Once you understand just just exactly what impacts your credit rating provides you with the capacity to enhance
Back many years ago, just borrowing that is negative вЂ“ think late re payments and defaults вЂ“ could affect your credit rating, also referred to as your credit history.
Nevertheless, just lately, Australia joined up with the century that is 21st applied a scheme called Comprehensive Credit Reporting (CCR). This means borrowing that is positive вЂ“ like making your instalments on time вЂ“ might help your rating tick right straight back upward.
The good and factors that are negative affect your credit rating
You a good idea of which behaviours to avoid and which behaviours to favour before we jump into the nitty gritty, this infographic should give:
Negative behaviours that affect your rating
Despite having the CCR, negative borrowing behaviours nevertheless have an effect on whether or not lenders provide cash. Negative for example:
- Bankruptcies. These remain on your credit history for 2 years following the bankruptcy ends or 5 years through the date you became bankrupt.