Tag Archives: credit

Credit card jargon buster – 10 top terms

Credit cardsEver wondered what some of the key credit card terms really mean? Here are our top ten.

  1. APR - The annual percentage rate is the price you pay each year for money you’ve borrowed, including interest and fees.  The representative APR is an advertised rate that a minimum percentage of customers will pay, usually 51% of those accepted.  If you’re not given the advertised rate, you’ll get a personal APR.
  2. Balance Transfer – This is when you choose to move credit card debt you already have to a lower or  0% interest credit card balance, usually for a transfer fee.  With a 0% balance transfer deal you can potentially give yourself longer to pay off an existing credit card debt, without having to pay interest. This is as long as you make the minimum monthly payment and stick to any other Ts and Cs. More about balance transfer cards here
  3. Continue reading

How well do you know yourself?

How well do you know yourself? We decided to try and find out, one day last month in Nottingham.

And it turns out that while there’s a lot we do know about ourselves, one thing not many of us know is our credit score.

We set up a booth where people could pop in and answer some simple questions in our quiz – but one question above all foxed them.  Watch the video to find out how and why!

Continue reading

Graduate debt on the rise: 5 tips for new students

A new world of university life is shortly set to open up for thousands of teenagers.

Most new students realise they’ll leave university with a loan they’ll spend years having to pay back once they’ve made it into the world of work.

But new research shows that new graduates will face average debt levels over a third of the average outstanding mortgage.

By the time they start paying back their loans – maintenance and tuition fees – their debts will be well in excess of £41,000, according to The Money Charity,  which is 35% of the average outstanding mortgage (£117,162).

And how you manage any credit you have now can affect your chance of getting credit in the future.

Continue reading

Ask James: credit questions answered

Every month Experian’s James Jones answers a selection of your questions about credit and fraud in his ‘ask the experts’ style column here.

Jack from Cheadle wanted to know if claiming benefits would affect his credit rating, and would be part of a future credit check.

James from Worthing wants to know why his Experian Credit Score has gone down when nothing has changed with his financial profile, while Susan from Bury St Edmunds asked Why can’t the pre-app checker identify me?, about not being found on a credit card eligibility calculator.

Finally, Diana from Exeter would like to know why she was unable to change her gas meter from pay as you go to direct debit,

You can also find more Ask James questions answered in our Ask James archive.

If you have a specific question and can’t find an answer here or you wish to contact us to query something on your credit report, please contact us – find all the ways you can contact us here.

 

PayPlan Q and A – with James Jones

*COMPETITION NOW CLOSED*

payplan-JJ-image-500Got any credit-related questions you’d like answered? We’re joining forces with PayPlan for a Twitter question-and-answer session on Friday (17th April) between 12:30-1.30pm.

It’s your chance to ask our Experian Expert James Jones any credit questions that you have! You can submit questions to him @PayPlan in advance or ask questions to James directly during the hour.

You could also win a £25 Argos voucher in PayPlan’s competition if you submit a credit-related question – you can find details and full terms & conditions HERE. Make sure you mention @PayPlan and use #AskJames.

PayPlan is a provider of free debt management plans , IVAs, and free debt advice, Here’s Darren from Experian Experts with a guest blog on how to rebuild your credit rating when coming out of debt.

 

5 good reasons to register to vote on the electoral roll

Being able to vote could potentially help you get credit

Being able to vote could potentially help you get credit

With the general election just months away, the leading names are jostling for position as they covet our votes.

But many of us won’t even be able to vote in it, unless we get on the electoral roll – and not doing so could also affect your credit rating.

Today (5th February) is National Voter Registration Day, a day that marks the anniversary of the Great Reform Act in 1832 which first introduced voter registration. The aim for this day is to get 250,000 more young people on to the electoral register, as young people are very much under-represented at present.
Continue reading

6 online Christmas shopping tips

Are you doing your festive shopping online?

Are you doing your festive shopping online?

Managing your finances at Christmas can be tough, especially when there’s a lot to pay for, and a lot of time to fill. So if you’re planning on doing your festive shopping online, we’ve come up with some key tips that might help.

Continue reading

Get credit-set for a summer of football

Brazil World Cup 2014

A summer of football, sunshine…and not much work done?

There are fewer than 100 days now until 12 June, which sees the opening match of this summer’s FIFA World Cup in Brazil.

Excited? I certainly am. I’ve been to a major tournament myself, and can vouch for how amazing it feels to be part of the action.  And it’s not too late to think about travelling out to Brazil to take part in the festivities.

Continue reading

Can you help me recover my credit rating after illness?

Dear James,

I recently defaulted on a number of monthly payments due to being hospitalised as an emergency. I had to have triple heart bypass surgery, which has kept me from sorting my finances over the past few months. After paying off all default payments I was relying on one of my credit cards to pay off an upcoming bill. Today I received a text advising me that my credit had been reduced on this card. Trying to reinstate the credit, I was informed that my report showed the defaults and credit couldn’t be reinstated. With defaults now addressed and considering the position I was in, can Experian update and reflect my position, as it is needed quite urgently and would be greatly appreciated right now.

Yours sincerely, Liam, Liverpool

Continue reading