Posts Tagged :

credit score

Help! Nothing has changed on my credit file, but my score has changed. Why?

So your credit score has changed, but you can’t see anything immediately obvious on your credit history to indicate why it’s different? There are a few reasons why your credit score can change, even though it doesn’t look like anything has changed on your credit history. Some of the reasons why your credit score may change are: Data is only held on your credit file for a certain amount of time, something that is decided by privacy laws. A default…

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Is Credit Simple legitimate and reliable? Our response to questions on Reddit, Geekzone and elsewhere online

Welcome to Credit Simple. If you’re reading this blog, chances are you’ve found your way here after asking a search engine if our business is legitimate (such as here on Geekzone and here on Reddit). So we thought we’d give you the low-down on myths and truths about our business, credit scores, and your rights and privacy. Pffffft. Everyone uses Veda! Nobody uses Credit Simple. There are three credit reporting agencies in New Zealand: illion (Credit Simple’s parent company), Equifax…

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‘Rate my tenant’ – what does your landlord know about you?

Did you know how landlords score you and why you should care? We caught up with Ian Barker, managing director of Tenant Information NZ (TINZ), to answer some frequently asked questions about your information, privacy, and rights, and how tenants can view their file. Tell us about TINZ and how my landlord might use it? TINZ is a tool developed for landlords to help landlords and property manager screen tenants.  The search returns data from 15 different databases and uses verified…

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Has Cupid’s arrow struck? Don’t date your way into debt!

We know your new girlfriend or boyfriend wants to go out every Friday. Even two drinks each, some snacks and an Uber ride home could set you back $50. It’s dead easy to blow $100 if you throw food in as well. What’s more, dating can send your credit score south. Fast. Let’s say you spend $150 a week going out, $300 a couple of times a year on a weekend away, $200 on his/her birthday, and flowers or chocolates…

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Help! I can’t pay my mortgage

Perhaps you’ve lost your job, you’ve fallen ill, can’t sell but have bought a new property, the property is uninhabitable thanks to an earthquake, or have no rent coming in. Whatever the cause, if you can’t make mortgage payments your finances can turn to custard rapidly. Non-payment will do your credit score a lot of damage. Even worse, it ultimately leads to your home or investment property being repossessed if you can’t make mortgage payments. Talk to the bank and…

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Feeling overwhelmed by your money problems? Here’s some free expert help

If it feels as though you’re struggling with money problems, the best thing you can do is ask for help. You’re not the first person to get into debt, and you won’t be the last. The sooner you get started on fixing the problem, the sooner you can put it all behind you. It can be amazing how much weight feels lifted off your shoulders once you sit down with someone and lay out your situation. FinCap can put you…

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Donkeys in a field
How your credit score affects the interest rates you pay (and welcome to the brave new world of risk-based pricing)

Watch out! Your credit score could soon affect the interest rate you pay. That’s good if you’re a “unicorn” with a credit score from 801 to 1,000, and not bad if you’re a “thoroughbred” with a score of 601 to 800. If, however, you’re a credit “donkey” at the very bottom of the credit score pile, a credit pony at 201 to 400, or a farm horse from 401 to 600 you could well pay more. Why donkeys pay more…

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Suspect man on laptop
What to do if you’re the victim of identity fraud

Everyone knows someone who has been a victim of fraud. It can be a nightmare when a cybercriminal has dipped into your bank account, stolen your credit card details or taken out credit in your name. In the short term your credit score is going to take a dip because you can’t simply delete it. Don’t despair, however. You’re not the first person in this situation and it can be ironed out. There are a number of different types of…

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Will closing my credit cards hurt my credit score? The surprising truth

You’d think closing off credit cards or other accounts would boost your bankability in the eye of credit providers. The reality is that sometimes it can do exactly the opposite. Closing off some accounts after paying down your debt may actually harm your credit score. Take mortgages for example. It would be natural to think that clearing your home loan would improve your credit score. But hold that thought. One of the lesser known things that could hurt your credit…

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State of the nation: National voters outdo Labour supporters when it comes to credit scores

Credit scores may tell us more about Kiwis than just how good we are at paying bills – our research shows they also hint at voting preferences. We overlaid New Zealand electorates with average credit scores and found those in National electorates are more likely to have a higher average credit score (652) than those in Labour electorates (621). The six highest average scoring electorates are all National: Rodney, North Shore, Selwyn, East Coast Bays, Pakuranga and Waimakariri. The three…

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