Understanding Your Credit Score and Why It Is Important

WINDHOEK, Namibia, 8 May 2025 -/African Media Agency (AMA)/- TransUnion Namibia is committed to helping consumers better understand their financial options and the importance of maintaining a healthy credit score in today’s economy.

“At TransUnion Namibia, we’re committed to helping consumers understand their financial standing and the importance of maintaining a healthy credit profile. With greater awareness and access to credit education, more Namibians can be empowered to take control of their financial futures and fully participate in the economy,” says Lara Enslin, Country Manager of TransUnion Namibia.

Why Your Credit Score Matters

Your credit score is a numerical representation of your creditworthiness. It helps lenders determine whether to extend credit to you, and at what interest rate. Your credit score is calculated based on the information in your credit report.

Namibian consumers are entitled to one free credit report annually from each credit bureau. Reviewing this report helps you understand your credit history and identify any inaccuracies. If you notice errors, such as unfamiliar accounts or incorrect details, you can file a dispute with the credit bureau, such as TransUnion, to have them corrected.

Key factors that influence your credit score include:

• Payment History: A strong indicator of reliability. Late payments negatively impact your score, so always pay at least the minimum amount due each month.
• Credit Utilisation: This measures how much of your available credit you’re using. High utilisation can signal financial distress.
• Length of Credit History: Older accounts help improve your score, so maintaining long-standing credit lines is beneficial.
• Credit Mix: A variety of credit types such as credit cards, home loans, and personal loans can positively influence your score.
• New Credit Applications: Opening several accounts in a short timeframe can raise red flags for lenders.

Building a Healthy Credit Profile

Improving your credit standing takes time and consistency. Avoiding late payments, minimising credit utilisation, and limiting new credit applications all contribute to a healthier profile. Responsible use of credit, such as managing small, well-maintained accounts and paying on time, can help you build a solid credit history.

“We are actively driving financial inclusion in Namibia through several initiatives,” says Enslin. “One of our key focus areas is supporting micro-finance institutions and products, which help bring affordable financial services to underserved communities. These services often serve as an entry point to credit, allowing individuals to build their credit profiles over time. We’re also working with regulators and policymakers to enhance infrastructure and enable seamless, digital onboarding for consumers.”

Through data and predictive insights, TransUnion aims to expand access to credit and improve financial health for Namibians, supporting inclusive economic growth and long-term stability.

How to Access Your Free Credit Report
To request your annual free credit report, email a copy of your ID to
mailto:SA_Namibia-FreeReport@transunion.com. You will receive a form to complete before the report can be processed.

Alternatively, you can request your credit report in person at: TransUnion Namibia
27J, First Floor, Old Power Station
Southern Industrial, Windhoek
Business hours: 9:00am – 2:30pm

Distributed by African Media Agency (AMA) on behalf of TransUnion.

About TransUnion (NYSE: TRU)
TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries, including Botswana, Kenya, Malawi, Namibia, Rwanda, South Africa, eSwatini, and Zambia. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this by providing an actionable view of consumers, stewarded with care.

Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world.

For more information visit: www.transunionafrica.com

Media Contact:
Keabetsoe Matshediso
keabetsoe.matshediso@fleishman.co.za

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