Money Matters: How to manage a good credit record

According to a Debt Rescue study, only about 23% of South Africans have money left at the end of the month before their next payday.

The study finds that 86% of South Africans borrowed money in the year 2014. It also finds that South Africans between the ages of 31 and 45 collectively owe 53% of all outstanding debt in the country.

Salem Dyafta, Consumer Brand Manager at TransUnion, spoke to #NightTalk's Gugs Mhlungu and Sizwe Dhlomo about the best practices for to manage their credit scores.

Listen to the conversation below:

It is hard to score a consumer without credit, because what are you scoring them on? There is no payment behaviour

Salem Dyafta, Consumer Brand Manager at TransUnion

Your credit score is your reputation. No one else holds that power but you

Salem Dyafta, Consumer Brand Manager at TransUnion

Once you've closed an account, its the end of a relationship

Salem Dyafta, Consumer Brand Manager at TransUnion

Consumers need to make the distinction between a paid up account and a closed account

Salem Dyafta, Consumer Brand Manager at TransUnion
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ALL SOUTH AFRICANS GET CREDIT AMNESTY ON 1 APRIL

What exactly does this mean?