How To Build A Lifechanging Credit Score With BenX
Mondo Admin / 11-07-2025 / Tech
BenX Credit Builder helps South Africans build their credit scores and grow their savings. Here’s a step by step guide to better credit – fast!
Your credit score can make or break you financially.
While good credit scores open up doors to a better lifestyle, a bad credit score can shut them firmly in your face.
Now, BenX Credit Builder is stepping in, helping South Africans turn their credit scores around in just 12 months.
According to BenX more than 20 million South Africans either have no credit score or a score that’s too low to qualify for a loan.
That means they have no access to formal systems of credit (through banks or accredited partners) so they turn to illegal lenders to help them.
If your current credit score is holding you back, we’ve got a step by step guide to help you improve it with BenX.
Why do I Need a Good Credit Score?
A good credit score lets businesses know you’re safe to sell to.
In order to own the car, the house, the business – or even the type of smartphone you want – a good credit score is crucial.
And while living debt-free may sound like a dream, it’s a double-edged sword for anyone looking to build their assets and improve their lifestyles.
But having credit is not enough. You also need to prove you have a history of responsible borrowing by staying on top of your monthly payments, have minimal debt levels, show consistency and avoid applying for too many new credits at once.
The BenX Credit Builder Advantage
So, you need credit to have a good credit score.
But how do you get credit if your credit score is too low?
You start by building your reputation as a trusted borrower.
BenX Credit Builder lets you rescue your credit score in just 12 months – and build a savings account at the same time. In some cases, the improvement can be seen even earlier/
Around 73% of people using the BenX system are able to improve their credit score within just 6 months – including people who started with no credit score at all or had poor credit histories. That means you could be halfway through the journey and already seeing real change.
How it Works: Build Your Credit Score and Save
Step 1: Apply for a 12-Month BenX Credit Builder Loan
- Start by applying for a small, affordable 12-month loan through BenX and Mondo. This is a clever way to build your credit score without taking on risky debt. The approval process is simple, and the loan amount is tailored to suit your financial needs.
Step 2: Make Your First Payment Upfront
- Once approved, you’ll make your first month’s instalment upfront. Your payment gets deposited directly into a savings account opened in your name.
Step 3: A Savings Account is Opened in Your Name
- Your money goes into a secure investment account managed by Allan Gray, one of South Africa’s most trusted investment firms, making sure your money is not only safe, but that it’s working for you by earning interest over time.
Step 4: Pay Monthly and Build Your Score
- Each month, when you make your regular instalment, the payments are reported to the credit bureaus, which helps improve your credit profile month by month.
Bonus: One Missed Payment Allowed
- Life happens. So if something comes up, you’re allowed to skip one month without affecting your credit score or your savings balance. That flexibility means you stay in control without falling behind on building your score.
Step 5: Get Your Money Back – with Interest
- After 12 months, your loan term ends. You’ll get back every cent you paid in – plus the interest you’ve earned and you’ll now have a better credit score, which opens the door to future opportunities like your preferred smartphone contract, car finance, home loans and more.
How to Measure Your Credit Score
In South Africa, there are a few major and well-known credit bureaus; Experian, TransUnion, XDS, and ClearScore, and each one uses its own scoring system.
Some use a scale from 0 to 999, while others go up to 1200. For example, Experian and XDS score out of 999, while TransUnion goes up to 1200 and ClearScore measures out of 740.
The higher your score, the better your rating.
As a guide:
- A score above 750 is excellent
- Anything below 650 is generally seen as poor
- However, if you’re using ClearScore, anything over 604 is considered to be stable.
It’s also good to remember that what counts as a “good” score can vary slightly depending on who’s looking at it.
In just 12 months, you can prove you’re creditworthy, build a savings cushion, and open doors to new opportunities – all in one smart move.
Ready to build your credit score and start saving with BenX and Mondo?
FAQs
No. BenX is designed for people who have low or no credit scores – it helps you build your score from the ground up.
No, your money is safely held in a savings account until the end of your 12-month term. This helps ensure consistent saving and credit-building.
You’re allowed to skip one month without it affecting your credit score or your savings. Just make sure to stay on track after that.
Yes. Your savings are held in an investment account in your name with Allan Gray, one of South Africa’s most trusted financial institutions.
You’ll get back all the money you’ve paid, plus interest, and a stronger credit score that can help you qualify for things like phone contracts, loans, or car finance.
References:
https://www.benx.co.za/originator_landing.asp?oguid=FEEAFE82-6617-4C2E-9F14-9D62A817102E
