The Importance of Credit Scores
Firstly, let’s delve into why your credit score matters. According to recent studies, a good credit score can save you thousands of rands in interest payments over time. Whether you’re applying for a home loan, vehicle finance, buying goods, or even renting an apartment, lenders and financial institutions use your credit score to measure your creditworthiness. A higher score means responsible financial behavior, making it easier to get a loan and at better terms.
However, building a credit score from scratch or improving a poor one can be challenging, especially if you do not want to incur extra debt.This is where Pokkit Score steps in to offer a user-friendly, affordable, and secure solution.
How Pokkit Score Works
Pokkit Score operates on a simple yet effective basis: instead of incurring debt, use your own savings to build a credit score. If you’re among the many South Africans with a low or nonexistent credit score, Pokkit offers the opportunity to get a score and to improve an existing score.
Savings Voucher: Pokkit Score offers a Savings Voucher that can cost as little as R100 per month, using your own savings. Your money is always safe, invested at the Allan Gray Money Market Fund, where it earns interest for you. There is no need to take out loans or incur debt – instead just watch your savings grow while earning maximum interest.
Credit Building in Action: As you save with Pokkit, your payment history is reported every month to all the major credit bureaus, gradually improving your credit score. Recent data shows that Pokkit users with low scores start improving in 4 to 5 months of regular payments. People with no scores get an immediate score with two of the major credit bureaus. This means that every saving you make contributes to improving your creditworthiness.
Affordable and Accessible: Pokkit Score is accessible to individuals from all walks of life, with a monthly fee of just R15. Save between R100 to R4, 000 per month and pay regularly.
Unique features: Access all your savings after three months of regular payments (Pokkit Stretch); redeem your voucher at any stage; and get all your fees back if your score does not improve in 12 months (Pokkit Promise).
Benefits of Using Pokkit Score
The advantages of using Pokkit Score to enhance your credit score extend beyond mere financial metrics. Here are some key benefits:
Financial Empowerment: A habit of regular saving and earning interest helps you to take control of your finances and work towards long-term goals.
No Debt Accumulation: Unlike traditional credit-building methods that often involve taking on debt, Pokkit enables users to strengthen credit scores through their own savings alone.
Flexible and Convenient: With features like recurring card payments, withdrawals to your bank account or in cash at ATMs, and mobile accessibility, Pokkit Score offers a seamless and hassle-free experience, allowing users to focus on their financial journey without added complexity.
Building a Better Future: By improving your credit score with Pokkit Score, you’re not just enhancing your financial standing in the present, you’re laying the groundwork for a more prosperous future filled with opportunities.
Improving your credit score in South Africa doesn’t have to be a daunting task, especially with innovative solutions like Pokkit Score at your disposal. By adopting a savings-based approach to credit building, you can pave the way to greater financial stability, access to credit, and ultimately, a brighter future. Take the first step towards a richer life today with Pokkit Score.
