Case Studies

There are approximately 17.5 million credit active consumers in South Africa, but levels of financial literacy are low. Experian South Africa is partnering with institutions and organisations including The Credit Ombudsman, the National Credit Regulator and the Credit Bureau Association to support events and workshops explaining the credit process, recent changes in regulation and financial literacy in general. 59 sessions were held countrywide educating over 6,000 attendees in 2010.

Experian North America launched a new interactive website to collect and share real life consumer stories. The aim of LiveCreditSmart.com is to help consumers understand the factors in their credit reports that determine their risk in the eyes of possible lenders. Members of the public facing credit challenges - whether they be recent college graduates struggling to find a job and make ends meet or families trying to tackle a mountain of debt after the loss of a job – were invited to submit their stories to the website. A public vote determined the best, and five winners received $5,000 to help pay off their debts, as well as free counselling from their local chapter of the National Foundation of Credit Counsellors who helped them put together a personalised plan to rebuild their credit and take control of their personal finances. The Live Credit Smart outreach will continue through social and public media in its goal to help every consumer learn to live credit smart.