A “good” credit score in South Africa typically sits in the upper bands on major bureaus, helping you qualify for lower interest rates and higher credit limits. Lenders also weigh affordability, income stability, and debt-to-income ratio. Pay on time, keep utilization low, and regularly check your report for errors to strengthen approvals.

Most variable rates are quoted as “prime plus” or “prime minus,” so when the South African Reserve Bank adjusts the repo, banks update prime and your repayments can change. Fixed-rate loans shield you from hikes but may start higher. Compare APR, not just headline rate, to understand total borrowing costs.

Common costs include an initiation fee, a monthly service fee, interest on carried balances, and charges for cash advances or international purchases. Some cards have annual fees offset by rewards. Always check the APR, interest-free period, and penalty fees for late payments. Choose a card that matches your spending and repayment habits.

A balance transfer lets you move existing credit card debt to a new card with a lower promotional rate, easing interest costs. Watch for transfer fees, promo period length, and revert rates after expiry. Commit to a payoff plan within the promotional window to maximize savings and avoid surprise interest.

Secured loans use an asset, like a paid-up vehicle or property, as collateral, often delivering lower rates but risk if you default. Unsecured personal loans rely on your credit profile and affordability, usually at higher rates. Choose based on risk tolerance, loan amount needed, and how quickly you can repay.

It’s possible, but expect tighter affordability checks, higher APRs, and smaller limits. Improve your odds by settling arrears, reducing utilization, and demonstrating stable income. Consider secured options or a debt consolidation loan. Avoid illegal lenders and always ensure any credit provider is registered with the National Credit Regulator.

Debt review restructures what you owe into an affordable single repayment under the National Credit Act. Interest can be reduced, and creditors stop legal action while you comply. It limits new credit access during the program. It’s a serious, regulated option when you’re overindebted and need structured relief.

Lenders must verify income, living expenses, and existing debts to ensure repayment won’t cause over indebtedness. They use bank statements, pay slips, and your credit report to calculate disposable income and debt-to-income ratio. Strengthen your application by cutting discretionary spend, clearing small debts, and maintaining stable employment history.

Consolidation can simplify repayments and potentially lower monthly costs if the new APR and term are favorable. However, stretching the term may increase total interest. Compare total repayment, fees, and any early-settlement charges on current debts. Only consolidate if you’ll avoid reusing old credit and stick to a strict budget.

Pay the full statement balance within the interest-free period, automate debit orders, and keep utilization under 30% of your limit. Negotiate a lower rate or switch to a cheaper card if your profile improves. Regularly dispute inaccuracies with bureaus and avoid unnecessary hard enquiries to protect your score.