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SACC vs MACC

Loan Type – SACC vs MACC

There are many different types of consumer loans such are secured, unsecured, lines of credit, home loans, etc. However, the majority of consumers opt for one of two options; known as short-term or personal loans. These are SACC’s (Small Amount Credit Contract) and MACC’s (Medium Amount Credit Contract). What is a SACC loan? A SACC

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SACC vs MACC

Loan Type – SACC vs MACC

There are many different types of consumer loans such are secured, unsecured, lines of credit, home loans, etc. However, the majority of consumers opt for one of two options; known as short-term or personal loans. These are SACC’s (Small Amount Credit Contract) and MACC’s (Medium Amount Credit Contract). What is a SACC loan? A SACC

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Credit Card and Travelling

Be smart with your credit card whilst travelling

A long holiday abroad is always an exciting prospect and can keep us going through the long working weeks. Planning a trip in advance is a great way to reduce costs and enjoy the holiday even more once you’re there. A key part of your planning will be deciding how to pay for the trip

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Hard inquiry on credit report

The differences between hard and soft inquiries

When a prospective lender makes a credit inquiry to a credit bureau, there are two different options of data available for them to pull on your credit report: soft inquiries and hard inquiries. The main three bureaus in Australia being; Veda, Dunn & Bradstreet and Experian. Whilst both types of credit inquiries require a third

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Staying healthy on a budget

How to stay healthy on a budget

According to the Parliamentary Budget Office, the number of students being issued loans to put themselves through university has grown by 11.2% annually over the past five years. Looking back since 2010, the numbers have grown from 308,000 to 522,000 in 2015. That’s a growth rate of 59%, which means that many millennials will be

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Credit Card Debt Consolidation

Credit accounts – how many should you have?

It’s often a question that comes up, and not many of us know the answer to. Credit accounts build the framework for any credit score. With little or no credit activity, you will struggle to obtain a credit score depending on the scoring model. Whether you have one account or ten, you may have wondered

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Building a credit profile

Advice on how to build a credit profile

You may have been told from a young age by an older family member that borrowing money means you’ll get into debt and owe a bank interest, which is something to be very wary of. In this day of age, having a credit history is really quite essential. Should you wish to buy a property

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Loans for home improvements

A guide to conquering overwhelming debt

With any issue we face in life, debt is one that can spiral out of control very quickly unless dealt with head-on. When in debt, people tend to feel isolated and some of us struggle to come up with a solution, or where to turn for advice. Even when you feel like you’re suffocating from what

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Financing Home Improvements

How to finance home improvements

Home improvement projects can be very exciting. From improving the garden to redoing the kitchen, they present the opportunity to reinvent your living space by putting a personal touch on your home. Funding such a project is less exciting, however. Renovation can be expensive, and many projects do not get off the ground due to

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Credit Card Debt Consolidation

Credit Card Debt Consolidation

The total amount of debt on credit cards in Australia has risen to north of 40 billion. This works out to be roughly $4,300 per cardholder and, at a 15-20% interest rate, means the average card user is paying around $700 in interest per year. People with a high amount of credit card debt often

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Car Loans Explained

Car loans explained

Let’s be honest, purchasing a car is a pretty big deal. Most of us don’t have the readily available cash for such an acquisition, and the likely scenario is that we will have to borrow some of the money to pay for it. The money required can be substantial depending on the car you choose,

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Interest rates explained

Interest rates explained

Australian Lenders are obligated to undergo affordability assessments on all applicants before offering a loan. If you are planning on applying for a loan, we advise you first assess your own ‘affordability’ to ensure you are confident you will be able to make the repayments in the time period agreed. Compare your current financial income

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Peer to Peer lending

Peer to Peer lending explained

The concept of peer to peer lending originated in the U.S. It then made it’s way over to the UK and then eventually Australasia. The process involves borrowing money outside of the conventional methods of using a bank, building society, or credit union. This form of lending is most commonly used by individuals or small-medium

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Car Insurance Online Guide

A friendly guide to car insurance

Looking for a car insurance policy is less appealing than shopping for a car. We think most people will agree, there are so many different options available, and not one clearly defined policy that’s the obvious choice. Be wary of the cheapest options in the market, because these policies might not be right for your

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The concept of credit cards and loans

Comparing credit cards and loans

When we find ourselves in a spot financial difficulty, where do we go to find the best solution? This is a question many of us face at some stage in our lives, and whether it’s looking for a credit card or a loan, there are so many options to compare in the market. It’s very

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Personal Loan from blocks

How to qualify for an unsecured personal loan

You can find most personal lenders offer from $2,000, up to as much as $40,000. An unsecured personal can really help you cover your immediate expenses without breaking the bank. With a good credit score intact, you’ll be more likely to get a loan offer with a lower interest rate. You are somewhat restricted if

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Saving and creating a budget

Beginners guide to loans

A loan is a sum of money that is expected to be paid back with interest.  Traditionally, loan applications were made in person at storefronts. The advancement of technology has enabled credit providers to accept loan applications online and make approval decisions within a matter of minutes. There are a variety of loan types on

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Credit Score on a laptop

Spotted an error with your credit report?

Have you ever received your credit report and thought something doesn’t quite stack up? Do you have a marked flag which you fundamentally disagree with? Whilst credit report errors are infrequent, it’s important that you have the right to dispute any inaccurate information. Here are some pointers to help you with any dispute that may

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Creating a budget and saving

Budgeting money in 10 easy steps

Money comes and goes as they say. It’s far more rewarding to watch the cents stack up in your bank account as opposed to seeing them depleted each month. Let’s face it, living from pay slip to pay slip every fortnight isn’t such a great feeling. As we live in a society of ‘buy now

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Mobile banking and how to stay safe

Mobile banking and staying safe

Smartphone technology and application innovations are changing the way consumers interact with products. Laptops and computers are no longer the main devices we use to browse. Research suggests that 75% of us will choose to only use smartphones to access the internet by 2025. Our decision to choose (and stay loyal) to certain services is

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ID Theft and Online Protection

Identity Theft – What to look out for?

Roughly 5% of Australians have been a victim of cybercrime. That means more than 772,000 people have experienced identity theft in the past 12 months alone. A study conducted by credit bureau Veda in 2015, shows that almost 1 in 5 Australians (17% of the population) have had their personal information stolen at some stage.

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Using Credit Card Online

Credit cards and the powerful money-saving tools they harness

Credit cards can be a very useful tool if used correctly and responsibly. They can save you hundreds and thousands of dollars in interest on your borrowing, make you money when in use, protect your belongings when travelling, and improve your credit rating. Prospective lenders will also be more liable to lend you money at

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Checking credit score on tablet

Why having a good credit score is important

If you’ve been paying all of your bills in a timely manner and made the necessary steps to ensure your credit score is in good shape by paying down your credit cards balances, this helps creditors view you as more credit-worthy, which is a good thing. As a result, lenders are more likely to lend

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Checking credit score on phone

Factors that may affect your credit rating

A credit score becomes a very important factor when seeking credit. Although Australians are becoming more aware of their credit profile, a credit rating or credit scale is still not common knowledge throughout the majority of the country. Banks use a credit bureau such as Veda to assess whether you are viable for a particular line of

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Personal Loan from blocks

Glossary of financial terms in Australia

A Amortisation: The process of gradually decreasing the amount of debt by regularly meeting repayments over time. This process can also be referred to as the depreciation of debt. Annual Fee: A fee charged by your creditor for use of the account or service. An annual fee is associated most commonly with the use of

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Couple dealing with debt

10 reasons why you may be in debt

Debt can spiral out of control far too easily. Many of us find ourselves in some form of debt at some stage of our lives, you just need to be cautious and reassess your daily habits and psychology. 10 beliefs that keep you in a debt cycle 1. I deserve this We all like to

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Stolen Card Details

What happens to my stolen card details?

Whether it is setting up a password that even you can’t remember or covering a pin number at the local ATM, we all take steps to protect our finances and credit in the real world. Yet, despite our best efforts, we can still be susceptible to credit card fraud. Over one million Australians have been

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Overdue bills

5 helpful tips if you miss a credit card payment

It’s very easy to miss a payment for a number of reasons. Whether it’s an honest mistake like cancelling the direct debit by accident, or not having the funds in your account on the day of collection, it’s never a good feeling regardless of the cause. Left unresolved, it could be a costly mistake. You

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Cost of travelling to work

The cheapest way to get to work

Travelling to work is something most of us must do with the time and ease of our commute playing a role in major life decisions. For example, we may opt to turn down an exciting job offer if the new office is too far away. Commuting also costs money whatever mode of transport we take,

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Credit Report Monitor

Why you should monitor your credit report

You may not be aware of it but your credit score plays a vital role in your life. It influences most of your financial options from being approved for credit cards and the amount of interest you pay on a loan, to being accepted by a landlord to rent your dream apartment. Why having a good

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Legal information

Marketplace Finance Pty Ltd with ACN 608 607 227 and ACL 487316 is trading as Friendly Finance. Friendly Finance does not make finance or credit decisions and is not a provider. Friendly Finance helps customers find financial partners that meet their requirements.Financial partners may wish to obtain credit reports as part of the decision process. The line of credit available will vary depending on the financial provider. In order to help the government fight identity theft, the funding of terrorism and money laundering activities, providers may verify and record customer information. This website does not directly endorse a particular product and service.Any information on this website should be taken as opinion only.