July 13, 2015 1:52 pm

How to Manage Your Credit and Personal Debt Efficiently


It is common for people to turn to debt to pay off their homes, cars and even personal use. Credit can cause great financial stress if not managed correctly. If you have a loan under your belt, the goal is to cut it down and to stop borrowing more to alleviate your financial health. Here are some of the surefire ways to cut down debt: Only get credit you need One of the reasons why people have a hard time managing their debt is because they borrow more than what they can repay. When applying for credit, ensure that you [...]

How to Manage Your Credit and Personal Debt Efficiently2023-03-03T00:01:37+10:00

September 3, 2014 4:47 pm

Credit Scores Made Available Online by Veda


Borrowers can now get a hold of their credit score using a new website that was launched by Veda and lending platform Society One. The new website allows borrowers to check their VedaScore online, making it easy for them to choose better deals and empower them in negotiating better terms with lenders. As credit scores become more important for Australians, it’s just about right to have a clear idea of your financial standing so that you can choose the best lender for you. Head to the website to gain access to your credit score. Read more about this on [...]

Credit Scores Made Available Online by Veda2023-03-03T00:01:38+10:00

March 12, 2014 1:50 pm

Credit Reporting Changes Start Today


Changes to credit scoring will take effect today, but most Australians are unaware of these important changes and how it will impact their credit capabilities. A recent survey from market firm Experian shows that 74% of their respondents are not aware of such changes, and worst, 61% cannot recall credit providers mentioning these changes. 30% of the survey’s respondents said that they will be more loyal customers provided they will be educated about the changes to their credit report. Educating clients regarding these changes will be very important, as it gives them an idea what information will be accessible to [...]

Credit Reporting Changes Start Today2023-03-03T00:01:41+10:00

Changes to Credit Reporting to Commence on March 12


The new credit reporting system will be implemented on March 12 with several changes said to benefit investors. Majority of people should take advantage of the new system, as it promotes transparency and will allow lenders to offer a wide range of terms to their clients with the information made available by these changes. The changes to the Privacy Act will allow lenders to access comprehensive information that will provide them a better view of the borrower’s financial capacity. A quick run-through of the changes include: Monthly repayment information. The decision to approve or decline your credit will now be [...]

Changes to Credit Reporting to Commence on March 122023-03-03T00:01:41+10:00

October 15, 2013 10:49 am

How To Avoid a Financial Blunder


Here’s a great way to keep your budget in check. Karina Barrymore of the Herald Sun outlines the most common sources of budget catastrophes – and it does include things we most often avoid. It is strongly advised that we go through our bills and tackle these financial challenges head on. Credit cards and bank accounts are two of the most common sources of these financial mishaps, as incorrect and fraudulent charges are often a culprit. It is strongly encouraged to double check repayments and remittances are reflecting on your account on a religious basis, to avoid confusion in the [...]

How To Avoid a Financial Blunder2023-03-03T00:01:42+10:00

Are Your Credit Card Debts Going to Last Longer Than Your Marriage?


In the past 2 years, credit card debtors have paid only 45% of Australia’s credit card debt of $49.6 billion. If this continues, expect your debts to last longer than your marriage, according to Finder, a comparison web service. This is attributed to credit card holders’ content in just paying the minimum amount. It is interesting to note that credit card debts last 3 times longer than the average marriage length for the country, at 12.3 years. On the average, if the minimum amount is paid, it takes 42 years to pay off the credit card debt as most of [...]

Are Your Credit Card Debts Going to Last Longer Than Your Marriage?2023-03-03T00:01:42+10:00

Credit Reference Agency to Make Credit Scoring Public


In a move to encourage transparency, Veda Advantage is making the credit scoring process public. Australian consumers can now see details of their loan applications, including reasons for rejection. This move gives finance brokers invaluable information – such as credit scoring, in assessing their clients in directing them to the appropriate lender. This move has been widely received as it not only encourages transparency, but it also promotes having a streamlined process across banks for home loan applications. You can read more about this on The Adviser website. [/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

Credit Reference Agency to Make Credit Scoring Public2023-03-03T00:01:43+10:00
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