Credit Simple NZ
It’s October when I write this, which means it’s been Christmas in retail land for about six months now. While a couple of weeks off in summer in honour of Baby Jesus’s birthday is an attractive proposition for most of us, it can also be a financial time bomb, set to go off when the bills arrive in January or February. So how can you make it through the silly season without spending silly amounts of money? Short of converting…
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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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When you get an interest-free loan, it’s always interest-free, right? Wait a second. It’s only interest-free if you toe the line with the terms and conditions of the loan. And research we commissioned has found nearly half (48%) of Kiwis have made the most of deferred interest deals to purchase items with what can be a ‘free’ loan, but even the best intentions of paying off the loan in time can catch some consumers out. While most Kiwis paid off…
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There’s a famous passage in The Hitchhiker’s Guide to the Galaxy when Guide writer Ford Prefect tries to pay for a drink with American Express. The alien bartender is unimpressed with that suggestion, and after threatening to kill him on the spot, points out that his establishment doesn’t accept that particular credit card. Luckily, Ford has an ace up his sleeve, and offers the bar a favourable writeup in the Guide in exchange for free booze. “That,” rumbles the bar-creature,…
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Since we launched a year ago, awareness of what a credit score is and how your credit history works has increased (huzzah!) but more than 90 per cent of Kiwis have still never used their credit score to ask for a better financial deal. Research shows: Although 19 per cent of New Zealanders have ordered their credit score (up from 13 per cent in 2016), only 9 per cent of people have asked for a better deal because of their…
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While we’re all a bit caught up in election fever and trying not to engage in full-on fisticuffs with people who don’t share our political views, we need a bit of light-hearted, affordable fun. And not the sort of good times that involve ordering small but vomit-inducingly costly meals at painfully hip cafes. I mean activities we can actually afford and not feel shame about years from now when we’re explaining why the culinary choices of yesteryear mean our children…
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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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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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I remember it well. The little green booklet that I’d carry into the local branch of the savings bank, with my grandparents’ Christmas money or some such, all ready to save up for some far flung future when I’d be able to buy Something Important. The wee booklet was received by the teller like a benediction, and after passing it through a machine that typed on it (TYPED!) it was returned to me fresh, newly updated, bearing the magic words…
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Here at Credit Simple, we encourage you to check your credit score and keep tabs on your credit history. It doesn’t happen often, but if there’s a mistake on your file, you need to know about it and get it fixed. We’re happy to report that since we launched in September last year, almost 3,000 Kiwis have queried errors on their credit file. New Zealanders are making the most of free and instant access to their credit scores and credit files,…
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