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Posts Tagged :

credit history

Here’s what a credit report actually looks like

If you’ve ever wondered what your credit report looks like, wonder no more. This guide will give you insight into your credit report, including what information it contains, how to read it, and why it’s so important. There are three main credit reporting bureaus in Australia, and you can access their version of your report in a number of ways, including in a written/physical format or through an online dashboard. Each variation may differ slightly in the way it’s presented,…

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Here’s how to grow your business if you want to take it to the next level

So business is booming and you’re not content to just maintain the status quo…. you want to grow your business into something bigger. Well, strap in because you’re in for an exciting ride that will expand your skills, test your mettle and ideally put your business on the trajectory toward bigger success. Here are some tips that any small business, sole trader or freelancer can use to grow their business, regardless of industry. Decide how you want to grow There…

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Comprehensive Credit Reporting is a boon for Australians

Just as we hoped, Comprehensive Credit Reporting (CCR) has improved the credit scores of millions of Aussies. Late last month, the Big Four banks shared the remaining 50% of lending data with the credit bureaus, marking the biggest milestone in the history of the new reporting regime. Literally overnight, nearly half of all Aussies using Credit Simple received an improved credit score. What is Comprehensive Credit Reporting? CCR is a reporting scheme that takes all of a borrower’s credit history…

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Six million homeowners could get a better mortgage

Up to 6 million Australians could save up to $40,000 over the life of an average 25-year mortgage, following the introduction of new laws by the Australian Government, according to consumer advocate group www.creditsimple.com.au. The introduction of Comprehensive Credit Reporting (CCR) means Australian banks are about to load millions of records with the credit bureaux, and lenders will now be able to see the positive records of the country’s 6.4 million home owners for the first time. www.creditsimple.com.au CEO David…

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How to find the best home loan for your needs

Of course you want a home loan with low interest rates, minimal fees and an offset account that lets you deduct 100% of the balance from the amount owed. But other than that, the definition of the “best” loan varies based on your personal circumstances. Ready to apply? Check out our offers page for a range of home loan offers to suit your needs. See offers The basics As described in the intro, there are three basic things all hopeful…

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Everything you need to know about online home loan calculators

Online home loan calculators can be among the most valuable tools you’ll find as you seek to maximise your borrowing capacity, nab the best deal and work out the most cost effective way to pay the darn thing off.  What is a home loan calculator? “Home loan calculator” is actually a catch-all term that applies to an entire category of calculators that each has its own function.  For example, one type of calculator will estimate how much you can borrow,…

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The right way to apply for a credit card

If you’ve thought long and hard about your need to get a credit card, and have narrowed down your options after an exhaustive comparison of rates, fees and perks, then the next step in the process of getting a credit card is to actually apply for one. Nowadays, most card providers let you do all this online, but applying for a credit card isn’t as easy as ticking a box. It can be a bit of a process, involving photo…

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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. Your credit score, which is sometimes referred to as your credit rating, will generally range from 0 to either 1,000 or 1,200 depending on the credit bureau calculating it. Your illion score via Credit Simple will range…

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The pros and cons of becoming a guarantor

‘Going guarantor’ are two dangerous little words. “Nan, will you go guarantor on my car? You don’t have to pay any money.” Stop right there. Going guarantor can be a great way to help others out. But it’s way more risky than most people think. Read this article before you say yes or no. The worst-case scenario is that the lender comes after you for the money. Parents have lost their homes from going guarantor and families have been torn…

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So you think you don’t have a credit history …

An acquaintance said to me – rather smugly – the other day, “I don’t need to check my credit score, because I don’t have a credit history.” “Oh, you don’t?” I said. “Have you checked it in the past and discovered you didn’t have a profile in the system?” “No,” he said. “But I’ve never had any hire purchases or a car loan, so they won’t have anything on me.” Many people think that a credit history is built solely…

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