How to Get Good Clean Credit in Queensland

By First Home Australia In News No comments

When applying for a loan there is nothing better than having a good credit rating. It sounds hard to believe, but there are many people who think they have a good rating when in fact they have a bad credit rating, and on some occasions, this can be merely a simple oversight.

Your Credit Report

You can find details of your credit report via a written application, the complete process for this will take around two weeks. If you require confirmation of what your credit report contains, you can pay a small fee and you will be able to access this information within 48 hours.

This credit report is used by lenders to see if you are a good candidate for being able to repay your debts. If you have a bad credit report, what can you do?

Credit Reports Can Contain Mistakes

This is the first step… your credit report can include mistakes that will only be noticed by you, so, it is therefore, important to carefully check all of your details, such as:

  • Personal Details
  • Mistaken Judgements and/or Defaults
  • Old Judgements and Defaults
  • Credit History Details

Debt Consolidation Loans

When you have varying loans with different interest rates, it can be difficult to meet these and impossible to manage. If you find you have a negative credit report, there is not much you can do. So, make sure this does not happen. Debt consolidation loans can combine all of your debts into one repayment, which actually comes with a lower interest rate than normal. When using this option, all of your current defaults will be wiped clean and you will be able to manage your debts much easier.

Direct Debits

Physically paying bills can be time-consuming and a nightmare to remember to do. There is an option where you can instruct your bank to make these payments automatically. Once you have set it up and given the instructions, the payments are automatically deducted from your account every month.

Add Positive Information

Certain information can be added to your credit report which can benefit you. Lenders look at extra information in a positive way. So, you’ll actually have a higher chance of obtaining credit. Certain facts like being married or being with the same employer for a period of two years can have a positive effect on your credit report. If you are in this situation you can contact the credit control companies and have this information added.

First Home Australia

A bad credit rating does not necessarily mean you can’t purchase your first home. If you are a first home buyer, and you are considering using the services of First Home Australia, don’t let this deter you.

We have professional finance experts who can help you with your credit situation and who can give excellent advice on the best way forward for you to move into your new home.

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