The importance of a polished credit profile

Cape Town - Have you ever applied for credit and wondered why you are asked for proof of employment, your marital status, and whether you own property?

Many people might not realise that they start building their credit profiles when they submit these details when applying for loans, credit cards or store accounts. From the moment they lodge an application their details are cross-checked with records at all of South Africa’s credit bureaus.

With household debt levels on the rise, it is therefore imperative for consumers to know how their credit position affects their present and future budgets, according to Rudolf Mahoney, head of brand and communications at WesBank.

He explains: "Our credit profiles also contain important information with regard to how we use credit and how we’ve managed our payments.