Be in control - access your credit report from registered
For Immediate Release September 2011
The National Credit Regulator (NCR) will embark on a campaign to educate and
inform consumers about credit bureaus and all that they need to know about
credit bureau information. The campaign will start this month.
Darrell Beghin, Credit Information and Research Manager at the NCR says “a
credit bureau is an institution with characteristics of a library. It operates like a
library of personal credit information in that it stores the history of your credit
behaviour and is referenced by various parties for that history”.
“Every person who has an account, anywhere in the country with a credit or
service provider who make use of credit bureau services, will ﬁnd the informa-
tion about the account is recorded with a credit bureau irrespective of whether
that person pays their account regularly, or not. The purpose of listing the infor-
mation collectively at the credit bureaus is to create a comprehensive view of
the consumer for both prospective and existing credit and service suppliers to
assist them in the evaluation of credit or account applications and also to assist
in the management of their relationship with their customers ”, explains Beghin.
This is in line with the National Credit Act (NCA) because before credit providers
extend credit to consumers, they are required to conduct an aﬀordability assess-
ment, by assessing the consumer’s current level of debt obligation and credit
worthiness, through gaining insight into the debt repayment history of the
credit applicant, and the current extent of credit and ﬁnancial obligations, com-
bined with a review of the income of that person. Income information is not
typically stored at the bureaus and as a result, the credit applicant will need to
supply the prospective credit provider with proof of income.
Beghin says consumers are entitled to get a free credit report once a year from
any of the eleven registered credit bureaux. “In excess of the one free credit
report, a further credit report will cost you no more than R25.00”, she advises.
She recommends that you should obtain your credit record from more than one
credit bureau as diﬀerent credit bureaus may contain diﬀerent information
about you and it is wise to have a comprehensive understanding of the informa-
tion available about you.
www.ncr.org.za Page 1 of 2 0860 NCR NCR / 0860 627 627
Your credit proﬁle will also help you to understand where you are ﬁnancially
in terms of aﬀording your existing and possibly more credit,” adds Beghin“ It
is in your interest as a consumer to ensure that your credit information
reﬂected at the credit bureaux is correct. If, after accessing your credit
report, you feel that there is information that is not supposed to be on your
credit record or which is incorrect it is your right to dispute such information
by lodging a complaint with the respective credit bureau.
Beghin urges consumers to actively manage their credit proﬁles. “You are
more able to control your credit experiences if you are aware of your credit
report and its contents. This will enable you to understand the likely inter-
pretations and conclusions which credit providers could draw from your
record. By doing this, your credit bureau report will not come as a shock
when you apply for credit or are denied credit”.
The National Credit Regulator urges consumers to access their own credit
reports from the eleven registered credit bureaux as we believe that an
informed consumer is a protected consumer, concludes Beghin.
Details of the registered credit bureaux are available on the NCR website,
www.ncr.org.za or alternatively contact the National Credit Regulator’s call
centre at 0860 627 627 for assistance.
ISSUED BY: Leana Lucouw
Bullion PR & Communication
Tel: (011) 803 3615
Cell: 083 386 0839
ON BEHALF OF: Lebogang Selibi
The National Credit Regulator
Tel: (011) 554 2722
www.ncr.org.za Page 2 of 2 0860 NCR NCR / 0860 627 627