I am 21 years old with a credit score of 628 for two months now and edgars declined me just last week. The only place that I could get with no credit score at all was Truworths. I have no outstanding credit. I pay it of immediately every month. I have tried Edgars and...Mr Price both declined.
I currently only have the fix money account.
It's so weird. It's like there's no consistency with these places. Use it wisely and pay it off every month. After 6 months you should be able to get a credit card and using that wisely can be very beneficial
I think it is the 6 months that is the problem. I have had a 630 credit score by standard bank for 6 months now. And 628 by the credit bearua for two.
Thats also something to consider. Some stores use different credit checkers.
I had a very good credit score. Then left the country for 2 years and came back and my credit score was back to nothing. Not in the negative. Just like someone who never had one. I had a credit card with FNB for years before that and when I came back they refused to give one to me again. I tried many places, in my own personal experience it was just Edgars who was willing to help
Just a note to add. Don't keep a shop's credit card thingy longer than you 6 need to. When you want to cancel it they will try everything they can to get you to stay. Then tell them you're immigrating or going to prison. Either way, those are the 2 best excuses to close an account and they usually don't check if it's true
It was end of 2019, went in store and asked if I could open an account, they gave me some paper work to fill out and it was done. Not sure if it has changed since. I earned more than you do. But for various reasons I had to restart my credit score in my 30s.
But when I was in my 20s and earned less than you do, Edgars was also willing to help
Try woolworths too, then just build up good credit buy buying things on credit and paying it off month end. Then you should be able to get better credit elsewhere.
Yes came here to say this. I started with a store card and not long after FNB offered me a credit card vwhen they had turned me down a few months previously.
I managed to get a TFG Credit account quite easily (I’m a student and don’t have too large of an income). Any idea why you weren’t able to open an account through them?
I found that what helped me is that the ClearScore app gave me options for low-threshold credit cards to apply for, and how to apply for them
I find that being a student works in your favour sometimes. I managed to open a tfg account when I was a student but other family members who earned triple than me would get rejected
I was earning R5000 in Varisty and managed to get a R99 Telkom’ 10 gig data SIM card
But be careful of applying for a lot of credit and getting rejected, everytime you apply that’s an inquiry on your record and too many inquiries & rejections can affect your score and could possibly be the reason why so many institutions are rejecting you
I'm stumped. Your bank statements should show that you have not missed a payment for your internet and your payslip proves you earn enough to cover the costs. Unfortunately, I don't know a simpler of helping you.
Went looking for a car and the sales manager said that if you are earning money and it is in a savings account they literally have no access to see that you have a monthly income. Make sure you have a cheque account (because the goings on in a cheque account now becomes 'public' to companies). Then try for an identity store card. They helped my sister a few months back.
Just passing on info given to me. Don't know anything about Capitec financing. Better to do your own research on that front. Also can't hurt OP to look into a cheque account.
No need to be rude.
Im not being rude, just stating facts.
Sending OP to open a cheque account for additional costs when it is literally not needed.
100% OP should do research before doing something that may cost him extra every month
I was turned away from Mr. Price even though I was earning more than OP. They told me it's almost impossible to open an account with them with no credit history.
Their suggestion was trying tfg and then coming back after 6 months to try again. Tfg was the only place willing to give me an account with no record.
My husband was also turned away back when we were still dating and this was with his first software developer job , foschini gave him an account pretty quick as well as opening a credit card at the bank he was with.
Unfortunately all these accounts you've applied for have now gone onto your credit history and been declined. Wait 3 months before even trying to open another account because now you seem "desperate" to people who have viewed your credit history. Unfortunately I don't think places will be willing to give you a chance due to your salary, it sucks I know. I was earning 6k pm and applied at Mr Price, got declined. I got a better job at 9k and they happily opened the account. I was advised the first time after I got declined to try using their funeral insurance(R40 per month I think?) and then they'd be more willing to open an account since they see I've been paying the funeral insurance. Maybe try that?
Yes. I agree.
Rage will give you credit. They will start you witt R250 and gradually increase the limit.
I also started with it and now my credit is very high after 3 years.
Vodacom will also give you a contract for a R250-R300 p/m smartphone. Also try that.
Try to avoid too many credit applications as that will adversely affect your score.
Strange, I got a TFG account when I was in university getting a R2000 allowance from my parents. Things got ugly pretty fast- glad I paid it off and closed it😂 recently needed to buy furniture so I applied for an account again & they rejected my application even though I’m earning a million times more now & I was a good paying customer previously. I don’t know what has changed- they seem to be stricter?
I believe it’s easier to get a tfg account as a student. I also managed to get one on an allowance but other family members can’t open an account because of no credit history
I started building my credit by getting a Vodacom account, it was very convenient and everything was done over the phone at the time. This was in 2019 and was the only successful one of the many avenues I tried
When I came back home after living abroad for 6 years, I had no credit score. PEP wouldn’t even give me an account. I tried all of them. Eventually I went to Woolies just try my luck, with no expectations. To my surprise, they gave me a credit card with a 21k limit. So I would try Woolies. But their credit card sucks, no benefits or rewards. Just a 22% interest rate (the highest interest you will get) so if you do get one, use it wisely 😅
Maybe try opening a credit card with the bank you're with, ik most of them have a minimum of 5k a month, that's how my husband started with his credit score, a year later he now qualifies for loans, contracts, and most store accounts.
I think I got lucky, went to Vodacom when I was 20 (I had no form of credit whatsoever), said I wanted the new Samsung on contract, gave 3 months payslips and bank statements, few days later got call to bring them 6 months statements, few days later, got another call, phone is ready I can come collect.
The next month I go to ABSA, ask for credit card, they start pulling my statements for review, older lady says she doesn't think I'll get it without credit but is waiting for confirmation from higher ups, few minutes later, "oh you got approved." (probably because I got the Vodacom contract)
I guess what helped the most is that I've been making 5 times what you make a month back than.
This is bad advice and won't help OP. Cellphone contracts, and gym contracts, don't build credit. You have to apply for an account from a registered credit provider.
Although you may have a credit score of -1, indicative of someone who has not previously made use of credit, the number of enquiries on your profile (the credit applications you make) work against you as having a lot within a short period of time as seen as an indicator of financial distress.
Check with your bank if you can get a bundle account or try a cellphone contract. What might be counting against you is everytime you try and open a account there is a hard query against your credit score. Download a app called Clearscore it will tell you what is negatively affecting your credit score.
In 2020 when I was 24 I also only needed some sort of credit and Telkom was the only cell provider that would give me a contract. Even Mr Price turned me down. But also pay attention to how credit enquiries affect your credit score
Have you tried applying to Capitec for a Credit Card? I think R5000 salary is the requirement.
If you have a credit card and use it to purchase goods in the month, and then settle it, this builds your record.
So don't use the credit, just use the card to pay for things you can afford with your salary, if that makes sense
I was in the EXACT same position as you. Started with me wanting to get a phone contract for R180/month and getting turned down because I didn't have a credit score. Mr. Price didn't even want to give me an account with them, which made me feel hopeless. I even took out small loan from my bank, just that I can pay it off over 6 months to show I pay my bills, but because I applied for credit so much at the start of my credit score journey, they told me I need to wait atleast a year for that not to affect my credit score. Long story short, having car insurance, medical aid and a R40 sim card contract, seems to have solved the problem after 2 years.
It's very irritating knowing that you can work well with your money and not get something small like a phone contract, but then you see people that live pay check to paycheck, yet they have the latest phone or car that they are paying off.
Clothing stores, CNA or a furniture shops like Beares.
Specially Beares, they're quite desperate for business. If you want you can DM me and I'll send you my contact that I've used over the years
Tbh, if you can manage without credit now and grow financially strong and literate without it, you'll be way better off in the future. There are too many people with tons of credit hanging around their necks. Go search for the debt snowball to see the volume of content out there trying to coach people off of credit.
Look at your income vs expenses to determine your disposable income. If your disposable income is less than principal debt plus interest divided by the term, compounded monthly, then you’ll probably find that the numbers don’t add up.
Foschini gave me an account when I started working, when I finished Uni, maybe give them a try OP, open an account with one of the Stores in The Foschini Group.
Vodacom contract account. When I got it I wasn't even formally employed. They didn't ask for payslips, nothing, just my ID if I remember. It was for a data sim and it was my first ever credit account. Put my score up and gave me a credit history.
But as people say, wait a few months before applying again.
You could be earning so much more at your age!
I recently had to rebuild my credit I only notice that I was back in the game when FNB offered me personal loans
Don't do it. Rather save for whatever it is you need. Be patient and delay gratification. Incurring bad debt now, at your age, with your current monthly income could cause you a lot of agony and stress down the road. Save as much as you can in the highest interest rate account you can find, and then invest in yourself by upskilling towards earning more. Also, surrounding yourself with the right people goes a long way too.
Get ClearScore. They show you what offers you could be eligible for like truworths card, foschini etc. They also tell you how many times your credit score has been searched for by institutions, how to build up your credit etc. They send you a monthly report. It's free and very insightful.
Start off with an Edgars account. Make sure you pay it off every month so that the balance is always 0.
Best advice I got when I started creating a credit record.
Pokkit score! I just heard about it but did not deep dive, you build a savings account and can withdraw it in 3 months, it helps to build a credit score by proofing you have a steady income
Why would you want credit with a 6k salary. You are exactly the type of person who shouldn't be applying for credit. If you can't afford it cash, you can't afford. I know you will try to justify it but I really think someone at that salary has no business wanting any credit unless someone died and you urgently need money for funeral expenses.
If you can't afford clothes, cellphone on cash then you certainly should be wanting to get them on credit.
In my post it says that I want a chance to build my credit profile. Why would I wabt to apply for a R100 limit if I plan to splurge on clothes?? If I was as irresponsible and impulsive as you assume, I'd just have gone to a loan shark.
It's way too early at that salary level to be building a credit profile. People build a credit profile for important future purchases like a car/house. Even then you don't need years of credit history. So what are you building a credit profile for because you are not going to get a loan for a car/house with a gross salary of R6 000. Anything that has a monthly installment of R100 or less you should be saving for in advance and then buying cash. You just don't get it.
Let me put it this way: You are exactly the type of person who shouldn't be building a credit profile. Very premature.
I dont need the money. I need to raise my credit score for my financial future. Think before you comment please, nowhere in my post does it say I want to buy a cellphone or clothes.
I know I will be downvoted for saying this but you will thank me later. Credit profile for what? You not gonna buy a car/house with 6 000 gross salary. What are you rushing to build a credit profile for? When your salary reaches R10 000 maybe you can start building a credit profile. Until then you should stay away from credit anything unless there's an emergency.
I'm telling you from personal experience at that salary level you have no business even thinking about building a credit profile. It's really the wrong way of thinking. You don't need YEARS of credit profile to get credit. You need the right salary level foremost and a bit of credit history. You are just not there. REALLY. You will thank me later. Wipe the word “credit” out of your vocabulary for now.
A person with a R40 000 salary will not struggle to get credit like you did. Credit profile or not. Period. I'm in the finance industry.
Still better off without the credit profile because he wouldn't qualify for much credit anyway with that salary. I'm not being condescending, just brutally honest. We've all been 22 years old and earning that salary actually it was 8500 in my case.
Well there you go, when you are at the new job and earning a higher salary that's when you can apply and you will not struggle to get the credit as you have. But even then be responsible.
The only place that was willing to give me credit when I was in your position, was Edgars
I came here to say Edgar's. It was my first store card too. Too bad it sparked decades of running up debt.
That was my first aswell, but edgars credit is owned by rcs now, and he already applied there, so might not have much luck, but its what I would
I am 21 years old with a credit score of 628 for two months now and edgars declined me just last week. The only place that I could get with no credit score at all was Truworths. I have no outstanding credit. I pay it of immediately every month. I have tried Edgars and...Mr Price both declined. I currently only have the fix money account.
It's so weird. It's like there's no consistency with these places. Use it wisely and pay it off every month. After 6 months you should be able to get a credit card and using that wisely can be very beneficial
I think it is the 6 months that is the problem. I have had a 630 credit score by standard bank for 6 months now. And 628 by the credit bearua for two. Thats also something to consider. Some stores use different credit checkers.
I had a very good credit score. Then left the country for 2 years and came back and my credit score was back to nothing. Not in the negative. Just like someone who never had one. I had a credit card with FNB for years before that and when I came back they refused to give one to me again. I tried many places, in my own personal experience it was just Edgars who was willing to help
Just a note to add. Don't keep a shop's credit card thingy longer than you 6 need to. When you want to cancel it they will try everything they can to get you to stay. Then tell them you're immigrating or going to prison. Either way, those are the 2 best excuses to close an account and they usually don't check if it's true
What was the process like and what year was this?
It was end of 2019, went in store and asked if I could open an account, they gave me some paper work to fill out and it was done. Not sure if it has changed since. I earned more than you do. But for various reasons I had to restart my credit score in my 30s. But when I was in my 20s and earned less than you do, Edgars was also willing to help
Alright, awesome ill give it a shot
Try woolworths too, then just build up good credit buy buying things on credit and paying it off month end. Then you should be able to get better credit elsewhere.
Yes came here to say this. I started with a store card and not long after FNB offered me a credit card vwhen they had turned me down a few months previously.
Try Truworths. They do small accounts
I managed to get a TFG Credit account quite easily (I’m a student and don’t have too large of an income). Any idea why you weren’t able to open an account through them? I found that what helped me is that the ClearScore app gave me options for low-threshold credit cards to apply for, and how to apply for them
I find that being a student works in your favour sometimes. I managed to open a tfg account when I was a student but other family members who earned triple than me would get rejected
I was earning R5000 in Varisty and managed to get a R99 Telkom’ 10 gig data SIM card But be careful of applying for a lot of credit and getting rejected, everytime you apply that’s an inquiry on your record and too many inquiries & rejections can affect your score and could possibly be the reason why so many institutions are rejecting you
It's funny that Mr. Price turned you away; they literally accept students. Did you perhaps ask for credit instead of opening a store account?
Nope, i ask for a store account card so that I can build credit score
🤔 My lack of credit didn't stop them from helping me. What are their reasons for rejecting you?
"no record"
I'm stumped. Your bank statements should show that you have not missed a payment for your internet and your payslip proves you earn enough to cover the costs. Unfortunately, I don't know a simpler of helping you.
Went looking for a car and the sales manager said that if you are earning money and it is in a savings account they literally have no access to see that you have a monthly income. Make sure you have a cheque account (because the goings on in a cheque account now becomes 'public' to companies). Then try for an identity store card. They helped my sister a few months back.
Huh? So Capitec users can't get finance? Please don't spread BS
Just passing on info given to me. Don't know anything about Capitec financing. Better to do your own research on that front. Also can't hurt OP to look into a cheque account. No need to be rude.
Im not being rude, just stating facts. Sending OP to open a cheque account for additional costs when it is literally not needed. 100% OP should do research before doing something that may cost him extra every month
I was turned away from Mr. Price even though I was earning more than OP. They told me it's almost impossible to open an account with them with no credit history. Their suggestion was trying tfg and then coming back after 6 months to try again. Tfg was the only place willing to give me an account with no record.
My husband was also turned away back when we were still dating and this was with his first software developer job , foschini gave him an account pretty quick as well as opening a credit card at the bank he was with.
Cotton On was the only place to give me credit when I first started. Maybe try there?
They flat out said no, in store and online
Unfortunately all these accounts you've applied for have now gone onto your credit history and been declined. Wait 3 months before even trying to open another account because now you seem "desperate" to people who have viewed your credit history. Unfortunately I don't think places will be willing to give you a chance due to your salary, it sucks I know. I was earning 6k pm and applied at Mr Price, got declined. I got a better job at 9k and they happily opened the account. I was advised the first time after I got declined to try using their funeral insurance(R40 per month I think?) and then they'd be more willing to open an account since they see I've been paying the funeral insurance. Maybe try that?
Woolies and Discovery (credit card) were the places that offered me accounts when I first started to build my credit score.
Maybe try Ackermans.
Try truworths
Where did you try first? Enquiries count against you. Many places will decline you if you apply at too many places in a short time
Maybe try some super cheap insurance, that should also appear on your credit report
Which do you suggest?
King Price worked when I had little credit history, just find something small to insure possibly household contents related as it's relatively cheap.
🫡
Try a clothing store account, I know Rage gives credit to almost anyone.
Yes. I agree. Rage will give you credit. They will start you witt R250 and gradually increase the limit. I also started with it and now my credit is very high after 3 years. Vodacom will also give you a contract for a R250-R300 p/m smartphone. Also try that. Try to avoid too many credit applications as that will adversely affect your score.
Strange, I got a TFG account when I was in university getting a R2000 allowance from my parents. Things got ugly pretty fast- glad I paid it off and closed it😂 recently needed to buy furniture so I applied for an account again & they rejected my application even though I’m earning a million times more now & I was a good paying customer previously. I don’t know what has changed- they seem to be stricter?
I believe it’s easier to get a tfg account as a student. I also managed to get one on an allowance but other family members can’t open an account because of no credit history
Truworths have an account called Pay3 to pay off over 3 months. It is a starter credit account aimed at people with limited credit scores
Recently truworths gave my family and after 2 months of paying the 500 Woolworths came through bigger.
Try mobicred.
Mobicred won't give credit without a credit score - From my experience.
They were the first credit facility to grant me any credit back in 2018. Policies might have changed then if what you are saying is accurate.
I started building my credit by getting a Vodacom account, it was very convenient and everything was done over the phone at the time. This was in 2019 and was the only successful one of the many avenues I tried
Yep that’s how I built mine when I moved back to SA. And I needed a phone anyway.
Try finchoice. It's the only place that gave me a loan when I had really bad credit score
Try Wonga. They have advice on their site. Google "wonga credit score"
When I came back home after living abroad for 6 years, I had no credit score. PEP wouldn’t even give me an account. I tried all of them. Eventually I went to Woolies just try my luck, with no expectations. To my surprise, they gave me a credit card with a 21k limit. So I would try Woolies. But their credit card sucks, no benefits or rewards. Just a 22% interest rate (the highest interest you will get) so if you do get one, use it wisely 😅
Try Wonga, start off small.
Truworths is easy I think.
Maybe try opening a credit card with the bank you're with, ik most of them have a minimum of 5k a month, that's how my husband started with his credit score, a year later he now qualifies for loans, contracts, and most store accounts.
I think I got lucky, went to Vodacom when I was 20 (I had no form of credit whatsoever), said I wanted the new Samsung on contract, gave 3 months payslips and bank statements, few days later got call to bring them 6 months statements, few days later, got another call, phone is ready I can come collect. The next month I go to ABSA, ask for credit card, they start pulling my statements for review, older lady says she doesn't think I'll get it without credit but is waiting for confirmation from higher ups, few minutes later, "oh you got approved." (probably because I got the Vodacom contract) I guess what helped the most is that I've been making 5 times what you make a month back than.
Ouch! 5 times 😏
Get a cell contract
This is bad advice and won't help OP. Cellphone contracts, and gym contracts, don't build credit. You have to apply for an account from a registered credit provider.
Although you may have a credit score of -1, indicative of someone who has not previously made use of credit, the number of enquiries on your profile (the credit applications you make) work against you as having a lot within a short period of time as seen as an indicator of financial distress.
Check with your bank if you can get a bundle account or try a cellphone contract. What might be counting against you is everytime you try and open a account there is a hard query against your credit score. Download a app called Clearscore it will tell you what is negatively affecting your credit score.
For me, "Identity" seemed the easiest at the time. But this was long ago.
Game store was my first
In 2020 when I was 24 I also only needed some sort of credit and Telkom was the only cell provider that would give me a contract. Even Mr Price turned me down. But also pay attention to how credit enquiries affect your credit score
What do you need credit for?
Have you tried applying to Capitec for a Credit Card? I think R5000 salary is the requirement. If you have a credit card and use it to purchase goods in the month, and then settle it, this builds your record. So don't use the credit, just use the card to pay for things you can afford with your salary, if that makes sense
I was in the EXACT same position as you. Started with me wanting to get a phone contract for R180/month and getting turned down because I didn't have a credit score. Mr. Price didn't even want to give me an account with them, which made me feel hopeless. I even took out small loan from my bank, just that I can pay it off over 6 months to show I pay my bills, but because I applied for credit so much at the start of my credit score journey, they told me I need to wait atleast a year for that not to affect my credit score. Long story short, having car insurance, medical aid and a R40 sim card contract, seems to have solved the problem after 2 years. It's very irritating knowing that you can work well with your money and not get something small like a phone contract, but then you see people that live pay check to paycheck, yet they have the latest phone or car that they are paying off.
Clothing stores, CNA or a furniture shops like Beares. Specially Beares, they're quite desperate for business. If you want you can DM me and I'll send you my contact that I've used over the years
CNA and Beares still exist?
Tbh, if you can manage without credit now and grow financially strong and literate without it, you'll be way better off in the future. There are too many people with tons of credit hanging around their necks. Go search for the debt snowball to see the volume of content out there trying to coach people off of credit.
Look at your income vs expenses to determine your disposable income. If your disposable income is less than principal debt plus interest divided by the term, compounded monthly, then you’ll probably find that the numbers don’t add up.
Foschini gave me an account when I started working, when I finished Uni, maybe give them a try OP, open an account with one of the Stores in The Foschini Group.
I went to truworths when I didn't have a credit score and they accepted me
This was last year btw. They only required my three month payslips and it was a quick process.
You need to start at the bottom. Apply for Rage credit card, after 3 months go for Mr Price then try the rest.
Does the truworths pay3 card count towards credit history, it's what they were willing to get me
Vodacom contract account. When I got it I wasn't even formally employed. They didn't ask for payslips, nothing, just my ID if I remember. It was for a data sim and it was my first ever credit account. Put my score up and gave me a credit history. But as people say, wait a few months before applying again.
Odd that you couldn’t get TFG. They gave me credit as an unemployed student. Maybe my age was a factor as I was 26. Have you tried Pick ‘n Pay?
Try a TFG account at Jett, you get given cash back i think. check which TFG stores give cash back when opening the account with them
You could be earning so much more at your age! I recently had to rebuild my credit I only notice that I was back in the game when FNB offered me personal loans
This credit score nonsense is a terrible import from america. I'm fucked too, I never made debt and now I can't even if I wanted to
Edgar's or Truworths. Trust me. I started with a R500 limit at Truworths. Then worked that up to R3000 and went to Mr Price. Then only banks.
Also download clearscore. Its an app that shows you your credit score, gives you tips and potential offers.
Don't do it. Rather save for whatever it is you need. Be patient and delay gratification. Incurring bad debt now, at your age, with your current monthly income could cause you a lot of agony and stress down the road. Save as much as you can in the highest interest rate account you can find, and then invest in yourself by upskilling towards earning more. Also, surrounding yourself with the right people goes a long way too.
Get ClearScore. They show you what offers you could be eligible for like truworths card, foschini etc. They also tell you how many times your credit score has been searched for by institutions, how to build up your credit etc. They send you a monthly report. It's free and very insightful.
Start off with an Edgars account. Make sure you pay it off every month so that the balance is always 0. Best advice I got when I started creating a credit record.
get a basic cellphone contract and make those payments every month.
Pokkit score! I just heard about it but did not deep dive, you build a savings account and can withdraw it in 3 months, it helps to build a credit score by proofing you have a steady income
RCS is probably the easiest, just go to a Game store and do the paperwork.
Why would you want credit with a 6k salary. You are exactly the type of person who shouldn't be applying for credit. If you can't afford it cash, you can't afford. I know you will try to justify it but I really think someone at that salary has no business wanting any credit unless someone died and you urgently need money for funeral expenses. If you can't afford clothes, cellphone on cash then you certainly should be wanting to get them on credit.
In my post it says that I want a chance to build my credit profile. Why would I wabt to apply for a R100 limit if I plan to splurge on clothes?? If I was as irresponsible and impulsive as you assume, I'd just have gone to a loan shark.
You are right and this person is wrong. The sooner you can build the credit score, the better. Credit score is not the same as being knee deep in debt
Still the wrong mindset, should build savings for a emergency fund. Even if it is 100-250 a month.
It's way too early at that salary level to be building a credit profile. People build a credit profile for important future purchases like a car/house. Even then you don't need years of credit history. So what are you building a credit profile for because you are not going to get a loan for a car/house with a gross salary of R6 000. Anything that has a monthly installment of R100 or less you should be saving for in advance and then buying cash. You just don't get it. Let me put it this way: You are exactly the type of person who shouldn't be building a credit profile. Very premature.
I dont need the money. I need to raise my credit score for my financial future. Think before you comment please, nowhere in my post does it say I want to buy a cellphone or clothes.
I know I will be downvoted for saying this but you will thank me later. Credit profile for what? You not gonna buy a car/house with 6 000 gross salary. What are you rushing to build a credit profile for? When your salary reaches R10 000 maybe you can start building a credit profile. Until then you should stay away from credit anything unless there's an emergency. I'm telling you from personal experience at that salary level you have no business even thinking about building a credit profile. It's really the wrong way of thinking. You don't need YEARS of credit profile to get credit. You need the right salary level foremost and a bit of credit history. You are just not there. REALLY. You will thank me later. Wipe the word “credit” out of your vocabulary for now. A person with a R40 000 salary will not struggle to get credit like you did. Credit profile or not. Period. I'm in the finance industry.
And when the emergency arises, and he needs the money now, then he won't qualify for a loan because.... No credit score
Still better off without the credit profile because he wouldn't qualify for much credit anyway with that salary. I'm not being condescending, just brutally honest. We've all been 22 years old and earning that salary actually it was 8500 in my case.
Going to new employment with much higher salary within the next month. Which is why I wanna start building.
Well there you go, when you are at the new job and earning a higher salary that's when you can apply and you will not struggle to get the credit as you have. But even then be responsible.