Lenders responded to the recent spike in COVID-19 cases by offering some customers a further four-month payment pause. But does this impact your credit score long term?
Worried about getting behind on your payments and seeing a black mark on your credit score? Contact the bank but don't stress, says Mike Laing from the Australian Retail Credit Association.
Having your identity stolen is more than just sorting out suspicious credit card charges. It could harm your chances of getting a car loan or buying a home.
Stories of stolen information and maxed-out credit cards are increasingly common in Australia, yet rarely do we think "this could happen to me". Until it does.
Australia's new credit reporting system means more data is available to lenders, but only under certain conditions, thanks to Australia's strict privacy laws. It's a far cry from the Wild West scenario in place in countries where data is up for sale to the highest bidder.
"Open banking" and "comprehensive credit reporting" are two buzzwords doing the rounds but what is the difference between the two and how will they affect the average consumer?
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