Thousands of blacklisted loan seekers hunt for loan providers that would give them credit, and as you can guess, most of them do not qualify for any credit.
Personal loans, student loans, medical loans, house loans, personal and business banking, credit cards, and other financial solutions are available from Capitec.
Most people want to know if Capitec lends to those on the blacklist. Unfortunately, the answer is no.
Despite the fact that Capitec provides a variety of credit solutions, their loans are not available to blacklisted loan applicants; however, they can obtain credit from other loan lenders, primarily brokers who work with a variety of creditors and will source the best loan products suitable for the individual situation.
What exactly is a “Blacklisted” person?
A blacklisted person is someone who has been placed on a list of persons with a poor credit history, and they normally wind up on this list as a result of things like failing to pay outstanding debt, credit cards, accounts, and so on.
How to see whether you’re on a blacklist
Every South African is entitled to one free full credit report each year from any local credit agency. Aside from that, several firms will offer you with your account status, credit score, and credit profile for a little fee.
How to avoid getting blacklisted
There are various tips that will ensure that your credit profile is good, and these include the following:
01. Paying outstanding bills
Keeping track of your credit balances is one of the greatest methods to prevent being blacklisted. If you do not pay your credit card balances, your credit score will suffer and you could be blacklisted.
Make a point of paying off any loan balances each month, whether they are for a personal loan, a credit card, a phone account, a clothes account, or whatever else.
02. Avoid taking too much credit
We all know how easy it is to take out several credit cards. Banks may give you loans that they say you qualify for even if you don’t need one, or they may offer you a credit card that you aren’t ready for, but it’s as simple as that to end up with two credit packages.
Learn to differentiate between necessities and wants, and before you take out a credit account for an iPhone, ask yourself if you really need it.
03. Check your credit profile
It is critical to check your credit profile on a regular basis to ensure that there are no issues influencing your credit score that need to be addressed.
If you have any credit balances, make sure they are paid off on schedule and maintained to a minimum.
How to repair your credit history
One of the greatest aspects of this predicament is that debt consolidation allows you to rebuild your credit rating in a relatively straightforward manner.
Following that, you can get your name removed off the credit blacklist. Credit repair and debt consolidation may be able to help you get back on track.
Lenders that offer Blacklisted Loans
There are various reputable lenders that can assist you in securing credit, and these include the following:
Ayoba Loans is a lender that provides blacklisted loans, so you may acquire a personal loan whether you are blacklisted or not. When applying for these loans, no security is necessary; nevertheless, you must have a minimum income of R3 000, a South African ID, and an active bank account.
Dot Loans also offers blacklisted loans ranging from R1 000 to R250 000 with payback durations of up to 60 months. You may apply for these loans online by going to their website and filling out the application form.
Lime Loans may also help blacklisted persons who are searching for loans by providing them with up to R5 400. All you need is a functioning bank account, three months bank statements, and your South African ID.
FinChoice Loans is another loan company that may help blacklisted individuals by providing them with up to R6 000 in loan funds with flexible repayment terms.
Even if Capitec Bank does not offer blacklisted loans, as you can see, there are alternative ways for blacklisted individuals to obtain credit. When you have improved your credit score, you may apply for credit from Capitec, which includes personal loans, credit cards, home loans, school loans, and so on.
