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Know the score: what the new credit reporting system means ...

Know the score: what the new credit reporting system means for you

By Nina Hendy

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Like many Australians, Bernard Stahr didn't know that two years of credit repayment history is about to be introduced to his credit report.

The 49-year-old public servant, from Kensington in Melbourne, wants to buy an investment property in the near future but is yet to apply for...

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Credit reporting agency Veda changes its scoring model

Australia's largest credit reporting bureau Veda has quietly changed its scoring model, leaving many customers shocked and confused by their drastically lower credit scores.

David, an IT worker in Melbourne, is in an enviable financial position: He owns his house outright, and has $100,000 in cash savings, $200,000 in superannuation, and no outstanding debts.

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His credit score - a...

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Your unused, emergency card limit now risks your credit rating

Your unused, emergency card limit now risks your credit rating

Your credit score will be recalculated from July 1, and a high card limit will cost you.

By Nicole Pedersen-McKinnon

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A catch in the new credit reporting system means having an unused credit card limit could now damage your credit score.

That could lead to rejection for loan approval or even a...

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Credit reporting giant Veda under fire for the way it ...

Credit reporting giant Veda under fire for the way it obtains customer consent

By Esther Han

Savvy Consumer - Interact with us

For a long time, Simon* has been extremely careful with his personal information, shredding bills, not signing up to random offers, and sticking with one bank.

So he was surprised when a rival bank, ANZ, sent a personalised letter to his home, inviting him to become a...

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Why debt consolidation loans are often financially ...

Why debt consolidation loans are often financially irresponsible

By Noel Whittaker

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We are well into the new year, and the bills may be starting to bite. To relieve the pain some institutions are encouraging borrowers to bundle all their loans together into a "consolidation loan", which was once described by a cynic as "putting all your hard-to-pay loans into...

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Top reasons your free credit card travel insurance could ...

They say nothing in this life is free ... and the same may be true of the complimentary travel insurance that comes with premium credit cards (for which, of course, you pay a hefty annual fee).

I have been inundated with emails from readers telling me about bad experiences with such insurance, after last week sharing my own . Credit card versions of policies can be more restrictive than the...

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long-term credit rating of Australian banks - SMH.com.au

Credit rating agency Moody's has downgraded a dozen Australian banks, including the big four, citing increased risks in the nation's increasingly indebted households.

Moody's stripped the big four banks - the Australia and New Zealand Banking Group (ANZ), Commonwealth Bank of Australia (CBA), National Australia Bank (NAB), and Westpac Banking Corporation (Westpac) - of their Aa2 long-term rating...

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What is a AAA credit rating and why does Australia need one?

Citing the unresolved election result and rising levels of external and household debt, Standard & Poor's cut the outlook on Australia's coveted AAA credit rating on Thursday , putting the government on notice.

But what exactly is this rating, where does it come from and does it matter? Here are the AAA questions you always wanted answered.

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What is a AAA ("Triple-A") rating?

This is a...

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Related topics : bank credit ratings s&p / credit rating australian government / bank credit ratings australia / s&p credit rating / credit rating australian banks

Moody's takes the knife to China's Dalian Wanda credit rating

Ratings agency Moody's Investor Services has taken the knife to the massive China developer Dalian Wanda's credit rating, cutting it to Ba1 amid concerns of the company's weakened liquidity position.

The agency said this was "due to inadequate offshore cash to meet the potential repayment of its offshore bank loans of around $1.7 billion - arising from potential non-compliance of certain...

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Federal election 2016: Standard and Poor's puts Australia ...

Ratings agency Standard & Poor's has cut the outlook on Australia's coveted AAA credit rating after an unresolved federal election result and high levels of external and household debt.

The agency says there is a one in three chance the rating will be downgraded within two years.

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Treasurer Scott Morrison seized on the move, saying it reaffirmed the government's fiscal direction and the...

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Related topics : s&p credit rating / improve your credit rating australia / get credit rating australia / credit rating australia / three credit rating agencies