Skip to main content

HOW TO IMPROVE CREDIT SCORE


Are you thinking of applying for payday loans in Australia? Then credit score is an important factor in your financial life. The higher your credit score, the more likely you are to qualify for loans and credit cards at the most favorable terms which will SAVE you money.
If your credit card score is lower than you would like it to be, you are not alone. Getting rejected for loans and credit can be daunting in Australia. The good news is that you can recover from a ‘lower than you would like’ credit score. We have got some simple steps to help you improve your credit score and get your finances back on track!
payday loans

 1.  Pay your bills on time:

Did you know that your payment history makes up 35% of your overall FICO score? This means, every time you miss a payment, your score takes a hit. To avoid this, you could set up automatic payment methods. This will guarantee you never fall short on the due date!

  2. Get a credit card:
If you don’t own one already, it’s time you consider getting a credit card. However, it is important to refrain from splurging. You could start with a low spending limit and then make small changes that can be paid off in full each month. This will increase your credit score. Your lender will be able to notice you are a reliable and responsible borrower.

  3. Pay-off debt
Did you know that the amount you owe on accounts makes up to 30% of your FICO credit score? To improve your credit score, pay off your debt in installments!

 4. Regularly monitor and review your credit report:

It is very important to check your credit report regularly. Did you know that you could obtain a free credit report each year? Alternatively, you could also sign up for the monthly subscription to get your Equifax Score and monitor changes on your credit report by setting up credit alerts. If you spot any unusual activity, make sure you contact Equifax.

 5. Apply for credit ONLY when you need it:

Unnecessary credit can harm your credit score! It could create many hard inquiries on your credit report. Moreover, it may tempt you to overspend and accumulate debt.

 6. Be patient:

We get it. Having a perfect credit score is a dream. But let’s face it, your credit score won’t arise overnight. This is one reason why you should focus on developing good long-term credit practices.  Establish good habits, as mentioned in the above steps, and you will start seeing the difference in your credit score in time.
payday loans in Australia


Improving your credit score is an excellent goal to have if you are planning to apply for fast loan cash or instant payday loans or any loans in general. Though it may take several weeks, and sometimes several months to see a noticeable change in your credit score, the sooner you begin, the sooner you will see the results! Improving your credit score can help you negotiate a better deal with your lender that will reward your good credit history.
Labels:
Location: Australia

Comments

Post a Comment

Popular posts from this blog

Coronavirus and its “Draconian” impact on the Global Stock Market

Making its way into the Human world believably in Wuhan, China; Coronavirus-is a part of the family of the viruses that are found in Animals. Although the actual animal source is unknown, there are fingers pointing towards “Bats” which must have infected some animal sold at the wet Wuhan market where dead and live animals are sold. COVID-19 is closely related to Severe Acute Respiratory Syndrome (SARS) which swept around the world in 2002 and 2003 which soon ran it out. The devil is in the “no symptom” showcase of this virus as the person infected may not show any symptoms. This virus has made countries get into lockdown as the deaths from this virus have reached around 24,136 to date and around 530,000 people infected. These cases sweep around 80 countries on the globe which makes it a pandemic outbreak. Below is the image of the top five countries where the coronavirus has taken a major hit. Source:  https://www.worldometers.info/ How the economy started going down ...
Post a Comment
Read more

How to Handle Credit Card Debt?

Are you trapped in credit card debt? Well, and then know that you are not alone as studies show an insane number of people having credit card debts. However, not everyone is aware of the various quick and easy ways of paying off credit card debt like  cash loans online . If you are one of those who is also trapped in credit card debt and wondering whether you can utilize  payday loans   for tackling credit card debts or not, then here is all you need to know about how practically and smartly you can handle your credit card debt quickly. Pay Off the Most Expensive Debts First For those who have debts on multiple credit cards, the best way to handle credit card debt in such scenarios is by starting with paying off those with the highest interest rates. Whether it’s from your monthly income or by relying on  cash advance , make sure to pay off the debt of those credit cards first that have not only the highest interest rates but are also with the highes...
Post a Comment
Read more

Six ways to survive (and thrive) while living on a single income

In the present scenario, the cost of living is shooting up at an unprecedented level. Such a volatile situation calls for the provision of multiple revenue sources so that you can continue to live your life with a significant level of ease and comfort. However, if you happen to be an individual with a single revenue generation source, you should not feel bogged down. There are ample measures such as the  payday loans   at your disposal which you can use and thrive well against pressing situations. Apart from getting access to these  same day cash loans   which help you combat your crisis situation, you need to resort to certain things that will help you take much better care of your financial requirements even within the limits of a modest income parameter. Measures you can adopt Now, let’s take a quick spec at a few things which you can do. ●  Adopt SOME DIY : In order to trim the expenses of your household, you might get some DIY initiatives. For exa...
Post a Comment
Read more