credit report Archives - Credit Simple

3 signs your partner may be struggling with money

15 February 2022

Romantic partnerships can come in all shapes and sizes, from marriages to de facto relationships to casual relationships and everything in between. No matter what the relationship, it’s always possible to end up in the shallow end if your significant other (SO) is drowning in debt or has poor spending habits. Here are some common ways your partner can burden you with their debt and how you might avoid it: 1. You try to take out a joint loan with…

What is a personal loan?

By: Credit Simple

12 February 2020

A personal loan is a monetary loan you can get from a credit provider such as a bank, credit union or online lender – usually for a specific life purpose like renovating your home, paying for a holiday or consolidating several smaller loans. Lenders approve personal loans by evaluating your creditworthiness. When you enter into a contract for a personal loan, you typically receive money in a lump sum and agree to repay the lender back the money in regular…

Debt consolidation loan vs. balance transfer credit card – which one to choose?

By: Credit Simple

6 January 2020

When you consolidate your debt, you are essentially taking out one large loan and using that money to pay off two or more smaller debts. The two major ways you can do this is by applying for a balance transfer (BT) credit card or taking out a debt consolidation loan. This guide explores why you’d want to consolidate debt in the first place and then looks at your two options to help you determine which one is right for you.…

Here’s what a credit report actually looks like

By: Credit Simple

12 December 2019

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,…

Knowing what affects your credit score will give you the power to improve it

By: Credit Simple

4 December 2019

In the old days, only negative borrowing patterns – think late payments and defaults – could affect your credit score, also known as your credit rating. However, just recently, Australia joined the 21st century and implemented a scheme called Comprehensive Credit Reporting (CCR). That means positive borrowing patterns – like making your payments on time – can help your score tick back upward. The positive and negative factors that affect your credit score Before we jump into the nitty gritty,…

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

By: Credit Simple

23 October 2019

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…

Six million homeowners could get a better mortgage

By: Credit Simple

19 September 2019

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…

How do I know if I have a bad credit score?

By: Credit Simple

1 January 2018

Is 600 a bad credit rating? How about 500? Or 400? Without context, calculating your creditworthiness based on your score alone is difficult. Fortunately, we’re here to help you better understand your credit rating, particularly if you suspect you have a bad score. Repayment history information, including any late payments, stays on your file for two years before you’re free and clear. The good, the bad and the ugly Your illion credit score via Credit Simple ranges from 0 to…

Where can I get my credit report?

By: Credit Simple

1 January 2018

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…

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

By: Credit Simple

30 November 2017

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…