The National Credit Act

The National Credit Act was signed into law by the South African President on 15 March 2005, and governs the assessment, application and maintenance of credit granted by a credit provider to a consumer within the Republic of South Africa.

The objective of the NCA

Level the playing fields amongst all credit providers especially & including:

• the manner in which credit is granted
• how consumers are treated when applying for credit
• the ongoing relationship between the credit provider and their client
• to limit over-indebtedness by placing the responsibility on the credit providers to ensure that they do not grant credit recklessly.

What are your rights as a consumer?

• all information presented to you must be in plain and understandable language
• you are entitled to apply for credit (note: a credit provider can decline your application)
• you are are protected against discrimination in respect of the granting of credit
• if the credit you applied for is refused, reasons must be provided
• receive all relevant documents pertaining to the credit agreement
• protect your consumer rights