Posts Tagged :

credit score

Where can I get my credit report?

Where can I get my credit report? Keeping tabs on your credit score is crucial if you have hopes of funding some of life’s biggest purchases, such as a house or car. But what about your credit report? If you’re not sure of the difference, don’t fret, as we’re about to give you a crash course on credit scores and credit reports, including how you can get your hands on them both (for free). Your report contains all the information…

read more
Credit scores 101: How to check your credit score (and more)

You may not have put much thought into your credit rating before, especially if you’ve avoided credit cards, mortgages and other loans in the past. But there will likely come a day when you want financial help from lenders, so here’s our quick guide of everything you need to know about credit scores. Any score over 500 is good, so your rating may not be as bad as you think. What is a credit rating? Organisations use credit ratings to…

read more
What is a default on credit? (And how can I remove it?!)

Have you spotted a default on your credit rating? If so, your credit score could have taken a big hit. Let’s take a look at what credit defaults are, how long they stay on your report and the measures you can take to clear defaults from your credit history. You can only get a default actively removed from your history when a mistake has been made. Understanding defaults on your credit rating A default on credit is when you fail…

read more
The 2016 Census results are in: How do we look?

Census 2016 made its fair share of headlines. From #Censusfail, to the ensuing Senate Committee hearings, to the thousand and one think pieces breaking down everything that happened – more people probably talked about the Census itself than actually participated. But on June 27 this year, the Census data was finally released – and it provides a unique snapshot into living in Australia. From cultural makeup to credit scores to cars we own: mistakes on the night aside, the Census…

read more
Will a credit repair company actually help? Here’s what you need to know about credit file repair.

So your credit score is shot. And you need to borrow money, open a utilities account, or rent a home. If only you could repair your credit. Chances are you’re at your wits’ end and don’t know what to do. It feels unfair that your old defaults are holding you back. Credit repair is possible (sometimes). But beware of the credit repair industry. They can promise a lot but deliver – well, not very much.  Their services to offer to…

read more
Will closing my credit cards hurt my credit score? Consider this first

You’d think closing off credit cards or other accounts would boost your bankability in the eye of providers. The reality is that sometimes it can do exactly the opposite. Closing off some accounts after paying down your debt may actually lower your credit score. Take mortgages for example. It would be natural to think that clearing your home loan would improve your credit score. But hold that thought. One of the lesser known things that could hurt your credit score…

read more
Debunking 5 of the most common credit myths

Where do you get your credit score information? According to Australian Securities and Investments Commission (ASIC) research, many of us rely on less-than-authoritative sources. Their Financial Behaviour and Attitudes tracker found that just over a third of us use bank websites for information on financial products (while definitely authoritative, they may not be independent). Around one-fifth rely on friends and family, while only 10 per cent (roughly) use a professional financial adviser. When it comes to your credit, it pays…

read more
Nine ways to sabotage your own credit score

I’m working hard to improve my credit score these days. In the past I was a bit of a bad boy when it came to paying bills – so I’ve been looking into what will kill your credit score, and fast. Real fast. But just so you know: a good credit score is 500 or more on the scale of 0 to 1,000. Most of us Aussies sit between 400 to 600. Over 800 is brilliant. Anything less than 400 is…

read more
Wanting to get a foot on the property ladder? Here are five strategies to help you get there

As a young would-be home buyer, it can be tough getting a foot (or even just a big toe) on the property ladder. To help set Aussies up for success, CreditSimple.com.au spokesperson Emily Price provides her top tips for first time buyers to get started. 1. Use your score to leverage a better deal “The first step is to check your score via CreditSimple.com.au. If it’s above 700, you’re an attractive customer and you should pick up the phone to see…

read more
Know your rights - What to do if you’re being chased by a debt collector
Know your rights: What to do if you’re being chased by a debt collector

There’s nothing like owning a ferocious guard dog for dealing with debt collectors. Chomp, chomp, chomp. There goes the arm of that dastardly fella. Well, not really. Setting the dog on the debt collector isn’t going to solve your problems – it’ll just make them worse. Debt collectors don’t even taste that nice (or so we’re told). It’s easy to stick your head in the sand when you can’t (or forget to) pay a bill. But leaving all those envelopes…

read more