Staying on top of your credit score is very important, especially if you’re planning to apply for credit.
You’ve probably learnt a lot of important facts about your partner while getting to know them – their birthday, the names of their family members, where they work, if they have any allergies – but have you ever talked about their credit score?
If you’ve been a member of Credit Savvy for a while now, then you are probably already aware of the reasons why you should monitor your credit score. It’s an important step in building and maintaining good credit, and with Credit Savvy, it’s completely free!
Many Australians are still unaware that missing credit card repayments can have a negative impact on their credit score and could prevent them from getting approved for more credit in the future.
If you’re a victim of fraud or if you’re concerned that you’ll likely be, there is one very important step you can take to minimise the impact.
A pre-approval for a home loan is treated like any other application for credit and these stay on your credit file for 5 years.
There are many ways to go about improving your credit score but fundamentally it does take time and requires you to maintain a healthy credit history.
While having a housemate can help you lower your housing costs, especially in areas where the rent is sky high, their actions have the potential to impact your credit score and your ability to access credit in the future. How you ask?
If you’ve been keeping up with the chatter around Comprehensive Credit Reporting (CCR), you would have heard all about the benefits that CCR brings, but you may also be wondering, “What if I’m in financial hardship? How will CCR impact me?”
Haven’t heard of Comprehensive Credit Reporting (CCR)? Never checked your credit score? Well, now is the time to do so! Why? Because your credit information will now be shared with Australia’s credit bureaus.