Five ways to be credit savvy this festive season
Every credit active consumer has a credit report that is compiled by a credit bureau
JOHANNESBURG SOUTH – Transunion Credit Bureau has released five fast facts on how to be credit smart this festive season.
• Every credit active consumer has a credit report that is compiled by a credit bureau.
• Lenders access your credit report to derive a credit score when you apply for credit or a loan.
• Your TransUnion Credit Score is essentially a “numerical summary” of your TransUnion credit report. All the credit information in your credit report contributes towards the calculation of your credit score.
• Your score can improve or deteriorate, depending on your credit behaviour.
• The TransUnion Credit Score is not an endorsement, or a condemnation, of you or your credit behaviour. It will not determine whether you quality for credit. It will however give you a general indication of areas that you may need to improve in the way you manage your accounts, if you want to qualify for credit.
• It’s quick and easy. Check your credit report plus alerts and score and see how you are viewed by lenders.
