What Credit Score Is Considered Good In South Africa?


For any individual or business entity interested in accessing credit, few words are as important as these two: “Credit Score.” 

Having a good credit score is vital for qualifying for finance from reputable lending institutions. The reality is that for any lender to trust an individual or entity with the finance provided there has to be some kind of track record in place in terms of how well they have repaid their previous creditors.  

This is essentially why a credit score exists.  

Lenders are able to go back to the credit records of credit applicants to ascertain how they have handled previous credit agreements. This is often a reliable indicator of how well they may handle their next agreements.  

A credit score that is favourable often puts the applicant in position for likely approval for finance. It may also allow better access to credit at the best interest rates.  

A credit score of above 700 is considered to be good in South Africa. Any score that is above 767 is considered to be excellent. Someone with a credit score in this region is more likely to be considered for the best interest rates. They are also more likely to be loaned larger amounts. This is because lenders consider these individuals as less of a risk. They are more likely to get payment due on time without any hassles.  

For an individual without a credit score to their name, then a good place to start would be to establish some kind of record. Opening a clothing account and managing it well will build a good credit score. If you qualify for a credit card, this can also qualify as a credit-building tool.  

How credit risk is calculated based on credit score: 

  • 1-580 Very High Risk 
  • 581-599 High Risk 
  • 600-619 Average Risk 
  • 620- 649 Low Risk 
  • 650- 999 Minimum Risk  

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