They will want to do business with you as you have proved you are a responsible user of credit and therefore pose a low risk to them. 650 – 679: Low RiskĪt this level, things are looking up and the institution will look very favourably at your application. 620 – 649 Average RiskĪ score in this range is considered to be an average credit risk and you should not have much difficulty getting reasonable credit with fair interest rates if you do not have any judgements or listings behind your name. Finance and credit will be extremely difficult but not impossible and when granted, will likely come with conditions and high-interest rates.

This is a borderline area where lenders will tread very carefully as you will be seen as a high-risk client. They will also charge you more in terms of interest as a result of the increased risk they are accepting. Those that do will probably require a substantial deposit and/or collateral. As such, many companies will not consider them at all. Some loans are less of a risk than others.Īs a general rule, this is how the scores are viewed: 540 – 589: Very High RiskĪnyone with a score below 589 will be viewed as very high risk with a high likelihood of not honouring the debt. Different financial institutions have different criteria and requirements, depending on the nature of the loan. Either way, there is no avoiding the fact that a good score will help immensely while a low score will make your search for credit extremely challenging.Ĭredit scores in South Africa differ from bureau to bureau but generally start at 200 and go up to 705. Some companies have very strict policies and knockout rules whereas others look at the report a bit more objectively. They can see your payment habits and make an informed decision when you request credit. Your score will help lenders understand your credit behaviour and determine whether you are a good or a bad risk. There are a number of bureaus in South Africa and they all work slightly differently but the end result of the score is relatively similar across the board. Sadly, it is not like golf so the higher your credit score, the better.

Chart credit score range