Nowadays, the credit report is one of the most important documents in your financial life. A good credit history is essential to get a loan, mobile phone service, vehicle and, in some cases, even a job.


Your credit report is an essential indicator of your financial health. It contains details of all the money you've borrowed and repaid, or are in the process of repaying, and helps lenders analyze a loan's ability to repay and make payments when due. If you apply for a loan to help you pay for tuition, for example, the bank will use your credit information to decide whether or not to grant you the loan, and on what terms.

Your credit report also helps people who want to have a business relationship with you (such as employers, owners, and retailers) decide how trustworthy you are.

In the past, most people didn't bother to check their credit report before they had to apply for a new personal loan – only to be disappointed or have their application rejected. The best time to understand your credit history is when you start paying off the money borrowed, credited or loaned. Once you start this journey, you create a credit imprint and need to responsibly retrace your steps along the way.

Ignoring the report does you no good. Even if the report is less than favorable, you can start taking steps to maintain or improve it immediately. The faster you start, the more likely you are to recover quickly. It may take you a few months to see an improvement in your report.

If a loan application is denied, check your creditworthiness

If you recently submitted a loan or credit application and it was unsuccessful, you must request a report from the credit bureau. By reviewing your report, you will understand why your application was rejected. This gives you the opportunity to fix any issues before you make a new request.

How often should you check your report?

Normally, just check your report once a year. But if you intend to buy a vehicle or take out a mortgage, you can check it more often to make sure you're in the best possible position. It is also important to ensure that the information on your credit report is accurate, as this can have a major impact on the report.

Check for errors

Errors can seriously affect your credit report, and it's up to you to correct them. Check that your name is spelled correctly and that your personal data (such as your address or employer) is correct. Look for accounts you don't recognize and loans that have been repaid, but still appear as "open." It's hard enough to build good credit, so make sure you don't get penalized for mistakes you didn't make.

Check for fraud

Checking your credit report is one of the best ways to spot potential fraud and protect yourself from the consequences of identity theft. It often takes several months to repair the damage caused by criminals, but if you regularly check your report, you'll quickly notice any changes to your profile.

Take stock of your debt

You can see all your debts and accounts in your credit report. This will give you a different perspective on your financial situation and help you better plan and manage your finances.

You are entitled annually to a free credit report from CREDITINFO WEST AFRICA.
Just as you have your health checked by going to the doctor, be sure to check your financial health as well.


A Credit Bureau is an institution that:


collection from financial institutions, public sources and major billers (electricity, water and mobile phone companies), available data on the credit or payment history of a borrower;

processes the information collected using appropriate techniques (statistical, it, etc.); markets products derived from this processed information (including credit reports and scoring) to, inter alia, credit institutions.