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phumzile M

1 reviews | Active since Aug 2015

17 Jan 2024, 10:57

Reducing my Nedbank debt Cost me my credit score.

I decided to update my credit card amount by reducing my utilization amount for what I can afford to pay monthly. My outstanding balance was R56 000 from total of R80 000, i paid the R56 000 to Nedbank in hopes that it’ll improve my credit score instead my score dropped by 19 points because according to Nedbank I utilized 541% of my credit allocation which means I chowed R56 000 instead of paying it, which is contrary to the facts.

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