Does a credit score really matter?
What is a "good" credit score and is it the only criteria a bank considers?
In this Q&A, Maya Fisher-French and Absa credit experts Nick Nkosi and Ashwin Jugmohan unpack the criteria a bank considers when extending credit.
They also discuss how to make yourself more creditworthy and what to do if you cannot meet your debt obligations.
Nick explains why it’s essential to speak to your bank when you are under pressure, how to start that conversation and why you cannot simply give yourself a payment holiday.
Find out more about the contestants and their advisers here:
If you really want to get your finances in order, you have to start tracking your spending. If you cannot commit to that, it is unlikely you will be able to reach your goals.
City Press will follow the candidates’ progress on the first and third week of each month, as well as online on the Money Makeover page:
Follow the journey – and join in – @CPMoneyMakeover and #CPMoneyMakeover on Facebook and Twitter
Absa Enterprise Development assists SMEs with access to business development support, markets access and access to funding based on certain criteria’s being met. For further information on Absa Enterprise Development you can email ed@absa.africa
You can follow the story on social media #CPMoneyMakeover
Subscribe below for the Money Makeover Newsletter
Built with Shorthand