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Credit Score

Several Suggestions To Improve Your Credit Score

Consistent Payments

It is an extremely good practice to make payments on time and consistently. Paying loans late can reduce your credit score by 35%, if you cannot make the full payment on the due date, submit a smaller payment on that date and handle the rest later.

Credit Card Payments

It is important to pay the minimum requirement on your credit card on the due date, and it is even better to pay more than the minimum required amount as this will show your willingness to lower your loan debt.


Going to court for not repaying your loans is one of the worst scenarios for your credit score. You will also find it difficult to obtain future credit. The best thing you can do is negotiate with your credit provider to lower your payment until you can pay the full agreed amount every month.

Debt Payments

Your credit score will be greatly affected if you are paying back loans with more than 30% of your net income. If you are using a credit card, keep payments under 50% of your limit.

Close Accounts

It is important to close accounts that you do not use such as clothing accounts or credit cards. This matters if you wish to apply for larger loans and you will save a bit of money doing this.

Credit Checks

Do not do multiple credit checks on yourself by going to every agent or money lender in South Africa. Plenty of credit checks will lose you points on your credit score.

Moving Money

Do not move large amount of money between accounts and different banks as this will arise suspicion of money laundering which will reduce your chances of obtaining a loan.

Credit Cards

Having multiple credit cards with excessively high limits are also not a good means of obtaining a loan, it is smarter to have 2 credit cards and use 50% of each limit than have 1 credit card and max it out every month.

Credit History

It is difficult to obtain a larger loan is you have a bad credit history or if you do not have a credit history at all. It is always a good idea to get a credit card or shopping account and repay your debt on the agreed dates to improve your credit history, if you do not have a credit history at all.

Your Wife’s/Husband’s Credit Rating

If your life partner has a poor credit rating, unfortunately it will affect your credit rating too, especially if you have a joint account.

Credit Agencies

You can improve your credit history by yourself, you do not need to go to credit agencies and spend more money. Simply start paying off your debts on time, for more information visit

Credit Report

It is wise to acquire a credit report if you seeking to obtain a large loan. On many occurrences there have been mistakes associated with these reports that you can correct. There could be listed loans that appear unpaid but have been paid, or were never taken out in the first place. To obtain a credit report visit

Debt Councel

Many instances people are too stressed and cannot manage their own debt so services such as debt counselling have become available to the public. PeP Loans do not offer this service and to qualify for Debt Counselling you have to pass the Debt Review. Debt counselling lowers your repayments on your loans but you cannot obtain another loan under their supervision.