Boat Loans Australia :: Articles

5 Credit Killers

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

5 Credit Killers
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!
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

How to Avoid Capsizing Your Budget When Comparing Boat Loans
How to Avoid Capsizing Your Budget When Comparing Boat Loans
The excitement of buying a boat and the role of right financing: The dream of sailing on the open seas or cruising through tranquil waterways can be incredibly enticing. The prospect of owning a boat opens up a world of adventure, relaxation, and luxury. However, much like navigating through uncharted waters, purchasing a vessel requires sound financial planning. Choosing the right boat loan is crucial in making this dream a reality without causing a financial shipwreck. - read more
Common Mistakes to Avoid When Applying for a Boat Loan
Common Mistakes to Avoid When Applying for a Boat Loan
Applying for a boat loan can be an exciting step toward owning your dream vessel, but preparation is key to securing quick approval. A well-prepared application can make all the difference, ensuring you avoid any unnecessary delays and get the best possible loan terms. - read more
Tips for Getting Approved for a Boat Loan with Bad Credit
Tips for Getting Approved for a Boat Loan with Bad Credit
Having bad credit may make it seem challenging to secure a boat loan, as it can negatively impact your creditworthiness in the eyes of lenders. However, it's not impossible to get approved for a boat loan even with bad credit. - read more
Tips for Australians Seeking Boat Financing Despite a Low Credit Score
Tips for Australians Seeking Boat Financing Despite a Low Credit Score
For many Australians, owning a boat is a dream come true. However, if you have a low credit score, obtaining financing for your dream boat can be a daunting task. A low credit score can make it challenging to secure traditional boat loans from banks or lenders. - read more
Setting Sail: Top 10 Boating Spots in Australia
Setting Sail: Top 10 Boating Spots in Australia
Australia is a boater’s dream, offering an extraordinary array of aquatic landscapes that beckon adventurers to set sail and explore. From the gentle lap of waves in sheltered coves to the expanse of the open ocean, the joy of boating down under is unmatched. Whether you're a seasoned sailor or new to the world of nautical navigation, Australia’s waters promise spectacular views and unforgettable experiences. - read more
Expert Advice: What Lenders Look for When Approving Boat Financing Applications in Australia
Expert Advice: What Lenders Look for When Approving Boat Financing Applications in Australia
When it comes to buying a boat in Australia, many enthusiasts turn to financing options to help make their dream a reality. Boat financing involves obtaining a loan from a lender to cover the purchase of your desired vessel. Whether you are a seasoned sailor or a first-time boat buyer, knowing what lenders look for during the boat financing application process can greatly increase your chances of approval. - read more

Finance News

MA Financial's Strategic Expansion: Acquiring Brisbane's East Coast Marina
MA Financial's Strategic Expansion: Acquiring Brisbane's East Coast Marina
27 Sep 2025: Paige Estritori
MA Financial, a prominent alternative asset manager, has recently expanded its marina portfolio by acquiring the East Coast Marina in Brisbane for $33 million. This strategic move underscores the company's commitment to capitalizing on the increasing demand for boat berths along Australia's east coast. - read more
Commonwealth Bank Seizes Control of Jon Adgemis' Yacht Amid Financial Turmoil
Commonwealth Bank Seizes Control of Jon Adgemis' Yacht Amid Financial Turmoil
27 Sep 2025: Paige Estritori
In a significant development within the marine finance sector, Commonwealth Bank has appointed receivers to The Yacht Pty Ltd, a company owned by embattled publican Jon Adgemis. This action has resulted in the bank taking control of the 95-foot yacht, Hiilani, a vessel with a storied history, having once been owned by Hollywood icon Shirley Temple. - read more
Australians Leverage Boat Rentals to Offset Rising Living Costs
Australians Leverage Boat Rentals to Offset Rising Living Costs
26 Sep 2025: Paige Estritori
In response to escalating living expenses, many Australians are transforming their personal boats into income-generating assets. This trend is particularly evident among middle to upper-middle income earners aged 25 to 55, who are seeking innovative ways to manage financial pressures. - read more
Advocating for a National Strategic Fleet to Strengthen Australia's Maritime Industry
Advocating for a National Strategic Fleet to Strengthen Australia's Maritime Industry
26 Sep 2025: Paige Estritori
Australia's maritime industry is at a crossroads, with only nine Australian-crewed ships currently in operation. This decline has prompted calls for the establishment of a National Strategic Fleet to secure supply chains and revitalize the sector. - read more
Maritimo Celebrates Two Decades of Australian Boat Manufacturing Excellence
Maritimo Celebrates Two Decades of Australian Boat Manufacturing Excellence
26 Sep 2025: Paige Estritori
In an era where many manufacturing sectors have shifted offshore, luxury boatbuilder Maritimo stands as a testament to the resilience and innovation of Australian manufacturing. Celebrating its 20th anniversary, Maritimo continues to produce world-class motor yachts from its Gold Coast facility. - read more
Austal's $200 Million Equity Raising to Fuel Expansion
Austal's $200 Million Equity Raising to Fuel Expansion
25 Sep 2025: Paige Estritori
Austal, the ASX-listed shipbuilder, has announced plans for a $200 million equity raising to support its strategic growth initiatives. This move comes after the company attracted multiple suitors over the past two years but did not finalize any bids. - read more

Start Here

START HERE.

Loan Amount:
Postcode:

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

Knowledgebase
Loan-to-Value Ratio (LTV):
A ratio that compares the value of the loan to the market value of the property securing the loan.


Quick Links: | Boat Loans Australia | Marine Finance | Boat Financing Options | Boat Loan Rates | Boat Loan Calculator | Secured Boat Loans | Unsecured Boat Loans | Boat Loan Repayment Terms | Boat Loan Eligibility | Boat Loan Application Process | Boat Loan Interest Rates