As an individual who is responsible for managing their personal finances, it is always important to keep track of your credit score. A credit score is a numerical representation of an individual’s creditworthiness and a range of factors such as payment history, credit utilization, and length of credit history contribute to it. Keeping track of your credit score can be the difference between getting approved for a loan or denied. There are various ways to check your credit score, one of which is by using the Capitec App.
What is Capitec App?
Capitec App is a mobile banking application used by Capitec Bank customers to perform various banking transactions. The App provides various features and services such as viewing account balances, making payments, and checking credit scores. In this article, we will discuss how to use the Capitec App to check your credit score.
Step by Step Guide to Checking Credit Score on Capitec App
Step 1: Download the Capitec App
To use the Capitec App, you need to download it from the Appstore or Google Play Store. Once you have downloaded and installed the app on your mobile device, you will need to log in using your Internet banking login details.
Once you have logged in, you will be taken to the home screen of the app. To check your credit score, navigate to the ‘Credit’ section of the app. The ‘Credit’ section can be found on the bottom menu of the home screen.
Step 3: View Credit Score
On the ‘Credit’ section, you will see your credit score displayed at the top of the screen. To view more details on your credit score, click on the score displayed. This will take you to a new screen where you can view your detailed credit report.
Factors that Affect Your Credit Score
There are several factors that affect your credit score. These include but are not limited to the following:
- Payment history: The number of times you have made payments on time or have missed payments.
- Credit utilization: The amount of credit you are currently using compared to the total amount of credit available to you.
- Credit history: The length of time you have been using credit accounts.
- Credit mix: The different types of credit accounts you have such as a credit card, mortgage, or car loan.
It is important to ensure that you maintain good credit health to keep your credit score high.
Conclusion
Checking your credit score on Capitec App is a quick and easy process that allows you to keep track of your creditworthiness. By following the steps outlined in this guide, you can stay informed about your financial standing and maintain good credit health. Remember to keep your credit utilization low, avoid missing payments, and ensure you have a good mix of credit accounts to maintain a healthy credit score.
