🕰 Some history is better than none

If you’ve no past as a borrower, then it’s tough for a lender to predict your future.

Having a credit card with a healthy history is a big tick for your credit score because it suggests you’ll be trustworthy next time you borrow.

Next up, request your credit file and examine it carefully. Credit reporters and credit bureaus are only human, and they make mistakes, too. If you spot any errors, get them fixed asap.

👇🏽 How to bring your credit score down, down, down

Just as making timely repayments will boost your score, late repayments will send it in the opposite direction—especially when lateness becomes a bad habit.

Another thing that can harm your credit score is applying for credit from multiple sources in a short period of time, especially short term credit. This tends to create the impression you’re desperate.

Also, avoid drastic events, such as bankruptcy, defaults and legal actions. Depending on how many there are, how long ago they occurred, and how much money is involved, these black marks on your credit file can give your credit score a nasty hit.

⏰ Time for a change?

Now that you have the lowdown on how to sort your credit score, what are you waiting for? Take your first step today and move a little bit closer to achieving your financial dreams.

Credit scores are provided by Price Enquiry Pty Limited ACN.