Posts Tagged :

credit score

Five top money tips for preparing for Christmas

The Christmas season can be a tough one, and our data shows Aussies are more likely to let their credit bills languish unpaid at this time of the year compared to any other. If you’re anything like the average human, you’re probably feeling the effects of spending up large in the lead-up to the festive season and in the lead up to Boxing Day sales. “It’s easy to get caught up in spending over Christmas, but if you’re going to use credit to…

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Introducing Credit Simple for Business: See your business credit score and information instantly, online and free

When we launched Credit Simple, we did so with the aim of helping Aussies live their best financial lives. And since launching in February 2017, we’ve added to free credit scores by creating Money Simple, a spend tracker, and Clear Name, a way for people to pay off unpaid defaults at a discount. Now, we’re launching a new tool for directors. It’s called Credit Simple for Business, and it allows you to see credit score, report information, risk profiling and…

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Why did my credit score change?

Due to the amount of information that is used to calculate your credit score, it’s easy to see how your score can fluctuate. Still, if you don’t believe much has altered in your financial habits and your credit score still has changed, it can be confusing. Here are a few common reasons why credit scores change: You applied for a new loan or credit card Any new applications you make for credit will directly affect your credit score. Keep in…

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Help! Nothing has changed on my credit file, but my score has changed. Why?

So your credit score has changed, but you can’t see anything immediately obvious on your credit history to indicate why it’s different? There are a few reasons why your credit score can change, even though it doesn’t look like anything has changed on your credit history. Some of the reasons why your credit score may change are: Data is only held on your credit file for a certain amount of time, something that is decided by privacy laws. A default…

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How your credit score affects the interest rates you pay: Welcome to the brave new world of risk-based pricing

Watch out! Your credit score could soon affect the interest rate you pay. That’s good if you’re a “unicorn” with a credit score from 801 to 1,000, and not bad if you’re a “thoroughbred” with a score of 601 to 800. If, however, you’re a credit “donkey” at the very bottom of the credit score pile, a credit pony at 201 to 400, or a farm horse from 401 to 600 you could well pay more. Why “donkeys” pay more…

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Comprehensive Credit Reporting – what’s changing (and how it may affect you)

You might’ve heard talk about Comprehensive Credit Reporting being a ‘thing’ in Australia. It sounds complicated (and let’s face it, probably a bit boring). So what is it, and how could  it affect you? And how can you get the most out of it so that you may be able to keep more money in your own pocket? Comprehensive Credit Reporting  –  what it is and how it works Credit reporting used to be about people doing ‘bad’ things (such…

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Five things you need to know about Comprehensive Credit Reporting (and how it may affect you)

Comprehensive Credit Reporting is a regime that helps lenders judge how well you can manage your borrowing commitments and make repayments. Let’s take a closer look at what the system is, how it works and the potential impact on credit scores. 1. Changes are happening in 2018 More data may soon be included in your credit report, but what exactly does this mean to your credit score and finances? As you may have heard, there was a change to credit…

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How do I get a clear score for credit applications in Australia?

Have you ever forgotten to pay a mobile phone bill? Perhaps one of your credit card payments was a little late? These may seem like minor issues, but they can leave a lasting black mark on your credit history that may affect your access to lending. Working your way towards a better credit rating can improve your financial situation, but what helps you get a clear score for credit in Australia? What does a ‘clear score’ even mean? Credit defaults…

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Credit score FAQ: What are the benefits of a clear score?

Your credit score is a bit like a heart rate for your finances. It offers lenders a quick and simple way to gauge your overall financial health. One of the key differences is that a credit score can never be too high! A clear score doesn’t necessarily represent a perfect credit rating (which is 1,000 in Australia). But chances are a clear score means you don’t have any significant black marks – such as defaulted payments or bankruptcies – on…

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Life hack: How to beat credit card interest

If you’ve got a credit card but you’re sick of being stung with interest costs, you might be wondering how you can avoid paying interest but still use the card for the maximum benefits. We’ve broken it down. Credit card interest – the good, the bad and the ugly Each month, your card will tell you the total amount you owe on your account, and it will also tell you the ‘Minimum Payment Due’. You might choose to pay just…

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