Tag Archives: ask
Things Remember in Home Loans Australia
Owning a home is a big responsibility and it should not be taken for granted. A home is where everything starts and it would be best to maintain a home that empathizes with your capacity and gives you enough confidence in making it the dream that you have made into reality. But, before everything else, we come to a question where you could ask yourself, how will I acquire a home and am I capable enough to own one.
This is where home loans come in to help us to acquire own home. Every individual has the right to apply for a home loan but only if he/she is qualified to apply for home loan. Qualifications will vary according to what home loans provider may prefer but most likely, one of those would include your capacity to pay such a loan. Establish an evaluation of yourself by identifying or determining your sources of income and try to ask yourself if will it be enough to repay the loan you are applying for. Be sure to have a concrete answer to the question because it will also be the same inquiry that will be thrown back at you by the home loans provider when you are already on the phase of being interviewed.
Manage to gather similar answers to the question and support it with facts that about how well you will be able to keep up with repayments. After all those possible questions are answered, start on finding the right home loans provider and start doing some researches. Comparing home loans Australia would definitely be easier for you to do now that you already have determined your capacity to pay for such a loan. Loan offers will be a little bit competitive and in order for you to choose the best one, you have to consider the term of the loan, the kind of interest it would bear, the mode of payment, and of course, if ever possible, will it consider a bargain regarding any grace period for repayments if delayed for days.
Also try to make use of the advantages that comparison may bring because it is also a way of collecting different home loans offers and then eventually, selecting the best one. Always remember that Australia can give you a lot to think about but you can do away with it by setting things up and having your mind focused on the things that matter the most.
Can You Ask Your Credit Card To Lower Your Interest Rate?
If you think that the interest rate of your credit card must be reduced, dont just sit there and wait. Credit card companies wont volunteer to lower your rate if you wont ask them to. Surprisingly, a recent study reveals that 57% of credit card holders simply phoned in their requests and were granted a lower rate without any difficulty. So if you think youre a good candidate, pick up your phone and speak out.
Why Ask for a Lower Rate Lowering your interest by even just 10 points or less can bring huge savings to your budget. Just imagine bringing down your 19% interest to just 10%. Now certainly, that makes a big difference. Although it should be your goal to pay off your balances in full each month and avoid the interest altogether, there may be instances when you have to carry over your balance. Reducing your interest rate protects you from the risk of bad credit.
Are You a Good Candidate? Nevertheless, credit card companies wont just lower their rates for anyone. Are you a good candidate? First, check your credit report and gauge your credit rating. If youve been consistent in submitting your payments on time to all your creditors, you should have problem maintaining a high credit score. Paying off your monthly charges in full also makes you an ideal customer for creditors.
Your debt to income ratio may also be considered. How much do you spend each month and how does this compare to your earnings? Do you frequently carry a large amount of charges on your card? Do you often maximize your cards credit limit? Financial experts recommend not using more than 40% of your given credit. Using more than 505 or worse, exceeding your credit line would make you a high-risk borrower in the eyes of creditors.
Also, you need to consider the type of credit card you have. If youre using a secured credit card or a bad credit credit card, you may not be in the position to demand for reduced rates. Since youre regarded as a high-risk borrower, you cant expect your credit card company to reduce your rates just because you asked them to.
What to Say If you enjoy an excellent credit history, theres no reason why you shouldnt deserve a lower rate. The question is, what should you say to your credit card issuer? What points can you use to convince your credit card to reduce your costs?
One strategy is to research about the interest rates that other credit card companies offer. Based on your research, compare them with your credit cards rate and use this argument to request for a lower rate. You can also point out that youve been a long time customer (and a good payer at that!) and that youll like to stay within their company but that other credit cards seem to offer a better deal. Ask them if they could match that offer.
If the person you talked to insists that it is not in their power to make adjustments on fees, ask to speak with the supervisor. If your request is initially rejected, dont lose hope. Call again after a month or two and see if theyll be more agreeable to your request. While waiting, continue to improve your credit score and youll have better chances of getting a positive answer.