Personal loans are one of the most common types of loans, commonly taken out by people looking to make a one-off essential purchase. Unlike with a secured loan lenders won’t require you to secure the loan against your property as personal loans are usually for smaller amounts. However this doesn’t mean they are without risk, and your credit rating may determine the size of the loan you will be able to take out.
A debt consolidation loan allows you to simplify your finances. If you owe money on multiple cards or are paying back several loans you can consolidate all your payments into one loan, meaning you no longer make multiple payments each month.
Here’s the truth: although there are lots of different credit cards available, there aren’t all that many kinds of card. In fact, there are only seven. Here’s how to find your right one.
Do you know your credit fact from your credit fiction? There’s a lot of information on the internet. But, let’s be real for a moment: sometimes, it’s hard to know if what we’re reading is informational gold or just a pile of poo. Luckily, there’s something other than Wikipedia to help. In this quick quiz, …
Why use a purchase card? Let’s face it: sometimes, we all have things we need to buy. And sometimes, we wonder how we’re going to fund those things. Not many people know it’s these situations where a purchase card could help. Whether your purchase is to sort something like this… Or to get something …
Credit scores and Borrowing Power: how are they different? You might have noticed there are two numbers on your TotallyMoney credit report: your credit score and your Borrowing Power. But what do they mean? And how are they different? We’ve created a quiz to put you to the test. It’s only 10 questions, so why …
Read moreCredit scores and Borrowing Power: how are they different?
There are four main things you should check on your credit report, so here’s a poem about what they are. Why? For fun, and to help you remember. The Credit Report Check Once upon a midnight dreary, you did ponder, weak and weary, Over many an email about your poor score. And so you checked …
Your Credit Score Explained Most of us know we have a credit score, and that a higher score generally means you have a better credit rating. But, if you’ve been looking to have your credit score explained in more detail, you probably haven’t had much luck. Until now. What goes into a credit score and …
In an attempt to help more people get onto the property ladder, the Government has instituted a series of Help to Buy schemes that can assist first-time buyers with purchasing a home. One of those is the Shared Ownership Scheme – and to help you get an idea of how that works, TotallyMoney have put together this straightforward guide.
If you were hoping to get a definitive answer, we have to let you know that it’s more complicated than that. A number that could seem like a good credit score with one agency might be a poor credit score with another. We’ve done our best to crack the code, so you don’t have to.
In the UK, there’s no such thing as a universal credit score. The three credit reference agencies — TransUnion, Experian, and Equifax — all use different methods to calculate it, which means it will be different with each one. This guide should clear things up.
Understanding different credit terms is sometimes confusing. The important thing to remember is that a credit score is different from a credit rating. In short, a credit rating is an assessment of your creditworthiness; a credit score is a number that reflects this.
What is a credit check? Many throw this term around quite often, but do any of us truly know what it means and what it entails? We know it can be a bit confusing, so read on for an explanation of what a credit check is and much more.
Many people use terms such as “credit data”, “credit file”, “credit report”, and “credit score” interchangeably. While in context most would understand what you mean, they do all mean different things. We’ve prepared this guide to clear up the confusion.
Whether you’re new to credit or simply lost in the sea of information there is on the subject, let’s not pretend understanding it is easy. That’s why we’ve come up with these five credit-improving tips, to set you on your way.
If you haven’t used credit responsibly in the past, your credit score might be a bit out of shape. And if you’re hoping to be accepted for credit in the future, it’s important you think now about how to fix a bad credit score. Here are some tips to help.
Rejection is never easy — and sometimes, it’s hard to see where exactly you’re going wrong. Here, we look at what you can do if you’re often turned down for credit, so you can see what YES feels like.
In many ways, a good relationship is like a good credit rating: it’s a long-term commitment, it takes work, and sometimes it’ll get on your nerves.
But, if you’re willing to put in the time and effort, you could make something great. Here’s how to do it.
There’s a lot of advice out there on how to build credit. But with so much information about, it can be hard to find what’s useful for you in all the deluge. This guide looks at what to do if you’re new to credit, and what to do if you’ve managed credit poorly in the past.
With more of us using contactless technology and transacting online, the potential for someone else to spend in your name is higher than ever. That’s why we’ve put together this guide: to let you know what to do if you’re a victim of credit card fraud, and to help you take steps so it doesn’t happen again.
You might think: checking your credit report — why bother? The truth is, checking your credit report could be vital for keeping or getting your credit rating in good shape. But what should you be checking for? This guide clears that up.
Some may think: I don’t need credit, so why does it matter if I have a bad credit history and rating? The truth is, even if you don’t need credit right now, life can take an unexpected twist at any time. And in such a situation, it’s good to know you have credit available should you need it.
You could be entitled to £100s, or possibly £1,000s, back from your credit card provider for missed payment charges or going over the top of your credit limit.
Read this guide to find out if you can claim your money back.
If you’re going overseas, choosing the right credit card before you go is essential. Plastic is the cheapest, most convenient, flexible way of spending money abroad. Find out how to pick the best card for your travels with this guide.
Fixed-rate mortgages offer the security of knowing exactly what you’ll pay each month but you’ll probably pay a premium for that luxury. Find out if a fixed-rate mortgage is for you with this guide.
Tracker mortgages tend to offer you lower rates in return for taking a chance on mortgage interest rates stay low. But, if rates start to rise you’ll be hit with higher repayments. Find out if a tracker mortgage suits your needs with this guide.
Some lenders offer special deals for people with bad credit who are looking for a loan. However some deals can end up costing you a lot, so use our guide to make sure you know what you’re looking for.
Some lenders offer special deals for people with bad credit who are looking for a loan. However some deals can end up costing you a lot, so use our guide to make sure you know what you’re looking for.
Homeowner loans can help you secure large amounts of money, however there is a huge amount of risk involved when borrowing against your home. Find out more in our guide.
Unsecured loans do not require you to put down any form of collateral when you borrow. That way if you do end up missing payments or defaulting you won’t lose your house or car. However, to compensate for this lenders usually charge higher interest rates. Is an unsecured loan for you?
Thinking of buying a house? The size of your deposit is key to saving tens of thousands of pounds over the life of your mortgage. Here we explain the importance of saving as much as possible before you buy a home, and how you can make your cash grow.
Buying a house is an expensive business, but it’s possible to do it with a small amount of savings. In this guide we explain everything you need to know about buying with a low deposit, including how to find the cheapest deal.
Instead of throwing away thousands of pounds a year on rented accommodation, maybe it’s time you invest and take your first step onto the property ladder.
Thieves steal hundreds of millions of pounds a year from cards in the UK. Some scams are sophisticated, but others are more old-fashioned with fraudsters stealing money in really simple ways.Read this guide to find out how to keep your credit card safe from credit card fraud.
Money transfer credit cards allow you to transfer money from your credit card to your current account. They are a fantastic way to cut your interest on existing loans, overdrafts, and in some cases, pay-day loans. Read our guide to find out how to make the most of money transfers.
A good credit rating can help you secure better deals, cheaper interest rates and save you £1000s of money over your lifetime.
With deposits higher than ever, buying with help from your parents may seem attractive. But it’s fraught with difficulty.
A discount mortgage can lure borrowers in with tantalising low interest rates,, but there are downsides to consider. Is a discount mortgage for you?
Find out how Section 75 can help you. It provides extra protection for anything you buy with a credit card that costs more than £100.
Pick the wrong mortgage and you could end up paying £1,000s in unnecessary fees and interest. But finding the right mortgage isn’t difficult and once you know the basics the mortgage world will become a lot easier to navigate. Read on to discover the key to picking the right mortgage for you.
A lesser-known gem of the mortgage world, offset mortgages allow you to reduce the amount of interest on your mortgage by using your savings. Read out guide to find out how.
When you take out a mortgage you must choose how you are going to repay it. You can either go for an interest-only or a repayment mortgage. Read our guide so you can make an informed decision about how to pay back your mortgage.
Choosing the right mortgage can save you £1000s, but where to start? This guide will teach you how to use brokers and comparison websites to find the best mortgage deal.
You can actually give ten time more to charity by switching from a charity card to a better credit card.
It’s hard, but not impossible. If you work for yourself and are looking to remortgage or buy a new home, find out how you can get the right mortgage for your circumstances with this guide.
Having bad credit and no credit are two very different things. Find out how to build your credit score if you are young or new to the country.
Find out who you need to tell and what you need to do to protect yourself from fraudsters if you card is lost or stolen.
Your dreams of buying your perfect home can often be curtailed by a lender’s tight purse strings. If you are struggling to borrow as much money as you would like read on for tips on how you can make yourself more attractive to lenders and increase your chances of getting a bigger loan.
From shared ownership to lender schemes, learn about the many options available to you when trying to get up on the property ladder.
It’s a great mystery to some of us, but understanding your credit score can give you a better idea of what lenders are looking for and increase your chances of being accepted.
When used correctly a credit card can save you money on interest, how you make one-off purchases and even improve your credit score.
Picking the right buy-to-let mortgage can make all the difference between profit and failure for landlords. Pick the perfect mortgage and make top up your income after you’ve read our guide.
Yes, there really are eight (at least). Find out how the new world of online credit comparison is helping people save money and get great deals on credit cards the never knew they needed.
You could be getting hundreds of pounds worth of rewards every year with the right rewards card.
Rejection hurts, so find out how you can get a specialist card so you can spend and start rebuilding your credit score.
Find out how a 0% purchase card can help you save on a major purchase. Just make sure you can pay the balance back within the introductory period.
Discover the cheapest way to pay off small debts. If you move your credit card debts on to a 0% balance transfer card you could pay no interest for over two years.
Credit cards aren’t just for borrowing, they can actually save you money. Find out how you can spend and save with a cashback card.
Balance transfers. The finance world talks about them like everyone knows what they are, like they’re part of everyone’s vocabulary. But, here’s the thing: it’s hard to get excited about them — even though they can be pretty useful.
Making the minimum repayment on debts might seem like it is costing you next-to-nothing each month, but in reality you might be paying a lot more back than you need to.
Beware anything that claims to be ‘free’. Fee-free mortgages can have higher interest rates than other mortgage options. Find out what you need to know when considering a fee-free mortgage.
Seen as a sign that you’ve ‘made it’, premium credit cards can actually be a sign that you are wasting your money. Find out what they do and how they should be used.
Payday loans work on the assumption that you desperately need to borrow a small amount of money that you will pay back on your next pay day. Find out what you need to know about payday loans and their alternatives.
Don’t worry — the definition of “credit report” isn’t as scary as the name suggests. In this guide, we look at exactly what a credit report is, and explain how you can get one for free (hint: TotallyMoney has one you can check as many times as you like).
We think that the best way to compare balance transfer cards is by the interest saved by switching your current balance or balances minus any applicable charges or fees over the length of the 0% offer.