National Credit Act
We take your rights seriously

The National Credit Act (NCA)

As a registered credit provider, we fully support the National Credit Act (NCA), which came into effect on 1 June 2007, and have implemented the necessary policies and procedures to meet the requirements of the NCA. The NCA replaces the Usury Act and the Credit Agreements Act. The information that follows will assist you in understanding how this legislation affects you.

Does the NCA apply to you?

The NCA applies to all credit agreements between parties dealing at arms length (where there is no personal interest between the parties). The NCA distinguishes between natural and juristic persons.

Natural persons Juristic persons
  • Personal customers
  • Sole proprietors
  • Trusts with two or less natural person trustees
  • Partnerships
  • Close corporations
  • Companies
  • Trusts with three or more trustees

The NCA applies to all natural persons.

Only certain provisions of the NCA apply to juristic persons. Provisions relating to marketing, over indebtedness and reckless credit do not apply to juristic persons.

The NCA in its entirety does not apply to juristic persons with an asset value or annual turnover of more that R1 million nor does it apply to juristic persons with an asset value or annual turnover of less than R1 million who enter into a mortgage agreement or an agreement with a loan value of more than R250 000.

How does the NCA affect you?

The NCA affects all credit agreements entered into after 1 June 2007. Credit agreements entered into before 1 June 2007 remain unchanged and are governed by their original terms and conditions. There are however certain provisions of the NCA which apply to existing agreements.

Listed below are some of the provisions of the NCA which we feel may be important for you to note as they apply to natural persons.

Credit agreements entered into after 1 June 2007 Credit agreements entered into before and after 1 June 2007
What rights do you have? What rights do you have?
  • The right to apply for credit
  • The right to be protected against discrimination in respect of the granting of credit
  • The right, to be given reasons for credit being refused
  • The right to information in an official language
  • The right to information in plain and understandable language
  • The right to receive documents
  • The right to protection of customer credit rights
  • The right to confidential treatment
  • The right to access and challenge credit records and information
  • The right to pay any amount owed to us in advance
General General

When entering into a new credit agreement with you, we will need to obtain your consent to market other products to you

We will give you notice before submitting negative information about you to credit bureaux

If you are married in community of property, you must obtain the written consent of your spouse before you apply for a loan

Interest rates, fees and charges will not change, except in accordance with your original credit agreement. If these change, we will notify you Should you fail to meet your obligations in terms of your agreement, you will be considered to be in default Once we have notified you of your default you have the following options available to you:

  • You may make arrangements with us to bring your payments up to date.
  • You may consult an independent debt counsellor
  • You will become liable for default administration costs and if legal action is taken against you, collection costs will be charged to you as well.

How does the NCA protect you against over indebtedness?

The NCA requires that credit providers perform a full credit assessment before entering into a credit agreement with the customer, this includes taking reasonable steps to ensure that:

  • The customer understands the rights and obligations and the risks and costs associated with the credit agreement
  • The customer is able to repay the loan

In order to ensure that we protect you against over indebtedness we, in addition to our normal credit assessment, now perform an assessment of repayment ability for each loan application.

In order to ensure that you understand your rights and obligations and the risks and costs associated with the credit agreement you will receive a comprehensive pre-agreement statement and quotation that clearly identifies all the costs involved, the risks associated with the loan, and your rights and obligations. The quote is valid for a minimum of five business days during which you will be given an opportunity to consider the credit being offered. If you have any questions relating to this document we will assist you.

What should you do if you feel that you may be over indebted?

You may be over indebted if, after deducting your living expenses from your net salary, you have less cash left than the instalments of your total debt. You are or will soon be unable to repay your debts. If you believe you are over indebted you should start with:

  • Get a credit report from any of the Credit Bureaus listed below. You can get 1 free credit report from any of these bureaus per year.
  • On the credit report, you will see your payment history. Look at this and check your budget to see where you can cut back on unnecessary spending and use it towards your debt repayments.
  • If no accounts in arrears, keep it up and try to add more to your repayments to pay off debt faster.
  • If accounts in arrears, contact the credit provider to inform them of your situation and try to negotiate better repayment terms.
  • Check your enquiries. See who’s been looking at your credit report. Some of the institutions that may be checking up on you from time to time include financial institutions, insurance companies, credit providers and potential employers. If you find something suspicious here, contact the bureau you got the report from immediately. Remember, having too many enquiries on your credit report negatively affects your overall credit score.
  • Consider consulting a debt counsellor.
TransUnion Credit Bureau (Pty) Ltd
Address: Wanderers Office Park, 52 Corlett Drive, Illovo
Phone: 0861 482 482
Fax Number: 011 252 7520
Call Centre: 0861 886 466
Experian South Africa (Pty) Ltd
Address: Experian House, Block B, Ballyoakes Office Park, 35 Ballyclare Drive, Bryanston, Sandton
Phone: 011 799 3400
Fax Number: 011 707 6700
General Email:
Call Centre: 0861 105 665
Compuscan Information Technologies (Pty) Ltd
Address: Compuscan House, 3 Neutron Ave, Techno Park, Stellenbosch
Phone: 021 888 6000
Fax Number: 021 413 2424
Call Centre: 0861 514 131
XDS(Xpert Decision System)
Address: 11-13 Oakhurst Building, 3rd floor West Wing, Saint Andrews Street, Park town
Phone: 011 645 9100
Fax Number: 011 484 6588
Call Centre: 0860 937 000

How do you resolve a complaint?

Your first point of contact in resolving a complaint should always be our Customer Service Centre. If the complaint has not been resolved to your satisfaction then you may contact the National Credit Regulator.

Customer Service Centre: 087 520 8200
National Credit Regulator: 0860 662 837