Credit Reports

Credit Record

Every time you buy on credit, your credit record is created at the National Credit Regulator (NCR). Credit providers and financial institutions always check credit records (with your permission) for various applications. The decision is taken based on the credit report received from the credit bureaus.

Good credit record

  • If you pay your accounts well and according to the agreement you build a good credit reputation or record.
  • This will improve your chance to get credit when you apply depending on affordability.

Bad credit record

  • Regardless of the reasons, if you do not pay your accounts regularly and fully, you build a bad credit record
  • Bad credit records can be fixed by
    • Paying off the debts
    • Making arrangements with creditors to make payments

Avoid doing the following

  • Changing a SIM card to avoid your creditors does not build a good credit reputation
  • Avoiding letters or calls from your creditors does not build a good credit reputation


The NCR can approve or decline credit application based on:

  • Affordability
  • Credit record
  • Credit record checks
    • There are many registered credit bureaus and it is wise to contact one to check your record
    • You are allowed to get one free credit report per year.
    • The report will help you fix your record
  • Debt counselling can also assist in fixing the credit record

There are many registered debt counselling services that can assist you manage your debts. There is a regulated fee for these services.

  • When you are in debt counselling, creditors cannot take  action against you
  • There is no permanent record of having undergone debt counselling
  • Your budget will meet your basic needs first before provision is made for debts.
  • A debt counsellor will suggest ways of cutting costs and saving money
  • You will no longer get calls from your creditors demanding payment.


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