Johannesburg, 29 May 2014
For many South African consumers, word of the Credit Information Amnesty came at a crucial time, promising a clean slate for 48% of the credit active consumers who have impaired credit records.
"The Credit Info Amnesty has once again brought to our attention a need for consumers to understand and monitor their credit information," says Compuscan CEO and founder, Remo Lenisa.
Over 4.2 million borrowers' reports were affected by the Removal of Adverse Consumer Credit Information, yet only approximately 14 000 South Africans request their annual free credit report from Compuscan each year.
Compuscan has therefore launched the first comprehensive, personal credit report portal as part of the bureau's quest to educate, inform and empower South Africans about their credit status.
The easy-to-use portal allows South Africans with a valid ID number to register and subscribe to receive access to a user-friendly report that has been created to help the consumer understand what information about him/her are visible to potential credit providers. The service is available as a once-off report, or as a subscription to receive unlimited access to your credit report for three, six or 12 months. Whether you are a seasoned borrower or not, My Credit Check will help you understand your credit data, show you how to monitor accounts, manage your debt and improve your credit score.
This credit report has been tailored to show a complete record of your financial history, detailing information on your borrowing and spending habits, payment trends and contact details. It tracks every account you open, every payment you skip, every judgment taken against you and lists every cent you owe your creditors.
With enticing graphs, helpful tips and easy-to-read data, Compuscan has grouped all the relevant information that has the biggest impact on your score and finances. The service includes advice on how to better manage your credit and where to start cutting obligations - you don't need to spend hours sifting through reams of data in order to come up with a credit action plan.
With this report, consumers can also monitor their personal information, making it easier to identify when they must dispute data held by the credit bureau. And by subscribing to the monitoring service, consumers will be able to see when any changes in activity have taken place, allowing them to identify cases of identity theft and unapproved credit inquiries.
"Building a credit-worthy report has many benefits," says Lenisa. "It will secure customers to get lower interest rates and allow them more access to goods and financial services."
Whether you want to improve your financial standing, apply for a home loan or prevent the destructive consequences of identity theft, this report will offer you solutions to your long- and short-term needs.
"Compuscan is committed to serving the consumer as much as the credit provider, ultimately contributing to a healthier, more stable credit industry."
Click here to visit www.mycreditcheck.co.za, learn more about your credit status and register to receive access to your credit information.
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