EXPLAINER | Who is doing credit checks on me? | Business

A credit bureau will calculate your credit score when a credit report is called for, as an overall, up-to-date indicator of your credit standing at a particular time.Credit bureaux are constantly checking how you handle credit by obtain information from credit providers.Bureaux can also provide your credit report to employers when you apply for a position.Who is checking how you handle credit? All the credit bureaux.

A credit bureau is a commercial company that gathers information about the credit history and financial status of individuals and businesses and sells that information, as your credit report, to credit providers and others who have an interest in the information.While the bureaux are commercial entities and may be regarded as a threat by some consumers, they are in fact an important part of the framework created by the National Credit Act to manage credit.

If information is released without permission, you can take a complaint to the Credit Ombud.As a consumer, you have the right to access your own reports free of charge once a year, but if you want to monitor your credit record more carefully, you can become a paying client of a bureau by signing up for regular report updates.If you find inaccuracies in a report, you are entitled to have them corrected by the bureau concerned, with the help of the Credit Ombud if necessary.

• If you are not satisfied with the outcome, contact the office of the Credit Ombud. The complaints process is spelt out at

_Business We need a state bank pronto not these so called bi 4 leeches.

_Business I have been corresponding with the various credit bureau's like TransUnion etc to get my records corrected, falls on deaf ears, they have done me a favor, I don't have debt any longer, no cell contacts, credit cards, etc because of an erroneous report!

_Business Banks & credit providers can load any amount of information on your credit profile, but when it comes to removing any errors the consumer has to jump hurdles to attempt to correct their profiles, I am sitting with a bond & credit card from FNBSA which should not be there!

_Business Being that SA is a corrupt criminal country there are innocent people that have been scammed and terrorised but now face financial challenges because of what they have been through? You are a number to a bank and if you are not making them money 💰 they don’t care 🤷‍♂️

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