Credit Simple NZ
If you’ve got a credit card but you’re sick of being stung with interest costs, you might be wondering how you can avoid paying interest but still use the card for the maximum benefits. We’ve broken it down. Credit card interest – the good, the bad and the ugly Each month, your card will tell you the total amount you owe on your account, and it will also tell you the ‘Minimum Payment Due’. You might choose to pay just…
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Have you spotted a default on your credit rating? If so, your credit score could have taken a big hit. Let’s take a look at what credit defaults are, how long they stay on your report and the measures you can take to clear defaults from your credit history. You can only get a default actively removed from your history when a mistake has been made. Understanding defaults on your credit rating A default on credit will occur if you…
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How credit card balance transfers work If you find yourself in credit card debt, paying a huge amount of interest every month and never making any reduction in the balance because it’s all going in interest, a balance transfer could be your way out. In a way you would be paying off your credit cards with another credit card, but the crucial difference is that the new credit card may come with an interest rate holiday. This means you can…
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Can this card help me build my credit? Your first credit card is your chance to start proving you’re a reliable person to lend to. It’s your chance to show that you can pay what you owe, when you owe it. The more you can be trusted to do it, the better your credit rating will be. Build a good reputation with the card issuer, and that sets you up for them to consider you for some of their other…
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Rewards, travel and cash-back cards There’s no such thing as a free lunch. Basically, no-one’s going to be putting rewards and inducements your way unless you’re spending enough to make it worth their while to look after you. If you’re not spending at least $1,000 on your card each month, you’re probably not going to be earning enough to make it worth your while, especially once you factor in the annual fee, which can be quite a lot for a…
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Saving money and cutting corners is a thoroughly enjoyable way to pass the time, not only for the cash you get to keep but for the smug feeling of satisfaction at having outfoxed the system. Unfortunately sometimes corner cutting backfires. Our Scrooge-like urge to save a buck by doing something ourselves, instead of paying an expert to do it properly, actually costs us more – not necessarily just in money, but in time and effort. This makes me feel most…
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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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Zero waste saves money. Since I vowed to reduce my waste last year I’ve saved a bucket load of cash. But let’s get this clear. ‘Zero waste’ is a philosophy/lifestyle goal of reducing the amount of rubbish you personally send to landfill. No-one will be 100 per cent perfect unless they’re a Buddhist monk or a hermit. The bonus is if you cut down on what you buy for environmental reasons you spend less overall. Yay! On a personal level…
read moreYou, your wallet, and your spare change walk into a bank. What, were you expecting a punchline? Well, these isn’t one! Your financial future is no joke. That said, the wealth of savings options available to Kiwis these days will have you laughing all the way to the bank. Or credit union. Or investment company. Or or or… do you see the problem yet? Saving money is always a smart idea. But we reckon being spoiled for choice still presents…
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Are you throwing money away every week on your shopping? Maybe you’re committing the Seven Supermarket Shopping Sins? Think online shopping for clothes you absolutely don’t need, or popping into a nice store because you like the look of something in the window and then walking out having spent $300. It’s okay – we’ve all been there. But putting thought into saving money on your grocery shopping can help you to keep your bank account healthy, which means you’ll have…
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