Credit Simple NZ
A personal loan is a monetary loan you can get from a credit provider such as a bank, credit union or online lender – usually for a specific life purpose like renovating your home, paying for a holiday or consolidating several smaller loans. Lenders approve personal loans by evaluating your creditworthiness. When you enter into a contract for a personal loan, you typically receive money in a lump sum and agree to repay the lender back the money in regular…
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Valentine’s day is just around the corner. And you know what that means: candle-light dinners, romantic water-side strolls, mouth-watering chocolates, exquisitely arranged bouquets and… your beloved’s outstanding debt? At first you’ll be enamoured by that special someone’s talents and strengths but there will come a day when you have to face their flaws. And no, we’re not talking about letting one rip in the middle of a Netflix special, because we all do that. What we’re talking about here is…
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Occasionally life will throw you a curveball that directly or indirectly impacts your finances: you’re made redundant, your furnace dies or you’re expecting a child and you realise you’ll need to upgrade homes in the not-too-distant future. The last thing you want is to dig yourself into a deeper hole because you weren’t able to manage the financial side of things. Here are some ways to avoid that, so that you can bounce back sooner rather than later. 1. Put…
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Comparing credit cards the right way can be rewarding, because there’s a credit card that can cater to almost every lifestyle and financial need. When you compare, you’ll be looking at everything from interest rates, to reward programs to promotional offers to fees. Compare credit cards by type of card Since you probably already know that closing your accounts too often can hurt your credit score, we hope you’ll keep your card for some time. That’s why it’s important to…
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When you consolidate your debt, you are essentially taking out one large loan and using that money to pay off two or more smaller debts. The two major ways you can do this is by applying for a balance transfer (BT) credit card or taking out a debt consolidation loan. This guide explores why you’d want to consolidate debt in the first place and then looks at your two options to help you determine which one is right for you.…
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Don’t believe you have to have a credit card. Paying interest sucks. It sucks the lifeblood out of your finances. That’s because unless you clear your entire bill within the interest free days, you pay interest. That interest means you’re paying as much as 22.95% more than your mates at the mainstream banks for the same things, which has a detrimental effect on your finances over time. Other (cheaper) ways to pay Thankfully there are way more credit-free ways to…
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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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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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