One of the major functions and responsibilities of a credit bureau is to track the way that the South African consumers make use of their credit as well as to assess how well these individuals involved go about the task of managing their credit. This does not simply mean that they keep tabs on people who qualified for their own credit line. In addition to monitoring the capacity of the South African market when it comes to the issue of acquiring credit, the bureau also takes on the responsibility of monitoring the rate as well as the manner through which consumers deal with their credit requirements. After all, people's spending and repayment habits would say a lot about the economic and social climate of the region. In addition to dealing with numbers, the bureau is able to pinpoint trends and commonalities in the manner through which people borrow money and pay it back.
Since they are tasked to identify and monitor people’s credit habits, the bureau is also responsible for starting and maintaining a repository of all the information that they find about a person’s finances as well as for the community as a whole. This means that you can easily call on them if ever you need to get your hands on a copy of your financial rating any time in the future. This office also offers various services that would allow you to get a better idea of where you are financially and some useful advice that should help you improve your standing if necessary. If ever you need any kind of financial document in the future, all you have to do is to contact the bureau or any of its satellite offices and request for the document that you need.
Finally, the credit bureau also has the responsibility of alerting credit companies, banks, and financial institutions about whether you will be a good client or not. If you are going to apply for a loan, for example, the bureau will give your lender an idea of how much you can afford to borrow and how much interest you have the capacity actually pay off. This way, you will not be allowed to take out loans that you will find too hard to pay off and you will not have to stick with terms that will be impossible for you to work with.