What is a Credit Score?
A credit score is a numerical expression based on a level analysis of a person’s credit files, to represent the creditworthiness of an individual.
A credit score is primarily based on a credit report, information typically sourced from credit bureaus.
Best Credit Score To Buy A Car In South Africa
Finance will be approved. 740 and 799, you are very good and likely to receive better than average interest rates from finance houses.
800 and 850, your rating is exceptional, and you are considered to be at the top of the list for the best interest rates from lenders.
Can you get a loan with a good Credit Score In South Africa?
You need a credit score of at least 610 for the bank to consider your home loan application, while anything above 661 is considered a decent credit score.
Here’s a more detailed breakdown: 781 to 850.