PROTECT YOUR SCORE WHAT THEY DON’T TELL YOU
During tough times, many of us can get overwhelmed and go into over-drive to keep up with our financial pressures.
However, many people do not realise that a simple telephone call in trying to get a financial loan approval can affect our credit rating score.
We want to help protect you and your credit rating score.
HERE ARE OUR TIPS
- Make sure you do not finance any negative equity from a previous loan, which is where the value of an asset used to secure a loan is less than the outstanding balance on the loan.
- Pay off your debts when they fall due as per your loan agreements.
- Ensure that you keep a clear credit history with no payment defaults on any accounts.
- Avoid allowing your bank account/s to go into overdraft.
- Minimise the number of loan enquiries you make.
- Avoid taking out quick 'same day’ loan approvals or short-term loans.
- Focus on saving for a deposit so that you can show a savings history with your finances.
Understanding the impact of financial decisions can often be more complicated than you think.
We always recommend that you seek professional advice before making any decisions.
