Short Term Loan - GetBucks Instant Online CreditAccording to the National Credit Act (NCA) as set out by the National Credit Regulator (NCR), a credit consumer have certain rights when entering into a credit agreement. These rights apply whether you are taking out credit with a bank, a micro lender, or retail store.

As a credit consumer, you have the right to:

Apply for online credit: Any person or company has the right to apply for credit, but it doesn’t mean the provider has to grant the credit.

Not to be discriminated against when applying:  A provider does not have the right to, discriminate against a borrower on the basis of age, gender, colour, religion, political beliefs, sexual orientation etc.

Know why your application was denied: A credit provider can’t just deny credit because they feel like it. Should your application be denied, a credit provider must provide valid reasons to do so, and the applicant has the right to receive these reasons in writing. In the case where credit is denied based on an unfavorable report from a credit bureau, the applicant can ask who the credit bureau body is. If the consumer feels the info supplied by the bureau in question is wrong, they have the right to challenge the info at the particular bureau.

Credit consumer
Credit consumer

Preferred communication method: The consumer should be able to choose how they receive these documents e.g. by email or webpage.

Confidential treatment: A credit provider is only allowed to use the details given by the consumer for the purpose agreed to. Unless the release of such information is required in terms of the NCA or by a court of law.

Want to know more about your rights as a credit consumer? Visit the NCR website at www.ncr.org.za

For anything else, GetBucks is here to help! Get personalized online credit anytime, anywhere!

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