29 August 2024
Genistar
Financial Freedom for All
Are credit woes weighing you down? Does it feel like a super-villain is about to swoop in and ruin your financial future?
Never fear - we've got the tips you need to level up that credit score and take control of your destiny!
A lot of us don't really think about our credit scores until we're in a jam. But let me tell you, those numbers are the key to unlocking a world of financial heroics!
Your credit score is like a crystal ball for lenders - it shows them just how creditworthy you are likely to be. And if your score is strong, you'll be able to access better loan terms, higher limits, and lower interest rates. Heck, it could even score you discounts on insurance and sweeter rental deals!
But if your score is in the dumps, it's time to take action. Because, as this eye-opening scenario will show, your credit can have a huge impact on your day-to-day life.
Ready to see the power of a high-flying credit score in action? The story is about to begin…
Sam is Flying High!
Meet Sam. She’s been makin' some major changes lately and things are goin’ great! She's packed up and moved to a new town, and she’s moved into a brand new flat with her special someone! Sure, she's missed a rent payment or two in the past, but now, she’s flyin’ high! Things are great and about to get better… and worse…
Transportation Troubles!
Sam’s been offered her dream job, and, of course, she’s jumped at the chance! But hold on - there's a catch! This new job requires her to trek into the office a couple of times a month, and the poor gal doesn't even have a set of wheels to get her there! How's she gonna handle this tricky transportation trouble?
Our Girl Needs a Loan!
Sam has hit the car lots, but she just can't afford to buy a set of wheels outright. What's she to do? No problem - she'll just take out a loan! She applies – but that money lender fella says he's gotta run a credit check on our gal before he can hand over the dosh! Has our girl Sammy hit a speed bump on the road to gettin' her sweet new wheels?
A Cruel Credit Crisis!
After sweatin' it out for a whole two weeks, Sam finally gets the word - and it’s not good! Her loan has been DENIED! Turns out there were a few skeletons in her credit closet - missed rent payments from her old place, and her partner’s missed gym fees from their joint account. But get this - those debts had been paid off ages ago! But the credit cops are still givin' our gal a hard time about them!
WHAT TO DO?
Looks like our girl Sam's really in a pickle now! After getting that big fat loan rejection, she's gotta find some other way to get to that new job of hers. And now that she knows her credit score's lower than a snake's belly she wants to make improvements – she just doesn’t know where to start. Let’s see if we can help with some super tips…
SUPER TIPS TO BOOST YOUR CREDIT!
What’s a Credit Score?
What are those crazy credit scores are all about? When you apply for credit, those lenders get the full scoop on your financial history! They check with other lenders and service providers and peek into those public records! And they look at everything - current loans, old loans, overdrafts, missed payments and any CCJs or bankruptcies! Then, based on all that, they’ll give you a rating (a score) to show how reliable they think you would be as a borrower. That’s your credit score!
Pay on Time all the Time!
Paying on time brings up your credit score! When you borrow money, you're making a solemn promise to pay it back on time, no ifs, ands or buts! If you start missing those payments or paying late, that's gonna leave a big ol' black mark on your credit record. But on the flip side, making sure you pay everything back when you said you would is the best way to start boosting up a sagging credit score! So stay on top of those payments if you want to get back in the good graces of the credit cops!
Don’t Go Credit Crazy!
Too much credit is bad for your credit score! When it comes to credit, you gotta know your limits. If you start going overboard and applying for way more credit than you can handle, you're just asking for trouble! And those crafty credit cops are gonna take one look at all those accounts and start to wonder - can this person really pay all that back on time? And you can bet they're gonna ding your score if they think you're biting off more than you can chew.
There’s No Place Like Home!
Proof of address helps boost your credit score. When you're trying to get a loan, one of the simplest things you can do is prove where you live. That's right - lenders love to see that you've got a stable home address, especially if you've been living there for a while. It shows them you're a settled-down, responsible person, and that makes them a whole lot more likely to give you that loan you're after! There’s no place like home to help you boost your credit score!
Register to Vote!
Registering to Vote? Yep, that's right, getting your name on that electoral roll is a real easy way to boost your credit score. It’s a super-simple trick to help turn a credit crisis around. So make sure you’re signed up and ready to vote - it could be the key to propping up that sagging credit score!
Don’t Overspend!
When it comes to getting your credit score back on track, one of the most important things you can do is spend your money wisely. That's right, you gotta make sure you’re only spending what you can actually afford! Keep a tight grip on your spending and before you know it, your credit score's gonna be soaring higher than ever!
So, if your credit score is looking a little worse for wear, never fear – just follow the super-powered solutions above, and you’ll find all your credit related woes melting away in no time. So what are you waiting for? Get out there and start raising your credit score through the roof! With a little discipline and a whole lot of determination, your credit woes will be ancient history before you can say "Shazam!"
It’s a good idea to keep your peepers peeled on that credit score of yours – even if you’re not on the lookout for a loan. You can check out your credit score here or check with one of the main credit report providers.
Save the day with Genistar’s FREE Financial Plan! Reach out to your heroic Genistar representative or hit up our Super Support Centre today for more info!
__________
The information provided on this website is for educational or informational purposes only. Please refer to our legal disclaimer for further information.
Debt Consolidation Benefits
Find out if you're paying more than necessary in monthly repayments & interest charges.
6 Steps to Get You Mortgage Ready
Genistar’s mortgage partner helps you get ahead of the mortgage game.
Building Your Financial House
Like any proper structure, you must build your financial house on a good solid foundation.
Share article
