12. Credit Cards, Clothing Accounts – Using It to Build a Credit Score

Fam, with last week’s interest rate hike, have you ever thought about how one can build a credit score in this economic climate? Why do you need a credit score? Which factors should one consider before applying for credit? Which signs serve as an indication of you not managing your credit well? Are there any pros & cons of using a clothing store account vs a credit card when building one’s credit score?

RESOURCES📚
•https://www.capitecbank.co.za/personal/credit/how-to-qualify-for-credit/

•https://www.nedbank.co.za/content/nedbank/desktop/gt/en/news/nedbank-blog/Financing-your-life-or-Borrowing/credit-card-vs-clothing-account.html

•https://www.transunion.co.za/client-support/faqs

•https://www.moneyweb.co.za/mymoney/moneyweb-personal-finance/credit-scores-how-and-why-you-should-keep-them-in-check/

•https://www.capitecbank.co.za/globalassets/pages/documents-library/financial-health/how-to-manage-credit-and-debt.pdf

•https://www.fnb.co.za/rates/LendingRates.html

Podcast Sessions Magazine
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