2015

The National Credit Regulator (NCR) is urging consumers to get their free credit reports so that they know their credit statuses and credit scores.

In a joint effort, the NCR together with the Credit Bureau Association (CBA) and credit bureaus is encouraging consumers to access their free credit reports from any of the 14 registered credit bureaus in a bid to educate consumers about credit information.

Under the National Credit Act (NCA), consumers are entitled to one free credit report annually from each of the 14 registered credit bureaus, said NCR manager for education and communication Mpho Ramapala.

Credit bureaus hold both positive information, such as consumers paying their accounts on time, and negative information, for example when a consumer has fallen behind or defaulted on payments.

Ramapala said consumers have a right to access and challenge information on their credit records if they believe that it is not accurate.

“When challenging the credit bureau record, the consumer needs to contact the credit bureau that issued the credit report. The credit bureau has 20 business days to investigate the matter,” she said.

Should a consumer require an additional copy of his or her credit report within the same year, there will be a fee that credit bureaus will charge, said Ramapala.

CBA executive manager Jeannine Naudé Viljoen said: “Every person who has an account with a credit or service provider in the country or makes use of credit services will find their payment behaviour information recorded with a credit bureau irrespective of whether that person pays their account regularly or not.”

“The purpose of listing information collectively at the credit bureaus is to create a comprehensive view of the consumer for both prospective and existing credit and service providers, to assist them in evaluating new credit or account applications, and also to assist in the management of their relationships with their customers,” she explained.

Here is a list of Credit Bureaus:

Compuscan – 0861 514 131
Consumer Profile Bureau (CPB) – 010 590 9505
Credit Watch– 086 100 0694
Crosscheck Information Bureau - 0105 909 505
Experian SA – 0861 105 665
Inoxico – 010 001 0540
LexisNexis Risk Management – 011 245 6500
Managed Integrity Evaluation – 012 644 4000
Robertsons International Reports – 011 777 4000
South African Fraud Prevention Services – 011 867 2234
Tenant Profile Network - 086 187 6000
TransUnion – 0861 482 482
Vericred – 018 294 1000
Xpert Decisions Systems (XDS) – 011 645 9100