Credit Simple
You’ll often hear people say that you shouldn’t go to university unless you know what you want to study and how you’ll use it in a job later on. I disagree; I think all university study is useful in one way or another. It’s not just a degree – it’s a formative experience – and I personally don’t think it’s ever a waste of money, time or effort. But I’m speaking from the point of view of having got my…
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Before we had the Kardashians to keep up with (yes, there was life before the Kardashians), we kept up with the Joneses. The Joneses were more figurative than literal and didn’t have their own TV show; they represented the people next door who owned more (and better) gadgets than you. The Joneses and the Kardashians – along with social media, celebrity culture and reality TV – are responsible for creating the #YOLO attitude: You Only Live Once. It’s a lifestyle…
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Getting a zero credit score can be a bit of a shock. If they were emojis, it would be a bit like this guy. But don’t worry, you can turn your emoji frown upside down with a few fixes. But first, a bit about why you got a zero score. For 85% of people with zero scores, they’ll have a default or a bankruptcy on their file. This is the major problem: not paying your bills. Lenders want to know…
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When you owe half a million dollars on your own home, you want to know things are going to be okay. So what if interest rates start to make their way up? Nine’s Finance Editor Ross Greenwood suggested this week that banks may try to edge up rates over the next 12 months. Some say there will be Reserve Bank interest rate cuts, others see pressure on the bank to raise them. Predicting this is never easy. But out in…
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If it feels as though you’re struggling with money problems, the best thing you can do is ask for help. You’re not the first person to get into debt, and you won’t be the last. The sooner you get started on fixing the problem, the sooner you can put it all behind you. It can be amazing how much weight feels lifted off your shoulders once you sit down with someone and lay out your situation. There are many, many people…
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It was something people used to take for granted: you save for deposit, you get yourself a mortgage, you find a modest little house and off you go: a property owner in Sydney, or Melbourne, or Launceston, or Townsville. But how much does that picture line up with the reality these days? We’ve been looking at some recent media stories, and when you line them up you see many trends that suggest the dream could be slipping out of reach…
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So you got your credit score, but you can’t understand why you got the score you did. Maybe it’s quite high (yay!) or maybe it’s low (or even zero). Here’s a rule of thumb guide to understanding your credit score. Two big things to keep in mind are: Credit scores of 1,000 are really rare, and anything over 800 is pretty standout. If your score isn’t as high as you think it should be, this could be because your current…
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Your credit score indicates how financially healthy and responsible you are, and how likely you are to pay your debts. Your illion score via Credit Simple will range from 0 – 1,000 and shows you how banks and other lenders see you. Understanding how this score is calculated is crucial to improving your score, so you can get better deals from your bank, telco, insurance company and more. Here’s what affects your credit score: Defaulting on a payment, even if you…
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I got asked for ID last week at the liquor store and I was shamefully delighted about it, earning me the disgust of the very young checkout assistant. And while she might be in need of an eye check, once I stopped waving my ID in her face with glee it occurred to me that she probably thinks I am just a sad old lady eying up forty. While this might be true, I don’t miss my twenties. I might miss…
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Imagine you’re on the cusp of getting a hot new job, and your prospective boss says they’ll need to do a credit check. You’re pretty sure there’s some bad info on there, and anyway, isn’t it a breach of privacy? Fret no more, dear reader: we bring good news. Firstly, it’s true that other parties can check your credit report – landlords, recruiters, telcos, insurance providers and utility companies, as well as employers. However, they can’t do it without your…
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