Each of the major credit agencies – TransUnion, Experian, Equifax – have their own proprietary scoring method. Credit scores tend to range from the 300s to the 800s. The following is a generalisation of what a score means. A score Read more…
We’ve just launched a credit building service! And it’ll be bundled into the current SteadyPay subscription at no extra cost. So what is this awesome new service? When you make a repayment, you’ll be doing more than refreshing your credit Read more…
1. Check your credit score and credit file This not only gives you a good starting point, but you can also see if there are any errors in your credit file. You can view the information held on you by the Read more…
Your credit score is a number that lenders refer to when they assess your application for a loan or credit card. Your credit score summarises your credit history. It is calculated using information such as your: Credit payment history (are Read more…
1. Better interest rate We don’t charge interest here at SteadyPay (we’re a subscription service), but other lenders do. The interest rate you’re offered is pretty much tied to your credit score and credit history. If these are in a Read more…
So what does it take to build a good credit record? Great question. Generally speaking, it takes two things. The first is time. How much time will depend on your personal situation. May be you’ve just opened your first credit Read more…
I like to read a lot about personal financial management. Here’s a few blogs I’ve discovered along the way. You might be laughing at me now – blogs, really, in these days of YouTube and Instagram? Fair enough, but there’s Read more…
In 2018 a thinktank called the Resolution Foundation published a fascinating report on pay volatility in the UK. Their findings remain relevant today, may be even more so given the economic fallout from COVID-19. The research was based on anonymised Read more…
Overdrafts are designed to be a quick fix. This means they address a symptom of the problem (“I need money to buy this thing now!”), rather than the root cause (“Why am I short of money again?”). Our service is Read more…
We want to challenge the way banks and lenders make money. When we looked around for inspiration, it came from modern businesses that don’t operate in financial services. Think Netflix and Spotify. They make money by charging a subscription fee. Read more…