FOLLOW US
Follow us!

We are a proud member of the Financial Services Online network!

Connect with us on your favourite social media platform for the latest financial news, views, resources and information.

Follow us on social media
Boat Loans Australia
financing your boating dreams
Boat Loans Australia :: Articles

5 Credit Killers

What are the top factors that can damage your credit score?

5 Credit Killers

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

A good credit score speaks volumes about your financial habits. It's the evidence most creditors need to evaluate your credit worthiness.
Interestingly, there are some credit killers that even people maintaining good credit scores would unwittingly be a part of, which will be their undoing when applying for credit facilities in the future.
These mistakes may seem to be insignificant, but when the time comes, you may face more problems than you expect.

Avoiding Debt

Creditors need to evaluate your financial history to approve any credit facilities.
If you have no previous or existing debts, it might adversely affect your case, as creditors have no way of checking out how you'll handle the credit you get from them.

Shopping For Rates

Looking around for the best rate may actually turn out to be bad.
Debt Stressed?
Image for Debt Stressed?If you're struggling to pay your debts and covering living expenses, we're here to help. Through our national panel of Debt Management specialists, we can help customers with $10k or more in debt by consolidating your existing loans, stopping Debt collectors from contacting you and re-negotiating repayments on your terms!
... start your free debt analysis ...
Too many inquiries within a short period could damage your credit score.
Usually, if you do more than 3 or 4 inquiries within a single month, you are likely to scare the lenders. For the same reasons, transferring the balances on your credit cards could be a bad idea as well.

Assuming There's a Grace Period

If you are late on a payment by even one day, you are late, period.
Never assume there's a grace period for late payments, because it only affects your credit score negatively.

Closing Old Accounts

Because your relevant transaction history also gets erased when you close your old accounts, your credit history is shortened and it may lower your credit score.
If you want to close your old accounts, close everything except the oldest account, which will leave a longer history.

Co-signing Loans

The obvious problem here is that the primary borrower's mistakes will end up on your credit report as well.

Published: Sunday, 1st Aug 2021
Author: Paige Estritori


Boat Loans Articles

Sea-Worthy Solutions: How to Compare Boat Insurance Providers in Australia
Sea-Worthy Solutions: How to Compare Boat Insurance Providers in Australia
Embarking on the journey to purchase a boat is an exhilarating milestone, bringing with it the promise of sun-soaked adventures and serene escapes on the water. Yet, beneath the waves of excitement, lies the crucial decision of selecting the right boat insurance provider in Australia—an aspect as pivotal as the vessel itself. Boat insurance not only safeguards your maritime investment against unforeseen incidents but also ensures that your nautical dreams stay afloat in turbulent times. - read more
3 Things to Avoid When Buying a Used Boat in Australia
3 Things to Avoid When Buying a Used Boat in Australia
Buying a used boat can be an exciting adventure, but it can also be a daunting task. It's important to remember that purchasing a high-quality used boat is crucial for your safety and enjoyment on the water. Australia's vast coastline and numerous waterways make it a prime location for boating enthusiasts, but with so many options available, it's easy to fall into common traps. - read more
From Dreams to Reality: Choosing the Right Boat Loan for First-Time Buyers
From Dreams to Reality: Choosing the Right Boat Loan for First-Time Buyers
Owning a boat is a dream for many Australians, offering an opportunity to explore the country's stunning waterways, enjoy recreational activities, and create lasting memories with family and friends. - read more
Unlocking Better Deals: The Negotiation Power of Specialist Finance Brokers
Unlocking Better Deals: The Negotiation Power of Specialist Finance Brokers
When embarking on the thrilling journey of boat acquisition, the role of specialist finance brokers often remains a hidden key on the sail to a successful purchase. A specialist finance broker serves as a seasoned navigator in the vast sea of boat finance, expertly guiding buyers through complex financial waters to secure the best deals tailored to their individual needs. - read more
Maintenance Checklist: Keeping Your New Boat in Top Shape
Maintenance Checklist: Keeping Your New Boat in Top Shape
Welcome to the exciting world of boating! Owning a boat opens up a realm of adventures on the water, from leisurely cruises to thrilling water sports. - read more
Understanding Boat Insurance in Australia: A Guide for Buyers
Understanding Boat Insurance in Australia: A Guide for Buyers
Boating is a popular recreational activity in Australia, with over 85% of the population living within 50 km of the coast. However, boaters must consider the risks associated with being out on the water, including accidents, theft and damage to property. Insurance can help protect boat owners from these risks and provide peace of mind while navigating Australia's waters. - read more

Finance News

BIA Calls for Balanced Approach to Sand Flathead Fishing Closures in Tasmania
BIA Calls for Balanced Approach to Sand Flathead Fishing Closures in Tasmania
01 Apr 2026: Paige Estritori
The Boating Industry Association (BIA) has recently addressed the Tasmanian Government regarding the proposed closure of sand flathead recreational fishing zones in south-eastern Tasmania, set to commence on 1 March 2026. This initiative aims to protect declining sand flathead populations; however, the BIA emphasises the necessity of a balanced approach that considers both environmental sustainability and the socio-economic well-being of local communities. - read more
BIA Endorses Dolans Bay Marina's Infrastructure Enhancement
BIA Endorses Dolans Bay Marina's Infrastructure Enhancement
01 Apr 2026: Paige Estritori
The Boating Industry Association (BIA) has expressed its support for the proposed infrastructure upgrades at Dolans Bay Marina, recognising the project's potential to significantly improve boating access and safety for individuals of all ages and abilities. This endorsement aligns with the BIA's commitment to promoting safe, responsible, and enjoyable boating experiences across Australia. - read more
BIA Calls for Urgent Improvements to River Murray Boating Infrastructure
BIA Calls for Urgent Improvements to River Murray Boating Infrastructure
01 Apr 2026: Paige Estritori
The Boating Industry Association (BIA) has raised concerns regarding the deteriorating state of essential boating infrastructure along the River Murray, emphasising the need for immediate action to ensure the safety and accessibility of these facilities for the boating community. - read more
Club Marine Introduces Specialized Insurance for Race Boats
Club Marine Introduces Specialized Insurance for Race Boats
24 Mar 2026: Paige Estritori
Club Marine, Australia's leading boat insurance provider, has unveiled a new insurance policy tailored specifically for race boats during storage and transit. This initiative aims to support participants in the Australian Offshore Superboat Championship by offering coverage for accidental loss, damage, theft, or malicious damage while the boats are on land and on their trailers. - read more
Marinas26 Conference to Explore AI's Transformative Role in Marina Operations
Marinas26 Conference to Explore AI's Transformative Role in Marina Operations
24 Mar 2026: Paige Estritori
The Marina Industries Association (MIA) has unveiled the comprehensive program for Marinas26, its biennial conference and trade exhibition, scheduled for 24–27 May 2026 at the RACV Royal Pines Resort on Queensland’s Gold Coast. Embracing the 'Future Smart' theme, the event aims to delve into emerging trends and technologies poised to reshape the marina and boatyard sector across the Asia-Pacific region. - read more
Sydney Boat Show 2026 Set to Return to Sydney Olympic Park
Sydney Boat Show 2026 Set to Return to Sydney Olympic Park
24 Mar 2026: Paige Estritori
The Boating Industry Association Ltd (BIA) has officially announced that the 2026 Sydney Boat Show will take place at the Sydney Showgrounds at Sydney Olympic Park from Thursday, 30 July to Sunday, 2 August 2026. This four-day event is set to expand following the success of its debut in 2025 and strong interest from the industry. - read more
Click for more Finance News

Start Here

START HERE.

Loan Amount:
Postcode:

All quotes are provided obligation-free by a participating broker from our national referral partner network. We respect your Privacy.


Quotes are offered free & without obligation. We respect your privacy.

Knowledgebase
Return on Investment (ROI):
A measure used to evaluate the efficiency of an investment or compare the efficiency of several different investments.


Quick Links: | Boat Loan Finance | Boat Financing Options | Marine Finance | Boat Loan Rates | Boat Loan Calculator | Boat Loan Comparison | Boat Loan Lenders | Boat Loan Terms | Boat Loan Approval | Boat Loan Application | Boat Loan Interest Rates



This website is owned and operated by Clark Family Pty Ltd (ACN 010 281 008) as Trustee for the Clark Family Trust (ABN 35 957 893 714), 43 Larch Street Tallebudgera QLD 4228. Clark Family Pty Ltd is an Authorised Representative (AR 1298860) of Unique Group Broker Services Pty Ltd (AFSL 509434) for financial product referrals and an Authorised Credit Representative (ACR 401491) of Saccasan Pty Ltd (ACL 386297). Check our licensing details on the ASIC registers: Clark Family Pty Ltd ACR, Clark Family Pty Ltd AR, Saccasan Pty Ltd, Unique Group Broker Services.
| HOME | RATES | CALCULATORS | NEWS | ARTICLES | ABOUT | CONTACT | PRIVACY | BROKERS | SITEMAP |
IMPORTANT: We act solely as an introducer and refer enquiries to licensed third-party brokers, insurers, and lenders. We do not provide financial product advice or credit assistance. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third party to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs. Whilst we have our own process for validating the legitimacy of our referral partners, you should independently verify the credentials and licensing of any adviser or provider you engage. Visit the ASIC website for further information.