Scams Are Getting Smarter, So Should You
As more young South Africans go online and apply for credit, scammers are watching closely. Whether it’s fake loan offers, phishing messages, or identity theft, fraud can wreck your credit before you’ve even built it. The good news? A little knowledge goes a long way in keeping your information (and credit score) safe. On this blog, we share common credit scams and how you can protect your identity and credit as a young adult.
Common Credit Scams in South Africa
Fake Loan Offers
“Get R10,000 now, no credit check!” Sounds tempting, right? Scammers use these lines to steal your info or charge upfront fees for nothing.
Red flag: If they ask for money before giving you a loan, it’s a scam.
Phishing SMSs and Emails
You receive an SMS claiming to be your bank, asking you to “confirm your details” via a link. Don’t click!
Red flag: Banks and credit providers will never ask for login details via SMS or email.
ID Theft
If someone gets access to your ID number and personal details, they can open accounts in your name, damaging your credit.
Red flag: Unknown accounts or suspicious activity on your credit report.
How to Protect Your Identity and Credit from Scams?
- Never share your OTP or ID number with strangers
- Don’t click on links in unexpected messages
- Only apply for credit on trusted, secure websites
- Check your credit profile often to spot any suspicious changes
Scammers are out there—but you’re not powerless. By staying alert and checking your credit profile regularly, you can protect yourself and build a strong financial future.
Keep an eye on your profile with Splendi. It’s free, fast, and secure.
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. Splendi does not provide personalised financial, investment, legal, or tax advice. Always consult with a qualified financial advisor for guidance tailored to your individual circumstances.
