With nearly half of South Africans considered financially illiterate, the urgency to improve financial education is growing. A lack of knowledge around credit, budgeting, and debt management leaves many consumers vulnerable to financial instability. To bridge this gap, RCS has partnered with Massmart to introduce the Credit Gateway Tool, offering free access to vital financial wellbeing resources for Game mystore card, Makro Credit, and Builders Store Credit customers.
Empowering consumers with free financial insights
Powered by Welltec Group, the Credit Gateway Tool provides users with no-cost access to their credit reports and scores — essential information for understanding and improving financial health. Beyond simply offering reports, the tool delivers personalised budgeting advice and financial support services, helping South Africans navigate their financial responsibilities more effectively.
This initiative is a step towards tackling financial illiteracy at scale, giving consumers the knowledge and tools they need to make informed decisions. “Massmart, together with RCS, is committed to supporting our customers’ financial well-being,” says Riaan Nieuwoudt, Executive of Services and Membership at Massmart. “By providing easy access to essential resources such as credit reports and personalised financial guidance, we’re equipping consumers with the knowledge they need to make better financial decisions.”
Practical steps towards financial wellness
While access to credit reports is an important first step, true financial wellness requires active engagement. Glenda Eagar, Product and Marketing Executive at RCS, shares three key strategies to improve financial wellbeing:
1. Review your monthly budget
A new year provides an opportunity to reflect on financial habits and set new goals. Ask yourself:
- Has my income changed?
- Am I living within my means?
- How was my money spent?
- Have I saved regularly?
Answering these questions can help identify areas for improvement, whether it’s cutting unnecessary expenses, automating savings, or adjusting spending habits.
2. Manage your debt responsibly
Consumers with multiple credit accounts should stay informed about their repayment schedules and avoid penalties by making payments on time. Understanding interest rates and fees associated with various credit facilities can prevent unnecessary financial strain.
3. Keep track of your credit score
A strong credit score opens doors to better financial opportunities, from lower interest rates on loans to improved access to credit. Regularly checking one’s credit score helps identify potential issues early and allows consumers to take corrective action before problems escalate.
Bridging the financial literacy gap
The Credit Gateway Tool is just one of many efforts aimed at improving financial literacy in South Africa. Financial instability remains a major challenge for many households, exacerbated by high levels of debt and a lack of access to clear, accessible financial guidance. Initiatives like this play a crucial role in equipping consumers with the knowledge they need to navigate these challenges.
By making financial literacy resources widely available, RCS and Massmart are helping to shift the narrative — from financial exclusion to empowerment. For those looking to take control of their financial future, the Credit Gateway Tool is a valuable starting point.
How to access the credit gateway tool
Consumers can begin their journey to financial wellness by accessing the tool here or visiting the RCS, Game, Builders, or Makro websites.