Tip 1: Pay your bills. And credit cards.

  • Make sure you always pay back your loans and bills on time. Late repayments are the number one factor in low credit scores.
  • Paying off your credit cards means you’ll avoid being hit with heavy interest charges.

Tip 2: If you're going for something big, get a full credit report.

  • Yonda can help you find your score.
  • But for a full credit report you can take to the bank (in case you want a business or start-up loan), try a credit reporter.
  • There are three credit reporters in New Zealand; Equifax, Centrix and illion.
  • Pick one of the three for a complete financial report. Or, you can download Yonda from the app store.
  • Make sure the credit reporter you choose has got your correct information. If you see any errors in your report, call them up to get your information fixed.


Tip 3: Don't share your bills.

  • Make sure your name’s not on any bills shared with others, no matter how much you trust them. 
  • Because if your mates fail to pay their bills back on time, your credit score will suffer too.

Tip 4: Don't apply too hard for credit.

  • If lenders see that many people have been checking your credit score, they might think you’ve been hunting for more loans than you can afford.
  • Don’t apply for too many credit cards either — it makes you look desperate.
  • Quotation enquiries are when credit providers look at your credit history without making a difference to your credit score.
  • Complete credit applications do make a difference, but just in the wrong way.
  • Too many complete applications will make it look like you're desperate for cash and drop your score. 
  • So check what kind of enquiry you're getting when applying for either a loan or a financial checkup from a credit reporter. 
  • And, if you're running a complete application before taking out a loan, make sure you need it first! 
  • You can always use Yonda to check your credit score for free without it hurting your score in any way. 


Tip 5: Don't default, don't abandon. 

  • If you’ve got a credit or store card you’re not using, cancel them.
  • Don't allow defaults or missing payments to stay on record.
  • Make a plan to pay them back instead of leaving them open.
  • Also — don't move your debts around between credit cards or shift credit over if applying for hardship. It's an actual red flag for lenders.


Tip 6: Build a credit history.

  • No credit score can be just as bad as having a poor credit score. 
  • So having some financial history for your credit lender to track is a wise move.
  • Just make sure you build a credit history they want to see by making your repayments on time and in full.

Hold on, dude!

Are you feeling overwhelmed? Yeah, we know that it’s all a lot to take in! But don’t worry.

Here at Yonda, we’re all about helping you get set up to take better control of your money.

That’s why we’ve launched a fantastic new app to check your credit score for free.

 Sound good? Head to our homepage to download the app and find out more.




Info and tools on the Yonda website are used as a guide only and do not constitute financial advice. Use Yonda as a starting point and then seek professional advice.


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