Can a Loan Application Affect My Credit Score?
Many Aussies are stressed by the thought of having a low credit score or having to use financial services that affect their score. But can a loan really affect one’s credit score? Let’s find out! What Is a Credit Score? It’s a number calculated using the information from your credit report. In other words, if you pay your debts and bills on time, you will have a good high score. If you don’t, you will have a low score reflecting that. The low score can make it harder for someone to get a loan or to use certain financial services. […]
How Does a Personal Loan Affect Your Credit Score?
There are unexpected scenarios in life when you are in need of immediate financial help. Whether it’s the case of an unprecedented car repair, tuition bill or any other emergency, getting a personal loan is one accessible way of having extra cash for a particular purpose. Nonetheless, before you consider choosing personal loans, you should acknowledge their impact on your credit score. When you use it accordingly, a personal loan can have a beneficial influence on your credit rating, as long as you handle the situation right. What Affects Your Credit Score? First and foremost, your credit score is calculated […]