The Clear Score Credit Score Range in South Africa is a numerical illustration of an character’s creditworthiness. It helps creditors and economic institutions verify the threat related to lending cash to a particular individual.
What is the clear score credit score range in South Africa?
The clear score credit score range in South Africa is between 0 and 1000, with the higher score representing a better credit rating.
The Clear Score Credit Score Range in South Africa commonly ranges from 0 to 999, with higher scores indicating a decrease credit risk. Here is a breakdown of the credit rating range and its corresponding interpretation:
CATEGORY
- PERFECT
- EXCELLENT
- GOOD
- POOR
- VERY POOR
RANGE
- 850
- 750
- 720
- 650
- 620
Excellent (between 767 and 999):
- Individuals in this range are considered very low credit risks.
- They are likely to be approved for credit at the most favorable terms, including lower interest rates.
- These borrowers have a strong credit history with a low likelihood of defaulting on loans.
LEARN MORE ABOUT YOUR SCORE:- 770 775 780 785 790 795 999
Good (between 681 and 766)
It is vital to notice that distinctive lenders may additionally have precise scoring fashions, so the variety furnished above is based at the Clear Score gadget in South Africa. It is continually really useful to periodically test and monitor your credit score to make sure accuracy and deal with any troubles which could stand up.
- A good credit score indicates a lower credit risk.
- Borrowers in this range are generally eligible for credit at competitive interest rates.
- Lenders are more likely to approve credit applications from individuals with good scores.
LEARN MORE ABOUT YOUR SCORE: – 686 671 676 700 725 750 766
Fair (between 601 and 680)
- Scores in this range suggest a moderate credit risk.
- Credit approvals may still be granted, but interest rates may be less favorable compared to those with higher scores.
- Borrowers may need to demonstrate their creditworthiness through other means.
LEARN MORE ABOUT YOUR SCORE: – 686 671 676 700 725 750 766
Poor (between 0 and 600)
- Scores in this range indicate a higher credit risk.
- Individuals may have difficulty obtaining credit, and if approved, it might come with higher interest rates or stricter terms.
- Borrowers with poor credit scores may face challenges in securing loans or credit cards.
LEARN MORE ABOUT YOUR SCORE: – 586 571 576 600 625 650
Important to note that different lenders have unique scoring models, so the range provided above is based on the Clear Score system in South Africa. It is always advisable to periodically check and monitor your credit score to ensure accuracy and address any issues that may arise.
