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What is a Credit Bureau?

In terms of Section 70 of the National Credit Act (NCA), a credit bureau is an entity that collects, compiles and report consumer credit information filed from any credit provider for the purposes of credit scoring or credit assessment. 

What is the role of the credit bureau?

When a consumer approaches a credit provider and applies for credit, the credit provider will ask a credit bureau for your credit information.  A credit report is supplied to the credit provider for the purpose of drawing up credit scores. Credit providers use credit scores to determine the risk assigned to a borrower’s ability to repay their debts.

What consumer information is kept by the credit bureau?

The credit bureau may receive the following information in respect a consumer:

  • payment history and status;
  • information that is relevant for credit fraud detection and prevention;
  • payment history in terms respect of debt ceded or sold by credit provider to third parties;
  • information not intended for credit providing consumer credit.

The consumer has the right to access and challenge credit reords and information kept by the credit bureau.

Read more about how to improve credit scores and understand the the risks of a poor credit score.


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