People comparing credit cards urged to keep on top of bills

Monday 06 December 2010

Article by Mozo

Australian consumers looking to compare credit cards have been warned that banks are currently being very strict with who they lend to.

Australians told to keep on top of bills

Credit Agency Dun & Bradstreet (D&B) has warned that not keeping on top of bills can harm credit seekers' chances of accessing credit.

Indeed, the organisation told news.com.au that an unpaid bill can remain on file for up to five years.

Christine Christian, D&B chief executive, told the news provider that the days of "easy access to credit" have ended as lenders are becoming choosier about who they will deal with.

"In the current environment banks are only willing to lend to those that don’t have adverse information on their record – they won’t take a risk on anyone with outstanding debts, missed payments or court actions against their name," she commented.

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