How to find out your credit score for free

How to find out your credit score for free

When the time comes to apply for vehicle finance, knowing what your credit score is can go a long way to simplifying the process for you. You could also eliminate some of the stress involved by opting for rent to own vehicle finance. However, if you are worried that your credit score might affect the outcome of your vehicle finance application, find out what it is before you start the process.

A credit report is a record of your financial history. It shows things such as any accounts you hold, your spending habits, loans, payments, judgements and anything you might owe to creditors. You can find out your credit score for free in the following ways:

  • Experian – Experian offers 1 free credit check for consumers each year via CreditExpert. To obtain this service you must register (at no cost) with CreditExpert through Experian.
  • TransUnion – TransUnion offers consumers a quick snap shot of their free credit report every 12 months.       Simply register on the site and follow the simple prompts.

Generally speaking, South African citizens are entitled to one free credit score report per annum. Thereafter, credit scores are charged for by the various credit bureaus. Vehicles are considered a large purchase and so it is advised that a credit report is obtained in advance, just to ensure that all details are accurate. By doing this you will be fully aware of your credit standing and will be able to look at ways in which to improve your credit rating before actually applying for vehicle finance.

When obtaining your annual free credit report, your credit score will be stated with a description of what affected the score negatively and positively in terms of their credit report.
If you find that your credit score is negatively affecting your vehicle finance applications, consider rent to own vehicle finance offered by No Finance Cars. We offer affordable repayment terms and a wealth of benefits that regular vehicle finances don’t. Contact us today to learn more!