How To Add Employment Status On Credit Report

By Tevait Feanle •  Updated: 05/03/24 •  5 min read

A credit report doesn’t just provide lenders with information about the existing credit you have. It also provides a wealth of personal information, including details such as your address and employer. While most of us worry about the accuracy of the financial information shown, it is important that your credit report accurately reflects all facts about you. Otherwise, you may miss out on opportunities or be incorrectly assessed for risk by potential lenders. What can you do if you spot inaccurate personal information on your credit report, like an incorrect employment status? We are here to guide you through everything today, so let’s get started.

- ADVERTISEMENT -

How To Add Employment Status On Credit Report

Technically, you should never need to ‘add’ something to your credit report manually. Let’s recap how the credit reporting system works in South Africa:

This means that, in theory at least, any change in your data will automatically make its way to the bureaus and be updated over time. No action is needed!

However, it is not uncommon for inaccurate or outdated information to still be shown on your credit report. The bureaus suggest that any inaccurate data you spot that isn’t updated after 60 days (2 calendar months) should be disputed with them, so they can update their records. 

You will do this the same way you raise any other dispute on your credit report. Head to the bureau’s website, and look for the ‘dispute’ option. You will be directed to an online form, where you will explain the situation. Upload supporting documents and proof, and submit the dispute. The lender has 20 working days to get back to you on the matter. Something like updating your address or employer will be very simple- much more simple than actively disputing credit information, in fact!

How Do I Update My Income On My Credit Report?

In South Africa, you do not need to update your income on your credit report. This is something that many US citizens may need to do. This is why you will often see it raised as a topic and may be under the impression you need to do it too. However, income is not something that the South African bureaus are interested in, or have a right to access. Income is not a factor used in your credit report. Only current credit lines and debts, payment history, your location, and your employer are relevant, not what you earn.

- ADVERTISEMENT -

It is a good idea to make sure that your place of employment and other personal details are correctly reflected, however. This makes certain that only the right information is provided to the bureaus. A lender may, for example, be put off you as a prospective borrower if you claim to be employed in one place, and the bureaus show different data. While this should never be the ‘make or break’ factor in a lending decision, every little thing you can do to ensure an accurate report will work in your favor.

What Negative Information Can Be Added To Your Credit Report?

In South Africa, both positive and negative information about your credit is shown on your credit report. On the negative side, this means the following data is reflected:

However, don’t forget the impact of positive credit behavior! Lenders will also be able to see how well you pay accounts, that you make full and timely payments, and other positive interactions with your credit. Your credit score is compiled with both positive and negative behavior in mind, not just the things you do wrong.

Does Updating Your Income Affect Your Credit Score?

Income does not affect your credit score in any way in South Africa. It is not a factor that lenders will report on, and it will not appear on your credit report in any way. That said, many lenders will also ask you for proof of your income in the form of 3 or 6 months of salary slips, to make certain that your debt-to-income ratio allows you to take on a new loan or credit offering. So a boost in income will help you in that way. However, this will not impact your credit score in any way.

- ADVERTISEMENT -

Keep Reading

What Is A Credit Bureau Score?

What Is A Credit Bureau Score?

This blog will further help you understand the calculation of the credit bureau score and many more. 

Why Credit Scores Drop For No Reason

Why Credit Scores Drop For No Reason

We are about to share some exciting and insightful information on credit score drop, fixing your credit score, what can hurt your credit score etc. 

How Does A Car Dealership Check Your Credit?

How Does A Car Dealership Check Your Credit?

Getting a credit extension in South Africa solely depends on your credit score.

How to Check Someone’s Credit Score

How to Check Someone’s Credit Score

In this guide, we’re going to explore everything you want to know about checking someone’s credit score.   

How to Check Amazon No Rush Credit Balance

How to Check Amazon No Rush Credit Balance

How to Check Amazon No Rush Credit Balance. So buckle up to learn more as you may be on Amazon to apply these new learnings. 

How to Remove A Block On Your Credit Report?

How to Remove A Block On Your Credit Report?

Today, we will look at credit report blocks in more detail, and what they mean for you, as well as how to unblock your profile so the prospective lender can access it.

How To Check Hard Searches On Credit Score

How To Check Hard Searches On Credit Score

In this post, we explain how to check for hard searches on your credit score, how to know who did a hard inquiry on your credit

How To Check Credit Score Online South Africa

How To Check Credit Score Online South Africa

This article discusses how to check your loan rating online in South Africa, calculate your rating, what app shows your real loan rating, and where the best place to check your rating is.

Understanding Credit Searches: Hard And Soft Credit Checks

Understanding Credit Searches: Hard And Soft Credit Checks

We will touch on how you can avoid unnecessary credit searches that can negatively impact your score.

How to Check My Credit Limit on Edgars Account

How to Check My Credit Limit on Edgars Account

This article explains everything you want to know about checking your credit limit on your Edgars account. 

Can I Check my Credit Score On the Absa App

Can I Check my Credit Score On the Absa App

Can I Check my Credit Score On the Absa App. Let us look at the possibility of checking your credit score on the Absa app. 

How To Apply For A Loan With Low Credit Rating

How To Apply For A Loan With Low Credit Rating

We take a detailed look at borrowing with a bad rating, how a poor loan reading affects the overdraft application, and ways to effect an increase in your loan scores.

How To Build Credit Without A Credit Card

How To Build Credit Without A Credit Card

Today, we will walk you through building your credit without a credit card- it is easier than you may think. 

How to Use a Credit Card to Increase Your Credit Score

How to Use a Credit Card to Increase Your Credit Score

This guide provides measures you can take to ensure effective use of a credit card to increase your credit. 

How Is Credit Score Calculated In South Africa

How Is Credit Score Calculated In South Africa

How Is Credit Score Calculated In South Africa. With these clues, you should be able to understand how the credit score is calculated.