In the United Kingdom, a company that collects information from various sources and
provides consumer credit information on individual consumers for a variety of reasons is
called Credit Reference Agency. In the United States it's called a Consumer Reporting
Agency. In South Africa this financial institution is popularly known as a Credit Bureau.
The role that credit bureaus play in economies around the world, in particular the South
African one' cannot be downplayed. The credit worthiness of consumers and individuals
in South Africa is best measured based on information provided by credit bureaus. While
the bureaus don't have the power to decide who is granted credit or not, they do collect
information which is relevant to a person's credit habits and history and this information is
used to create credit score for a person. Creditors then use this information to decide whether
to grant credit to applicants or not.
In South Africa, Credit Health has developed long-standing relationships with the
country's major credit bureaus such as Experian, Transunion, XDS and Compuscan. These
relationships enable Credit Health to obtain a client's latest information and provide it in an
easy to understand format to the consumer. Credit Health also provides a free action plan if
a client has adverse information. Credit Health also provides clients with unparalleled access
to insight and strategies for rapid debt reduction and credit management. This helps clients to
save money and manage debts better.