WHY IS IT IMPORTANT TO HAVE “GOOD CREDIT”?
Your credit check will show any accounts where you have taken out credit. This includes credit cards, loans, mortgages, and any credit agreements you have in place, such as anything you’ve bought on finance, or utility debts. It may include any closed credit accounts.
To calculate your score, we will look at: Your debt (past and present), including any problems you’ve experienced repaying that debt. Loans (and loan enquiries) you’ve taken out for household, personal or family reasons; or to buy, refinance or renovate a property; or as a guarantor for someone.
Good credit can be the make-or-break detail that determines whether you get a mortgage, car loan or student loan. Bad credit, on the other hand, will make it difficult to get a credit card with a low interest rate and more expensive to borrow money for any purpose.
WHAT DO I DO NOW?
If you don’t have good credit, you may miss out on securing a low-interest rate on a mortgage, personal loan or credit card, and wind up paying more during the term of your loan. But if you establish a good credit score, you can save money on interest payments and use the savings to invest in your future.
We work with most major banks in Australia to check and repair your credit. All you need to do is make the first move and contact us!