Be credit savvy this festive season
With TransUnion Nipashe* you can keep check of your credit status and monitor your debt obligations responsibly.
Everyone knows how stressful the holidays can be - itâ€™s a lot of work to balance all the prep work that goes into family and social gatherings. Whether youâ€™re traveling or hosting at home, the last thing you want to worry about is how those busy times will affect your credit health. Here are some credit tips to help you stay worry-free throughout the season.
Can I really afford to take on more debt?
With the festive season fast approaching the impulsive move to apply for a credit card to supplement your income for all those big festive family gatherings might seem like a good idea now, but come the New Year dealing with a rack of debt may not be worth it.
Donâ€™t be a victim of identity theft â€“ take action to protect yourself now
Identity theft is one of the fastest growing crimes in the world: experts believe that someone's identity is stolen somewhere in the world every two seconds. Yet most people believe it cannot happen to them until it is too late and their credit worthiness has been destroyed....Read More
Coping financially this festive season
The best is to save for festive season spending long before the decorations go upâ€¦.
For many, this advice may come too late. For them, festive season spending may mean maxing out current credit cards, opening new lines of credit or taking on extra debt. Excessive enquiries for new lines of credit, higher balances compared to credit limits and large amounts of debt can all be harmful to a consumer's credit health....
Whatâ€™s in your credit report?
When you apply for credit from a bank, a retail store, or any other credit provider, the provider will ask a credit bureau (such as TransUnion) for your credit report. In order to determine your creditworthiness, a lender will filter the information in your credit report through their own criteria, and then decide whether or not to extend credit to you....Read More
Do you think you have been blacklisted or have bad credit?
The term "listing" or "blacklist" are terms widely used among consumers. "Blacklist" is a misleading term, a category that dates back to when credit bureaus only kept negative information. Now credit bureaus hold both positive and negative data, the combination of which has proved immensely beneficial in predicting the future behaviour of consumers....Read More
Ever wonder how a lender decides whether to grant you credit?
Every creditor has its own definition of what is considered "good" vs. "bad" credit. With more lenders today keeping credit standards tight, you need to do everything possible to make sure your credit stays in great shape. Remember, your credit status is not permanent. If yours is in bad shape, a little work will go a long way to improving it for the long term. If you have had poor credit performance in the past, credit reporting doesn't let that haunt you forever....Read More