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Debt Review School

Did You Know?

“Blacklisting” is an old term that is sometimes still inaccurately used by some people today to mean some sort of list that stops a consumer from getting credit.

In South Africa, this is not allowed anymore. Blacklisting no longer exists because of new, better laws that were introduced.

 In South Africa, a person is allowed to get access to credit as long as they are really able to afford it. There is no list or report that says a person cannot get credit.

Sometimes people use the old term “blacklisting” incorrectly to refer to a record of some negative credit information on a credit report like missed payments.

But the truth is even with negative payment history or listings, consumers who can actually afford the credit should be allowed to get credit (they may just end up paying a higher interest rate due to the risk that they might not pay).