This is how to boost your chances of getting that big loan approved

In South Africa, most credit bureaus use a credit score range of 0 to 999.

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Here are what the various categories of credit scores mean:

Poor (0-527) - Considered high risk, lenders may decline credit or charge very high interest rates.

Below Average (528-602) - Some credit options may be available, but often with stricter terms or higher costs.

Average (603-649) - Moderate risk. Possible to access credit, though not always at favourable interest rates.

Good (650-699) - Low to moderate risk. Generally, qualify for credit at reasonable terms.

Excellent (700-999) - Very low risk. Strong chance of credit approval and best available interest rates.

What to do if you have a poor credit score and how to manage it:

Do a credit health check

Although credit bureaus are required to provide one free credit score rating a year, there are other ways to keep tabs on how well or poorly you're doing.