This rejection does not mean that the consumer is on a blacklist.Ī credit report is a snapshot and history of a consumer's payment behavior. Should a consumer have a poor repayment credit profile, prospective credit providers will decline new credit facilities. In South Africa, credit bureaus report on consumers payment behaviors. Consumers cannot get blacklisted as getting blacklisted does not exist. As this overused phrase "blacklisted" is being used there is, in fact, no blacklist out there. There are thereby no grounds for the claim that a credit bureau will only store negative details about your credit history and that they will not collect any positive information about your credit history.Īn impaired credit record is when there is a record of non-payment of outstanding debts on loans, credit cards, bonds, and clothing accounts. The credit score reflects the risk level and probability of future payments associated with that consumer. It encouraged credit providers to share a combination of positive and negative information so that an accurate credit score could be computed based on consumers' conduct. The first credit scoring model was created in the late 1980s by Fair, Isaac, and Company. This kind of adverse information would include judgements, sequestration orders, and administration orders, among others. ![]() ![]() Historically, blacklisting has emerged in response to credit bureaus only keeping adverse and negative credit information on a consumer's credit report. These rejections result from an impaired credit record and not because your name appears on a blacklist. The term blacklisted or blacklisting is often a term that has become widely used in recent years to define when a consumer does not qualify for new credit facilities. ![]() Blacklisted? What is the meaning of being blacklisted or blacklisting?
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