Credit score as important as ID number when buying property

Understanding rating key to influencing and improving it

For all SA citizens and permanent residents, your ID number ensures you can be uniquely identified in the system. This makes it easy to access public services such as opening accounts, applying for a driver’s licence, passport, and all administrative services.

In the context of your credit score, it enables you to access funding provided by lenders or banks, which helps you acquire assets faster and handle immediate financial commitments without having to save up over months and years. This ability to get credit is made possible by good conduct in your credit repayment behaviour, which is indicated by a “credit score”...

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