Reading Your Credit Report Without Stress — A South African’s Guide

Hey, beautiful people. After a busy few months of relocation, readjusting, and working triple duty, I finally have the space to reconnect with you here. It feels good to be home again, both literally and on this blog. So thank you for continuing to engage with my blog posts. 

You know, when you move houses and unpack boxes months later, wondering where half your stuff went? Well, your credit report can feel like that too, full of surprises, old accounts, and numbers you barely recognize. So let’s unpack it together! I’m breaking down how to read your South African credit report in plain English, what to look for, what to fix, and how to get your score smiling again. I’ll leave an example of an old report that you can use right here.

Why This Matters?

Your credit report is your financial CV. It’s the document lenders use to decide whether to trust you with credit. Yet, most South Africans don’t know how to read it, so let’s fix that together and this is what you can expect to learn from this post: ''What each section means'' ''How to spot a default or debt review'' ''What to do when you find errors''  and lastly ''how to start rebuilding your profile'' 

Understanding Your Credit Score

Your Experian score ranges from 0 to 999 and the higher, the better.  A score around 630 for example is considered fair, but don’t obsess over the number yet; use it as a progress tracker.

(Tip: Focus on improving habits, not chasing perfection, as lenders each have their own scoring system anyway.)

Start by Checking Your Personal Information

Before worrying about money, make sure your name, ID, and address are correct. Your employer details are accurate, and you correct mistakes early, as mismatched information can cause major delays when you apply for credit.

Who’s Been Checking Your Credit?

Every time you apply for credit, that company’s name appears under Enquiries. Too many enquiries in a short period can lower your score slightly.

(Tip: Space out applications. Avoid applying for 3 to 4 loans in the same month and check that companies don’t make enquiries without your consent, particularly phone companies.)

The Accounts Section — Your Real Credit Story

This section shows your entire payment behaviour. Each account lists the account name, the account number, the balance owing, monthly instalment and months in arrears (0, 30, 60, 90, 120+ days). 

Reading the Payment History

0 / OK means the account is up to date, while 30, 60, 90 and 120+ means the account is late by either 30, 60, 90 or more days, respectively, which is then considered a Default. So, if you see long strings of 120+, that’s a serious delinquency.

What Is a Default?

A default means you’ve missed payments, usually 90+ days, and it stays on your report for 1 to 2 years, depending on the situation. The signs of default include  an account sold to a third party or debt collectors, a debt handed to an attorney or simply labelled a defaulted account. Understanding defaults matters because defaults lower your score and signal risk to lenders. However, defaults can be repaired over time with consistent payments and settlements.

Debt Review, Debt Restructuring, Debt Consolidation, Debt Rehabilitation

If you see a section called Debt Restructuring, Consent Order or any of those highlighted above, 'You are under Debt Review'. This can happen with or without your consent or awareness, without even going to court, as some debt counselling entities are unethical, so always be aware.

What It Means

Debt review is a legal protection under the National Credit Act.  A registered debt counsellor consolidates your debts and gets a court order to freeze legal action. This helps prevent repossession of your cars and properties if you are struggling to pay your agreed instalments.

While Under Debt Review:

You cannot take out new credit. Your accounts show under restructuring. Once complete, you’ll receive a clearance certificate to remove the flag, and it takes a minimum of 30 to 90 days to successfully come off of debt review, so think carefully before you enter into the contract.

(Tip: Only trust counsellors registered with the National Credit Regulator (NCR) and never engage with callers who offer to lower your instalments, as these usually put you under debt review without your consent. Ignore or hang up such calls!)

How Long Negative Info Stays

Default listing stays between 1–2 years unless the account is brought up to date, while the retention period for closed accounts is 5 years from the last date of payment. Judgment, on the other hand, stays up to 5 years or until rescinded, while debt review flag remains until cleared by a registered debt counsellor or rescinded by the court. Paid-up accounts are updated immediately once settled.

How to Fix Errors or Outdated Entries

Gather your ID, proof of address, and paid-up letters, and challenge any inaccurate information with the credit bureau concerned. This process takes up to 21 days, and if unresolved, can be escalated to the National Credit Regulator (NCR).

(NB: Only incorrect data can be removed; valid defaults stay for their term)

Rebuilding & Taking Action

Here’s what I always tell my clients. Identify which accounts are current, which are in arrears, and which are defaults. Communicate with creditors to negotiate a payment plan and discounts if applicable, and always request proof, such as a paid-up letter, whenever you settle an account.

Quick Self-Check

Finally, following this credit report sample, check if you can understand it and do the same for your credit report following this guide.

    ✅ My personal details are correct 

    ✅ I know my credit score 

    ✅ I understand each account’s arrears status 

    ✅ I can spot a default or debt review flag 

    ✅ I’ve challenged any errors 

    ✅ I have all paid-up letters filed 

    ✅ I’m tracking progress every 3 months 

Final Thoughts from Your Credit Repair Coach

Reading your credit report doesn’t have to be scary. Once you understand it, you take back control of your finances and remember it’s not about perfection but it’s about progress, and every payment, no matter how small, is a step toward your comeback story.

Needing further guidance?

If you’re ready to go beyond reading your report and want a custom credit repair plan. Book a private consultation with me on 0614379639

I’ll help you:

• Prioritize debts 
• Negotiate settlements 
• Build your score step-by-step 

 Disclaimer: I'm not a financial advisor. This is based on personal experience and for educational purposes only.

~Revive Your Credit, Revive Your Life