Most South Africans need credit to buy a property or a car and when you apply for credit, your credit score will be scrutinised.
A poor credit score or having no credit history could result in you not qualifying for a loan or being approved for less than you applied for. A poor credit score is also likely to result inHow do you then start your credit history? Ndimande says the responsible use of a credit card is a good way to start for young professionals.
“This will give you the benefits of a credit card without having to go into debt or paying debt fees, while it will improve your credit score.” “Remember that building a good credit score is about behaviour over time, not a once-off exercise. Maintaining a healthy credit score should form part of your financial planning. After all, at some point in your life, credit may be necessary to empower you to achieve your goals.”
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