To help keep your credit file squeaky clean for when you really need it, here are some dont’s:

• Don’t pay a debt more than five days late
• Don’t shop around for credit cards and store leases when you don’t need them
• Don’t forget to contact your lender to renegotiate your loan repayment terms if things become difficult.

Repairing Your Credit Score

These above issues can have a negative impact on your credit score and could make the difference between being approved for a loan/credit card or not. The credit environment the Banks operate in means we have to be proactive in order to protect our credit file.

Generally, applicants for first home loans are more likely to struggle with a clean credit score. If you are in the position of paying a mortgage and have been meeting the required repayments, it is a great benefit to your credit rating for either a new home loan (if you move for example) or an investment loan.

If you need advice or help to improve your credit score and perhaps be approved for a loan that you have previously been declined for, contact us today.