Information Hub
Useful information and news from the Friendly Finance team
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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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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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. Here are 10 beliefs that may be keeping you in that debt cycle. 1. I deserve this …
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 …
Credit cards and the myths they carry
Slowly but surely the South African consumer is becoming more aware that a healthy credit rating can be very useful when it comes to securing a line of credit. One of the rumours that instigated this snowball effect was that it used to be fairly expensive and confusing to know where to access your credit report. …
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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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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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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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. …
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 from IAB indicates that from the middle of 2016 we used our smartphones for over half of our daily internet usage, with time spent on desktop/laptops down to …