Misleading Nedbank Credit Score on Nedbank Money App – No Clarity or Support

I am extremely concerned about the inaccurate and misleading credit score being displayed on the Nedbank Money App.

Nedbank provides a monthly credit report through their app, which clearly states that the data is sourced from Experian. On the Nedbank report, my credit score reflects as 588, categorising me as high risk.

This is where the issue becomes unacceptable.

I accessed my credit report directly from Experian — the very same bureau Nedbank uses — and my actual score is 646, which places me in a low-risk category with a healthy credit profile.

There are no adverse listings, I maintain a strong mix of accounts, and I have recently been approved for significant finance, including a vehicle valued at over R1.2 million. There is absolutely no justification for such a drastic downgrade in risk profile.

If Nedbank is using its own internal scoring model, that is understandable. However:

They are presenting the score alongside Experian data, creating the impression it is aligned with bureau scoring They are effectively manipulating or reinterpreting bureau data without proper explanation This results in misleading consumers about their actual creditworthiness

This is not a minor discrepancy — it is a material difference that impacts how a consumer perceives their financial standing.

I attempted to dispute this directly with Nedbank, as is my right under the National Credit Act. Unfortunately, no one I engaged with understood the issue or could provide a clear explanation. This is deeply concerning for a financial institution of this size.

My concerns are simple:

Why is there such a large discrepancy between Experian’s score and Nedbank’s score using the same data? Why is this not clearly explained to customers? Why are support staff unable to assist with something this fundamental?

This practice is misleading and creates unnecessary confusion and reputational harm to consumers.

I expect:

A clear explanation of how Nedbank calculates its score Transparency on how it differs from bureau scoring Proper training of staff to handle disputes of this nature Immediate correction or clear labelling to avoid misleading consumers

At present, this feels like a system that lacks transparency and accountability.