View your credit score with DebtBusters

How to check your credit score for free

The DebtBusters platform makes following your debt counselling progress so much easier and you can use all the insightful features available on the site — including viewing your credit score!

What is a credit score?

Your credit score is a number that is influenced by various factors, such as the amount of debt you have, number of active accounts you have open, payment history, credit usage, length of credit activity, and more.

This number is used to judge your financial behaviour, risk, and credit worthiness.

In other words, credit providers will look at your credit score when deciding to offer you credit. It also indicates your chances of repaying the loan to your credit provider.

What is a good credit score in South Africa?

A score of 750 or better is considered a good credit score. Credit providers will see you as someone who pays their accounts on time and this means that you will have a better chance of securing credit.

On DebtBusters, we measure your score from 0 to 100. Here’s what your score means on our platform:

What does it mean when your credit score changes?

If you have a high credit score, your credit provider will have less risk when lending you money because you have proven you can repay your loans. You will generally be offered lower interest rates.

If you have a lower credit score, credit providers see you as someone who has more risk in terms of paying back the money borrowed. Generally, you will be offered higher interest rates if you have a lower credit score.

Your chances of securing credit will change, based on your credit score.

How to improve your credit score?

The best way to improve your credit score is to:

• Check your credit report regularly
• Pay your accounts on time
• Pay the full monthly instalment
• Never ignore credit provider letters for non-payment
• Track your credit history to see if there are any inconsistencies
• Be savvy with your credit - be careful not to overspend
• Keep your personal information safe so that you avoid fraud

What happens to your credit score during debt counselling?

In the initial phase of debt counselling, your credit score will drop because creditors receive limited repayments in the first few months (the credit providers agree to this).

Once you start paying your new, restructured repayment amount your score will steadily increase. According to research DebtBusters has previously done, consumers who complete their debt counselling have an average credit score that is 112 points higher than it was when they started the process.

Read more about it in City Press’ article about how debt counselling affects your credit score in the long term. 

Why should you check your credit score regularly?

1. You will get a better understanding of how your credit score works.

2. You will know about the changes in your score.

3. You will be able to ensure that there are no errors or instances of fraud.

4. You will have more control over your score.

5. You will have a good idea of your financial health.

Why are credit scores so important?

Your credit score affects your financial mobility. It can have effects on your loans, interest rates, ability to gain employment, and even ability to secure housing.

How to view your credit score on DebtBusters

Viewing your credit score online with DebtBusters is quick and easy. Here is what you need to do:

Step 1:

Visit https://www.debtbusters-client.co.za/

Step 2:

Sign up by following the prompts, or using your login details that were organised when you first applied for debt counselling.

Remember, you can use the platform even if you are not under debt counselling, at no cost to you!

Step 3

Once you’ve logged in, your credit score will be on your Dashboard.

Get your score sorted!

DebtBusters can help you to improve your credit score, and so much more. If you’re feeling financially stuck, get in contact with us and we’ll provide you with a tailored solution to get on the path to financial freedom.