Personal Loan Defaults – Understand the Consequences
Life happens, and sometimes that can mean being unable to fulfil all your financial commitments for the month. But failing to make payments on your personal loan on time can have severe negative effects on your credit score, future borrowing capability, and overall future financial situation. Let’s explore the consequences of defaulting on your personal […]
Personal Loan Eligibility Checks – What You Need to Know
Big or small, every loan has an eligibility process that you will need to go through before getting approved. While this process may vary slightly depending on the lender and financial product you are interested in, you do not have to go into the process unprepared. Knowing what your lender is looking for in a […]
How Personal Loan Brokers Help Your Loan Application Process
A personal loan broker helps borrowers through a personal loan application process – from understanding your requirements to disbursement of loans. Personal loan brokers can be indispensable in saving you time and money, as they already have industry expertise and deep insight into the loan application process.Before you decide to contact a personal loan broker, […]
Credit Bureaus in South Africa – Reviewing The Big Three
In South Africa, credit bureaus play a pivotal role in financial matters. They collect, manage, and store credit information of consumers and businesses, which is then utilised by lenders, insurance companies, and even employers to evaluate creditworthiness. Let’s dive deep into the big three credit bureaus in South Africa – TransUnion, Experian and XDS, exploring […]
Improve Credit Score – Strategies for Improving Your Credit Score
Having a good credit score is important for obtaining loans or credit cards and can also impact the terms or interest rates you’re offered. Improving your credit score takes time; it requires time, discipline, and strategic financial decisions. Here, we explore practical strategies for enhancing your credit score and the timeframe for witnessing these improvements. […]
Credit Scores – Understand Its Influence
Credit scores play a crucial role in determining your financial future. Understanding it is the first step towards better financial management. But what are the factors that influence your credit score? How does it impact your ability to obtain loans or credit cards? And, what are the differences in credit scoring models used by various […]
Personal Credit Check – Review Your Credit History
A personal credit check is a review of your credit history – the record of how you’ve managed credit and debt in the past. Lenders, landlords, and even potential employers might request this check to assess your financial responsibility. Understanding personal credit checks and what they entail in South Africa can be crucial to your […]
What is a Hard Credit Check? The Impact and Nuances
When you apply for a loan or a credit card, lenders typically review your creditworthiness to evaluate the risk you pose as a borrower. This process is often referred to as a credit inquiry or a credit check. There are two types of credit checks, namely ‘soft’ and ‘hard’. This blog post will delve deeper […]
Which Lender Easily Approves Loans?
Lenders that easily approve loans are generally short-term lenders that are able to disburse a loan during the same business day. However, the loan maximum loan amount is significantly lower than what traditional banks can offer. The term “easy approval” can be subjective as it largely depends on your financial health. However, some online lenders […]
Looking for an Instant Temporary Loan? What You Need to Know
If you need quick financial assistance, instant temporary loans can be an appealing option. They provide funds quickly, often on the same day of approval, and are commonly used for unexpected emergencies. In South Africa, various lenders offer instant temporary loans with different terms, conditions, and interest rates. Here is what you need to know […]
