How Much Is A Good Credit Score In south Africa

What is Good Credit Score?

Although ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent.

How Much Is A Good Credit Score In south Africa?

650 – 669

650 – 669 = good. 634 – 649 = average. 618 – 633 = below average. Below 618 = very poor.

What is a normal credit score in South Africa?

Under 300: No Credit. 300-579: Poor. 580-669: Fair. 670-739: Good.

Is 570 a good credit score in South Africa?

Your score falls within the range of scores, from 300 to 579, considered Very Poor. A 570 FICO® Score is significantly below the average credit score.

What is a good credit score in South Africa to buy a house?

670+

The minimum credit score for a home loan in South Africa is around 640. A score of 600+ will give you a fair chance of home loan approval – although this may vary according to which bank you use.

A score of 670+ is considered an excellent credit score, significantly boosting your chances of home loan approval.

What is a Good credit score to buy a car in South Africa?

670 and 739, you have a good rating, and as such, you are not likely to be delinquent in the future. 740 and 799, you are very good and likely to receive better than average rates from lenders.

800 and 850, your rating is exceptional, and you are considered to be at the top of the list for the best rates from lenders.

What is a Good credit score out of 705 in South Africa?

In South Africa, a credit score of between 650 and 669 out of 705 is considered to be “Good”. Get into that band and you will get some brownie points from the lenders. If your score is below 528, it is considered “very poor”.

What is a good score on Clear Score South Africa?

Also, different lenders are looking for different things, so you might get refused credit by one lender and accepted by another.

What is a good/bad credit score?

Credit scoreExperian bandClearScore name
528-602PoorOn the up
603-649FairOn good ground
650-669GoodLooking bright
670-705ExcellentSoaring high