What affects your credit score?
The factors that determine your credit rating have changed dramatically in recent years, so let’s begin with a brief history lesson. Back in the old days (okay, before April 2012), your rating was only based on negative credit events, such as defaults. This meant lenders had limited data on which to judge your creditworthiness. Six years ago, a new comprehensive credit reporting (CCR) system was introduced in New Zealand. The upshot is that organisations are now allowed to share far…read more