How to keep a good credit score and get a lower interest rate loan

It is close to Christmas time, and many people are thinking to spend that money to buy that special gift for that special someone, and sometime, people will venture into the option of accessing a small to medium loan to buy that special gift. However, it is essential to remember there are “GOOD” credits and “BAD” credit.

Good credit is the loan you take out can bring future intrinsic value or benefit to you and your family, for example, rental bond loan. When you see a house you will like to rent for you and your family; hence that house can be called HOME SWEET HOME. At that moment, you might be short of 4 weeks rental to be paid as Rental Bond. In this case, if you wait, and ask the agent to wait with you, the chances are that house might be gone, and at that moment, you then need to decide whether it is worthwhile to borrow the Rental Bond Loan to pay the agent the Rental Bond. At AHA MONEY, we can help you with the rental bond, as we believe it is something of benefit to you over the longer term. Hence if you do need the four weeks payment to pay for the rental bond, remember to visit our website at www.ahamoney.com.au and we will be able to help you out.

It is also important to remember that when you apply for a loan, do not jump the gun, and apply as many lenders as possible. In Australia, there are two credit reporting agencies, Equifax and Illion. The process of how the credit reporting agency works is when someone applies for a loan, the lender will generally do a credit check against the file using either Equifax or Illion. That checking will leave a historical trace in the either or both of Equifax and Illion. If a lender notices there are many credit enquiries in the credit report. The lender might be more inclined to decline the deal, even though the applicant might have an excellent income and expense level.

It is also to remember that once the loan has been extended to you, it is essential to maintain a good repayment record, and pay the loan on time if you feel you can not repay the loan at any time, please talk to the lender. At AHA MONEY, we understand that people have unexpected issues during their life. Hence we encourage our customers to speak to us as early as possible if they have some difficulty in repaying the loan. We will generally work with the client to solve the problem, either by rescheduling a repayment to a later date or work with you to see how the customer can repay the loan on time. It is vital if you can maintain a good credit history and minimize too much credit inquiries. You would be able to borrow future credit at a lower interest rate, and this will benefit you over the long term.

AHA Money can help you with getting a Rental Bond; taking a holiday or buying that special gift for that special someone. Please go to our website www.ahamoney.com.au and find out how AHA Money can help you with our fast and easy loan process and lower interest rate than the lower market.