Your credit profile is constructed from the information major South African credit bureaus (TransUnion/ITC, Experian, Compuscan, and XDS) have on record about you.
Banks, insurance companies, cell phone service providers, clothing stores and other retailers, doctors and other medical facilities, municipalities/metros, loan providers, and many other businesses and organisations regularly provide information about you, good or bad, to these bureaus.
Your credit score is calculated based on your overall credit profile.
Negative information in your credit profile and a low credit score can cause all sorts of problems for you
You could be turned down for a personal loan, home loan, car finance, credit card, cell phone contract, or other credit agreement based on your credit profile and score – even if you can afford the repayments.
Some employers and rental agents also check credit profiles and scores so negative information and a low score could cost you a job offer or lease.
Knowing what is on your credit profile and why is the first step to improving and maintaining your financial reputation.
Our Credit Profile Assist benefit gives you the information you need to understand, improve,
and manage your credit profile.
What you get
- A free professional credit profile assessment (valued at R500) after your plan membership is confirmed – highlighting any information that may be affecting your credit score and with recommendations on how to deal with these issues.
- A detailed credit report is obtained from a major local credit bureau and sent to you by email every month, allowing you to immediately spot any issues and take action. This report is much more detailed than the yearly free report offered by credit bureaus and includes information about possible identity theft/fraudulent activity or attempts using your ID number, properties registered in your name (so you can tell if someone has fraudulently taken out a bond or transferred a property using your ID number), and plenty of other useful, relevant information.
How it helps you
The Credit Profile Assist benefit helps you to:
- Know exactly what’s on your credit profile, and what loan/credit providers, landlords, employers, etc. are finding out about you when they pull a credit report.
- Understand why you may have been turned down for a loan or credit agreement in the past.
- Have the correct information to be able to make decisions and improve your credit score and reputation so you aren’t turned down for loans and credit agreements in the future.
How it Works
Once your ICS MaximAssist Lifestyle Benefits Plan membership has been confirmed (i.e., your first debit order has been successfully processed), simply contact our customer service centre and request an assessment. One of our helpful consultants will then guide you through the process of receiving your credit profile assessment and ongoing credit reports.