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FAQs Page

  • A credit bureau is a company that collects, processes and reports on a person’s credit information.
  • It captures insights into the credit wellness and spending habits of any individual who has opened a store account, mobile contract, or has taken a personal loan.
  • Splendi is powered by XDS, one of SA’s four trusted credit bureaus.
  • XDS is registered with the National Credit Regulator and strictly adheres to the National Credit Act.
  • The NCA legally protects South African consumers and simplifies and supports their journey to credit wellness.

A credit score is a numerical representation of your creditworthiness, which lenders use to evaluate the risk of lending you money. It is based on your credit history and ranges from 0 to 1000.

  1. Personal details:

    Your identity is your property. It unlocks access to your credit profile. Your details are requested by Credit Providers when you apply for a new account or take out a loan. Your consent to share these details with Credit Bureaus wraps the credit verification process.

  2. Potential Fraud Indicators:

    This section contains information referenced against fraud databases. If your details appear on any of these sources, you will be displayed as ‘listed’.

  3. Presage Credit Score:

    You credit score is calculated by assessing how diligently you pay your accounts and honour your financial commitments. It is a measure of the credit risk that potential credit providers face when granting you credit. The higher your score, the lower the risk to credit providers. Your credit score is only one part of the Credit Providers Assessment.

A credit report is a detailed record of your credit history, including accounts, payment history, and inquiries. A credit score is a numerical summary of the information in your credit report.

A good credit score typically ranges from 670 to 739. Scores above 740 are considered very good or excellent, while scores below 670 may be considered fair or poor.

We take protecting your personal information seriously. If you try to sign up and it says your email, cell phone and ID/Passport are already linked to an open Splendi account, please contact  info@splendi.co.za   to resolve this matter.

If you proceed after entering the wrong cell phone number, that number will receive your OTP. If you entered the wrong ID number, or passport number, please send an email to  info@splendi.co.zaso that this profile can be deleted.

It's a good idea to check your credit score at least once a quarter to ensure there are no errors or signs of identity theft.

You can improve your credit score by:

  • Paying your bills on time.
  • Reducing your credit card balances.
  • Avoiding opening multiple new credit accounts in a short period.
  • Keeping old accounts open to lengthen your credit history.
  • Regularly checking your credit report for errors and disputing any inaccuracies.

Yes, if you find errors on your credit report, you can dispute them with the credit bureau that issued the report. The bureau will investigate and, if the dispute is valid, correct the error.

  • Your credit grantors may not have sent an update to indicate that you have been paying your account(s).
  • The quickest way to amend this is to request that they send the Credit Bureau an update.
  • You can also request that the Credit Bureau investigates this for you (this may take up to 20 business days).
  • Credit enquiries: 12 months
  • Missed Payments: 5 years
  • Debt restructuring : Until a clearance certificate has been issued
  • Defaults: 1 year
  • Court judgements: 5 years or until paid and a paid-up letter is provided by the creditor or attorney

There are two types of inquiries: hard and soft.

  • Hard inquiries: These occur when a lender checks your credit for a loan or credit card application. They can slightly lower your credit score.
  • Soft inquiries: These occur when you check your own credit or a lender checks your credit for a pre-approval offer. They do not affect your credit score.

No, checking your own credit score is considered a soft inquiry and does not impact your credit score.

Closing an account can affect your credit score by reducing your available credit and potentially shortening your credit history. It's often better to keep the account open, especially if it has a long history and a high credit limit.

Your credit score can be negatively impacted by:

  • Late or missed payments.
  • High credit card balances or maxed-out credit cards.
  • Numerous recent applications for new credit.
  • Short credit history.
  • A mix of different types of credit accounts with negative records.
  • These companies are known as credit repair companies.
  • The majority of them operate illegally.
  • The Credit Bureau Association (CBA) does not support any of these organisations and advise consumers not to use their services.
  • It is important to remember that there is nothing that these credit repair companies can do that you could not do for yourself.
  • They often take large repair up-front fees and do not deliver the promised results.

You might have difficulty obtaining credit if you are jointly applying for credit. For example, when applying for a joint bond, credit checks will be conducted on both parties and if either of you has negative information on your credit report, you might experience difficulty accessing credit.

No, every individual has his or her credit report even though you may be married in community of property.

What if people have bought on my ID?

  • The Credit Bureau Association encourages consumers to manage their credit reports by accessing their reports at least once a year.
  • If your credit report reflects accounts that you did not open, you should contact the companies that had inquired on you. Next request that they provide you with the application form, which you had allegedly signed when you opened the account.
  • Should you receive no feedback, we encourage you to contact the Credit Bureau to lodge a dispute.
  • Different banks or stores have different credit-granting policies.
  • Each store or bank would detail this policy in the agreement that is signed with you when you enter into a credit agreement with them.

When you apply for credit, you give the store or bank consent to view your credit report.

This information will help them decide whether or not to grant credit to you. In order to get credit, you have to give the store information to help them make the right business decision.

Stores & banks do not have employees that are adequately trained to counsel you on your credit report. They cannot advise you on steps that you need to take to understand and manage your credit report.

The NCA bestows on you the following rights:

  • To apply for credit.
  • To protection against discrimination.
  • To be given reasons for credit being refused.
  • To access and challenge your credit information.
  • To receive your credit information in an official language.
  • To receive all credit-related documents in plain and understandable language.
  • To have your confidential information protected.

Only the lender or service provider can tell you why your application was declined. They are required to provide the reason in writing, and if it’s due to information from your credit report, they must give you the contact details of the credit bureau. Lenders have different criteria and assess your application based on factors such as your income, expenses, employment details, and other personal information.

If you can't pay your accounts, don't ignore the problem. Review your credit report, list your debts, and prioritize them. Cut unnecessary expenses and use extra cash to pay off debts. Contact your creditors to negotiate or consolidate your debt. Never ignore legal notices—contact the creditor to adjust your repayment plan. Stay disciplined, avoid spending beyond your means, and regularly check your credit report to monitor progress.

If your credit score is lower than expected, review your credit report for errors, identify areas for improvement, and develop a plan to address those issues. Consider speaking with a financial advisor for personalized advice.

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