The seriously simple South African checklist
Checking your credit report is one of the easiest ways to stay in control of your money.
It helps you see what you spent vs. owe, spot any wrong information, and understand how banks, shops or other lenders decide whether to give you credit.
Here’s our simple checklist to help you get your report quickly, safely and for free.
Knowing your legal rights and limits
Key finance fact: In South Africa, you can get a free credit report at any time from Finance365.
The National Credit Act gives you the right to one free credit report that anyone with a South African ID number can access every 12 months from each registered credit bureau. This means you get one free report from TransUnion, one from Experian, one from XDS, and one from Compuscan.
But know that if you ask for more than one report from the same bureau in a year, they may charge a fee. That’s where your Finance365 support comes in to help as you can get unlimited numbers of credit reports from us at no cost, forever.
Also remember checking your own report with us does not lower your credit score. This makes it a really great habit to add to your consistent financial checklist to know where you stand before you apply for loans or other financial products.
CREDIT REPORT CHECKLIST:
- Choose your bureau/s: Choose (free annually) either TransUnion, Experian or XDS – or (free, always) with Finance365.
- Create an account. You’ll need to confirm your ID number, full name, address, and contact details.
- Verify your identity. Bureaus will ask a few security questions or send an OTP to confirm your details.
- Ask for your report. Once verified, download or view it immediately online.
- Don’t forget to save a copy. Keep it in a secure folder for future reference or disputes.
What to look out for in your report:
A credit report will list:
- Your personal details: Your name, ID, and contact information.
- Any accounts and loans you have: Credit cards, shop accounts, insurance policies, vehicle finance, and personal loans.
- Your payment history: Any late or missed payments, defaults or judgments.
- Credit enquiries that may have been made about you: Who has recently checked your credit.
If something looks wrong, contact the bureau immediately. Do it in writing, explain the issue, and attach proof such as payment confirmations. The bureau must investigate and reply within 20 business days. If they don’t respond, you can ask the Credit Ombud for help.
Top tip! Regularly reviewing your report also helps catch identity theft early, such as new accounts you didn’t open – Finance365 will send you alerts when things change. Checking your report regularly keeps your credit report accuracy up to date.
FAQs
What if I find an account I don’t recognise? Tell the bureau immediately. It could be an error or fraud.
How often should I check my report? Take advantage of checking your regularly with us, and you can also cross-reference the information with annual credit reports from each bureau.
Is Finance365 really free? Yes. You can get a free credit report as many times as you like. All you need to do is register with us.
Staying alert with credit monitoring
Besides your yearly report, consider using a credit score monitoring service – such as the support you get from the Finance365 team. These tools alert you when changes appear on your report, helping you respond to possible fraud or missed payments faster.
You can be a credit to yourself.
Get credit report access the easy way. Finance365 makes it seriously simple to manage your credit report accuracy. With us, everything about your credit is in one safe, easy-to-use place.
