A credit rating is number that is often referred to as a credit score. When reviewing a credit report many credit providers use this number as a way of determining whether they will approve an application.
Credit card fraud in Australia is continuously proliferating. It has grown more rapidly in the last 10 years. According to the Australian Crime Commission (ACC), skimming or counterfeiting of credit cards by unscrupulous parties cost Australians over $45 million annually. Thus, credit card scam is one of the most pressing issues that heighten alert among authorities and that worry most consumers across the country.
One in every six Australians has been a victim or knows someone who has been a victim of identity theft. This is the findings of an online research released by Di Marzio Research in July 2011, which polled 1,200 respondents. The survey would be among the information that would be used for the development of a proposed National Identity Security Strategy.
The question “should I help my client restore their credit rating?” is a highly contested one. From a credit providers perspective these are understandable concerns as the removal of a negative credit listing could be viewed as an attempt to mask the applicant’s true financial position and not allow them to apply an appropriate risk rating.
Business owners can be practically venerable to problems with their credit files. Many industries such tradesmen rely on being able to get credit for materials quickly, without out this ability jobs cannot be secured and things come to a grinding halt.