The report summarises your financial behaviour such as whether you regularly pay the full instalment on your accounts and on time. Photo: File.

CAPE TOWN – In celebration of this week’s International ‘Get Smart About Credit’ Day, which took place on 18 October 2018, Experian encouraged consumers to take control of their credit reputation and learn how to manage it properly.

Experian SA said that it is committed to educating consumers on how to manage their overall credit health.

“Experian SA encourages you to keep a regular check on your credit record and ensure your credit report contains accurate information,” says Mark Wells, Chief Customer Officer at Experian SA.

A credit report is not only about keeping track of your credit reputation, but it can also assist you with budgeting and protecting your personal information against identity fraud.

The report summarises your financial behaviour such as whether you regularly pay the full instalment on your accounts and on time. Inaccurate information could paint a picture of your financial health that is not true.

Wells encourages consumers to take advantage of the free annual service provided by credit bureaux as prescribed by the National Credit Act, giving consumers the right to access their credit reports once a year at no cost.

Consumers also have a right to log a dispute and challenge the information on their credit report should they believe that it is incorrect. Experian has 20 days to investigate and provide a response.


PERSONAL FINANCE