You’ve decided that you want a new credit card — a balance transfer card to be exact. You choose the combination of a balance transfer card and rewards card in the Velocity NAB credit card. But wait! Don’t apply just yet. Did you remember to check your credit file first? If not, you may be in for an unpleasant surprise. read more..

Your credit file is meant to be an accurate portrayal of your credit history — something credit card companies use to determine your creditworthiness. Having incomplete, out-of-date, or otherwise inaccurate information in your credit file can hurt you in the future. You may not get approved for a new line of credit. If you do get approved, you may receive a lower than expected credit limit or less than optimal interest rates. read more..

Your credit file is your passport to a healthy financial future. It determines whether or not you will be approved for credit cards, car loans, a mortgage, or other financing. You can’t afford to find out the hard way (being denied credit) that errors exist on your report.

The most important thing you can do to ensure an error-free credit file is to obtain a free copy of your credit report from both Veda Advantage and Dun & Bradstreet regularly. You can’t fix errors if you don’t access those credit files to find them. read more..

It is important for every citizen to understand the information in their credit file, and how that credit history may affect anything from credit card application approvals to mortgages. It isn’t enough to obtain a copy of your credit report. You have to be able to decipher that information in order to ensure accuracy.

Here are some of the sections of your credit file that should be thoroughly reviewed, and the information they may contain: read more..

When was the last time you checked your credit file (or credit report)? A year ago? Several years ago? Never? Whether you’ve looked at your credit file or not, if you’ve ever applied for a credit card you can be sure someone else has.

Banks regularly review copies of credit files for credit card applicants. Your credit file tells lenders whether or not you can be trusted to pay back your debt. In other words, it represents your credit-worthiness. A negative credit file can have financial consequences, from not being approved for a credit card to not receiving the best interest rates offered. read more..