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Get your financial standing back on track with a Free Credit Rating Check carried out by our in-house experts.
It's essential to maintain a steady, time-bound check on your credit rating. Remember, your credit score or rating could mean the difference between a loan approval and rejection, a favorable rate of interest or an usurious one. In Australia, the average adult with typical responsibilities and obligations generally maintains a credit score of 750. While that is reliable enough for banks and financial institutions to lend to you, it is certainly not good enough to get finance on your own terms. This is why it's highly profitable to keep a frequent credit score scan to ensure that you're on the right track. At the minimum, you should check your credit score every 12 months.
The first thing to understand about your credit rating is the elements that it is dependent upon. Simply put, your credit score relies on your stability, or lack thereof. Getting a new job implies stability, whereas shifting jobs all too frequently within short periods of time will weigh against you. Similarly, disassociating your finances from those of your children as they grow older, or buying a new house is usually viewed in a positive light. Basically, the more fixed assets that you have in your own name, the better it is. Banks and financial institutions know that they can apply a charging interest on your asset in case of a default, and recover their money with little or no effort on their part.
Lenders use their own scorecards or ratings sheets to determine what counts as a good credit score, and on what terms. This is the deciding factor on the kind of conditions they'll apply while providing you with a loan. All lenders have their own specific "cut-off score" on the difference between a good credit rating and a bad one. Depending on the agency you apply to for finance, if you make the cut-off, you're adjudged as a good bet. If not, well, better luck next time. The catch here is that a failed application for a loan reflects poorly on your credit report, and thereby, your credit rating. Therefore, when we do your credit rating check, we make sure that you do not apply for a loan where you're unlikely to get one.
How do we do this? Well, based on our years of industry experience, we have extensive knowledge on the kinds of factors that lending agencies apply while assessing an individual's credit rating. Using their own scorecards to your advantage, we can predict whether you meet their requirements in terms of financial viability. This means that if you've already had your credit score check done through us, when you apply for a loan, you'll already know that your application is more likely to be approved.
Moreover, you can track the improvement to your credit rating while we work on removing as much of the negative history from your credit report. Based on our versatile experience dealing with credit servicing, we ensure that your credit score only improves further and further as we work together towards that elusive 'AAA rating' that will get you the best rates of interest, virtually no loan rejections, and the ability to choose among multiple options while opting for financiers and lenders.
Another advantage to a healthy credit rating is the option of a credit card laden with benefits that work to your favor. Credit card agencies and banks will usually provide you with credit cards that are commensurate with your credit score. A quick credit score scan will indicate the quality of the card you'll receive, its lending limits, the premiums you'll have to pay, and so on. Basically, working with us, you'll find that you move up the ranks towards receiving an excellent credit card deal that allows you to place credit more confidently, and repay it with more convenience. Credit rating checks are an essential part of managing your personal finances, and maintaining a stable financial outlook. Repeat reviewing of your credit score, along with putting aside savings and keeping track of spending, is the keystone towards becoming a financially successful individual in society.
Finally, besides giving you an idea of your financial health, it serves another important purpose. Your credit rating is basically an accumulation of your personal identity, along with a summarized score of your financial history. If your credit history is being manipulated, or you're a victim of identity theft, then your credit score will be the first indicator of the same. So if you find any social security entries that do not belong to you, it's time to launch investigations and take corrective action.
This is why you need to undergo credit score scans with us. We'll do what's necessary, and furthermore, what's beneficial to bolster your credit rating to a point where you're able to walk in to a bank or lending agency and confidently claim the credit that's rightfully yours.
Call Us Today For A Free Credit File Review - Tel: (02) 8677 7299