u/Defiantpeanutbutt

Hi

I’ve been fortunate enough to never need a loan for anything, whether that’s a car, apartment, phone or laptop. I’ve always paid cash, and at the ripe old age of 31 I’ve recently realised that may not have been the smartest move.

How much of a disadvantage is having no credit history, and what’s the fastest way to build a credit score? Does it just mean I won’t be able to get a loan if and when I need one?

I’m expecting some criticism, but this isn’t exactly something they teach in school. I’ve also lived well below my means to be in this position. I ran a credit check and the result came back as “inconclusive”. I also spent a significant portion of my 20s living outside South Africa, for whatever that’s worth.