Have you ever wondered to yourself what actually makes up your credit score? Or how is my credit score calculated? Well wonder no more, as we serve to you in a tasty burger style how your credit score is formulated. Hopefully it's simple enough to digest!
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What Comprehensive Credit Reporting means for you and your credit score
A new fairer system of credit reporting is being rolled out across Australia called Comprehensive Credit Reporting. In the latest Federal Budget you may have heard the Treasurer Scott Morrison mention the changes to credit reporting, but if you’re like us you probably didn’t take any notice. So what is Comprehensive Credit Reporting and why should you care? In March 2014, changes were put in place to start rolling-out a fairer credit reporting system known as Comprehensive Credit Reporting. Credit reports and credit scores before these changes had limited data and only used ‘negative data’ to assess your credit-worthiness – how well you manage your credit commitments. This data would typically include information such as how many credit enquiries you have made or how [...]
In certain circles, no other hot hatch will quite cut the mustard except for a Honda Civic Type R since the first version appeared in 1997. Enthusiasts would have their eye set on this car alone as it offered a blend of exceptional handling, analogue sensations, and a screamer of an engine. Now, with the FK8 generation car, the Type R has changed. Grown up in key aspects, just as the company had first attempted with its FK2 predecessor. It retains much of the boy racer appeal, but considers the needs of a more aged individual, being offered (only) in more practical 5-door guise instead and adopting a turbocharged engine. Still, it’s definitely not seemed to have softened its views on high performance front-driven hoonery. Honda’s team obviously put a lot of effort into the new Type R, merging new ideas with the old, in part to garner the favour of a broader [...]