Improve your credit health with Absa Credit Coach

What Credit Coach can do for you

Credit score

Check your TransUnion score for free, any time with no penalties.

Personalised guidance

Tips tailored to your situation.

Pay overdue accounts

Easily identify and pay bills that are behind.

Learn about credit

Get answers to your questions and improve your financial situation.

Easily manage your credit in one place

What is Credit Coach?
Absa App-based solution

Get personalised tips on how to improve your finances

Understand your TransUnion credit score

Explore loan eligibility

View your outstanding debts

Make payments for overdue accounts
How to access Credit Coach
How to access Credit Coach on your Banking App

Log in to your Banking App

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Tap Go to Credit Coach

Start monitoring and improving your credit score!

Frequently Asked Questions

What is a credit score?

Your credit score is a rating of how well you’ve paid the people you owe (creditors) over the last 10 years.

The higher your score, the more likely you are to qualify for loans and credit cards, and get better terms on lending agreements.
How is my credit score calculated?

Credit bureaus like TransUnion and Experian compile your credit history and calculate your score.

However, not all data providers report to every credit bureau, resulting in varying information on your credit report depending on which bureau is used.
Which credit bureau should I trust?

Different creditors may assess your creditworthiness using credit scores from different credit bureaus.

For instance, Absa Credit Coach shows your score as calculated by TransUnion – while certain creditors may look at your Experian credit score.

However, it's worth noting that major credit bureau scoring standards are generally similar.
What are the main factors that impact my credit score?
Active accounts: The number of accounts linked to your credit profile. These can be store accounts, credit cards, loan accounts or insurance accounts.

Credit usage: The amount of available credit you have used. Keep your credit usage below 50% to maintain a healthy credit profile.

On-time payments: The percentage of payments made by their due date. Making payments on time helps boost your credit profile.

Average age of credit: Based on all the accounts linked to your credit profile. Older accounts are better for your credit profile.

Monthly enquiries: These are made by companies when you apply for credit. Be selective with the credit you apply for to keep this number low.

Public records: This includes negative marks made on your credit profile, usually due to payment-related issues.
How do I build my credit score?
Get a credit card: Build your credit history and get a credit score in about 3 to 4 months with an Absa Credit Card.

Maintain your overdraft: Get yourself an Absa Cheque account with an overdraft facility, be sure not to exceed its limits.

Get a student credit card: If you’re a student, this is a great way to build credit without the risk of a credit limit too high for you.

Open a store account: Retail credit accounts and cellphone contracts are an easy way to build your credit score.
What does a poor credit score mean?

The likely result of a poor credit score is being declined on future credit applications, which can put a dent in your plans when you’re in need of a loan.
How can I improve my credit score?
Timely payments: Pay the full instalment of all your financial commitments on time. Missing even a single payment can have a negative impact on your credit record.

Avoid risky credit: Stay away from excessive unsecured credit, loan sharks, or multiple credit cards.

Borrow responsibly: Never overextend yourself with numerous loans. Be mindful of your financial capacity and only take on debt that you can comfortably manage.

Limit your debt: Keep your credit usage below 50% of your credit limit. Avoid getting more debt to pay off existing debt; this can lead to a detrimental cycle.

Address negative listings: Regularly check your credit report for items like notices, judgments and defaults. If these exist, take proactive steps to settle the outstanding debts, and ensure that you receive settlement documentation, which can be used to clear your credit record.

Diversify your credit usage: Maintain a balanced mix of secured and unsecured credit. This might include store accounts and credit cards alongside home loans and vehicle finance. Additionally, long-standing credit accounts that are consistently paid on time positively impact your credit score.

Limit credit enquiries: Avoid excessive credit applications, as this might suggest significant changes in your financial circumstances.
Why was my credit application declined when I have a good credit score?
Your credit score is a significant factor, but it's not the only metric creditors use to evaluate your credit application.

There are several other reasons why credit providers may decline your application, which according to the National Credit Act (NCA), banks should provide you with.

Common reasons may include:

Over-indebtedness: When your income can't cover all your monthly debt obligations.

Debt-to-Income Ratio: This assesses your borrowing risk based on the portion of your income dedicated to debt payments.

Court judgements: Legal actions like bankruptcy and debt relief linked to your name due to unpaid debts, can affect your credit report for up to five years.

Debt counselling: A program for debt management, opted into by struggling consumers.

Missed payments: Non-payment on credit accounts within the past year.

High credit usage: Having total credit usage on revolving accounts above 50%.

Excessive credit accounts: Having too many active credit accounts, such as multiple credit cards.