Fix your bad credit file now
A bad credit file can cost a lot in the long term. If you haven’t paid bills, or if you've had your power cut off, your car repossessed or skipped payments, exceeded card limits or defaulted, you could be refused a loan or be charged a higher interest rate.
Consumers can get access to their credit file through Veda Advantage at www.mycreditfile.com.au so they can check their file and ensure its’ accuracy.
To change a bad credit record into a good one, use credit as much as you can, meeting all repayments on time, so the good record outweighs the bad. Put all your spending on a credit card and pay it off every month.
Source: The Daily Telegraph