How To Start Building A Credit Score From Scratch In South Africa

📚 Download My FREE eBook Containing The 10 Baby Steps To Financial Freedom In South Africa: https://www.moneymarx.com/Baby-Steps-... 👉 Link To My DIY Investing Course: https://www.moneymarx.com/money-marx-... Living debt free is the ultimate goal in life, but unfortunately, when it comes to buying big ticket items like a car or a house, the vast majority of us won’t be able to afford paying for the whole thing in cash. This means that we will have to take out a loan in the form of credit at some point in our lives, and in order to qualify for a loan and a good interest rate, the credit provider will look at something known as our "Credit Score". It would seem like the whole system is rigged, as in order to build up a credit score, you need to actually take out credit. One would think that if you buy everything in cash and avoid credit like the plaque, that you would be rewarded and seen as a responsible citizen? Nope, unfortunately not. Building a credit record is kind of like a catch 22. You need credit to build a credit record, but you also need a credit record to be approved for credit. So in this video, I will show you exactly how someone in South Africa could go about building a good credit score from scratch as well as the pitfalls that you need to avoid in order to maintain a good credit score. For Business Inquiries: [email protected] _____________________________________________ DISCLAIMER The information shared by Money Marx is for educational and informational purposes only and should not be taken as Financial, Tax, Legal, or Investment Advice. While Pieter de Villiers is registered under the Financial Sector Conduct Authority (FSCA) and operate within the framework of the Financial Advisory and Intermediary Services (FAIS) Act, the content provided on this channel, in courses, and across all platforms does not constitute Personal Financial Planning or Advisory Services. All information is general in nature, based on factual data, principles, and publicly available information to help South Africans improve their financial literacy. Past performance is not a guarantee of future results, and all investments carry risk. You are responsible for your own financial decisions. For advice tailored to your personal situation, please consult a qualified Financial Planner that is registered with the FSCA. Some of the links on this page are affiliate links, meaning, at no additional cost to you, Money Marx may earn a commission if you click through and make a purchase and/or subscribe. These commissions help support the channel and other educational content.