Tag: Banqer

I am going to show you stuff about credit scores.

I did this with Josaiah, Angus, Elliot, and lachie.

 

1. Who can you use to find out what your credit score is? 

The bank, the government, credit card companies, loan companies, agencies.

Credit companies, loan companies, possibly in your statement or you can access it online from your account.

 

2. What is a credit score? 

A credit score is a number between 0 and 1000. It indicates how good you are at paying bills on time.

 

3. What is a credit file or report and what is in it?

A credit report is a summary of your credit history, including the types of credit accounts you’ve had, your payment history and certain other information such as your credit limits.

 

4. Does everybody in New Zealand have a credit score? 

Not everyone has a credit score. Most adults have a credit score because they have bills they pay.

If you have not started using credit yet, you won’t have a credit score.

 

5. Who can you use to find out what your credit score is? 

The bank, the government, credit card companies, loan companies, agencies.

Credit companies, loan companies, possibly in your statement or you can access it online from your account.

 

6. Why is it important to have a good credit score and credit file / report?

To be able to buy stuff like houses, land and vehicles.
It’s harder to be trusted by the bank, if you have a bad score.

If you have a good credit score you are more trusted by the bank.

 

7. Where can you see what your credit score is? 

On your Banqer dashboard or bank.

 

We have been doing banqer these past few weeks and today we did what the meaning is from stuff we will need when we are older. It is mainly finance and we paired up the seven pairs.

They are a weekly service fee which is paired up with a fee that you regularly pay to the banks for having an overdraft. Interest rate, The rate at which you are charged every week. This is a percentage of the overdraft balance every week. Bankruptcy, when you have no money left and cannot pay your debts. Max overdraft limit, the maximum amount of money you are allowed to borrow. Set-up fee, a one-off charge called an establishment fee. Arranged overdraft, When you apply to the bank to borrow more money than is in your bank account. Unarranged overdraft, when you spend more money than in your bank account.

A debit card is a card that spends your money in your bank account. A credit card is the money that you can spend but have to pay before six months. After draft is when you pay after you get it. A personal loan is a loan for yourself e.g to get a car. Overdraft is when you borrow more money than in your bank account. Hire purchase is buying something and paying small amounts each week instead of buying it in one pay e.g 100 paying $20 for 5 weeks.

When you get a debt it can show negative or they take off the amount E.g $10 your $100 pay will be $90