Mortgages | Bonds | Home Loans | Refinancing | Debt Consolidation | New Business Loans
Home Debt Consolidation Credit Card Debt Loan Products Mortgage Bonds About us Contact us

  Debt Articles
Debt Consolidation Loans Good Debt vs Bad Debt
Debt Consolidation Loans Are your debts keeping  you awake at night?
  Debt Consolidation Articles
Debt Consolidation  Loans Types of Debt Consolidation Loans
mortgage broker Debt Consolidation Basics
Debt Consolidation Loans Is Debt Consolidation for You?
  Debt Free Living
mortgage broker Don't Get Into Debt Dilemma
mortgage broker Do You Really Need a Personal Debt Consolidation Loan?
Debt Consolidation, credit score Lowering Your Debt for Life
Debt Consolidation, credit score Debt-Free Living
  Debt Consolidation Advantages
Debt Consolidation, credit score Use a debt consolidation  loan to reduce debt
Debt Consolidation Advantages Debt Consolidation
  Debt Tips
Debt Consolidation, credit score How Can I Reduce My Debt?
mortgage broker Which Bills To Pay First?
Debt Consolidation Loans How to Reduce Debt
Debt Consolidation, credit score How to improve your  credit score
mortgage broker Characteristics For Consolidators
mortgage broker Budgeting & Debt
Debt Consolidation, credit score Budgeting
  Debt Consolidation Disadvantages
mortgage broker Are There Risks To Debt Consolidation?
mortgage broker Why a Personal Loan Won't Work For Debt Consolidation
Debt Consolidation Pitfalls< Debt Consolidation Pitfalls
  Mortgage Loan Debt
Debt Consolidation Pitfalls< Mortgages for debt consolidation
mortgage broker Reverse Mortgages for debt consolidation
  Debt Consolidation Calculator
Debt Consolidation Calculator Reduce My Debt Calculator
  Online Application
debt consolidation 20 Second Application
debt consolidation No Obligation Quote
mortgage broker Free Course by Email
mortgage broker Prequalify Myself
mortgage broker Free Reports by Email
mortgage broker FAQ
debt How To Improve Your Credit Score
If you apply for mortgage finance, you do not know if you will get approved for the loan and what the percentage rate will be. Both of these depend on your credit score.

The better you credit score is, the higher your chances of an approval at a low rate.

Credit scores are based on the information in an individual's credit report. Lenders use credit scores to evaluate the potential risk posed by lending money to consumers

A credit score is a number that reflects your credit risk level. The higher this number, the better, since a high number is an indication of lower risk.

Are all credit scores the same?

There is no single credit score. There are many different scores used in the financial industry for building a credit profile. Lenders will take different factors into account when building a credit score, depending on their own credit granting policies.

Often lenders will make use of data from credit reporting agencies (bureaus) or their own internal data to come up with their unique credit score model.

The two major credit reporting agencies in SA are Experian and TransUnion ITC and they have different information on their credit reports about you.

That means that you will have two credit reports and two credit scores.

Improve your credit score today

A lot of credit seekers do not know how a credit score is calculated. Here is a few tips that you can use to improve your credit score:

Have any incorrect information on your credit cards removed: If something is wrong you should get it sorted out because it can take a few months to get a correction.

Debt ratio: Lenders prefer a large gap between the debt you owe and your credit limit. This is known as your debt ratio and can make up to 30% of your credit file.

For example, if you have credit limit of R10,000 on your credit card and you owe R9,900, this represents a very large debt ratio and could have a negative affect on your credit score.

By paying off credit card balances that are close to their limit you can improve your rating.

Number and severity of late payments: Payment history is considered by lenders as the most important variable. Your payment history makes up to 35% of your score.

Even though you can pay off your debt, it will reflect negatively on your credit rating if you do not always pay your debt on time. If you want a high score then you should make your payments on time.

Types of debt used (installment, revolving or credit card debt): The type of debt you have, will be responsible for 10% of your total credit score. If your revolving credit makes up the most of your credit report it will not look good on your report.

The reason for this is that creditors know that the monthly minimums will vary every month depending on how much you choose to spend.

Make arrangements: If you are unable to make a payment due to unforeseen circumstances, talk to your creditor and make arrangements for paying back what you owe.

Limit credit enquiries: Avoid any unnecessary inquiries into your credit, since this is responsible for 10% of your credit report. Do not go shopping for a car and have each and every salesperson in town running a credit check report on you.

Be responsible when applying for credit since this stays on your file for two years. If you seeking credit then you should limit credit checks as much as possible

Length of credit history: This will make up 15% of your credit score. If you have a history of credit, you make it easier for lenders to establish how reliable your score is.

To apply for a debt consolidation loan you will have to fill out a short application form. You will then receive a FREE quote from well established, nationally recognized lenders. You do not need to decide now whether the debt consolidation loan is for you.

Just apply and compare the repayments to your current situation. There is no obligation on your part. If you decide that it is not for you, you simply do not have to accept the offer. You have nothing to lose and everything to gain.

20 Second Application
In the global finance market, dinar investment is a lucrative option for making quick money. We offer several opportunities to buyers and investors. Feel free to approach our dealers at    
home | blog | about us | testimonials | FAQs | contact us | our loan products | home loans | SA Home Loans | bond calculator
bond refinancing | bond application | debt consolidation | home improvement loan | 2nd bonds | business loans

RSS Feed | XML Sitemap | ROR Sitemap
Terms and Conditions, Privacy Policy, Copyright 2007 Global Property Finance
Cape Town, South Africa.