Ever wondered how your credit profile is determined? Watch this video to find out.

Your credit profile is a snapshot of how you manage your debt. Every time you borrow money from an institution or purchase anything on credit, it is recorded on your profile. Every time you repay on time, it is recorded. Every time you don’t make a payment on time, it is also recorded.

Credit bureaus place both negative and positive information on a credit report.

Take a look at this sample credit report. You can get one FREE copy of your credit report every year. You should get a copy of your credit report to check your contact details are correct and that it accurately captures how much debt you have and if you have any judgement notices, defaults and or trace alerts registered against your name.

Improve your credit profile with these 6 steps