Some Questions to Consider if you are checking your credit rating for a car loan, resources courtesy of http://www.carloans.com.au/
- One of the most important aspects of personal finance is your credit rating, but how many people know what their credit report says?
- Did you know that you could see your credit report and see who is making inquiries on your credit rating?
You may not even realise that your credit rating is not good until you apply for a loan and find that there has been an error or you may have had a dispute with a creditor and you need to put your explanation on your credit report for any prospective creditors to view.
Each financial institution looks and rates different aspects of your credit report. So don’t despair if you have had defaults in the past if you have since made an effort to show regular savings. As stated, each financial intuition values different aspects of your credit report in different levels of importance. Even simple things like your mobile phone bill are important. If you find it difficult to pay your mobile phone bill on time then how is a lender to believe that you can make mortgage repayments?
- You can view your credit report by contacting Veda Advantage.
- To improve your credit score you should try to use your credit card as often as possible to show consistent timely repayments.
- You may even need to get a second low interest credit card to ensure that you always make your payments on time if you find yourself juggling your finances.