How Often Can You Check Your Credit Score

By Mav OT •  Updated: 02/01/24 •  5 min read

Keeping an eye on your credit score is an important part of handling your money and deciding if you are creditworthy. 

Checking your credit score regularly can tell you a lot about your financial situation. This can help you make smart choices and take action to improve or keep your credit profile in good shape.

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You can find and fix possible problems early on when you check your credit score, which is a big plus. Getting rid of mistakes, like mistakes in your credit report, can keep your score from going down and help you keep better financial records. 

Also, keeping an eye on your credit score lets you see how it changes over time, which shows you how your finances are doing and point out areas that may need your attention.

How often can you check your credit score without hurting it?

A good credit score can lead to many financial possibilities. When you ask for loans, credit cards, or mortgages, lenders will often look at your credit score to see how creditworthy you are. A higher credit score makes it more likely that you will be approved and may help you get better interest rates and terms. 

By checking your credit score often, you can make plans to raise it, which will give you more financial options in the future.

Knowing the things that affect your credit score, like how well you have paid your bills in the past, how much credit you use, and how long you have had credit, gives you the power to make smart financial decisions. 

Some things you can do to improve your credit score over time are making payments on time and using credit wisely. A good credit score can also help you stay financially stable, which can give you peace of mind and a sense of security.

Finally, if you want to be financially independent, you need to check your credit score. 

It lets you take charge of your credit health, deal with potential problems before they happen, and set yourself up for better financial possibilities. 

Your financial future will be safer and better off if you keep an eye on your credit score and work to improve it smartly.

What is the best way to check your credit score?

To find out your credit number, the best thing to do is use a reputable credit agency in South Africa, like Experian, TransUnion, or Equifax. 

These companies will give you a report that is reliable and includes everything about your credit past and score. You can be sure that your credit report is correct and safe by getting to it through the credit bureau’s official website. 

In South Africa, people are legally allowed to get one free credit report a year from each of the three main credit companies. 

At this point, you can check your cash situation without spending any more money. Regularly checking your credit score can help you find any issues or potential problems early on, so you can fix them when it is most convenient for you. 

What affects your credit score?

Here are the things that affect your credit score and we will be sharing them with you.

Why is my credit score going down when I pay on time?

This is a common question most people who are not familiar with credit score reduction ask. When you make a payment, your credit score adjusts but mostly decreases. This could happen for various reasons.
Even if you pay your bills on time, your credit score could go down if you use a lot of credit, get new credit inquiries, or have creditors report late payments or other bad information. Changes in the types of credit you have and the average age of your accounts can also affect your score.

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